Conquering Fear and Doubt: The Entrepreneur’s Journey
“Life isn’t much more than a big dig through layers of doubt and fear into new levels of power and potential.”
– Robin Sharma
In the realm of entrepreneurship, fear and doubt are often unwelcome companions on the road to success. Starting a business or pursuing a new venture can be a daunting task, riddled with uncertainties and risks. However, it’s crucial to acknowledge that these feelings are natural and can be overcome with the right mindset and strategies. In this blog, we’ll explore some effective ways to conquer fear and doubt in your business endeavors.
You may have seen my prior blog titled Building a Business – The Ride of Your Life that talks about how riding a motorcycle has many parallels to building a business. When I was learning to ride a motorcycle in 2002, I almost quit halfway through the beginner rider’s course. It felt daunting. I couldn’t get my left runs down. It was not even close to intuitive to have all of my limbs working at the same time (front brake, back brake, clutch, and throttle – oh my!). When I talked about quitting the course, a friend looked at me and said, “You teach new college graduates to be bankers. I hear all the time about how they struggle in the course. I also hear how they somehow get it by the end and go on to become skilled analysts and bankers. Now you know how they feel. If they can figure it out, so can you.” That is exactly what I needed to hear. I went back to the course the next day and passed the course! The rest is history. I’ve ridden my motorcycle all over the United States and haven’t looked back since. In life, you have to take risks or you never get anywhere.
I started my first business in 2007, VaVaVroom – Motorcycle Clothing for Her. I felt like I was riding down a dark, winding road with no headlight. But I figured it out. And went on to start two more businesses, Live Life Spiritual Direction and Live Life Business Consulting. I did it. And so can you. I share below what I have learned along this entrepreneurial journey.
Embrace Failure as a Stepping Stone
One of the biggest sources of fear for entrepreneurs is the fear of failure. However, it’s essential to reframe failure as a necessary part of the learning process. Every setback is an opportunity to grow and improve. Instead of letting fear of failure paralyze you, embrace it as a stepping stone on the path to success. Understand that failure is not the opposite of success but rather a crucial component of it. I read a life-changing book over 20 years ago called, Feel the Fear and Do It Anyway by Susan Jeffers, PhD. From that point on, I became more aware of how fear has held me back and vowed to keep moving in spite of the anxiety I was feeling.
Cultivate Self-Confidence
Self-confidence is key to overcoming doubt in business endeavors. Believe in yourself and your abilities, even when faced with uncertainty. Remind yourself of past successes and achievements to boost your confidence levels. Surround yourself with positive influences and supportive peers who believe in your vision. Additionally, continuously seek to expand your knowledge and skills through learning and self-improvement. The more you keep taking action, the more your confidence grows.
Set Clear Goals and Create a Plan
Having clear goals and a well-defined plan can help alleviate doubts and fears. Break down your business objectives into smaller, actionable steps, making them more manageable and less overwhelming. Create a roadmap outlining your strategy and timeline for achieving these goals. By having a clear direction, you can mitigate uncertainty and stay focused on your path forward. And if you are not where to start, set up a free consultation with me. I can talk through your concerns with you and help you create an action plan.
Develop Resilience
Resilience is the ability to bounce back from setbacks and challenges stronger than before. As an entrepreneur, you’ll inevitably face obstacles along the way. Instead of allowing these setbacks to derail you, view them as opportunities for growth and adaptation. Cultivate resilience by maintaining a positive attitude, practicing mindfulness, and seeking support from mentors and peers during difficult times. I can help with this too! And just because I have a successful business, don’t let that fool you that I don’t have setbacks and challenges. There have been many.
Take Calculated Risks
Risk-taking is inherent in entrepreneurship, but it doesn’t have to be reckless. Instead of letting fear of the unknown hold you back, learn to take calculated risks based on thorough research and analysis. Understand the potential rewards and consequences of your decisions and weigh them carefully before taking action. Remember that some level of risk is necessary for innovation and growth. Remember the old saying, “No risk. No reward.” It’s true!
Celebrate Small Victories
In the midst of uncertainty and doubt, it’s essential to celebrate small victories along the way. Recognize and acknowledge your progress, no matter how minor it may seem. Celebrating achievements, no matter how small, can boost morale and motivation, helping you stay focused and committed to your goals. There are many ways to celebrate. You order in lunch for your staff, bring a motivational speaker into your team meetings, or just treat yourself to a nice pat on the back. Don’t focus only on what’s wrong. Focus on what’s right!
Overcoming fear and doubt in your business endeavors requires a combination of self-confidence, resilience, and strategic planning. By embracing failure, cultivating resilience, and taking calculated risks, you can navigate the uncertainties of entrepreneurship with confidence and determination. Remember that setbacks are temporary, but the lessons learned along the way are invaluable. Stay focused on your goals, believe in yourself, and trust in your ability to succeed.
