One of the biggest fears people share with me is their fear of failing. This fear is more common than you think among entrepreneurs and when we finally overcome it, and the constant worry and self-doubt that come with it, magic begins to unfold.
Easier said than done, right?
What if I fail and lose everything? What if I have to file for bankruptcy? What will my friends think? What will my family think? How will I support myself? My family?
I bet these thoughts have entered your mind more than a few times, and maybe they’ve even kept you paralyzed and overwhelmed – stuck in fear instead of making progress on your dreams.
I scrolled through the Internet to see what other entrepreneurs had to say about the fears they had to overcome in order to sustain their business. I put together a round up of fears every entrepreneur must conquer in order to fully embrace the prosperity, confidence and abundance that is out there for him or her.
Let’s dissect these fears together, so they no longer have an attachment to you…(You can see a full list here)
#1 Fear of Failure
I haven’t met one person yet, that doesn’t have this fear at one time or another in their life – its part of being human. But what we need to be aware of is how fear affects our day-to-day decision-making. It used to come to me when I took tests – I HATED STANDARDIZED testing in school, because I’m not standard, and I suspect if you’re on this blog page, you’re not either! These tests made me highly anxious, and didn’t measure emotional intelligence, which is where my strengths lie. So what is it about failure that people are so scared of? The key here is to stop allowing your fears to control you, write out the worst case scenarios and run them through your head…
“Ok so what if I did fail? What would happen?” – chances are you’re not going to end up homeless and in a gutter; you’re going to pick yourself up and try again! Because that’s what we have to do, trust me, this isn’t the first business I’ve started, and I’m sure it won’t be the last. As an entrepreneur, I’m continually creating new product and services to serve the health of humanity and planet. Once you make this list, look at it. Allow it to resonate and let go of the “What ifs” and start to embrace the NOW. Right now, you can choose to be run by your fears, or you can choose to stare your fears in the face and say, “you’re not real!!”
#2 Fear You Don’t Know Enough
This is another common fear in the entrepreneurial world. There’s another name for it, “Imposter Syndrome.” I’ve been there! Even with 2 M.A degrees, over 500 hundred hours of Yoga teacher training, Raw food chef training, level 3 Reiki certifications, travel to 40+ countries, etc. I still felt I didn’t know enough, I needed more trainings under my belt to serve others, I’m not good enough….etc. If you’ve ever had this fear, or still suffer from it, you’re not alone. Don’t be afraid to reach out to mentors who have the skills you’re lacking. You don’t have to do everything yourself, and in fact outsourcing things that you’re not good at, will help you stay focused on what you are good at, and serving your clients. Vs. worrying about all the things you don’t know, focus on what you do and go from there. Get help along the way so that you can be as efficient as possible within your business.
#3 Fear of Taking on Business Expenses
I’m sure you’ve heard the saying, “Put your money where your mouth is.” The difference between dreamers and action takers in business is that those action takers put skin into the game. Which helps light the fire under your buns, signaling it’s time to GET GOING! Yes, putting your own money into your business will feel SCARY & it’s a RISK. But unless you commit to growing your business, and you’ll need some sort of cash flow to get it off the ground. Think of your business as a newborn child, you’re going to have to invest more time and resources into it than you originally intended, so be ready and have multiple streams of income lined up in the beginning to support the upfront costs it will take to launch and market your business.
#4 Fear of Taking Risks
While we’re on the subject of fearing business expenses, let’s talk about taking risks. First off, being an entrepreneur is a RISK. And not everyone is cut out for it. It might be part of your journey to launch a business, fail, learn from your mistakes and go back to working for someone else, because it’s “easier” (and for some this is true, working for someone else is so much easier!). But if you’re in this for the long haul, and it doesn’t matter how many times you fail, as long as you learn from your failings, then you’ll have to get used to taking risks.
But don’t fret! There’s a difference between dangerous risks, like gamblers, betting on something that isn’t proven, and taking calculated risks. With a calculated risk, you have strategized and you move toward your goal in incremental steps, carefully assessing your level of investment and overhead until you’re assured your business will support more. Calculated risks are key to every success. Get used to making them!
#5 Fear that You’re Not Good Enough
Self-doubt can be overwhelming, especially when it creeps into our subconscious and starts to rule our reality. The truth is, we’re our own biggest critics, and we look at ourselves more critically than others look at us. Our sensitivities are magnified when we’re looking at ourselves through the lens of self-doubt. This fear also relates to #2 and can also be called, “Imposter Syndrome.” The number one thing you must remember is that you are good enough. You are a spark of light waiting to lead & serve others with your business. You must overcome your demons of self-doubt to shine brightly so that others can see the way. Do not let these insecurities get the best of you, follow your intuition, your inner guide that knows what you’re here to do.
Ok so now that you know the top fears of your fellow entrepreneurs, let’s take action on overcoming these common fears so that you can keep moving forward with confidence.
Here’s what I want you to do, right now. It will take you 10 minutes or less.
1.) Write down your top 5 fears and list what would happen if these fears came true – like I’m talking write out your worst case scenario
2.) Look at your worst case scenarios and imagine yourself in them, would it really be that bad? What sort of help could you receive from others if you were in this situation? Write that down. Also, research and write out your options once you were in your worst case scenarios. Like, if I was afraid of going bankrupt, I’d right out…
- It would be 7 years until bankruptcy is off my financial record and I can apply for credit cards & a business loan again
- I could still keep/start a business as a sole proprietor
- I’d borrow money from family//Sell things//tap into Crypto Currency funds//Mutual Funds to get started again
You get the picture, right?
3.) Once each fear stops holding negative energy and you can imagine yourself moving from your worst case scenario space, the attachments to this fear and the “what-ifs” start to lift from your shoulders & lose their weight. This release and opening will allow you to fully let go of worry & fear, so that you can focus on the prosperity & confidence you’re building into your life through your business.
Write in the comments below one of your fears are and how you’re overcoming them?
Remember, I’m here for you. Don’t hesitate, ever, to reach out for support. This entrepreneurial journey gets a whole lot easier when we have professionals on our side.
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