Fear is a interesting topic in the business world… One of the core themes of capitalism is that innovation is the key to attracting more business and expanding. However innovation itself means going against the norm and often accepted way.
This is where fear takes over for some people: They do not wish to risk and so their start ups suffer over the long run. Many of the most successful entrepreneurs today both locally and globally have been flat broke at multiple points in their life (often from failed business adventures), but its only through overcoming their fears (fears we all have) that they were able to climb the business ladder.
Today Jonathon Darker of SMEasy shares his insights on the most common fears entrepreneurs have and how to adress them. He covers the following topics:
1. Leaving the comfort of working for a corporate:
It’s comforting knowing that at each month end you will have a dependable salary that will cover the costs of living, starting your own business is full of risk and the outcomes far less certain.
2. Dealing with criticism or lack of support:
Perhaps the most disheartening aspect of starting a new business is that often many you expect to be supportive will not be so, often due to selfishness.
3. Where to start:
So you have this great business idea. Now what? Many feel overwhelmed and simply dont know the process of creating a company.
4. Struggling to get funding for your new business
Post 2008, this has become increasingly difficult, many banks and governments have enacted strict legislation to avoid another financial crisis, this is where innovation is vital!
5. Fear of failing
Undoubtedly the biggest fear. No one likes failing, its a horrible feeling. Many news business fail as well, its a harsh truth to hear. These facts as well as wondering what your Family/Friends/Business circles will say about your failure often stop people from starting their own business.
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