Overcoming your fears about starting a business

It is often the case that people who have a fantastic idea or a dream they wish to fulfil are so scared of failure that they do not even try to make it become a reality. Starting a business is one of those dreams which for many people never comes true thanks to these fears.

The fear associated with starting a business is not irrational like a phobia. In fact, it is very rational thoughts such as ‘What if I lose all my money’ or ‘What if my family won’t support me’ that can put a stop to the development of even the best business ideas.

However the most successful entrepreneurs in the world are not afraid to take a risk if they believe an idea will work. It is gaining this confidence – backed by a good business plan – that will help you clear your mental hurdles and cross the starting line to success.

Confidence can only come by identifying areas of anxiety and addressing them one by one.

Losing sight of your objectives

When you get bogged down with thinking about the obstacles to setting up your business, you can lose sight of why you started it in the first place. Re-focusing on your original objectives and working on a business plan will help you to work through your worries.

According to Associated Content, one of the best ways of rectifying this situation is to sit down and outline, not only the reasons behind starting the business, but also individual long-term and short-term objectives; if an objective can be written down, then it is possible to achieve it.

"Fears can arise out of nothing more than a loss of focus. If you find yourself bogged down in the tiny details of starting a business ... take a minute to remember why you're venturing into the business world," said Associated Content. "Often, renewing your passion for the business will give you a second wind and chase those pesky fears away."

Get the job done and don't make excuses

Another potential source of fear is the endless list of unfinished tasks and the list of those that have not yet been started. These are a recipe, not only for unhappiness, but also for a sense of failure that can be paralysing.

Associated Content recommends that it is far healthier to make the effort and complete at least a few of these tasks – especially if they are the ones you’ve been dreading. This not only helps you towards achieving your goals, but generates a positive sense of success that can provide the necessary fuel to go on to other successes.

Whoever said that success generates success is probably right. On a related point, the sense of inertia when it comes to completing lists of tasks can compound a tendency to make excuses. So, if this is indeed the case, stop. If budgeting is not one of your strengths, do something about it and get some training. The more you know about a business area the less scary it looks on your task list.

Legitimise your worries

Excuses don't help anyone overcome their fears about starting a business, they simply make matters worse. Don't indulge the "what if's", fight them. Instead of pushing them to the back of the mind or simply dismissing them as silly worries, a more sensible course of action would be to actively address them. You won’t always know if they are false concerns or legitimate worries unless they are properly examined.

And where concerns are identified as legitimate, refer back to the previous two points and stop making excuses, just get the job done. If it becomes apparent that you’ll need help, don't be afraid to ask for it.

"Failure can be uncomfortable and unpleasant, but is not life-threatening. And failure is always an opportunity of one kind or another - an opportunity to stretch beyond our usual boundaries, to learn something valuable, or to make previously undreamed-of connections," said Susan Ward, in a report by About.com.

In conclusion, the only real way to overcome your fears of becoming a small business owner is to address them, realise them for what they are and then adopt practical steps towards overcoming them. When concerns are viewed in the cold light of day, they are often not nearly as insurmountable as they first appear.