Wednesday, March 30, 2011

How to Get Over The Fear of Starting Your Own Business

How to Get Over The Fear of Starting Your Own Business

Just the thought of starting a business can send your anxiety levels through the roof and usher in a state of panic. The myriad of thoughts swirling through your head, including questions related to your proposed product or service, marketing plans and potential for profit, can lead to more questions and doubts. This vicious cycle of doubt can derail even the best-laid plans for a new enterprise. Cast doubt aside and learn how to handle your fears when setting out on your own.

  • Evaluate your skills and take a realistic look at the business knowledge you possess. Fill in any gaps with additional research, training, education or mentoring. Prepare as much as possible for your new venture by developing a business plan and researching industry trends and statistics. Proper preparation can help clear up any misconceptions and provide much needed guidance when starting a business. Reassure yourself that you have what it takes to meet the demands of your new business.

  • 2
    Embrace your passions. Think of starting your own business as an extension of yourself. Consider not only possible profits when starting a business, but also consider the fulfillment that stems from following your heart and doing what you love for a living. Tap into this passion when times get tough and you feel like giving up. Let it fuel your creativity.

  • 3
    Write down your thoughts and ideas in a journal. List all of your concerns related to starting a business. Identify what is holding you back from starting your own business. Include notes related to procedures or regulations you need to clarify. Keep track of your accomplishments and successes as well. Review your journal entries on a regular basis to help keep you on track and provide motivation for starting your business.

  • 4
    Seek out help. Look for local business resources, such as the U.S. Small Business Administration, and reach out when necessary. Utilize these resources for guidance on issues beyond your comfort level such as obtaining the necessary operating permits. Find an attorney and an accountant for help with legal and financial matters. Use these resources to your advantage by allowing them to clear up any doubts you have about business and financial matters.

  • 5
    Take it one step at a time. Start part-time if necessary to get your feet wet. Evaluate each aspect of the business and expand at your own pace. Refuse to be overwhelmed. Break each step or action into small, manageable tasks.

  • No comments:

    Post a Comment