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3 Ridiculously Easy Steps to Creating an Unstoppable Business Idea

3 Ridiculously Easy Steps to Creating an Unstoppable Business Idea

If I had a dime for every time I heard someone say “I want to start my own business…but I just don’t have a good idea”, I’d be so rich that I’d spend my days sipping overpriced cognac and smoking pre-embargo Cuban Cigars and making stodgy, incomprehensible jokes that only rich people find funny (“…and he took $5 million out of the QTIP trust and bought puts on gold! Ha!”), and as such probably not writing this article.

So consider yourself lucky I don’t get paid when I hear that, lest you be unable to bask in the wisdom that I am about to impart.

    My cigar-smoking fantasies aside, it’s actually a bit concerning how many people think it’s really hard to come up with a good business idea.  Veteran entrepreneurs all know that coming up with an idea is basically the easiest part; but you do need to start with an idea.

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    And starting with an idea I shall help you do.

    One of the big reasons you have trouble coming up with a good idea is because “you don’t know if it will work”, right?

    Luckily, in 3 ridiculously simple steps, you can see how good your idea is, and make it stronger.  Here it goes:

    Step 1: Start with a broad idea

    Let’s say you want “a kick ass social network for cereal box collectors”.  I’d say “that’s really weird”, but this is your company, not mine.

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    And by the way, no “I can’t come up with one!” BS.  This is just a broad idea.  Think…think…there you go.

    Step 2: Write down 3 specific reasons your idea might not work

    Not a whine, not “because 90% of business fail!”; be intellectually honest, think about it for more than 7 seconds.  Relate them to your own abilities and relevant externalities.  For example:

    – “I don’t know how to code”

    – “I don’t know if there’s actually other cereal box collectors out there”

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    – “Even if there are other collectors, I don’t know if they need a social network”

    Step 3: Test your reasons

    I don’t want to steal any of Bill Nye’s thunder, but what we’re doing here is bringing you back to 7th grade biology and using the scientific method.  We’re turning your worries into testable hypotheses, and doing some ol’ fashion exploring to see if your worries hold true.

    You go out there and see if there’s a way to make a social network without coding.

    You mercilessly scour the far corners of the internet looking for cereal box collector communities.

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    You identify the “thought leaders” in the community, befriend them, and ask what they need.

    I spent about 12 seconds doing these tests, and here’s what I came up with:

    • You can make a social network without knowing how to code.  There’s quite a few ways to do it, but BuddyPress seems to be the most popular.
    • There are communities out there for cereal box collectors like you (just Google “cereal box collector”).
    • The community seems to be gathered around a few active forums.  Finding the community leaders would likely be very easy.  Just shoot them a quick e-mail with your idea, and ask “what do you think?”

    And voila, your idea awaits!

    What we did here was get specific about your idea.  Whereas most people worry that “their idea would never work”, you actually went out there and did something about it.  You’re now ready to move onto the next step: figuring how to execute.

    Or maybe you figured out your idea sucked.  That’s okay too.  But at least you made an informed decision, and unlike 80% of people, you actually tried to do something about it.

    Your idea’s probably more complicated than something like this, and that’s fine.  But the point stays the same: stop worrying, start testing, and repeat.  Watch your idea develop before your eyes.

    Featured photo credit: five travel about locomotive costing on rail via Shutterstock and inline photo by Tsahi Levent-Levi via Flickr (CC BY 2.0)

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    Last Updated on November 5, 2020

    Why You Have the Fear of Failure (And How to Overcome It)

    Why You Have the Fear of Failure (And How to Overcome It)

    Nobody enjoys failing. Fear of failure can be so strong that avoiding failure eclipses the motivation to succeed. Insecurity about doing things incorrectly causes many people to unconsciously sabotage their chances for success.

    Fear is part of human nature. As an entrepreneur, I faced this same fear. My ego and identity became intertwined with my work, and when things didn’t go as planned, I completely shut down. I overcame this unhealthy relationship with fear, and I believe that you can, too.

    Together we’ll examine how you can use failure to your advantage instead of letting it run your life. We’ll also look at how to overcome fear of failure so that you can enjoy success in your work and life.

    What Is Fear of Failure?

    If you are afraid of failure, it will cause you to avoid potentially harmful situations.

