5 Common Fears Aspiring Entrepreneurs Face and How to Overcome Them

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Fear is a natural phenomenon. It is also the way Mother Nature alerts us of imminent dangers, although it could be conditioned. Most times, our fears are rooted in experiences we have witnessed or imagined and it could have a crippling effect on our growth as individuals. Being an entrepreneur comes with its own portfolio of fears since it involves taking risks and making decisions. Here are some fears common to aspiring entrepreneurs and how to rise above them:

  1. Change

Ever had a brilliant idea that might make you a successful entrepreneur but you end up doing nothing about it? Rather, you go back to your monotonous job instead of bringing your idea to life. If you replied yes, you are probably experiencing the fear of change. The first thing to know about fear is that it is mostly imagined. The only way to overcome this fear is by taking a bold step towards the direction of change. If you let your fears hold you back, you might spend the rest of your life in regret when you think of what could have been.

  1. Failure

“Failure is a part of success”, says countless motivational posts. Why don’t they ever talk about the emotional consequences of failing at something you really thought you were good at? A lot of people have been known to give up on their dreams of becoming entrepreneurs because they failed when they tried the first time. Some do not even try because they are scared of being judged if they turn out to be wrong.

There are two options here; you can either let the negative emotions that come with failure weigh you down or chin up, take the failure as a life lesson and use it to your advantage.

  1. Fear of Not Getting Funded

It’s really great when you conceive an idea, share it with others and they are impressed enough to believe and invest in your idea. Most times, this isn’t the case. Sometimes, even your loved ones will not share your vision and that is okay. The only person who needs to believe in your idea is you. You should believe in your idea enough to sell it to potential investors. Don’t let the fear of hearing no or not raising capital hold you back.

Work extensively on your research and pitch deck and be confident when pitching your idea to investors. You may need to pitch a few times to different people before you get the type of investor you want. Don’t let that discourage you. Pay attention to the feedback you get after pitching and use that feedback to improve on your next pitch. All you need is a “yes”, don’t let the numerous “nos” stop you.

  1. Inferiority Complex

Every entrepreneur wants to come up with a unique idea that leaves in people awe. Nobody wants to create anything that would be perceived as substandard or not good enough. However, a lot of aspiring entrepreneurs focus so much on getting everything right before starting out that they end up giving up altogether when things don’t work out the way they had planned.

Sometimes, it is better to start out as you are and scale up as your business grows. This allows you to have enough hands-on experience below your belt and also have enough feedback from your clients to work with. This way, you can even utilize your resources better.

  1. The Unknown

This is the most irrational fear aspiring entrepreneurs face. It is a mix of all the fears discussed above and is mostly in our heads.

The only way to overcome this is by diving right into it. Being an entrepreneur involves uncertainty. The only way through is to acknowledge and accept that fact. If you care about your idea enough, you will get through the challenges that creep up.

Everything you want is on the other side of your fears.

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All images from Pixabay.

Author: 234 Finance

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