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    21 Replies Latest reply on Dec 7, 2012 12:22 AM by jonsain

    Fear in Small Business

    Moderator Berta Guide

      As a small business owner one has to face a lot of fears. Fear of failure being one of the biggest. I also think that there would be a fear of being successful too soon. If your business takes off like a rocket and you're not prepared for it, there could be huge repercussions. There are many fears to face with opening a business and continuing to run a business in today's economy.

       

      How do you handle fear in your business? What steps are you taking or did you take to work through the fear and help your business succeed?

       

      Can't wait to hear your experiences.

       

      ~Berta

        • Re: Fear in Small Business
          Robin Williams Tracker

          I feel like there is rational fear (like being afraid or a growling dog with its teeth bared) and irrational fear. I like how you mention that most fears are irrational, aka not grounded in reality. Those are the fears that have to be managed and overcome.

           

          CashOne

          • Re: Fear in Small Business
            alicenikolic Scout

            Hi,

            I feel that there is always certain kind of fear when starting a new business. It doesn't really matter whether the business s small or big, but that fear psychosis always exist. When starting a new business one needs to follow the 4 P's.i.e. Product, Price, Place, Promotion. If one follows these, then under no circumstance will the business fail. However, one should also be mentally prepared in case the business fails.

             

            Virtual Office

              • Re: Fear in Small Business
                Guide

                Hi alicenikolic,

                 

                Fear of failure is always a given when in business, period. There is no argument there. However, one thing I have learned from many is that it doesn't matter how well you plan and do everything right your business can still fail. Anything can happen. Unforeseen circumstances beyond anyone's control can wipe a business out in a matter of a few hours.

                 

                Hence the constant fear in self employment. Some fold and others try and pick up the pieces and continue. I know myself, this economy almost wiped us out. We are the few that managed to survive hanging by a thin thread to this day. But, I still know that maybe tomorrow we may have to pack it in and find something else to do. Until that happens, we just keep positive and do everything in our power to come up with new ideas to make the best of this economy.

                 

                Melinda

              • Re: Fear in Small Business
                raico Adventurer

                I indeed agree that fear of failure is one of the biggest fear you will feel in business. However, one thing that is good when you fail, it makes you strong to pursue your goals. Another thing you should do is to learn from it so that you won’t make the same failure again. 

                • Re: Fear in Small Business
                  papamarkc Newbie

                  Hello Berta,  Have been in a variety of businesses for the last 27 years, as to the fear factor, trust in God first.  As to the best simple things I have learned, stay focused on your existing customers, never cut corners on your quality, and learn to say NO when you feel overwhelmed by increases in business.  You are better off to live to fight another day, so keep your $resources close to handle your known business and take maximum care of your existing customers and they will lead you to other new business.

                  All the best,

                  mark

                  • Re: Fear in Small Business
                    hjbaker Newbie

                    I hang on to emails and other forms of positive reinforcement for those days when I need a confidence boost. Also as a mother, I'm very conscious of the fact that my daughters are watching to see how I handle issues. When I acknowledge fear, and then figure out how to move forward anyway, I think they learn that we all have untapped resources.  When it's not all about me it's easier to see the big picture. I don't want to feel stuck in place because I'm risk-averse, and I don't want that for my kids either. It's not always easy to jump in but it's almost always worth it.

                      • Re: Fear in Small Business
                        Moderator Berta Guide

                        Hi Holly,

                         

                        What a great way to keep your spirits up. I totally agree with you about your kids watching and learning from your actions. Kids are like sponges, they soak up both positive and negative reactions from the grown ups around them. Positive reinforcement is a great way to keep your confidence and energy up.

                         

                        Thanks for sharing your experience with us.

                         

                        ~Berta

                      • Re: Fear in Small Business
                        jonathan nzali Scout

                        Hi,

                         

                        Having a lot of self-confidence was very crucial for me. There have been too many nay-sayers, doubters, and plenty of unbelievers in many money ventures that I wanted to be part of. I found that believing in myself was the most crucial thing I could do to compel my things to work in the way i Hoped and to lead people to believe in me.

                         

                        To get there though, I had to work very hard, be a little stubborn sometimes, use all types of criticism as motivation tools, and best of all: I succeeded at simple little projects (such as running a marathon, hitting the gym 5 times a week, increasing my power lifting ability, etc). They key is that by accomplishing small simple tasks progressively I constantly increased my self-confidence and self-esteem which led to a higher than usual belief in myself. That in turn was crucial in nullifying any potential fear of failing I may have. This does not mean I always succeeded, but I was thrilled at the accomplishments, the fact that I went for it and did it, not necessarily weather It made me money or not. 

                        • Re: Fear in Small Business
                          joliemartin Scout

                          If you have good experience and well information about business market then sure that can handle your self and your fear very easily. I think that without good knowledge and market awareness investment in any kind of business is useless or a risk. 

                            • Re: Fear in Small Business
                              Moderator Berta Guide

                              Hi Joliemartin,

                               

                              You make an excellent point. It's a huge risk to invest in something you have no knowledge of. I agree with you that before investing or starting a business, you need to do your homework. Check things out & see how prosperous the investment/business will be. Is the business/service needed in your area? One should never go blindly into an investment or new business venture without first having researched it thoroughly.

                               

                              ~Berta

                                • Re: Fear in Small Business
                                  lance martin Scout

                                  Hi, moderator berta fear is in your thinking not in business. If you think whenever you start business you can’t survive. My question is that if you not pick up your first step how you can pick up next.

                                  Just forget about everything’s and focus on destination and work on it you will must achieve  your destination after a lots of hurdles and time but if you can’t work on it how you can achieve something.  

                                    Truth is that no one remove your fear you can remove it yourself

                                    • Re: Fear in Small Business
                                      Moderator Berta Guide

                                      Hi Lance,

                                       

                                      Thanks for your response! You're right, the fear is in ourselves not in the business itself. We are the only ones who can overcome our fears. I know that there are a lot of people who want to start a business but don't have enough confidence in themselves or their idea to start their business. My question is towards those who have doubts about their abilities. Even little doubts. It's those little doubts that if not handled in a healthy manner that will undermine the successfulness of their business.

                                       

                                      ~Berta

                                • Re: Fear in Small Business
                                  jonsain Adventurer

                                  Yeah.... When we think to start small business then we think lots of thought before start business, but these all in our prediction. If you think we can do then no need to fear to start a small business.  So go to next step to start business.

                                  • Re: Fear in Small Business
                                    jonsain Adventurer

                                    Hello Berta,

                                     

                                    Great question, when we go to start any kind business we thought same think, but we need to go positive because if our direction is positive then we can make sure our hard-work will be successful to get target in new business.

                                     

                                    You know when we do job for anybody we also need to do hard-work for his/her company, because they paying us for only our work as same handwork we will do for own business, then we can't fail.  I'm saying that because mostly new business men didn't hardwork and after lost business said our plan is failed. So go with positive thought with hardwork.l

                                      • Re: Fear in Small Business
                                        joliemartin Scout

                                        These points are really very amazing which you have mentioned above. I am always searching that type of information because business and its formation information is my favorite. In fact! Knowledge is a great power, share more information with us because every business without information can not run successfully.

                                         

                                         

                                         

                                         

                                        wholesalepages.co.uk

                                      • Re: Fear in Small Business
                                        jonsain Adventurer

                                        Hi joliemartin ,

                                         

                                        You are write information very important part to run business powerfully, successfully. If we have information then we can make sure our business will be go proper.

                                         

                                         

                                         

                                        Point of sale companies.