    Fear of failure keeps you from trying, creates self-doubt, stalls progress, and may lead you to go against your morals.

    What causes a fear of failure? Here are the main reasons why fear of failing exists:

    Patterns From Childhood

    Hyper-critical adults cause children to internalize damaging mindsets.[1] They establish ultimatums and fear-based rules. This causes children to feel the constant need to ask for permission and reassurance. They carry this need for validation into adulthood.

    Perfectionism

    Perfectionism is often at the root of a fear of failure.[2] For perfectionists, failure is so terrible and humiliating that they don’t try. Stepping outside your comfort zone becomes terrifying.

    Over-Personalization

    The ego may lead us to over-identify with failures. It’s hard to look beyond failure at things like the quality of the effort, extenuating circumstances, or growth opportunities.[3]

    False Self-Confidence

    People with true confidence know they won’t always succeed. A person with fragile self-confidence avoids risks. They’d rather play it safe than try something new.[4]

    How the Fear of Failure Holds You Back

    Unhealthy Organization Culture

    Too many organizations today have cultures of perfection: a set of organizational beliefs that any failure is unacceptable. Only pure, untainted success will do.

    Imagine the stress and terror in an organization like that. The constant covering up of the smallest blemishes. The wild finger-pointing as everyone tries to shift the blame for the inevitable messes onto someone else. The lying, cheating, falsification of data, and hiding of problems—until they become crises that defy being hidden any longer.

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    Miss out on Valuable Opportunities

    If some people fail to reach a complete answer because of the lure of some early success, many more fail because of their ego-driven commitment to what worked in the past. You often see this with senior people, especially those who made their names by introducing some critical change years ago.

    They shy away from further innovation, afraid that this time they might fail, diminishing the luster they try to keep around their names from past triumph.

    Besides, they reason, the success of something new might even prove that those achievements they made in the past weren’t so great after all. Why take the risk when you can hang on to your reputation by doing nothing?

    Such people are so deeply invested in their egos and the glories of their past that they prefer to set aside opportunities for future glory rather than risk even the possibility of failure.

    High Achievers Become Losers

    Every talent contains an opposite that sometimes turns it into a problem. Successful people like to win and achieve high standards. This can make them so terrified of failure that it ruins their lives. When a positive trait, like achievement, becomes too strong in someone’s life, it’s on the way to becoming a major obstacle.

    Achievement is a powerful value for many successful people. They’ve built their lives on it. They achieve at everything they do: school, college, sports, the arts, hobbies, work. Each fresh achievement adds to the power of the value in their lives.

    Gradually, failure becomes unthinkable. Maybe they’ve never failed yet in anything that they’ve done, so they have no experience of rising above it. Failure becomes the supreme nightmare: a frightful horror they must avoid at any cost.

    The simplest way to do this is never to take a risk, stick rigidly to what you know you can do, protect yourself, work the longest hours, double and triple check everything, and be the most conscientious and conservative person in the universe.

    If constant hard work, diligence, brutal working schedules and harrying subordinates won’t ward off the possibility of failing, use every other possible means to to keep it away. Falsify numbers, hide anything negative, conceal errors, avoid customer feedback, constantly shift the blame for errors onto anyone too weak to fight back.

    Loss of Creativity

    Over-achievers destroy their own peace of mind and the lives of those who work for them. People too attached to “goodness” and morality become self-righteous bigots. Those whose values for building close relationships become unbalanced slide into smothering their friends and family with constant expressions of affection and demands for love in return.

    Everyone likes to succeed. The problem comes when fear of failure is dominant, when you can no longer accept the inevitability of making mistakes, nor recognize the importance of trial and error in finding the most creative solution.

    The more creative you are, the more errors you are going to make. Deciding to avoid the errors will destroy your creativity, too.

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    Balance counts more than you think. Some tartness must season the sweetest dish. A little selfishness is valuable even in the most caring person. And a little failure is essential to preserve everyone’s perspective on success.

    We hear a lot about being positive. Maybe we also need to recognize that the negative parts of our lives and experience have just as important a role to play in finding success, in work, and in life.

    How to Overcome Fear of Failure (Step-by-Step)

    1. Figure out Where the Fear Comes From

    Ask yourself what the root cause of your negative belief could be.[5] When you look at the four main causes for a fear of failure, which ones resonate with you?

