How to overcome the fear of starting a business

Introduction

A lot of people would want to start a small business. They want to become their own bosses and earn more money.However,the uncertainty that accompanies business startups freezes most people in their tracks. The “what if” questions never stop. They wonder what would happen if their business failed and they lost all their investments. Here are three things you can do to overcome your fear of starting a small business.

Avoid doomsday prophets

It is normal to seek acceptance and approval from others. You want to stay in line and play it safe. Starting a new business can mean exploring uncharted waters.Friends,with sometimes good intentions would want to discourage you from taking risks. Choose to associate with those that are already involved in business. Their success story will inspire you.

Do not over analyze

There is what is called analysis paralysis-over analyzing the idea of starting a business to a point of imagining the odds of success to be less than those of failure. Once you have come up with a business idea, develop a business model, do some projections, draw up an action plan and bounce it off your mentor or someone who can give you honest advice. Then you are good to go. In business you mostly learn by making mistakes.

Boost your confidence by finding a partner

Sometimes you fear to start a business because you lack confidence in your own abilities. This leads you to procrastinate. Find someone who believes in your business idea and compliments your weaknesses in marketing or accounting for example. Someone that can encourage you when the chips are down.However,be sure this person is someone you can work with.

Conclusion

To better conquer your fears of starting a business, start by first understanding why you are apprehensive. Remember that entrepreneurs are not careless risk takers or gamblers. They are reasonable people who do not want to loose their money. Only they manage the associated risks in their favor.So,once you see a business opportunity, devise a strategy to take advantage of it by carrying out particular tasks to manage the associated risks and guarantee success. You can only overcome your fears if you try.