5 Fears You Must Overcome When Starting a New Business

After working for a company over a prolonged period of time, everyone starts wondering whether it would be better to head out on your own. The greatest problem is that no matter how much experience you have in this field; it doesn’t really translate into your entrepreneurial skills. Being a good salesman or even an efficient leader of a sales team doesn’t mean you’ll be as great when handling a team on your own. Still, these things aren’t so terrifying either and once you manage to overcome some of the most basic fears, you’ll be on the right path to building your entrepreneurial success.

1. Lack of trust by people close to you

Sometimes, your ideas will sound brilliant to you, yet, insane to people around you. There are two reasons why this might be the case. First of all, remember that you’re always going to be biased about your own ideas, which means that others may look a bit more objectively on this whole situation.

On the other hand, you know yourself better than anyone else does, which is why you sometimes need to be ready to take the risk. When it comes to persuading others, there’s nothing more efficient than success, yet, in order to make this leap of fate, you need to be 100 percent sure it was the right thing to do. In other words, you need to validate your business idea in an objective and unbiased manner.

2. Not being skilled enough

Another fear that most entrepreneurs face is the thought of not be efficient or skilled enough when it comes to some of the administrative tasks. Keep in mind, however, that with the right team, you don’t actually have to face any of these tasks alone. When it comes to your finances, you can find skilled accountants to handle this for you.

Same goes for the IT people, HR representatives, and your customer services. Nowadays, outsourcing is one of the most widely used business methods, which is something always worth keeping in mind. The only two tasks you need to worry about is finding the right people for the job and organizing them into efficient units.

3. Not being able to gather enough money

Perhaps the most common pressure amongst young entrepreneurs lies in the idea of not being able to gather enough money. This is mostly because they fail to recognize all the fundraising prospects they have available. Aside from traditional loans that they receive from lenders, banks and credit unions, there are also options of looking for angel investors and venture capitalists.

For tech startups, pre-orders, subscriptions (per month or per creation) and, of course, crowdfunding. Lastly, you can always enter this field with your personal money either by applying for a personal loan, getting the money from a family member or selling an asset. The options are numerous which makes this fear completely unfounded.

4. Failing others

This particular fear is the exact opposite of what we’ve discussed in the first section and it happens when you have too many people believing in you. Your friends and family may be so proud that you will start actively fearing the prospect of letting them down.

Moreover, once you become an entrepreneur, you’ll make decisions that will affect others, as well. The choices you make will determine whether your personnel have an employment in the next several months, whether your investors get that return they’ve hoped for and whether your customers have their expectations met. Keep in mind that while being aware of these things is good, you can’t let it distract you from more important objectives.

5. Stepping outside of your comfort zone

Lastly, people simply fear change and all that comes along. Starting a new business means abandoning your comfort zone and, perhaps for the first time in your life, becoming a leader instead of being a follower. Instead of being imposed with deadlines, you’ll be the one negotiating them. Instead of having norms and work hours, you’ll get to decide how much effort you’re willing to invest.

Once you become an entrepreneur, you’ll be the master of your own fate and there’ll be no one left to hold your hand once going gets tough. The thought itself is terrifying but it’s a leap of fate that every ambitious person has to make at least once in their lifetime.

In conclusion

It is very fitting that we wrapped things up with the fear of stepping outside of your comfort zone, due to the fact that you’ll be trying your hand at something completely new. Sure, you might have been a project leader or a team leader before, yet, this is the leadership at a completely new level. In other words, these are not fears that will go away on their own but ones that you need to actively fight against by tackling some of these entrepreneurial tasks and recognizing that they’re nothing you can’t deal with.

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Neil White

Neil is a digital marketing student, a DIY enthusiast and a beginner at the blogging scene. His home is the whole world because he travels a lot. While you are reading this he is probably somewhere other than where he was yesterday.