Handling fear in your new business ventures

So you've taken the plunge and are going it alone. Good for you! Commonly, though, new soloists find they get the nerve to start their own new business venturesbusiness, only to find that once they're up and running, new anxieties are taking their place.

These new fears in your new business venture may include:

What if nobody buys my product?
What if I call a prospect and they think I’m not good enough? After all I am brand new in business!
What if I don’t know what I’m doing?
What if I perform poorly for a client?

The list, in fact, is endless.

Most new business venture owners experience this sudden sense of panic. I know I did! Typically it is only a problem if you allow it to stop you moving forward. If the fear prevents you picking up the phone to call a prospect then it is getting in your way of succeeding.

Here are five strategies to help you get through this stage of fear:

Strategy 1

Share - fears always minimise when you share them. Everyone has fears so there is no need to feel you are the only one. Confide in a trusted ally and the fear will start to dissipate.

Strategy 2

Ask yourself: if you did the thing that is causing you fear - what is the worst thing that could happen? If that result actually eventuated what would you do about it? Would there be a solution? Probably … so is it really worth spending time and energy worry about it?

Strategy 3

Reframe your fear. This involves coming up with an alternative logical or objective viewpoint. For example, if you have a fear of failure you might reframe this to say “It is better to have a go and fail that not try at all”

Strategy 4

Create a positive and empowering message. Instead of focusing on your fear of failure you might say to yourself “I am successful simply because I took action”

Strategy 5

Choose to take an action! How many times have you been afraid to do something and when you FINALLY summon up the courage to do it you immediately think to yourself “That wasn’t as bad as I thought it would be”. You may even feel a sense of exhiliration at having faced your fear and come out on top.

The golden rule to remember is: fears diminish rapidly as soon as you begin to take action.

As the saying goes: “Courage is not the absence of fear. It is doing what it takes despite your fear.”

Linda Anderson is a Certified Professional Coach dedicated to helping people live bold and rewarding lives. Linda has an energetic and direct style of coaching which suits people who like to be challenged.

23 Feb 07

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Great advice, Linda! Fear of failure was the biggest thing I went through at the start of my business, despite being a coach myself, and I used most of the above strategies to move myself forward. Having been through it I recognise it regularly when coaching small businesses and individuals, its very common. A great book that can help is You Inc. by John McGrath. Some inspiring words. Simon Smith, www.southerncrosscoaching.com.au from Sydney
As a long-time soloist, I agree with your 5 point fear subsidence process - especially number 5 - fear and action are incompatible, and as actions speak louder than words............. Grant Hyman from Sydney | Read my articles
Thanks, Linda - great article. I find talking to other trusted soloists really helps to get it all in perspective. And, of course, 'feeling the fear and doing it anyway' does seem to be key in overcoming fear itself. Megan Hills from Brisbane | Read my articles
As a soloist, I think that i follow my gut instinct, I am currently running a open mike comedy room at Union Jacks Ale house in Brisbane, right now i have comics who have run rooms to join me in forming new opportunities, but while sometimes i might get impatient to expand quickly, my previous experience and gut says no.. so it is really delicate and have to time a business decision really carefully.. move too quick and it could cost you financially, move too slowly and the opportunity is gone( For the moment anyway). Right now i want to use the venue as a template for other venues, I have also expressions of interests to form rooms interstate.. I have a feeling it is going to explode, although i need to pace myself... this is the tricky part about starting a business. Anyway I fear that I maybe too successful too quick.. sounds strange, Ive been broke and on my financial needs before so there is no fear of that.. has anyone feared that they too might become too successful, that it outpaces them. darrell_dower from Brisbane
Fear of success ... not as common as it's good friend "fear of failure" ... but a real fear for some people ... you are not alone.
Try using Strategy 3 to balance out this fear ... reframing is very effective.
Linda Anderson from Sydney, Australia | Read my articles
Great article Linda! It's true, even those with the strongest product still have to break through their own barriers on their road to success! I highly commend your point on what I've been taught as "detective thinking" it's always good to keep things in perspective. I now always ask "what's the worst that could happen?"
I find that taking a simple but disciplined approach helps: I set short term and long term goals for myself. By keeping it simple, I avoid feeling overwhelmed. Baby steps! This technique has helped me overcome everything from the fear of cold calling to my fear of spiders! Michele Hackshall from Belrose | Read my articles

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