Why do we undertake? Each one has a different idea of why. Two elements influence this choice: the character of a person and external conditions.
However, regardless of the cause that pushes us to undertake, all entrepreneurs have common fears.
Fear is an emotion and like all emotions, if we know how to manage it, it can be very useful for our venture. The important thing is to identify it and know how to listen to it: When? Where? And why does it appear? What do you want to warn me about?
Why do you want to undertake?
Each one has a different idea of why. Two elements influence this choice: the character of a person and external conditions. There are people who undertake by vocation and in any situation they have the idea or see the opportunity to undertake. Others need a push (job loss) and the current crisis has offered a very strong push to many undecided.
However, regardless of the cause that pushes us to undertake, all entrepreneurs have common fears.
Fear is an emotion and like all emotions, if we know how to manage it, it can be very useful for our venture. The important thing is to identify it and know how to listen to it: When? Where? And why does it appear? What do you want to warn me about?
Mismanaged fears lead to paralysis or costly mistakes.
Some of the most common are:
- Fear of what they will say about my Fear of the unexpected Fear of personal instability
Do you recognize yourself in some of it? Or maybe all of them?
Let's go more in detail:
Fear to fail
The first, largest and most common, is related to the idea of success that lingers in our minds. This fear encompasses a huge number of aspects: from personal ego to responsibility for the people who work with you or for the debts incurred.
The mental image of being chased by debtors and finding yourself penniless living under a bridge is pretty normal, haunting even the most experienced of entrepreneurs. Getting rid of this fear is not only impossible, it is dangerous. This fear is what drives us again and again to get out of trouble.
Fear of what they will say about me
"And if I am not successful, what are the people who warned me not to start this madness going to say… Or, the people who admired me so much for having started it" This is a ridiculous fear and we should definitely eliminate it. Trying to meet the expectations of others is a waste of time. It does not work, there will always be someone willing to criticize what you have done, although when you have done it very well. Is it worth it?
Fear of the unexpected
If there is something certain in the life of the entrepreneur, it is that things are going to get out of control. No matter how structured the business plan is or how far-sighted you are, there is always going to be something you won't have predicted or calculated. When working in a large company the surprises of the unexpected are diluted between the different departments or areas or bosses, when you are the entrepreneur, the whole bucket of cold water falls on you. Solution? Does not exist. Learning to dance in the rain without waiting for the rain to stop is what you will most likely have to learn to do.
This fear has a twin brother: fear of being my own boss and assuming ultimate responsibility for decisions.
Fear of personal instability
Another very justified fear. For most entrepreneurs, starting a new business involves a complete change in life outside the office, from work hours to personal finances. It is essential to discuss it directly with the people who are “affected” by your change in lifestyle (partner, family, friends, etc.) and have a solid base of protection (most of possible savings, minimize debt).
These fears that I have just listed are fears that have to do with the future, and the uncertainty, of what will happen to me if I get into business.
What to do with them? How can I deal with the many fears and anxieties typical of an entrepreneur?
Turn it over.
There is a 5-step process that you can use to learn from your fears and manage them effectively:
Step 1: Recognize what is really happening, the facts.
Don't try to turn the situation into what it is not. Try not to dramatize it, rationalize it, or minimize it. In other words, do not anticipate with your imagination creating apocalyptic scenarios, nor collapse in a tragic scene, so focus on what is there, on the facts.
Step 2: Be aware, the body is wise.
Be aware of your state to try to change it, primarily perceive the intensity of the emotion and individual in which part of your body is manifested (stomach, shoulders, hands, etc.), note where you feel the tension. Sit down and breathe deeply for a while, feel the intensity of the emotion and hold it.
Step 3: Connect to the fear message, ask yourself questions.
Why does this specific fear become recurring in my life? Why that one and not another? What does being afraid of… have to do with me?
I invite you to look for the common pattern that arises when you are afraid, this type of fear (that is, what you think and how you usually react).
What inner dialogue are you maintaining with yourself when this fear appears? What actions prompts you to do?
Step 4: Identify the origin of fear, understand.
Fear may come from past experiences, present danger, or future fear. Recognizing and identifying it provides you with a neutral position that will allow you to handle it better.
Often, the biggest fears of an entrepreneur come about financial issues, and generally these issues have to do with family employers and the way of living and managing money. Maybe you can look around there….
If you do not succeed, you can always go to professionals who help you do it as coaches or therapists.
Step 5: Take responsibility and take new actions, act.
Once you have understood the message that fear wants to communicate to you, what have you been able to face with the internal dialogues that you are maintaining when it appears and you have realized how your body reacts. Then you have at your disposal all the wisdom to plan a strategy and different actions before it. And the power is back in your hands.
And you, entrepreneur, what fear are you suffering from? What keeps you awake at night?
