The death of business startup horror! how to defeat the fear of failure in business and how to avoid it
How to overcome the fear of failure in business?
Many people might think about starting a business in 2019, Sounds creepy yeah. Okay, do you want to find a way about overcoming a fear of failure in business?
Most of the time in the business scene, we feel like we have to choose between going after our business dreams and continuing to support my family with this not interesting current career. I know that change can be a scary thing and when you’re taking the steps toward owning your financial future and becoming your boss, you find yourself in a position to make all of the critical decisions. But along with that, comes the way of understanding that if anything appears to be wrong. It’s all on you, that anxiety of failure is what obstructs most of us from striking for more.
Mainly when it’s not merely us, but we have our family also rely on us, to provide that stability. That’s so essential for our life. So how can we master our fear of feeling in business? I’m going to split it down into two different parts, the first part we’re going to talk about his mindset. Then we’re going to discuss real strategy. And giving you some hints that you can put into play.
Part One: First of all, Mindset
On the mindset front. It starts with understanding the opportunity cost, will have to pay if we choose fear over freedom. Many consider shrinking back, not going after their goals and settling into a life they know, is less than the one they want to live, service or sacrifice they’re making for the greater good of their families.
But they’re wrong! Especially if they have a child that’ll internalize the idea that I not only okay but expected for a person to sacrifice his or her dreams over fear, masked as comfortability.
That is an opportunity cost. In every situation, you have many choices, including quitting or giving up before you even start.
But with each decision you make, you have to understand that you are giving up the opportunities that come with their choice.
When the fear of pursuing your financial freedom beats you, what are you giving up? The chance to show your kids the real role a parent is supposed to play in life — one where he or she takes ownership, over her circumstances and isn’t shrinking back. But he is leaning in to ensure the best possible reality for himself and his entire family.
You are wasting the opportunity to propel yourself to new heights and show yourself what you made of which I can promise it is so much more than you think.
You’re giving up the opportunity, to join millions of men and women around the world, that are changing the status quo, workplace politics. Not because a group of other people is allowing them to, but because these people empower themselves financially, and won’t beholden to the whims of any unwanted situation or individuals when they settled, it was time to change things for the generations to come. Learn when you choose fear over freedom that is what you’re giving up.
Part Two: Action Strategy
How easy can we start up a business in 2019 and making money?
So now we start the strategy part of things. We learn how do you minimize that fear, approach business with strategy, solid planning and leave as little up to chance as possible.
So a few tips on helping your startup ensure success: my most significant piece of advice is don’t approach business as you would have before the year 2015. I mean olden days, and the 80s 90s early 2000s, the strategy to starting a business carried spending months and thousands of dollars drafting an 800-page business plan. Locking in tons of capital, secured a brick-and-mortar, building out an expensive team, paying marketing and branding agencies both loads, and then wishing the market would buy enough of your product or service to pay everyone back and finally one day you might turn a profit. Maybe sell your company. Maybe go public. But all until then you, are hustling for 18 hours a day not enjoying the fruits of your labor. And not even having any time or energy for your family or the people that you’re building this new thing.
As an experienced business startup mentor, I don’t allow any of my customers to waste time or resources on any of those elements. Because applying that same strategy today, would be foolish. And would put you at a ridiculous disadvantage, with the advent of e-commerce, social media marketing, and globalization.
Starting a business in 2019 is as simple as putting up a webpage.
Yeah, Begin a business in 2019 by creating an efficient website and start running a few ads in order to test the viability of your niche product or service. Pivoting and tweaking till your goods and offer it. Speak to your target market which you will know. , because they are purchasing Not promising to buy, but actually, buy.
And then scaling those struggles by establishing the process.
The entire prosses can be done in a matter of weeks and with the investment of less than a few hundred dollars in most cases. So break that down for you a little further.
Start with steps 1 & 2 build a simple website that offers your product for sale, then runs some ads targeting your ideal customer. If no one buys, it’s either your product or your messaging. Tweak your messaging. Maybe try tweaking your target audience, try to weaken your product exhibition. If by all of your efforts and actions, no one in the world orders your products, just one wants it.
Scrap it and try something else. But you’ve just saved yourself the thousands of dollars and month that would have gone into that business plan. You just saved yourself one thing to fail on this level of ideas.
When it’s just you putting a few hundred dollars into ads and getting the site built but when you have people investing in you. And it’s usually family and friends that do it first. When you lose their money, that’s a whole, and it takes you to get a little bit down with that.
So this is a way to test the viability of your product, while you still have your day job. And can work on this without having to rely on it paying off immediately because business is not simple. If it were then everyone directly would be doing it for themselves — specifically first-time entrepreneurs. A lot of the time we see your product or service, and we know that it’s going to hit. But then the world happens, and all of our plans met with the reality of life.
So this is how you ensure your startup sees success. Before you quit your day job, Take action for doing side hustle, by this you are going to testing your products using the process I just outlined.
When you ultimately have a product that hits, estimate it. And when your slide hustle income meets or overcomes your main paycheck, maybe it’s time to consider leaping full-time entrepreneurship.
But don’t just quit outright! Do it this way.
With planning and strategy and learning and growing with your target audience, and pivoting your product and messaging until you find what works, starts making money, and then makes enough.
So that it isn’t even a question on what I’ll need to sacrifice, what can I cut from our family budget? Or can I pursue my dreams?
The answer is that now you’re pursuing your business dreams, It just needs more time and efforts. Because you’re going to have to do your day job, and now you have another job or possibly part-time possibly full-time.
But work your way up toward that full-time part, and then you’ll have the choice. Do I want to continue working here? Or now that this is just it provides everything that my family needs. Can I go ahead and pursue these dreams? Absolutely yes.