Starting a business is not a roller coaster ride, but neither is it in any way close to a trip to hell. A lot has to be done before taking the ultimate plunge, from research, tactical analysis and market research. Imagine adding the fear of failure to those ingredients, this is the very reason why many aspiring startup businesses never get to take their wings off the ground. In one of his public addresses the great Barack Obama once said “It’s only when you hitch your wagon to something larger than yourself that you will realize your true potential – and become full-grown”. Rome was not build in a day it is said, try a business and fail. Learn a lesson from the failure. George Soros once said: “Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.”
Sometimes fear can also work as a motivation. If you are fully aware of the fear of the obstructions you may encounter, you become more careful. You become extra cautious when you take steps. That worry can work to your advantage and propel you to unimaginable heights. If you desire to setup a business or you are on the edge of launching a great initiative then the following tips might help you overcome the fear that usually paralyzes us.
Conduct detailed research and analysis
Fear of the unknown is one of the greatest fears to purge mankind. It is in fact factual that what you are not familiar with can be very intimidating. Doing research of the business you want to do gives you a psychological advantage and some form of mind control over the business. It is often said that the devil is in the details for knowledge is power. The more you know about a subject matter the more you gain confidence on how to clearly navigate your way through to the top of the food chain. Success in business is never by happenstance but fortune favours the knowledgeable who have real concrete data on how a plan of action is to be executed. Ignorance is not an excuse. Read more about your business and even use the internet to find how to do the business. Too much knowledge can also incapacitate you. You must not do too much research that you fail to zero in on the details and miss the bigger picture.
Have a solid plan at hand
Many people think that business plans can be quite a lot of work, and sometimes costly but the truth is that business plans are always worth their salt. A business plan gives you an idea and hints on how you must charter and navigate from the conception stages. A solid plan gives you an overview of what to expect in the business. You must use this to set goals so that you are at all times fully aware of the business purpose. Breaking your long term goals into short term objectives will also help you to trace your progress against time. A business plan helps you to be secure in your decisions and also build a lot of confidence.
Have a plan B and identify an exit strategy
Many have put across the view that having a contingency plan and exit strategy is a sure setup for failure. I totally disagree with this notion. Having a plan B gives an entrepreneur confidence and is nerve calming because you are able to realize that failure is not the end but you have a fall back plan you can land on. Not having a contingency plan is like trying luck by jumping out of three story building knowing that there is nothing to break the fall should it fail. An exit strategy assures you that if push comes to shove then it is not kaput. Sometimes having a plan B does not mean that you will deviate from your main purpose and agenda when all comes to halt. Sometimes a plan B is there to just offer an alternative route to the same destination. You just change the path and course of action but you still accomplish the same desired goal.
By all means consider the price you have to pay for inaction
Many great plans are without executioners and many executioners are without ideas. Regret of wasted time is more waste of time. How will it feel in the next five years to look back and think of a time you could have taken action and made a difference but you were just too scared to give it a shot. The price of inaction can take you to an early grave, coupled with stress and self-pity. Thinking deeply of what it can cost you to not try is in itself a fuel to start a business. Imagine if Coca-cola had sat back and said it cannot been done, if Neil Armstrong looked to the moon and said IT IS TOO FAR, we cannot go there or if Barack Obama had said who am I to try and be the first black president or Martin Luther had said the dream is dead my fellow black Americans, Go home there is no address. I am not taking of blind optimism, the kind of hope that ignores all obstacles, neither am I talking of wishful idealism, the kind of dreaming that does not call for planned action.
Get some sort of help and assistance
When you start a business alone it is quite easy to get stuck in your head and lose confidence to realize your hopes and dreams. There is a deep rooted comfort in numbers though sometimes three is a crowd and too many cooks may sometimes spoil the broth. You should have a support system to fall back on and revitalize your energy when you are down. Support can be from a family member, spouse or colleague who gives you hope and belief in your dreams. It makes the burden much lighter to bear when you are not alone.
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