Overcome the #1 Obstacle of Launching a Business

If you are an aspiring entrepreneur who hasn’t yet taken the first step toward launch, I’m going to take a guess that one of the things holding you back is a fear of failure. This is probably the #1 obstacle to overcome and it’s something that every founder faces.

No matter how great your idea the truth is, you have no way of knowing how things are going to turn out once you launch your business. And that, can be extremely scary.

The thing that sets successful people apart though is that they have found a way to get over their fear and embrace the uncertainty before them. If you think about it this way, that means there are many people who have gone before you who have figured out how to do this.

While there is no right or wrong answer, here are four tips shared with me by female founders on getting over your fear of failure.

  1. Invest the time to become an expert

Do your research and become the most knowledgeable person you know on your topic. With the availability of information at our fingertips there is nothing holding you back from soaking up as much knowledge as possible. If you’re confident in what you’re talking about, you’ll feel more confident in sharing your ideas, and running 110% after your idea.

  1. Financially Prepare

If you have an idea you want to run after or maybe just know that one day you want to run your own business, plan for that. Don’t up and leave your day job until you’re financially secure.  Save. Create a budget and have a backup for making money if you need it. You’ll be able to focus better on your work if you’re not burdened by the “what-ifs” if things don’t work out.

  1. Take it One Step at a Time

You don’t get from A to Z without a lot of letters in between. The thing goes for launching your business. You’re only going to make it from idea to ideal by taking things one step at a time. Set realistic expectations and goals for yourself that will keep you motivated and encouraged as you grow your business

  1. Be Specific About Your Vision

Success may look very different for you than someone else. Your vision may be to build something that gives you the freedom to work when and wherever you want. Someone else’s vision may be to become the market leader in their industry. Hold yourself accountable to your personal vision and remember it’s not failure if it wasn’t your goal in the first place.

 

And one last thing, remember there is no end to building your business. It is a journey. Things may not always turn out as you’d planned but that doesn’t make those steps any less valuable. Hold yourself accountable for learning as you go not for knowing all the answers up front and you’ll start to see uncertainty as opportunity instead of something to be feared.

Now it’s your turn. What are your best tips for getting over the fear of failure?

Leave your answers in the comments below and keep the conversation going over at @toastmeetsjam.

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