Fearless Entrepreneurship: 5 Common Fears and How to Overcome Them

At some point or another, every entrepreneur has wondered if they are on the right track

and if the business they are pouring their time, money, and energy into is actually going

to work out how they hope. But the reality is that these fears and doubts are just part of

starting your own business. As an entrepreneur, there will be times when you're not sure

that things will work out. And it is in these moments that you need to be able to take a

step back and look at the situation, and your thoughts, in a different way.

Financial insecurities, temporary setbacks, and the usual challenges that life throws at

you can be daunting. The majority of 'would-be' entrepreneurs will throw in the towel

and quit the moment the going gets tough. They falsely believe that they don't have

what it takes to succeed or the journey is just too tough for them. They fear the 'hard

yards' and the trials that must be endured in order to see success. They quit out of fear.

At the end of the day, when it comes to fear, you really only have two choices:

-   Forget Everything And Run

Or

-   Face Everything And Rise

The choice is quite obvious. While the rst one will be easy, it will leave you stranded in

the muck and mire of mediocrity. Your dreams and goals will die from strangulation

by fear. Choose the second option, and you'll push past your fear with grim determination.

When you come out on the other side, you'll be emotionally stronger, mentally tougher,

and you'll taste the fruits of success. Everything you want is on the other side of fear.

In this guide, we'll look at 5 of the most common fears that plague entrepreneurs and

how you can rise above them to achieve the life and business you were created for!

1. Fear of the Unknown

This is probably one of the biggest fears that entrepreneurs face. When you're starting

your own business, while you may have done your homework and prepared the best you

can, there will ALWAYS be a certain degree of uncertainty. That's just the way it is. You

must always remember that you can't discover new lands if you're afraid to lose sight of

the shore.

You have to push through and go with your heart, even if it's beating uncontrollably fast.

Sometime in 1999, there was a movie called "3 Kings". In one scene in the lm, a young

soldier who was feeling afraid approached Sergeant Major Archie Gates (George Clooney)

with a question, and he replied, "The way this works is... you do the thing you're scared

sh*tless of, and you get the courage after you do it. Not before you do it."

Although quite crass, this statement is very true, and it applies across the board. If you're

worried that you may not have the skills to create a successful business, go ahead and do

it anyway. Then learn as you go along. You must have the faith to take the rst step even

when you can't see the whole staircase. The best way to put an end to your fear of the

unknown is to have faith.

You must believe in yourself and what you're trying to achieve.

Every day, countless people are hoping to start a business and make quick and easy

money. Most of them fail and quit. The road to success is paved with the crushed dreams

of the many who have tried and quit. They quit because they didn't believe in

themselves, and they let fear take over. Like John Stewart Mill said, "One person with

belief is equal to a force of ninety-nine who only have interest."

The next time you have doubts and fears, ask yourself why you're feeling them. Maybe

you've been making a stable income with your "side-hustle," but you're worried about

quitting your day job because of the security it provides. By asking yourself why you have

this fear, you'll understand that what you really fear is that you might have no money in

case your new business dries up.

Now you'll be able to make a plan of action to overcome this concern, such as saving up

enough money to last you six months in case of any unexpected setbacks. If you do not

analyze your fears and all you do is let them control you and hold you back, your life will

become stagnant, and in almost all cases, you will end up quitting. The only way to

progress is to keep moving forward no matter what setbacks you encounter along the

way.

2. The Fear of Failure

This is another major fear that paralyzes so many entrepreneurs from acting on their

goals and dreams. The fear of failure has stopped more people in their tracks than any

other fear. Usually, this fear is disguised in many different ways. If you're worried that all

your efforts will go to waste and that you will make no money, that's a fear of failure. Most

people say they just 'don't want to waste their time on something that won't work.'

The hard truth is that you'll never know unless you try. It may take you three years to

build a business that's making you six gures a year. But guess what? If the fear of failure

keeps you from trying in the rst place, you will never know what could have been.

The three years will go by, and chances are your life will probably be the same. Whereas if

you had moved forward with your goals, you just might be in the six- gure income

category. Many people fear failure because they are scared they will look foolish in front of

their friends and family or are worried about criticism from their peers.

In all reality, what others think of you should be the least of your concerns. You may

notice that when you try to better yourself and do things that others don't do, your

friends and family may even be your harshest critics. The truth is that by you making

progress and achieving your goals, you may inadvertently end up shining a spotlight on

their own failures.

It makes them feel threatened, and the only way for them to feel better is to drag you

down to their level so that the status quo can be maintained. This is a hard truth of life,

and by realizing that what others think of you does not actually affect you in any way, this

fear of looking foolish will disappear all on its own. Lao Tzu once said, "Care about what

other people think and you will always be their prisoner."

The best way to deal with the fear of failure is to ask yourself what could possibly go

wrong. Now plan out what countermeasures you can take to prevent your endeavors

from failing. Spend time visualizing yourself pushing past obstacles and succeeding.

