3 Common Fears About Starting a Business (and how to overcome them)

Bye, scaries!

Can I let you in on a little secret?

I used to be REALLY scared of starting my own business. In fact, I waited nearly 15 years after graduating from university to make the leap into the land of entrepreneurship.

Working in corporate jobs, I was in my ultimate… yes, cue the dreadful music... COMFORT ZONE.

I was no longer growing, no longer challenged, but oh my, was I nice and comfortable! In fact, I was so snuggled in to my comfort zone that starting a business felt like getting out of bed on a freezing cold morning. I mean, WHY would I want to do THAT?

And so I stayed. And I stayed. And I stayed. Comfortable. And bored. And not challenged.

When the thought of starting a business crossed my mind, I became so GOOD at shooting it down with every fear and doubt I could think of.

So why didn’t I just go for it? Because I was scared.

I was scared of so many things. Scared of looking stupid, scared of losing everything and having to live under a bridge. But worst of all, I had myself convinced: who did I think I was to be starting a business?

Now perhaps you can relate and before I go any further I want you to know that…

The number one killer of entrepreneurship is fear and doubt!

So I totally get why you’ve convinced yourself that now isn’t the time. But I wouldn’t really be doing my job if I didn’t try to convince you otherwise, would I?

There are really 3 main paralyzing fears when it comes to jumping on the train to be your own boss land, but there are also 3 simple solutions for tackling those fears:

Fear No 1: Watching your comfort zone disappear in the rearview mirror. Let’s face it, there’s nothing comfy and cozy on the couch with your pumpkin spiced latte about creating a business from scratch. You’re a newbie here and anything new is bound to have some learning curve. So get ready to be uncomfortable.

Solution: Surround yourself with experts asap. Like yesterday. Seek out people who excel in the areas where you acknowledge you can improve. This may take some vulnerability (read: uncomfortable-ness) so again, prepare yourself!

Learning from experts shortens your learning curve and helps you achieve success much faster because experts will teach you the fastest way to get from A to B - they’ve already done the hard work for you!

Shortening your learning curve will give you more time to focus on what you're good at. Hiring an accountant, bookkeeper, and (of course) a business coach are all great places to start!

Fear No 2 :

Fear of failure, making mistakes, looking stupid. Ooooh this is a big one! Anytime we try something new it’s easy to go to the worst-case scenario. When you come from a place of comfort, where you are the expert chances are your mistakes are few and far between.

In fact, you’re probably so good at your job, that people constantly come to you for help and advice. It can be pretty scary going to the other side of the equation where you are the one learning and asking others for help.

Solution: Make the mistakes.

Yes, really. Because I’m going to let you in on a little secret here, you absolutely will make mistakes. And as cliche as it is, you’ll be better for it! Why? Because you LEARNED something and you GREW.

That’s all part of tackling something new. So before you get too down on yourself remember YOU are not a failure, just because you hit a speed bump. Simply collect your learnings and move forward. I guarantee they will only make you better in the long run.

Fear No 3 :

Fear of not making a living or finding clients. Without clients, you don’t really have a business, right? This is a huge spook factor for so many! Trusting that you have something to bring to the table that you’re good enough at, and that’s unique enough, that someone will actually want to give you their money for, is not an easy thing to convince yourself of. 

Solution: Determine your WHAT and your WHO.

What is it that you’re selling? What is the problem you solve for people? Speaking of people, who are your people? The ones who’s problems you aim to solve. Who, exactly, will you aim to attract?

Once you identify those two things for yourself you’ll have your direction, voice, and target client. If you aim at the right person and say just what they’ve been waiting to hear, there’s no stopping you. You’ll be the light at the end of the tunnel for your clients!

So now that I’ve covered 3 things that could get in your way of starting a business, tell me - what’s the ONE big thing holding you back? Do you have a big scary question about starting your own biz?

I’d love to hear it!

Holly works with professionals to create services-based businesses using expertise and strengths they already have. Holly is the creator of The Consultant Code, a program will have you up, running, and profitable with your services-based business in 60 days or less! Want to learn more? Drop her a note at: holly@hollyknoll.com