Want to be successful entrepreneur? First you need to beat these 10 fears

Want to be successful entrepreneur? First you need to beat these 10 fears
“According to most studies, people’s number one fear is public speaking. Number two is death. Death is number two. Does that sound right? This means to the average person, if you go to a funeral, you’re better off in the casket than giving the eulogy.” - Jerry Seinfeld While Jerry Seinfeld was making a joke, he is also making a statement, like good comedy often does. Many times in life we are held back by things that should not have any power over us, whether it’s embarrassment, fear of what others might think of us, or simply a fear of failure. These fears can quickly become seemingly impenetrable barriers. But guess what? These barriers only really exist in your head. To be an entrepreneur in any field is not without risks, but making calculated risks and learning from your mistakes while still moving forward is very different to being crippled by fears and insecurities. Fear can be a form of self-preservation, but it’s also counterproductive. An entrepreneur does not want to preserve their current way of life. They want things to grow - to be bigger and better, so don’t let risk scare you. So what are the 10 fears that every entrepreneur needs to beat if they want to be successful?

1. The Fear of Starting on a New Journey

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It’s perfectly natural to be afraid of something new, particularly something that involves an entirely new routine, and this explains why so many children burst into tears when their parents say goodbye to them on the first day of school. It’s difficult and yet important to remind yourself that you want, and indeed, crave the new. You want the success and freedom that your entrepreneurial goals represent, and it’s vital to focus on this desire.


2. Taking a Risk: The Fear of Failure

There’s no success without risk. While most entrepreneurial journeys are, to a certain extent, taking a gamble, you should see yourself as taking a calculated risk. Your goals should be clear, planned out, and your expectations for growth should be realistic. While you shouldn’t dismiss the reasons why you might fail, you should plan and believe in yourself to the point that these reasons won’t eventuate. Your failures will hopefully be minimal, will not derail your overall ambitions, and will offer you a chance to learn.

3. The Fear of What Other People Might Think

Should you care what other people think? Generally speaking, you should not. So maybe you want to style your hair in a certain way and other people might think it looks silly. Who cares? You know you look great. It’s the same when setting up any kind of entrepreneurial endeavour.

Your own self belief is your strongest tool for success. Don’t allow other people’s expectations to govern your ambitions. You should welcome constructive criticism, but dismiss outright negativity.

4. The Fear You're Making the Wrong Decision

How will you know it’s all going to work out? Well, you don’t. It’s as simple as that. The success of your goals is not a given, but think of the alternative. If you don’t try, you will always be thinking about what could have been. Surely this would be infinitely more frustrating than worrying about whether you’re making the wrong decision? At least when you make a go of it yourself, you have control over your own path to success.

5. The Fear You Don't Have Enough Experience

Perhaps you don’t have a lot of experience in your intended field, but this doesn’t have to hold you back. A successful entrepreneur is resourceful, adaptable, and this equates to being good at learning on the go. A lack of formal education doesn’t need to hinder you either. We live in the age of information, and exhaustive resources on any topic imaginable is just a Google search away. Read, research, and arm yourself with knowledge. This will go a long way to overcome any fears you might have about your lack of experience.

6. The Fear of Financial Disaster

The fear of failure is made worse by worrying about the financial implications. The fear gets worse when you worry about not being able to provide for your family. Any financial losses should very much be a calculated risk, and you should have enough money to cover yourself should you take any missteps in the early stages of your journey. A good business plan can mean that these missteps are less likely to happen. Remember that entrepreneurial success can represent financial freedom, so the end result is definitely worth the financial outlay and any potential loss. Save up and have enough money in your war chest so that a financial loss will be an inconvenience, rather than a disaster.


7. A Lack of Belief in Yourself

All your fears and insecurities can culminate in an overwhelming lack of belief in yourself. It might sound somewhat new age, but the power of positive thinking is vital to instilling a strong sense of belief in yourself. Keep your eye on the prize, along with everything that it represents, and those doubts will fade away. Overcoming your self-doubt allows you to achieve in all areas of life, not just with your entrepreneurial ambitions. Timothy Ferriss, noted entrepreneur and author of The 4-Hour Work Week perhaps said it best: “What we fear doing most is usually what we most need to do.”

8. The Fear of Getting out of Your Comfort Zone

The comfort zone is unsurprisingly, rather darn comfortable. You follow a set routine, you know what’s going to happen each day, and there’s the security of the regular payday that this sort of lifestyle provides. But familiarity breeds contempt, and you don’t want to ever be in the position of resenting yourself for not challenging yourself. The comfort zone is not without its charms, but an entrepreneur is driven by their ambitions, and it’s a case of wanting the best for yourself, rather than a life that is “sufficient.”

9. The Need for Everything to Be Perfect

You’re not psychic, and while you can rightly believe that you will find success, you can’t see every bump in the road. A structured business plan is vital, and it’s also important to present a sense of professionalism. Even if behind the scenes, your operations are a little hectic, your clients and potential clients should see a polished exterior. This is as simple as setting a service agreement for yourself with regards to returning phone calls and emails within a set timeframe. While things might not be running smoothly, if you maintain a high level of professionalism, only you will know. This is also related to learning on the go, and allows you to identify ways to improve your business processes.

10. The Fear It Will Take over Your Life

Great success takes great effort, and great effort takes a great deal of time. In its infancy, your entrepreneurial ambitions can take over your every waking hour. Remember the value of maintaining a work/life balance - working to live, instead of living to work. Having said that, the amount of effort you’ll need to put in can take over your life, but be mindful that this is a temporary thing. As your business endeavour reaches certain milestones of success, you can begin to delegate responsibilities, and take less of a hands on role. You could also have the plan of growing a business to the point that it becomes lucrative enough to sell - allowing you to rest for a while before moving on to another entrepreneurial goal.

Fears can certainly be a barrier to any budding entrepreneur, but these barriers can be broken. Without some serious barrier breaking, your entrepreneurial goals will be nothing more than unfulfilled dreams, which will be an unending source of disappointment. Sure, you could easily stay in your comfort zone, but for a true entrepreneur, this can be a fate worse than death. Maybe actual death truly is the number two fear for some people...

(The author is David Kovacs an entrepreneur and a performance-driven digital marketer. David worked with businesses that range from Fortune 500 companies to start-up ventures. He also runs a Travel SEO agency that helps growing travel businesses profit from online marketing with #1 page rankings.)