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The 11 fears that every entrepreneur must face

September 7, 2020

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Anxiety is a fundamental part of human psychology. Our brain is programmed to feel fear because it helps us avoid calamity. That protects us

The 11 fears that every entrepreneur must faceThe 11 fears that every entrepreneur must face

But fear can also hold us back … if we let it. Fear feeds on fear, which means that the more we try to avoid what scares us, the greater our fear. To overcome this, we need to face our deepest fears and worries. We need to acknowledge our fears and find ways to leave them behind.

There are many common fears that entrepreneurs face. But if we don’t face these challenges, fears will consume us. Regardless of what your fears are, now is the best time to face them and overcome them … otherwise, they will prevent you from succeeding.

1. Fear of change

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Change of any kind is a terrible thing. In fact, our brains are hardwired to avoid change. The natural thing is to seek a comfortable and secure existence. We resist change because it appears to be a threat to our status quo. But that comfort can prevent us from doing things that move us forward.

Fear of change makes us worry about the future and this will no doubt lead us to a closed mind in which we refuse to make the adjustments necessary to foresee what is to come. You cannot avoid changes. No matter what stage of your business you are in, you need to find ways to accept change and open the door to innovation and progress.

2. Fear of failure

Failure often seems like the worst possible possibility. When we think of failure, we think of unbearable shame and the fear of losing everything. But in general, the fear of failure originates in our ego.

We believe that those who have doubted us will be right if we fail. But better ask yourself these two things: In 10 years’ time, will you regret not having seized this opportunity? And if you fail, what will happen?

Having a Plan B gives you the confidence you need to do things. Think of the possibility of failure as an opportunity to try something new. If it doesn’t work, you can try something else.

3. Fear of not knowing enough

It may sound silly, but you don’t know what you don’t know. We all have knowledge gaps or blind spots in the amount of information we have gathered in life. Knowing this can help fill these gaps. If you are concerned about not having enough information or experience in a particular area, correct this situation.

Don’t be afraid to ask for help. Find mentors and resources to help fill in your blind spots. At each step, seek feedback from others. But don’t let fear ask you what you know all along. Be confident and trust your instincts.

4. Fear of the unknown

Uncertainty registers itself in our brain as an alarm, and we tend to avoid the unknown because we fear change. We are afraid of losing control and not being able to deal with the potential outcomes. We fear diving into the void because we have no guarantee of how things will turn out.

There is no doubt that the unknown will lead us to change. This can lead us to success, but it can also easily lead to failure. When you understand what makes your company successful and feel confident about your company and the business model you have put together, you will feel more confident about taking a step into the unknown.

5. Fear of spending

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It is one thing to dream big, create a business plan, and set goals. But using your money or savings on the table and spending on your business is another matter. But listen to this: there is almost no way you can grow your business if you don’t invest money in it.

Even an inexpensive business may need a capital injection to promote it, build a professional and reliable website, or have equipment in your office. Yes, making these expenses seems like a risk (see below), but you won’t get going until you are ready to invest in your dreams.

6. Fear of taking risks

Every time we take a chance at something, we are putting ourselves, our business and our reputation at risk. Taking a risk can produce great results or tear us apart and bankrupt. However, there is an important distinction between a dangerous and an uncalculated risk and a well considered and analyzed risk.

The ones who take dangerous risks are players who bet everything on something that has not been proven. When you take a calculated risk, you have a strategy for every step. You get closer to your goal and carefully analyze the size of your investment until you are sure that your business will be profitable. Calculated risks are the key to success.

7. Fear of disappointing others

Nobody wants to disappoint their people. What’s more, who doesn’t want to impress their friends, colleagues and family? We want to meet your expectations and make sure we meet all requirements. But as an entrepreneur, you have to go your own way.

You need to focus your time and energy on the things that are important to you. If you don’t pursue your dreams and goals, and don’t build a life that you are passionate about, you will be disappointed in yourself. Decide what your purpose is and do it. Don’t put your own ambitions aside to please others.

8. Fear of ending up in uncomfortable situations

Many people fear public speaking more than death. Just thinking about it scares us, and speaking in public can be extremely stressful. With a little practice, however, we can familiarize ourselves with the situation in order to leave our comfort zone. However, this will only happen if you have the right attitude and face this challenge.

Just like if you were to climb a mountain or a parachute, you need to prepare for it first. You can start by taking small steps and doing simple things outside of your comfort zone. Give yourself the opportunity to familiarize yourself with the uncomfortable, and without realizing it, open the door to new situations without so much fear and agony.

9. Fear of being wrong

Most entrepreneurs are inherently competitive, so it makes perfect sense that we should be scared of making mistakes or not being perfect. To overcome this fear, you need to reduce your innate sense of perfectionism and learn to come to terms with the fact that everyone, including you, makes mistakes.

It is important to realize that mistakes happen because we did something, because we were activated and we took a step. Maybe it was a wrong step, but making a mistake is better than doing nothing, as that only leads to indecision and stagnation. So don’t be so obsessed when you make a mistake. Analyze it, learn, and move on.

10. Fear of not being good enough

Self-criticism can be a huge mountain because we know our shortcomings and weaknesses better than anyone. And sometimes there is a dark fear that stays in the back of your mind: “What if I’m not good enough?”

For some people, the fear of not being as good as others think you are is so great that they feel less and less capable, no matter what they do or how hard they work.

This is known as imposter syndrome. This excruciating existential disaster can set in motion a vicious cycle that questions your abilities and constantly leads you to seek impossible levels of perfectionism. Take two steps back to put these feelings aside. Don’t let your inner fears stop you from achieving your dreams.

11. Afraid to say no

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It can be tempting to take on all projects or say yes to all jobs. And especially if you’re just starting your business, any amount of money looks enticing. But there will come a time when you have to say NO to certain things. If you continue to cover everything, you will end up paying attention to certain things and not giving the 100 percent that you could give.

As a business owner, make sure that whatever projects you take on will help you build something bigger. Do you accept jobs that take you away from your mission or your most important goals? Or do you accept projects that don’t help your reputation? Saying no to certain things is okay, so you can say yes to the right things.

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