When starting something new, generally, everyone has jitters. It can be difficult to overcome your fears at times. Fear is a normal part of life. However, the trick is to overcome your fears. As such, when starting a new business there are countless fears that have the potential to hold you back. Here’s a look at five fears that entrepreneurs must overcome to be successful in business.
One of the biggest fears that stops people from becoming entrepreneurs is the fear of failure. It starts with thinking of the countless ways you could mess up and not do well in a business. If you succumb to these thoughts you presume you aren’t ready to take the risk. Bear in mind, failure is a part of life and to be afraid of failure is to be afraid of life itself. Life is full of risks, you just need to assess whether the pros outweigh the cons. If so, don’t give in to your fear and take the risk. It could pay off better than you expect.
Lack of Funds
Another fear that stops people from starting a business is a lack of funds. Many people consider taking out a business loan as a huge risk. Meanwhile, with families to look after it can be quite a huge risk. This fear of not being able to afford a business and repay business loans keeps many people from entrepreneurship. While this type of fear is valid it can be faced with conviction that entrepreneurship is the right choice and the work will, indeed, pay off.
Leaving a Comfort Zone
Most people are set in their ways. They don’t like change and they don’t like stepping out of their comfort zones. When you are an employee with fixed hours and set vacation days it can be quite an adjustment transitioning to entrepreneurship. Some people don’t want to be in charge of other people and feel the pressure of extended time constraints associated with startups. It is, admittedly, quite difficult to change life-long habits and “comfortable” ways.
Balancing Family Responsibilities
If you are married with children you are responsible for others, their schooling, lifestyle, etc. It can be quite difficult to make the decision to take a risk with a new business. It’s much easier to stay at a job with a steady paycheck. The decision to become an entrepreneur can become even more difficult without family support.
Many would-be entrepreneurs fear they do not possess the required skills to start a business. This is common, but if you know what you want, and have good personal and social skills to communicate with people, you can make it. While you may not have the skills, you will learn to lead a skillful team to complete your vision. The fear of not having the “right” skills to start a business is seldom right.
Fears, though a part of life, can be overcome. Life is full of risks and many successful entrepreneurs have overcome these types of fears to become successful in business. The choice is yours.
Dani Zehra is a passionate blogger writing on behalf of SETalks. Dani enjoys writing about startup and tech related subjects. This article is inspired from the teachings of Jose Carlos Gonzalez Hurtado.
© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.