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To Be An Entrepreneur, Overcome These 6 Fears

To Be An Entrepreneur, Overcome These 6 Fears

Many people dream of becoming an entrepreneur, but they often don’t realize their dream due to the fears associated with it and their inability to overcome them. Regardless of how potentially brilliant your idea may be, it means nothing if you cannot find the courage to overcome these six fears:

1. Fear of risk and failure.

If you wish to do anything of substance you must be able to overcome the fear of both risk and failure.

Mark Organ, a successful CEO of a marketing software firm, once said:

There is no way for an entrepreneur to make a living without taking risks.

With risk come greater and more fruitful rewards. People often see risk as a negative, but it should be embraced. Rather than avoiding and hiding yourself from it, you should understand it and take steps to mitigate it.

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With risk comes failure, yes, but failure presents opportunity! You will never give yourself the opportunity to succeed as an entrepreneur if you do not embrace the possibility of failure.

2. Fear of what others around you will say.

We live in a world where people enjoy the failures of others rather than their successes. Being afraid of others waiting for you to fail can often makes it difficult to succeed.

This scene from The Pursuit of Happiness says it perfectly.

An entrepreneur will face many criticisms from friends and those close to them, so it’s important to believe in yourself and what you’re trying to achieve, or else you have no chance of being an entrepreneur.

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3. Fear it’s the wrong decision.

A common fear that holds back many potential entrepreneurs is that of making the wrong decision.

People who aspire to become entrepreneurs often have full-time jobs already, but they’ve always wanted to work for themselves. People fear that if they give up their job and open themselves up to a less than secure future, they will regret it.

If you find it tough to get over the idea that striking out on your own is the wrong decision, there are ways you can feel more confident. Do market research on your idea’s profitability, talk to mentors and other successful entrepreneurs, test your product on focus groups and create a business plan to give yourself the best chance to succeed.

4. Fear you lack the experience or expertise.

The fear that you are uneducated or inexperienced is natural for the first time entrepreneur. People see all these successful individuals with extensive resumes and say to themselves “I can’t I do this!”

But you can.

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Richard Branson once said:

The best way of learning about anything is by doing.

Many of the most successful entrepreneurs in the world struggled with formal education. It is not a prerequisite for starting a business to be formally educated, so why limit yourself because you lack a college degree? Take a chance! If you’re passionate about what you’re doing, that alone will take you further than any diploma.

5. Fear you will be financially ruined.

Financial insecurity is an understandable fear for the entrepreneur to have. It takes a lot of courage to put your savings and lifestyle on the line so that you can follow your dream.

According to the Wells Fargo/Gallup Small Business Index, most small businesses are started with around $10,000 from their founders’ personal savings. Avoiding copious amounts of debt and stretching every penny in the start-up stage of your business will help you avoid additional risk of financial insecurity.

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You can also limit your financial imbalance by being prepared. A business plan, along with progress reports and sales forecasts will help map the direction of your business and ensure that you stay on track.

6. Fear it will consume your life.

Starting your own business takes a lot of time and hard work if it is to have any chance of success. It is important to become familiar with and accept this before taking the step into entrepreneurship.

Your business will need your attention and this can take time away from family and friends. Try to find aspects of the business that you can delegate to others and try to make your business processes as easy and as manageable as possible.This will reduce your workload so you can find time to spend with friends and family.

If you are considering taking the leap and becoming an entrepreneur, be prepared for hard work. Keep pushing forward and take any opportunity to give yourself a pat on the back to keep up your morale. Keep yourself motivated and you will surely be successful as an entrepreneur.

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Last Updated on June 19, 2019

6 Ways to Be a Successful Risk Taker and Take More Chances

6 Ways to Be a Successful Risk Taker and Take More Chances

I’ve stood on the edge of my own personal cliffs many times. Each time I jumped, something different happened. There were risks that started off great, but eventually faded. There were risks that left me falling until I hit the ground. There were risks that started slow, but built into massive successes.

Every risk is different, but every risk is the same. You need to have some fundamentals ready before you jump, but not too many.

It wouldn’t be a risk if you knew everything that was about to happen, would it? Here’re 6 ways to be a successful risk taker.

1. Understand That Failure Is Going to Happen a Lot

It’s part of life. Everything we do has failure attached to it. All successful people have stories of massive failure attached to them. Thinking that your risk is going to be pain free and run as smooth as silk is insane.

