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When I started my businesses, I encountered numerous fears that could have made me to close my business. It’s true that starting a new business can be a risky venture to invest your time or money and it may or may not turn out to be fruitful.
Yes! I agree that there are innumerable ups and downs of any business and your business too is liable to it. But then, the chances of making profit are also immense. Now, if you’re planning to start a business it is quite evident that you might be driven by some common fears.
So, here’s a quick scoop on some of the common fears that most of entrepreneurs experience while starting a business. Apart from giving you an insight on the myths and fears, I have also mentioned, how and why these myths are baseless. Take a look.
Fear of failing
This is probably one of the most common social fears that have driven almost all aspiring entrepreneurs. If you are starting a business, you might just wonder what’ll happen if you fail. All of us have an inherent desire to be liked and our business to be successful. However, things turn out to be extremely difficult when you get a gut feeling that your business will not work out.
Now, this fear can be overcome with some simple and easy steps. If you ever feel that you will fail in a business, always try to think the positive side of it. This has really helped me in my journey as an entrepreneur. Even if you experience a major or minor failure, you can always use that experience in order to avoid similar situations in the future.
Negative Criticism
You will always meet people who will want to discourage you from starting your business or give you negative criticism.
I have had my fair share and one thing that has always helped me to overcome the negative criticism is by avoiding environment or people who bring negative criticism to your business.
See Also: 3 Types of Vision Killers Entrepreneurs Should Avoid
Not Being Able To Make The Right Decision
There are many people who have doubts because they are not sure about what type of business to start with. Also, there are many of them who want to get self-employed, but don’t have that scope and the right opportunities. This is also a valid reason of fear that people have in their mind.
If you are presently working in a steady career, it is not easier to shift into a business right away. So, if you want to take the risk and go off on your own, you must be confident enough and consider what sort of business you want to start. However, while choosing your field make sure that you have a holistic insight on the field and know exactly what you’re supposed to do.
Upsurges in the economy
Upsurges in the economy, is probably one of the most common fears that drive businessmen. If the economy stops growing or encounter some turbulence, many entrepreneurs would consider it a wrong time to get started with. Additionally, this assumption is fortified by the negative politicians and journalists who embellish even the very worst economic news.
However, this might not always be the case. There are two phase in every economy. Some few sectors of the economy may experience some growth challenges but this will not mean that all sectors in the economy will be affected. So, you need to analyse the economy before making a decision in your business.
Always believe in yourself that you have the ability to conqueror these fears, one at a time.
Here is to your success in conquering your fears!
I was also once it that situation where I am afraid to fail. I believe that once you are in the field, you will not be afraid anymore. You just have to strive harder and harder to achieve your goal.
The unsurges in the economy is what Nepal facing. Let’s not give up. Once you give up you’re more frightened the next time you face the similar problem.
Am afraid of making the wrong decision and people not taking me seriously if i started my own organisation. Good article