As an entrepreneur, your work probably inspires a variety of feelings throughout the day, including excitement, pride, happiness, and … anxiety, stress and fear. Thoughts like “Will I be successful?” “How will I get funding for this idea?” and “I’m not sure I really have what it takes” are not only signs of business fears, they are also defeating statements that can derail your success.
Fortunately, you do not have to live a business life ruled by fear. You can overcome them by learning a number of tips and techniques, including the following:
Recognize that Everyone Has Fears—You Are Not Alone!
Most everyone suffers from some type of fear, notes Forbes. Sadly, these unpleasant thoughts can paralyze us into inaction and indecision. Unfortunately, many people feel it is unacceptable to talk about their fearful feelings, mainly because they think they will be perceived as weak or ineffective. In reality, everybody is fearful of something, so you are far from alone. If you really want to accomplish something, like finally opening that small business you have dreamed about for years, don’t let fear of the unknown stop you—you may feel sick to your stomach at times, but channel that negative energy and let it propel you forward.
Practice Makes Perfect
If there is a specific angle to your business life that makes your palms sweat, a great way to get past this is to practice it—over and over. For instance, if you have a real problem with talking on the phone with people you don’t know—a common scenario when you own a small business—force yourself to order takeout food over the phone instead of online, call companies with questions about their products, and find a friend who is willing to pose as a new vendor and role play a phone conversation with him or her.
Or, if you are nervous about sales or marketing work, look for opportunities to practice these skills with the help of a large company that will have your back. For example, Amway has worked with countless aspiring entrepreneurs for decades—you can set up your own business with the company and work as an Independent Business Owner, selling its wide range of quality products. If you’ve heard any rumors about Amway being a pyramid scheme, rest assured that they are completely untrue.
Listen to Feedback to Improve Your Company
If the fear of not getting funded or having to close your company due to lack of money keeps you up at night, recognize that short-term failures are inevitable. Pitching your idea to angel investors, banks and venture capitalists is an incredibly stressful situation—one that will probably result in more rejections than approvals. Instead of throwing in the towel after a few unsuccessful applications for funding, listen to the feedback that you get from these investors. Accept that, as experts in the business, they have plenty of experience and they are not trying to dissuade you, but help you. Make changes to improve your business and/or product idea—this will not only help you overcome your fear of negative feedback, but it may result in getting funded sooner rather than later.
You’ve Got This!
Business-related fears are super common, but they do not have to rule your life. By first deciding that you will channel the scary feelings associated with your fears into the momentum you need to move forward and then finding ways to practice any shaky skills and accept construction criticism, you will help eliminate some significant fears while watching your small business take off.