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7 Ways to Defeat the Fear of Failure of Your Small Business
by Kelly Sims
More Business Skills Articles
Published on this site: August 20th, 2007 - See
more articles from this month
So you have decided to take the plunge and venture into the
world of entrepreneurship. You are enthusiastic, eager,
uncertain and terrified all at the same time. Believe me,
most people in your shoes feel the same way. The start-up
phase of any business is often the most exhilarating, but
for many, it is also the most trying. Fear of failure
often stops would-be entrepreneurs before they even have a
chance to bring their ideas to life. The following are
some ideas that may help you to stay focused on your goals
and will hopefully give you the extra confidence to pursue
your venture.
- Research the need for your product or service: If there
are already 8 dry cleaning services in your town of 1,200
people, chances are your dry cleaning business will not
succeed. If you are still determined to open your business
when the demand isn't great, consider adding some creative
or innovative products or services that the competition
doesn't offer. Look into your local small business service
centre for information on demand in your industry. Knowing
that a service is in demand will give you the extra
confidence that your business has potential.
- Once you have decided that your business venture is
viable, surround yourself with positive people: An
encouraging word from a friend or family member can go a
long way. Confidence and positivity go hand in hand.
Conversely, negative thoughts bring self-doubt, and
self-doubt almost certainly leads to failure. If someone
in your life is negative concerning your business, try to
discuss it with them as little as possible. This doesn't
mean don't talk to them, just stay away from the subject of
your business. Talk about your business and ideas with
positive people only. This will help to leave you feeling
excited at the end of your conversation instead of defeated.
- Stay involved in the lives of your family and friends:
Starting a new business can be all encompassing. It takes
over your thoughts sometimes night and day. Don't forget
to put things into perspective. The most important things
in life are your friends and family. Don't neglect them.
You need to have a healthy balance between work and family
and friends in order to be happy in your life. Remember
your ultimate goal is happiness in the end. If you are not
happy, then what is it all for?
- Read as many books as you can find: Read books on your
industry, opening a business in this industry and business
in general. Many online bookstores allow you to read
reviews of books before buying them. These reviews will
most likely be from people like yourself, looking for the
same kind of information as you are. They will let you
know if the book is worth purchasing. Learning as much as
you possibly can about your industry and opening a
business, is a sure way to gain confidence.
- Get involved: Join trade associations if they exist for
your industry. The advice and insight you will receive
from the individuals already working in your field can be
even more valuable than the information you can read in a
book.
- Don't listen to the inner negative voice: Self doubt
and fear of failure are what stops many would-be
entrepreneurs from realizing their dreams. Whenever you
realize that your inner dialogue is turning negative,
change it immediately. You control your thoughts.
Positive thinking is a powerful tool that will most
certainly contribute to your success.
- Love what you do: If you are planning on opening a home
cleaning service, but can't stand cleaning your own home,
you are in all likelihood doomed to failure. Choose
something that excites you and that you feel passionate
about. You need to feel motivated in order to continue
growing your business in the years to come.
Remember what your goal is and stay focused on that. Don't
let fear of failure defeat you. Regrets are one thing you
certainly don't want in life. Once you've researched your
venture and know it has potential, keep the next steps in
mind. Learn, stay positive and enjoy this exciting phase
of your life. Good luck.
Kelly Sims: Is a Virtual Assistant and President of
Virtually There VA Services. She is dedicated to making
the lives of small business entrepreneurs easier. For more
information, visit her website at
http://www.virtuallythereva.com
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