Fear

Fear is a major barrier faced by individuals thinking about setting up their own business, unless it can be overcome, progressing an entrepreneurial dream will be difficult.  Dipping into savings, re mortgaging the family home, personal guarantees, going without holidays or giving up a social life is a step too far for many. A foray into the unknown can be a very daunting experience, this means anyone taking the plunge should think very carefully about what the journey of self employment holds. Expect the unexpected is a phrase that so many business owners will relate to. Growing a company inevitably becomes a rollercoaster ride with no stop off point, you are swept along with the momentum that builds when, staff, customers, suppliers and the day-to-day running all demand your attention. Be prepared and aim to minimize all the risks associated with going it alone.

Given the current economic challenges faced throughout the world, entrepreneurship has now become a hot topic for debate. My advice to anyone going down this path is prepare yourself emotionally, mentally and commercially. Head, heart and wallet must be aligned. Once you get this, the rewards can be massive both in financial terms and from a sense of personal fulfillment.

My research shows that successful businesses don’t happen over night, they are the exception rather than the norm. The reality is there is no fast track to success, normally it takes over 10 years to create a properly functioning company. The journey involves navigating the forks in the road, where taking the wrong turning could have potentially disastrous consequences. Building a successful company is a bit like trying to get to heaven, you have to go through purgatory before you get there! It almost seems mandatory to have experienced two major setbacks before you get to the desired destination.

Whilst fear is a very sound reason for not moving forward with an idea, the reality is that focusing too much on this negative emotion and its associated outputs will hinder the ability to progress. Having said that a bit of fear can be also a powerful antidote to complacency. It’s all about getting the balance right.

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One Response to Fear

  1. Good Morning John – this seems apt in view of our conversation today about growing my business and although there are elements of fear – there is tremendous excitement and I feel confident I can do this! I should qualify as I feel I have gone through the gates of hell many times and returned to walk a different path.

    It is also about RISK TAKING and believing in your self even when others do not but to stay focussed and determined and optimistic but realistic.

    Looking forward to our chat today.

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