Many young creative minds fail to pursue their dream of being an entrepreneur because they are not able to overcome some fears that discourage them. No matter how big your idea is, it’s of no use if you fail to execute it because of these fears.
Fear #1- Decision Uncertainty: Having your own start-up is a big decision for sure but once you have made your mind and as far as your business plan is viable, nothing should affect your decision. Many people with great ideas end up disposing it because of this fear, as they already have a job and leaving your permanent job for a start-up is risky with respect to having a secure future. Go for in-depth market research and work up on knowing the feasibility of your idea. If things are in your favour then go ahead with full confidence.
Fear #2- Risk of Failure: It is not just about the start-up, every business, even the established ones are exposed to so many risks but they never give up on moving ahead with their plans and this is the reason why they are successful today. Embrace risks as they may bring you fruitful rewards.
Fear #3- What Will Others Say? : Success brings you friends and failure brings you foes! People often take pleasure talking about your failures but that should not be a concern for you. These criticisms would not bother you as far as you are determined for making it big.
Fear #4- Being Bankrupt: Your saving is your only capital to invest in the new start-up and if your business fails you will be left with nothing in hand. This insecurity is quite understandable and genuine and calls for a great deal of courage to put all your life’s savings in an uncertain business. In such case you should work on the sales forecasts and progress reports which will guide your business to be on the right track.
Fear #5- Lack of Required Expertise: We are often scared about going about a new task or thing in life and starting your own business can obviously make anybody nervous. The fear of lacking the much needed experience and expertise can bother you lifelong until and unless you make up your mind and jump into it. At this time, think about those entrepreneurs who did not even finish their graduation and are doing a great job today.
Fear #6- Losing Social Circle: Start-ups call for full devotion and commitment into the business. You may not even get time to meet your friends or spend some quality time with family. Try delegating some work to other competent people involved in the business which will save your time.
Be strong and determined to overcome these fears. Your hard work will surely pay you in future but till then you need to be patient and motivated.