Repeat this visualization process daily and even a couple of times a day. This will give you

faith and belief in yourself to keep going forward.

3. The Fear That You Are Not Good Enough

This fear usually arises when you have experienced a tough failure at a previous time in

your life. Many people do not do well academically while in school because they had no

natural af nity or interest in the subjects they were learning. The girl who was gifted at

art and writing may have failed at math and science and couldn't go further than high

school. This failure may make her feel like she can't succeed at anything in life even

though she has all the potential to be extremely successful.

The very wise Albert Einstein once said, "Everyone is a genius. But if you judge a sh by its

ability to climb a tree, it will live its whole life believing that it is stupid." The point of that

statement is that one should not judge themselves based on how they performed in

school or previous jobs. There are countless stories of people who failed many times and

nally succeeded beyond their wildest dreams once they found their true calling.

Never give up on yourself. Fortune favors the bold. Usually, when you're trying to build a

business, there will be a learning curve that you'll have to go through. This is inevitable.

You will make mistakes. You will hire the wrong person. You will purchase the wrong

products. And you will waste time and money. This is just part of the process and can't be

avoided. However, if you quit while at this stage because you feel like you're not good

enough, you'll NEVER get better.

You only get better as you keep learning and progressing. Many beginners look at super-

famous entrepreneurs and feel intimidated. They believe that the other guys are smarter,

richer, and better than them. Do not compare yourself with others. This is a huge mistake

and will always leave you feeling discontented. You may be comparing your beginning

with someone else's nish. It's not fair to you and you'll be doing yourself a disservice. All

you need to do is focus on being the best that you can be.

Here's the truth. Everybody started off as a beginner. You do not become successful

overnight. There is a journey that you have to go through, and go through it you must.

Fearing that you'll never amount to much will mean that you have given up before you

even started. You must have con dence. Chalk up every little failure that you encounter

along the way as a learning experience. You can't extrapolate from incomplete data. The

more you learn, the better you'll get.

The more mistakes you make, the better. Failure is not the opposite of success. It is a part

of success. You are good enough just as you are. You just need to believe it.

4. The Fear That You're Late or Too Old

This is another big one. You may have heard things like 'The good ol' days are over' or

'You're too old to start a business'… But are these statements even true? Of course not. While some types of businesses may come and go, being an entrepreneur is here to stay,

and every single day there are people, just like you, that are succeeding. It's never too

late to start, and now is as good a time as any.

You're also never too old to set new goals or dream new dreams. Stan Lee created his rst

hit comic close to his 39th birthday. Henry Ford was 45 when he created the Model T car. Ray Croc started MacDonald's at the age of 52, and Colonel Sanders was 62 when he

franchised KFC. As you can see, people have succeeded in life at all ages. You're never too

old. So cast this fear aside and pursue your dreams today.

"The best time to plant a tree was 20 years ago. The second best time is now." – Chinese

proverb

5. Limiting Beliefs

The fth and nal fear is actually not a "fear" at all but an incorrect belief pattern. There are

many people who have been held back from success because of their own beliefs about

what they are and are not capable of. This is because while growing up, we formed our

beliefs based on what we saw, what we heard, and what we were told.

One good example of this phenomenon is overweight people who feel that they're 'destined'

to be fat. Their parents, siblings, relatives, and everyone close to them is

overweight, so they buy into the story that they are naturally predisposed to obesity.

While to a certain extent it could be true because of genetic factors, the truth of the

matter is that food choices, eating habits, attitudes towards food, etc., are often passed

down from parents to the kids.

Because of this, all they ever knew about food and eating was what they saw and heard.

If they decided to eat clean, exercise more, and watch their calories, they'd most likely

lose the excess pounds and probably end up being the leanest person in their family. But

getting to this stage requires one to overcome their limited thinking and believe that

they are actually capable of achieving this.

The same applies to people who grew up in low-income families where the parents

expressed how hard money was hard to come by, or that rich people were evil and

greedy. With beliefs like these, their subconscious mind will not allow them to build

wealth because they wouldn't want to be evil and greedy, would they?

Overcoming your limited self-beliefs is a Herculean task, but it can be done. You will need

to be alert to the way you think and proactive in correcting yourself. Once you realize that

your only limit is you, your life will change, and you'll be able to conquer this obstacle. You

are worthy of success.

By now, you'll realize that fear is false evidence appearing real. The best way to conquer

fear is through action. Analyzing why you feel the way you do is helpful, but nothing

beats action when it comes to dispelling fear. Do what you fear most, and the fear will

vanish.

Never let your fear decide your future. Make a good plan, have contingencies in place,

and work your plan till you succeed. Even during the darkest hours, when everything

around you may feel like it's all about to collapse and all your fears are telling you that

you're about to fail, dig your heels in and keep pushing forward.

It's always darkest before the dawn. Keep going. You've got this!