How to Overcome Your Fears as an Entrepreneur

Published: Sep 09, 2020

Man RunningIt’s natural for entrepreneurs to have fears that hold them back from achieving their business dreams. Fears are a part of everyday life, and from a physiological standpoint, they can help protect us and make us feel safe. But often, fears are mental barriers that prevent you from actualizing your goals, and often, it’s necessary to engage in the same act that incites fear to help you become adjusted to it.

For example, if you love to travel but have a fear of flying, there are certain practices you can engage in that make flying easier. Over time, you’ll become more accustomed to flying, and might even have the gusto to go to flight school and retain control over that fear. Like flying, entrepreneur fears are no different—it’s important for you to put yourself out there and engage. Fears breed excuses and procrastination. With that in mind, here are a few ways you can overcome your fears as an entrepreneur:

Write Down Your Fears

One of the first steps you should take towards overcoming your fears is writing them down. Writing them helps you acknowledge and dissect them. Begin by writing down what you want to accomplish. Let’s say you want to launch a startup. Then proceed to jot down the things that stop you from making that goal a reality.

Perhaps you fear investors won’t be interested in your idea. Write it down, then dive a little deeper and dig into the details. Describe the avoidance tactics that hold you back. The most important part of this exercise is letting go and brainstorming as many answers as possible. Separate yourself from your fears, and think about the advice you would give a close friend or family member.

Unboxing Fear of Failure

One of the biggest fears that entrepreneurs have is the fear of failure. Failure is a big hit to our pride, and when we feel it, it makes us feel embarrassed and ashamed. When you unbox the fear of failure, you’ll find that in many cases, our fear of failure is associated with our concern over other people’s perceptions of us. We care so much about what others think about our successes and failures that it prevents us from taking the next step forward.

To help you overcome this, start thinking about the decisions you would make if you isolated the opinions of others. Furthermore, ask yourself, would you regret not taking the entrepreneurial leap ten years from now? And lastly, ask yourself, what’s the worst that could happen? More often than not, you’ll discover that the worst-case scenario isn’t too bad or nothing that you can’t handle.

Repeat Affirmations

Affirmations help you absorb the positivity of everyday life. Repeating daily affirmations can reduce your stress and anxiety and improve your overall outlook on life. These positive statements can help you eliminate the negativity and fear that creeps into your mind. Some positive affirmations for entrepreneurs include:

● I love the freedom my business produces for me

● There are no limits to what I can achieve

● I invest in myself and my business every day

● Helping others make money helps me make money as well

Have a Financial Plan

Entrepreneurship is inherently risky, and when you’re building from scratch, it goes without saying that you have to spend money to make money. No matter how frugal you are, you’ll have to fork over some of your savings to make your goals a reality. This is a rite of passage for all entrepreneurs; many entrepreneurs have put in all of their savings, or even taken out a mortgage on their home. But not everyone wants to assume those kind of risks, and having a financial plan in place can help alleviate some of the fears you’re facing and can instill confidence in your plans.

Navigating the Unknown

Entrepreneurs take on an exciting challenge that requires them to navigate the unknown. Whether you’re starting your own business or changing the status quo, it’s no wonder that one of your biggest mental barriers is that you don’t know what lies ahead. Often, we find ourselves avoiding the unknown because it means embracing change—another common fear. But when you take the leap towards entrepreneurship, you can never be guaranteed of the outcome. To help you overcome your fears of the unknown is to develop new skills, engage in self-care, and seek support from those around you.