It is normal to feel fear when you are starting a business. When contemplating launching a business, many people feel a mixture of anxiety, fear, and self-doubt. As we carry our unique idea from our heads into reality, we experience confronting numerous questions.
The fear and pressure to succeed as an entrepreneur extends beyond the employees, partners, and investors who look to you. But, you also want to prove to yourself, your family, and your friends that your idea is worth pursuing and that you have the guts to see it through.
So, what triggers entrepreneurial fear, and how to overcome it? The Entrepreneur compiled the three biggest mental roadblocks entrepreneurs face and how to use them to your advantage.
Tips to conquer your fears of starting your business
1. Set attainable goals — then ignore your inner perfectionist
Where to begin? There is an abundance of detail to consider and processes to implement. Setting goals is a common trait among entrepreneurs. Begin by defining your company’s overall mission, then break it down into smaller, more manageable goals.
Those small goals will not only help you understand the company’s mission but will also show you where to start. Perfection isn’t required to start testing your product, building your own website, and talking about your business to anyone who will listen. Setting realistic goals is critical when starting a business.
2. Focus on your “passionate community”
Passion and grit can only take you so far in business. Without financial stability, it will stall and your overdue debts will pile up. Identifying and building your community is important. Investors, partners, and passionate customers should be part of your community to help you succeed financially. Surround yourself with people who are enthusiastic about your work and will quickly become your supporters.
3. Find a perfect work-life balance that suits you
The line between personal and professional life is likely blurred for entrepreneurs, but it’s impossible to start a business without considering how your family, friends, and Facebook connections will react. It’s important to be able to balance work and family. Encircle yourself with partners who appreciate the balance and won’t make you feel guilty for living your life.
There is definitely no one-size-fits-all solution for every business and entrepreneur. The fear was that you’d invest a lot of time away from your family and see nothing in return. Every entrepreneur must decide how to balance work and family. Find out what works for you.
If we’re being completely honest, we all experience some level of fear. We’ve all worried that we’re not good enough to succeed in particular. To achieve your dream of owning your own business, you must be willing to take a risk.
Meanwhile, if you want more motivation to work towards financial success, you can read Warren Buffett has 6 Tips to Earning Your First Million.