5 Tips to Overcoming the Fear of Starting Your Own Business

Starting your own business can be scary, but it doesn’t have to be. There are steps you can take to ensure that you’re setting yourself up to succeed instead of setting yourself up to fail. By following these 5 tips, you can start and grow your business the right way!

1) Cultivate persistence

It’s important to understand that no matter how much you want something or how much effort you’ve put forth, you will fail sometimes. It’s a critical part of growth, and if we don’t get right back up after falling, we will never succeed. Learn from your mistakes and keep going. This is one quality that successful entrepreneurs share: they are persistent in their pursuit of success. Once you know what it takes to succeed, never give up!

2) Know your reason for doing it

The first step to success is having a clear purpose in mind for your business. Even if you ultimately have multiple goals or directions for your company, it’s essential to identify one driving force. Why do you want to start a business? What are you trying to achieve by doing so? The clearer you are about what motivates you, why, and what you ultimately hope to accomplish with your business, the easier it will be to push through any fear of failure. Know your reason for not doing it: Another common reason people don’t pursue their dream is that they don’t know how to make money from them. They might not understand how an idea can become a viable business, or they may worry that there won’t be enough demand for their product or service to support themselves and/or others who depend on them financially. Sometimes people simply lack confidence in their abilities—or worse yet, they think that starting a new business would require years of training that they just don’t have time for right now.

3) Learn from failure

It is not a secret that, as part of the entrepreneurial journey, you are going to face a lot of challenges and disappointments. But how we learn from these situations is what matters most. Successful entrepreneurs were not born with a magic potion in their blood and they have failed many times on their way to success, but they have learned from failure and did not give up! Instead of concentrating on the fear of failure, make sure you learn from it and use it as motivation to persevere. You will surely be able to overcome your fears if you believe in yourself and remember that no one can succeed without failing first. So, don’t be afraid of taking risks, and don’t let your failures get you down; instead, turn them into something positive for your business!

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4) Just do it!

Write down the most compelling reason that you’re afraid and challenge yourself to reframe it. Ask yourself, what will I gain if I overcome my fear? You can also take action, however small, by following the path that scares you. For example, if you want to start your own business but are afraid of the risk (or failure), start a side hustle instead. Learn from your mistakes as you go—and remember that if things don't work out, it's all part of the journey. Don't allow fear or self-doubt to derail your career aspirations or dreams. If you’re ready for a change, find what motivates you, step into your fear and fight back with action!

5) Take action steps

In a survey, 95 percent of respondents said they knew someone who had started their own business but never followed through, while 84 percent agreed that it is hard to fail but even worse to never have tried to succeed. If you are still struggling with fear, keep working on your idea until it no longer triggers fear in you. Then and only then should you begin taking action steps. Remember, as long as your plan isn't creating more obstacles for yourself, there's no reason not to set it in motion! By taking small action steps each day, work will spread out into manageable projects and eventually become second nature for you. These small actions are all part of building momentum; over time those projects will build upon themselves creating positive change.