    Write down where you think the fear comes from, and try to understand it as an outsider.

    If it helps, imagine you’re trying to help one of your best friends. Perhaps your fear stems from something that happened in your childhood, or a deep-seated insecurity.

    Naming the source of the fear takes away some of its power.

    2. Reframe Beliefs About Your Goal

    Having an all or nothing mentality leaves you with nothing sometimes. Have a clear vision for what you’d like to accomplish but include learning something new in your goal.

    If you always aim for improvement and learning, you are much less likely to fail.[6]

    At Pixar, people are actually encouraged to “fail early and fail fast.”[7] They encourage experimentation and innovation so that they can stay on the cutting edge. That mindset involves failure, but as long as they achieve their vision of telling great stories, all the stumbling blocks are just opportunities to grow.

    3. Learn to Think Positive

    In many cases, you believe what you tell yourself. Your internal dialogue affects how you react and behave.

    Our society is obsessed with success, but it’s important to recognize that even the most successful people encounter failure.

    Walt Disney was once fired from a newspaper because they thought he lacked creativity. He went on to found an animation studio that failed. He never gave up, and now Disney is a household name.

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    Steve Jobs was also once fired from Apple before returning as the face of the company for many years. [8]

    If Disney and Jobs had believed the negative feedback, they wouldn’t have made it.

    It’s up to you to notice your negative self talk and identify triggers[9]. Replace negative thoughts with positive facts about yourself and the situation. You’ll be able to create a new mental scripts that you can reach for when you feel negativity creeping in. The voice inside your head has a great effect on what you do.

    How To Be A Positive Thinker: Positivity Exercises, Affirmations, & Quotes

      4. Visualize all Potential Outcomes

      Uncertainty about what will happen next is terrifying. Take time to visualize the possible outcomes of your decision. Think about the best and worst-case scenarios. You’ll feel better if you’ve already had a chance to mentally prepare for what could happen.

      Fear of the unknown might keep you from taking a new job. Weigh the pros and cons, and imagine potential successes and failures in making such a life-altering decision. Knowing how things could turn out might help you get unstuck.

      5. Look at the Worst-Case Scenario

      There are times when the worst case could be absolutely devastating. In many cases, if something bad happens, it won’t be the end of the world.

      It’s important to define how bad the worst case scenario is in the grand scheme of your life. Sometimes, we give situations more power than they deserve. In most cases, a failure is not permanent.

      For example, when you start a new business, it’s bound to be a learning experience. You’ll make decisions that don’t pan out, but often that discomfort is temporary. You can change your strategy and rebound. Even in the worst case scenario, if the perceived failure led to the end of that business, it might be the launching point for something new.

      6. Have a Backup Plan

      It never hurts to have a backup plan. The last thing you want to do is scramble for a solution when the worst has happened. The old adage is solid wisdom:

      “Hope for the best, prepare for the worst.”

      Having a backup plan gives you more confidence to move forward and take calculated risks.

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      Perhaps you’ve applied for a grant to fund an initiative at work. In the worst-case scenario, if you don’t get the grant, are there other ways you could get the funds?

      There are usually multiple ways to tackle a problem, so having a backup is a great way to reduce anxiety about possible failure.

      7. Learn From Whatever Happens

      Things may not go the way you planned, but that doesn’t automatically mean you’ve failed. Learn from whatever arises.[10] Even a less than ideal situation can be a great opportunity to make changes and grow.

      “Sometimes you win, sometimes you learn.”

      Dig deep enough, and you’re bound to find the silver lining. When you’ve learned that “failure” is an opportunity for growth instead of a death sentence, you conquer the fear of failure.

      For more tips on how to overcome fear of failure, check out the video below:

      Final Thoughts

      To overcome fear of failure, we can start by figuring out where it comes from and reframing the way we feel about failure. When failure is a chance for growth, and you’ve looked at all possible outcomes, it’s easier to overcome fear.

      Stay positive, have a backup plan, and learn from whatever happens. Your failures will be sources of education and inspiration rather than humiliation.

      “I have not failed. I’ve just found 10,000 ways that won’t work.” -Thomas A. Edison

      Failures can be blessings in disguise. Go boldly in the direction of your dreams and long-term goals.

      More Tips for Conquering Fear

      Featured photo credit: Patrick Hendry via unsplash.com

      Reference

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