When it comes to starting a business, having a fear of failure is a very real challenge. This fear can make you feel insecure about what you are doing, and can chip away your confidence.
However, fear can be good, as it often forces you to think fully about the implications of what is being done. But when fear paralyzes and stripped of your power to move forward, then it’s time to fight against it.
If you are going to start a new business and make an important decision, but feeling that the idea paralyzes you, follow these tips to overcome the fear of failure:
Fear of failure often arises because doubts arise and because there is an ignorance. There is no way of knowing what will happen, but getting to know all the factors involved make that fear to fades because it is the fear of the unknown that feeds partly your fears. In this regard, you have to have every piece of relevant information clearly, and get the most important data and use them to make smarter decisions. Writing, thinking over and over is the best investigation especially when you have flexible timings and not in a rush. Rushing is another negative energy.
Create a solid plan
Do not improvise and make a business plan in which values all factors. Furthermore, when evaluating the results, create different scenarios, including at least favorable, so that it can propose alternatives and to locate weak points of its proposal more easily. I will attach a video below which is going to help you a lot to understand this subject of a business plan in details.
Have a plan B or contingency plan
When evaluating, less favorable scenarios, you will realize that you need a plan B or contingency plan. Not considered as the attitude of a pessimist, but as the attitude of a sighted mind. Also, make flexible plans in place to adapt to the circumstances and to enable it to pivot if necessary. Why is it necessary? If a kilogram of walnut today costs 5$ and you will carry 5$ in your wallet and schedule to go and buy it tomorrow, then you will never know if with the same price you will get it or not. It maybe rise to 6$ or go down to 4$. Plan B and even C always will be an advantage to look after.
Consider the consequences of doing nothing
Do is risky, what is the price of doing nothing, to stand still waiting to see what happens? What will happen in a few years, when you take a look back and see how you missed the opportunity? Do you still want to say “what a chance that was that time”?
Change your attitude towards failure
Why do we have this fear of failure? Most people are afraid to fail because failure to identify with being a loser. But failure does not make you worse person. On the contrary, the failure can be learned many things and mature staff and entrepreneurs. As said “In every failure there is a success” or “we learn from our mistakes”. To help you to avoid this negative attitude or negative energy, I suggest to watch these videos below to get motivated. You are already in the path of a success when you are motivated or inspired with your idea. Remember to fear the fear of failure itself by motivating yourself.