How to overcome your fears of starting a business

Fear is a powerful emotion and it is not always a bad thing. The truth is, fear is usually the start of something great. And the good news is, almost everyone who starts a business will fear of some kind. So how do you overcome your fears of starting a business and turn those fears into a positive driving force to achieving your business goals? 

1. Understand why you are fearful? 

Put pen to paper if you need to, but really bring together all the reasons why you are afraid of starting a business. Perhaps it is the risk of losing money, the risk of failing or the risk of losing the stability of a job. Write down all your uncertainties and doubts. 

If you know what you are up against, you have a better chance of winning. 

2. Plan, take control 

It’s time to take back control. 

Now that you understand what your fears are it’s time to plan out your business and remove those fears as obstacles. Doing things like market research, writing down your goals and objectives, building a competitive product or service. 

This step should help you validate your business idea and overcome many of the fears and doubts you have listed. Having some market research based on factual data that backs up your business idea, will also help you believe in your business and your plan. 

Learn more about starting a limited company in the UK

3. Accept that there will be bumps on the road

Being fearful of a little turbulence is probably not very rational. Every business will have a few bumps on the road which you will need to be prepared for, like with everything in life. It is impossible to predict everything and it is impossible to be prepared for everything – but it is possible to believe that you can overcome anything when it arises.

So believe.  

4. Visualise the Gains

Now it’s time to stir up the confidence and drive you will need before diving into actually starting your business. 

What do you have to gain  if your business works? It’s time to dare to dream and dream big. This could be money, status, lifestyle improvement, whatever it means to you, now is the time to hold onto it. 

5. Here comes the hard work 

Break down your goals into achievable and measurable objectives per day or per week, whatever makes sense to you. Each small achievement will take you closer to reaching your business goal. Keeping things manageable will help you stay focused and confident. 

“I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.”

Nelson Mandela

Hopefully, by now you feel a little more at ease with the fact that you have a business idea that you believe in, that you have a proven basis to believe that it has the potential to work and you have planned out your steps to achieve your business goals. 

Starting Business can be a really exciting and joyous time, and little anxiety should not hold you back. It is important to be prepared on all accounts but also accept there will be challenges you may need to deal with as and when they arise. 

Make the fear of starting a business, your motivation and take the leap today.