Business StrategyPsychologyStart Business

What can you do to overcome the fear of losing everything while starting a business?

One of the major holdbacks when it comes to starting a company is the fear of losing all of the money invested into the project. Even if an individual has his or her own savings which can be invested without a need of returning, a possibility of losing them is still not appealing by any means.

Still, if this is your major obstacle on the way to becoming an entrepreneur, it is certainly worth working on it, especially if you have some funds you can invest. It will be really very sad if you have a great business idea and a starting capital and this internal fear will not allow you to fulfil your potential.

This article will help you to deal with this nasty feeling.

Keep your current job position at the beginning

Undeniably, starting a company while still working for another company might not be possible in some situations depending on the nature of your new business and your current working schedule. Yet, in many situations these two activities can go along with each other. Beyond a shadow of a doubt, this will mean you will be rather busy, so for the time being there will be no weekends and vocations for you. Yet, this is not a great problem when you know why you are doing it.

As you can imagine, having a stable income source until the moment when your company start bringing you real money is a great way to protect yourself and get rid of the fear and uncertainty.

Set realistic goals

Having realistic goals for your business is crucial, albeit, it does not mean you should not be ambitious. There is nothing wrong in a dream of creating one more Facebook, yet, it is crucial to set intermediate goals.

In many cases, people are frightened by the amount of things which have to be done in order to start a company and organise it work. In the reality, all you need to do is just to create a roadmap which is a plan including the most crucial steps. Move from one step to another step without being concerned about the steps which are still waiting for you. Focus exactly on the things you have to do right now.

If you work on your project in such a way, it can lead you really far growing more and more. Then, one day you might realise you have achieved your great goal.

Ask for support from your family and friends

There are many possible outcomes of any situation including establishing your own company. Try to speak about your plan with your family and friends, especially the ones who are open to new ideas. You might find that these people are ready to help you with some of the tasks waiting for you in your project. You might also find out that the majority of your insecurities exist exclusively in your mind. Having such open conversations is very helpful and it can boost your confidence. In addition to it, you might find out you can really count on the close people in various situations.

Understand about the unpredictability of the world in general

Undoubtedly, starting a new business especially when it mean you will have to leave your stable job at some point can be rather scary. Still, you should realise, there are no guarantees for anything in this world. Just like no one can ever guarantee your business will be successful, you also do not have any guarantees your workplace will exist forever. It might seem like that so far, however, the world is changing with each moment and no matter how much people believe they are keeping things under control, an individual can actually control only oneself.

For example, think about the pandemic striking people with great changes. Even large companies had to transform various parts of their work in order to make it possible to function. Think about all of the people who have lost their workplaces because of this unpredictable event. This happened and even though we might think about such a situation as of something tragic, actually, this is the reality of the world. No one can control it and there is no guarantee anywhere.

In any way, you will not know the future so a lack of guarantees should not stop you in pursuing your dreams.

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