Starting their own business is a dream that many people wish could come true. Although most people think it is the lack of resources, a challenging market, or some other significant factor that stops them from starting their own business, the truth is that fear of failure is the most common reason most don’t. In essence, the only thing that can hinder you from starting your business is YOU!
This is because entrepreneurship begins with taking calculated risks, accepting responsibility, and striving to turn the idea into reality. Until and unless you do not take a smart risk, you cannot initiate a business.
There is no perfect or ideal time for starting your business. Rather, you have to find the time to start it regardless. You don’t need permission from anyone. You are the only obstacle standing between your idea and its fulfillment. And, you are the only person who can turn your idea into reality and build a business you have always desired.
Consequently, there is no reason to wait for someone else to start your business, such as a digital agency, a bookkeeping, taxation firm, a bookstore, a real-estate company, and a photo studio. Here are the five most common yet biggest fears most people face that you must overcome to effectively land on the road to entrepreneurship.
Fear of Failure
According to psychologists and mind experts, the fear of failure is more bitter and unbearable than the loss of autonomy and the fear of separation. It is one of the leading factors stopping you from starting your business.
To overcome this fear, you have to redefine the meaning of success. You have to realize that a decent job with handsome pay and so-called financial security with employment is not the definition of success. Rather, chasing your dreams and achieving your goals is a real success. Once you realize it, you will begin working towards your dream instantly.
There may be a voice in your head repeatedly telling you that no one would take your idea seriously. Rather, your idea is a poor thought that can barely produce fruitful results. The voice may also be reassuring you that your current job is a necessity, at least for now.
To conquer the fear of inadequacy, spend time with entrepreneurs who are naturally confident and go through their past and present successful biography, telling you how they transcended their fear. You will know that successful entrepreneurs think of success, networking, and confidence instead of inadequacy, insecurity, and unworthiness, common with others who only dream of having a business. Once you realize the truth, your fear of inadequacy will diminish, thus starting your business will become easier for you.
The fear of ridicule and rejection can be more damaging than the fear of failure. Being anxious about what others will think and how you could be embarrassed is another factor stopping you from starting your business.
Once you start taking steps towards initiating your business, you will be surprised to see that people will incredibly encourage and support you. They will appreciate your idea and efforts instead of criticizing you for your bold step. Also, many people will rally to join your venture.
Poverty is another big fear stopping you from starting your business, especially with individuals who have grown up in a low-income family and worry that they would stay poor if they do not have a secure job. For them, compromising on the job is like inviting poverty into their life.
To overcome the fear of poverty, you must realize that you have to sacrifice something to ‘gain’ something. A closed fist cannot hold anything. It would be best if you opened your palm to get anything special.
The self-contemplated sense of separation from your resources and even very close relationships for working towards your dreams is another factor stopping you from becoming an entrepreneur. On the contrary, starting your business begins with taking the first step alone, and then you will find many others following in your footsteps. Remember, even if your first attempt to fulfill your dream fails, you will know who your real friends are and see the true face of life. Once you know who is always with you, equally in your good times and bad times, it will certainly help you fulfill your dream. With that in mind, take the first step!About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.