Expect some pain and failure. Actually, expect a lot of it. Expect the sleepless nights with crazy thoughts of insecurity that leave you trembling under the covers. It’s going to happen, no matter how positive you are about the risk you are about to take.

When failure hits, the only options are to keep going or quit. If you expect falling into a meadow of flowers and frolicking unicorns, then you’re going to immediately quit once you realize that getting to that meadow requires you to go through a rock filled cave filled with hungry bats.

2. Trust the Muse

Writing a story isn’t a big risk. It’s really just a risk on my time. So when I start writing a story, I’m scared it will be time wasted. Of course, it never really is. Even if the story doesn’t turn out fabulous, I still practiced.

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When I’ve taken risks in my life, the successful ones always seemed to happen when I followed the muse. Steven Pressfield describes the muse,

“The Muse demands depth. Shallow does not work for her. If we’re seeking her help, we can’t stay in the kiddie end. When we work, we have to go hard and go deep.”

The muse is a goddess who wants our attention and wants us to work on our passion.

If you’re taking a risk in anything, it’s assumed that there is some passion built up behind that risk. That passion, deep inside you, is the muse. Trust it, focus on it, listen to it.

The most successful articles and stories I write are the ones I’ve focused all my attention on. There were no interruptions during their creative development. I didn’t check my phone or go watch my Twitter feed. I was fully engaged in my work.

Trust the muse, focus your attention on your risk, let the ideas and path develop themselves, and leave the distractions at the side of the road.

3. Remember to Be Authentic

Taking a risk and then turning into something you’re not, is only going to lead to disaster. Whether you are risking a new relationship or new opportunity, you must be yourself throughout the entire process.

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How many times have you acted like you loved something just because the men or woman you just started going out with loved it?

For example, I’m not an office worker. I have an incredibly hard time working in a confined timeline (ie. 9-5). That’s why I write. I can do it whenever the mood strikes, I don’t have somebody breathing down my neck, telling me that I’m five minutes late, or missed a comma somewhere. I don’t have to walk on eggshells wondering if what I’m writing will get me fired or make me lose a promotion. I can just be myself, period.

One girlfriend didn’t understand that. She believed solely in the 9-5 motto, specifically something in human resources because that was a very stable job. I was scared for my future, but I stuck with the relationship because of my own insecurities and acted like I would do it to make her happy.

Here’s a tip: NEVER take away from your happiness to make somebody else satisfied (note I didn’t say happy).

Making somebody else happy will make you happy. Doing something to satisfy somebody is murder on your soul.

4. Don’t Take Any Risks While You’re Not Clearheaded

I’d been considering the risk for a couple weeks. It all sounded good. I was 22 and I could be rich in a couple of years. That’s what they were selling me, anyways.

One night, while at a house party with some friends, I found myself at a computer. A couple of my friends were standing nearby and asked me what I was doing. I told them I was considering starting my own business and it was only going to cost me $1,500.

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Of course, when a bunch of drunk people are surrounded by more drunk people, things get enthusiastic. It sounded like the best business venture in the world to everybody, including me. So I signed up and gave them my credit card number.

A few painful months and close to $4,000 dollars lost later, I quit the business. I was young and fell into the pyramid scheme trap. It was an expensive drunk decision.

Drinking heavily and making decisions has a proven track record of failure. So when you have something important to decide, don’t let your emotions take over your brain.

5. Fully Understand What You’re Risking

It was the start of my baseball comeback. I got a tryout with a professional scout and killed it. After the tryout, he talked to my girlfriend and myself, making sure we understood I would be gone for up to 6 months at a time. That strain on the relationship could be tough.

We understood. I left to play ball, chose to stay in the city I played in, and a year later we broke up. Not because of baseball, see point 3 above. Taking big risks can have massive impacts on everything in your life from relationships to money. Know what you’re risking before you take the risk.

If you believe the risk will be worth it or you have the support you need from your family, then go ahead and make the leap.

You can get more guidance on how to take calculated risks from this article: How to Take Calculated Risk to Achieve More and Become Successful

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6. Remember This Is Your One Shot Only

As far as we know officially, this is our one shot at life, so why not take some risks?

The top thing people are saddened by on their deathbeds are these regrets. They wish they did more, asked that girl in the coffee shop out, spoke out when they should have, or did what they were passionate about.

Don’t regret. Learn and experience. Live. Take the risks you believe in. Be yourself and make the world a better place.

Now go ahead, take that risk and be successful at it!

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Featured photo credit: Unsplash via unsplash.com

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