Common Fears When It Comes to Starting a Business

business meeting

Those considering starting a business may have a combination of fears that keep them from making the jump. Do you have strong enough financial backing? Is it worth leaving a secure job to pursue starting your own business? Do you have the skills needed to be successful? Will you have the support of your family?

The questions, doubts, and fears can get out of control. They can prevent you from attaining something you’ve likely spent years thinking about. They can stop you from achieving your goal.

Here are some ways to help you get over your fears and start a business.

Conquer the fear of failure

Look, fear of failure is not uncommon. In fact, there’s a scientific term for it. It is called atychiphobia. The fear of failure is so widespread, business-related magazines, like Forbes, have done articles on it and have provided tips on overcoming it. Motivator, life-coach, and teacher Tony Robbins has always taught that fear of loss is more powerful than the desire for gain. He also views fear as one the major factors in life and in business that hold us back.

Once you understand that fear is common and it can be overcome, let your determination take over. Remember, if you want to be successful in business, conquering the fear of failure is just the start.

If you were absolutely happy at your current job, you probably wouldn’t be considering starting your own business

Many avoid starting a full time business because they don’t want to lose the income and comfort of their present job. The fact is, if you were absolutely happy in your present situation you likely wouldn’t be thinking about becoming your own boss.

Something is wrong or missing from your present job if you want to start your own business. Embrace it. As long as you have a strong business plan, go for it.

Don’t be afraid to ask for help

Many burgeoning entrepreneurs feel like they have to have all the answers and do everything themselves and get stuck when they feel like they don’t know every minute detail. That is a big mistake on many levels. No new business owner can be expected to know all the current tax laws, human resource requirements, the latest marketing techniques, manufacturing prices, and more. You are going to need help to be successful.

There is plenty of assistance that is free. Don’t be afraid, however, to invest in professional assistance. Determine what you know and take the time to decide the areas where you need support. Don’t even think about going it alone.

Remember the times when you succeeded

It’s said success breeds success. Remember the times in your life when you succeeded. Maybe it was in getting that first job or when buying that first car. Perhaps it was getting your college diploma or even simply proving someone wrong. It may have even been summoning up the courage to ask that person to be your spouse.

Think about the times you overcame obstacles and fears, and how you benefited from it. It can be the fuel you need to conquer whatever fear may be stopping you.

They say there are no guarantees. There are.

They say that in business, there are no guarantees. That’s not exactly correct. While there may be no guarantee your business will be successful, it is guaranteed that if you don’t start your business, it never will even have the chance to be a success.

If you own or are considering starting a business in the Plano, Texas, area we can help. Contact us today and let’s talk about how you can get to the next level.

Please be advised that nothing in this post constitutes legal advice. Every situation is different and consultation with an attorney is recommended to evaluate your specific needs. This post also does not create an attorney-client relationship with Saraiya Pllc or any of its attorneys. An attorney-client relationship can only be formed after a consultation with one of its attorneys, the firm has run a conflicts check, and a legal services agreement has been fully executed by you and Saraiya Pllc.
Bimal Saraiya
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