Am I good enough? Am I doing the right thing? What if I fail? If these questions nag you from time to time from the back of your head, you should know that you are not alone. We all have fears and insecurities.
Not many people pass through life fearlessly. It is extremely difficult for entrepreneurs, because the risk in the startup life is very high, which increases the expectations and the pressure.
If you are an entrepreneur, you may find yourself in the unpleasant situation of your thoughts being dominated by worry. You may in times even engage in negative self-talk, especially when the path gets rocky. There should be a way to conquer these fears, liberate yourself from the worry, and live more focused and happier lives.
To conquer your fears, you need to face them; and to face your fears you need to specifically determine them. Here are five common fears that most entrepreneurs face and should overcome if they want to be successful:
Many entrepreneurs fear to make mistakes, which significantly slows down the growth of their businesses. Entrepreneurship is a risky business. The bigger the risk, the bigger are the chances of making huge mistakes.
Trying to avoid making mistakes no matter what can be exhausting and be limiting. Risk takers are the ones, who succeed. These, who aren’t afraid to fail, are more likely to achieve growth.
Making mistakes isn’t the worst part – not learning from the mistakes you make is what you should avoid. Instead of focusing on playing it too safe, focus on taking calculated risks and being more decisive.
Entrepreneurs worry about money, of course. To get your business off the ground, you need capital for it. The lack of money has killed so many great ideas, no wonder entrepreneurs fear it.
But nowadays there are so many funding options – from bank loans through VC and angel investment to crowdfunding. Instead of feeding your fear that money won’t be enough, focus your energy on improving your product, building a better team, networking with investors, and pitching your business.
Fear of failure
Failure is an inevitable part of success. The way startup owners handle setbacks from any scale shows their character and their ability to handle the roller coaster of building a business. Entrepreneurs, who try to avoid failure, sometimes play it too safe, don’t take risks and lower their chances of getting ahead in business.
As an entrepreneur, you need to make bold moves. The stakes are big, but the rewards are even bigger. If you are afraid of failure, entrepreneurship is not for you. Failure isn’t the end; the end comes when you give up. Failure can be used as a stepping stone to success – embrace it!
Fear of losing control
This is a tricky one. Of course, it feels nice to think that you are in control. The truth is we can’t control anything 100%. There is always something that could go wrong. We make mistakes along the way, which lead to consequences, not always pleasant ones.
Many entrepreneurs try to control everything, which actually slows them down. Micromanaging and refusing to delegate are two behaviors of highly-controlling entrepreneurs.
Understand that there will always be things that you can’t control, but what is more important, you can control the way you react to these things.
The Impostor Syndrome
The feeling that you are not enough, that you don’t deserve the success and the recognition that you get can be devastating. High-achieving entrepreneurs, who set the bar too high for themselves and look for perfection in everything they do, experience the “Impostor Syndrome” at some point. Learn more about it here.
If you don’t believe that you are good enough, why would other people do so? Great leaders believe in their skills and abilities to achieve great things, which is why they empower others. To succeed, you need to believe in yourself and keep moving past the Impostor Syndrome.