4 Ways To Overcome Fear When Starting Out In Business

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Starting out in business can be an incredible leap of faith as you don’t quite know what the future will hold.

Will your business succeed? Will you lose money? Will you waste your time? 

These are just some of the questions you might ask yourself, so you can be forgiven for feeling a little fearful.

But should you let your fears deter you? Not always, no. If you’re sure you have a good business idea, and if you aren’t sacrificing a great deal to begin your new business, you should persevere. 

So, how can you overcome your fears? Well, here are some suggestions that we hope you find useful.

#1: Educate yourself

The more you know about running a business, the better. We are talking on general terms and about the specifics of your chosen industry. When you have familiarized yourself with much of what you need to know, you will have more confidence going in.

You can educate yourself by:

  • Reading articles on business-related websites, including those that contain startup tips. Our website is an excellent place to start.
  • Visiting business forums online, reading the advice others have posted, and asking questions of other entrepreneurs
  • Networking with like-minded individuals on social media and at business events
  • Signing up for business school or skills-based classes
  • Reading business-related books, listening to podcasts, and watching TED talks

#2: Start your business part-time

Instead of quitting your day job, ease yourself into entrepreneurship by starting part-time. This way, you will be able to work on your business during the evenings and weekends, and still have money coming in from your regular income. Of course, if you don’t have a job, you could also look for something you could do alongside the running of your business. As you are unlikely to profit from your business immediately, the fact that you have an income could allay some of your fears.

#3: Consider franchising

Instead of starting out in business as an unknown, you could open a franchise. This is sometimes better than starting out from scratch, as you would:

  • Have guidance from the franchise leaders
  • Gain immediate brand recognition
  • Find it easier to secure finance

Franchises also have a higher rate of success than some start-up businesses, so if you are plagued by fears of failure, this is one idea that could be right for you. You can approach franchises directly by visiting their websites or through sites such as Franchise Direct who list the latest franchise opportunities. 

#4: Remind yourself why you want to start out in business

What are your reasons for wanting to start out in business? Is it because you want to leave your career path? Is it because you want to improve your income? Is it because you want to become the next Steve Jobs or Jeff Bezos? Whatever the reasons are for you, write them down, and remind yourself of them every time your fears take hold. If you remember the ‘whys,’ you will be less likely to give up because of your startup anxieties.

Starting a business can be scary, but by following our suggestions, you should be less fearful going forward. If things don’t work out for you, then fine. At least you will have tried. However, your business could skyrocket, so be positive, and don’t let your fears prevent you from following your business dreams.