Every business owner wants to succeed. Whether that be in financial terms, improving their community, improving themselves or a number of other reasons. Fear often holds us back, makes us reluctant to try new things and can even make us afraid to succeed.
Fears are often deep-rooted, part of our individual make-up and sometimes we are not even aware of them. They exist for real reasons, but can also make us believe things about ourselves that are not true in reality.
Business owners are normally venturing into the unknown and the level of fear can rise to the point of preventing our own success.
From my experience, here are 8 fears business owners need to overcome and ways to do so.
1. Lack of belief
This is very common, particularly for new or potential business owners. The fear of failure can be overwhelming and prevents us from trying in the first place.
Ask yourself 2 questions:
- What happens if I do fail?
- What is the worst that can happen?
You will probably find the true answer is “not a lot”, so why not give it a go?
2. Fear of being 'on display'
Many people hide who they really are, scared that others will not approve. In business everyone has dreams but not all dreams are the same. Just because your dream is different to somebody else’s does not make it wrong.
In business (and life) be true to yourself, your values, your dreams and don’t worry about what other people think. I know this is easier said than done, but being true to your values is success in itself.
3. Fear of success
Sound strange? Well, in reality, many people fear that being successful will make them look arrogant, above their station and looking down on others. They will lose their friends and supporting community. Without trying to pigeon hole people, this is a very British frame of mind. Don’t put your head above the parapet, then you can’t be shot at.
Firstly, friends will support your success (as long as you don’t hurt others in the process!). Secondly, there is nothing wrong in setting yourself high limits and trying to be the best you can be.
4. Fear of saying no!
Lots of people are scared of saying no for fear of hurting others. Remember, by not saying no to others you are not be true to yourself.
Set yourself clear objectives. If an opportunity is presented that doesn’t fit, then say no. It will cause you more problems in the long run if you don’t. Business connections will be used to people saying no to them, it’s a business decision and that is all.
5. fear of looking stupid
Business owners have to take risks, try new things and there will be times when it goes wrong. Fear of ridicule can prevent us from even trying.
The fact is there is not a business-person out there who has not made mistakes. The most successful are the ones who do try new things. Richard Branson, for example, has many business and project failures behind him. But he kept going and kept trying.
Learn from mistakes and don’t be afraid to try, it is the way to success.
6. Fear of asking for what you want
Money and pricing cause so many issues for business owners. Asking customers for what you really want can be difficult. Fear that they will not pay that much or that you’re not worth it mean you underprice.
If you don’t believe in your own value then it is unlikely you can convince your customers. Believe in yourself. You do know your value to your customer and what you bring to them. If you undercharge you are devaluing yourself – effectively taking food out of your own mouth!
7. I'm not a salesperson
This is one I can certainly relate to. As a business owner you are responsible for growing or ‘selling’ your products or services. How can you do that if you are not a confident salesperson and cannot do the sales pitch?
The truth is people buy from people. It’s not about being pushy and loud. It’s about being yourself, being true to your values and demonstrating how you can help your customers.
How many people do you know who are immediately put off by the loud, confident salesperson? I know I am. If your customers like you, they will buy from you. Be yourself, or your customers are likely to see right through your façade.
8. Fear of asking for help
That fear of admitting you are struggling, giving a perception of weakness. Fear of rejection is also a factor in not asking.
Another fact then. Everybody needs help and support!
There are plenty of people willing to help and you will not look stupid. The most ‘ridicule’ you will get will probably be others asking you why you didn’t ask for help before!
These fears are very common. Planning your business and understanding both the business and yourself will help you face and defeat them.
If you need help with your business plan why not book a complimentary discovery call with me and we can work together to overcome those fears, and bring success to your business.