Many people think about starting a business but few people do it. For some, they realize that they don’t have the time, funds or the passion required which are all legitimate reasons to not move forward. But for many others, fear is the main reason they don’t take the leap. Below is a list of common fears about starting a business
1. I will fail – absolutely, you might fail. And the good news is, everyone we consider a success has a string of failures in their wake. Michael Jordan has said “I fail over and over again in my life and that’s why I succeed”. Thomas Edison’s said of his efforts to make the lightbulb “I have not failed. I’ve just found 10,000 ways that won’t work.” As we observe greatness, in business or individuals, we don’t get the privilege of peeking behind the curtain to see all the messy versions and big mistakes – we just see the polished finished product and think “I could never do that”. Practice + time = improvement. Do your research, make a plan for your business and practice your craft. It doesn’t guarantee success, but not trying will guarantee failure.
2. I will embarrass myself – “everything went perfectly” said no startup owner ever. You can bet mistakes will be made and some of them will be embarrassing. And the good news is, embarrassments, while painful in the moment, offer tremendous learning and make for hilarious stories several months (years?) down the road.
3. I’m not good enough yet – if you are an aspiring interior designer with a few kitchen renovations in your portfolio, no Oprah is probably not going to hire you to redecorate one of her homes. The good news is, if those kitchen renovations appeal to the tastes and price points of people in your zip code, you are good enough. There is always room for improvement (so always be learning!) but there is also a lot of different market needs and they don’t all demand the highest level of education and accomplishment. Start where you are and find the market that wants what you can do, right now.
4. I can’t do it all – for those who have started to research all it takes to launch a business, a sense of overwhelm may take over. With so many things to do and so much to learn, some give up before even considering a company name. Yes, there’s lots to do. The good news is, if you have ever gone to a new school, moved to a new city, or started a new job, then you have successfully handled learning a lot of new things and adapting to new demands. You have done this before and you can do it again. Use those same powers of observation, inquiry and practice to acquire knowledge, learn new skills and do more than you thought you could.
5. I will never recover – when faced with losing a job, most people will automatically turn their attention to the next job opportunity. But when faced with the possibility of the business closing its doors, most people will feel they reached the end of the line – it’s all over. This is an understandable reaction since so much effort and focus went into creating the a successful business. The good news is, after owning a business, you have an entirely new set of skills (and section of your resume) which includes planning, research, marketing, financial management, and every other skill acquired during your adventures in business ownership. In fact the mere act of starting a business speaks to your ambition and follow through which are qualities that are highly valued in today’s marketplace. And if you don’t choose to return to the world of employment, there is always your next business which will build on all the things you learned the first time around. There is life after a startup and it’s even better than life before it.
Yes, starting a business is full of fear. And the the good news is, most of the fears will be overcome by the sheer act of moving forward.