Fear is a very real thing, and it’s reasonable to be fearful when you take on something as daunting as running a home business. Being afraid doesn’t mean you’re not brave. However, fear that isn’t managed affects your actions and decisions, and can be detrimental to your success as a business owner. Here are four different ways fear influences your ability to run a business:
You won’t take profitable risks.
If you’re afraid, you’re less likely to be daring. Running a home business is a daring experience. Much like a stock trader who holds their stocks too tight, you’ll never prosper if you never take a chance. This can mean making investments you’re unsure about to improve your business, or reducing the prices of your products to draw in more customers, or changing the entire look of your website. This could all go very wrong, but it could also go very right. You must be willing to take risks.
Your work will suffer from the stress.
If you’re more worried about making your bills than you are making your business successful, your attention will be on the money and not the product. Consumers can tell the difference. If your product is suffering, then your profits are suffering, and you’ve fulfilled your own worse fear. You cannot let the stress of your needs affect the way you run your business. If there is actually something to be improved, then improve it, but make sure you’re doing so from a professional perspective and not a fear-based one.
Your attitude will change.
Say you’re intimidated by the thought of people not taking your business seriously. If you think this, then it’ll show in the way you present yourself and your work. Businesses and consumers alike will respond to your lack of confidence by steering towards someone more certain of what they’re selling. Presentation is everything, and you have to believe in what you’re doing, or else others won’t feel compelled to believe either. Relaxing and letting go of unneeded stress is a habit you must develop.
You won’t pursue challenging opportunities.
Much like an inability to take profitable risks, you’ll also stay away from challenging opportunities. By approaching this major client and telling them your pitch, you could end up looking unprofessional, inferior, and represent your business badly. That is a very real fear and a very real risk. However, by not approaching them, you still won’t have the job and you still won’t have any profits. You must be willing to take on those challenging opportunities and accept the possibility that you might fail. If you don’t, you’ll never succeed. Additionally, your fear may begin sabotaging your business, so that you can escape the stress altogether – by making your business collapse.
Conclusion: The way to overcome fear is by managing it. Evaluate what you’re afraid of, decide if it’s valid, and then objectively come up with a solution. Holding back because of fear will only hurt your business.