Overcoming The Fear of Starting an Online Business
Hello joe,
Recently
I was interviewed by a fellow internet marketing guru for an upcoming
product launch. The interviewer asked me how I got started in the
business. I told my usual story about working for the "man” and getting
sick of making someone else rich. The interviewer also asked me what I
thought the one thing that holds people back from taking the same leap I
did, starting my own internet based business. Without missing a beat or
having to think about my response I answered "fear.”
I can't
tell you how many times I've heard "I want to start my own business,
but…” Followed by any number of reasons. Typical responses are "I don't
know what to sell”, "I don't know how to set up a website”, "I don't
have time”.
All of
these responses are rooted in one thing--fear. The fear of the unknown. The fear of failure. The fear of judgment.
Your
fear is the strongest force holding you back from your potential. It's
not talent, ambition, the economy, money or time that stops someone who
truly wants something. It's fear. And it's stopped countless great
businesses before they even began.
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What
many of us fail to realize though is that playing it safe has
its risks too. Can you imagine if Steve Jobs gave up after his first
personal home computer didn't work? Or can you imagine our world if
Thomas Edison had walked away after his first attempt to create the
light bulb failed? What about if Thomas Jefferson had been too fearful
of retribution from England to draft and sign the Declaration of
Independence? The ability to overcome fear has often been a mark of
spectacularly successful people throughout history.
Knowledge Offsets a Lot of Fears
Fear
of the unknown can paralyze a person. It's easy to build up in our
heads all of the things we don't know how to do when starting a
business. What you fail to realize is that every entrepreneur was in the
same boat as you at one point.
If they were good at marketing
then they didn't know how to do payroll. If they knew how to take care
of the books then they didn't know about product creation. Nobody goes
into business knowing how to do
every single facet of it. Knowledge has the ability to calm even the
worst fears. The more you know, the less you fear.
Take the power
out of fear by gaining knowledge about the things you don't understand.
If you don't know how to do the accounting side of a business look into
how much it would cost to hire a book keeper. If you don't know how
much it costs to print and package products, call a print house and get
quotes. Research all areas so you genuinely know the risk of failure and
the benefits of success.
A Little Coaching Goes a Long Way
Did
you know Tiger Woods has a coach? The best golfer in the world still
takes lessons and direction from someone else. So does Martha Stewart.
The woman who built a hugely successful business has been known to show
up at her local hardware store for lessons on home renovation projects
like grouting tile. If these uber-successful people can still take
lessons when they are at the
height of their game, don't you think you could too?
Coaching
programs are great for those entrepreneurs who want to dip their toes in
the pool of success before they dive in head first. A good coach will
help you get over your hurdles and overcome seemingly insurmountable
obstacles. No matter what field you are looking to get into there are
mentor and coaching programs available. Go to the website of your
favorite industry leader and check out their coaching program. Nearly
every successful guru has their own coaching program (ok, I don't but that doesn't mean I wouldn't take on a client here or there).
Take Away the Power of Your Fear
What
is it you fear the most? I want you to imagine the worst case scenario.
Is it losing all your money? Is it having to tell your family and
friends you failed? Is it having to look for a new job? I want you to
imagine your worst fears coming true.
The goal here is to turn
the light
on and face whatever monster is under the bed. Take away the power of
your fears. Reality probably isn't as bad as your worst fears. Most
people underestimate their ability to pick themselves back up.
If
you started your own business and it failed, how hard would it be
recover? The answer is probably easier than you think it would be. How
hard would it really be to find another job? Chances are you could
recover within a few months' time. Is the fear of a few rough months
strong enough to hold you back from living the kind of life you always
wanted to?
You can also take precautions and take the necessary
steps to minimize the possible downsides. You can structure your
business to reduce your personal liability. You can build up your
emergency fund before you start. You can keep your day job until you're
sure your new business is going to be a success.
Dive In Headfirst
History
books tell us that the Greeks were some of the
fiercest warriors. When Greek warriors crossed the sea to do battle, the
first thing they did after landing was to burn their own boats. They
effectively stranded themselves on the enemy's coastline to strengthen
their resolve to win the battle. With no other option other than
victory, the Greeks put everything they had into their battles. When
failure is not an option, you have no choice but to succeed.
You
can burn the boats too by doing something that will force yourself into
action. Sign up for a seminar. Register a URL. Put together a business
plan. Sign up for a coaching program. Open up a business account at your
bank. Don't let your fear hold you back any longer, jump right in to
get started.
Would it comfort you to know that I was afraid of
failure when I started my first business? Every entrepreneur gets some
anxiety over their next adventure. You wouldn't be human if you didn't
have at least a little bit of fear. How you handle your fears is
what will set you apart from the rest. You will either take the steps to
achieve your dreams or always wonder what your life could have been
like if you had just tried a little bit.
Good luck!
Ethan Warrick
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