The 4 Mental Barriers New Business Owners Must Overcome Sooner or Later
Not sure if you have what it takes to start a business?
Truthfully, nobody does until they try.
But when we so many stories about businesses going under and the struggles the everyday entrepreneur, it’s only natural to have some doubts. However, also consider how you may very well be your own worst enemy when it comes to starting your own business.
Perhaps the most prudent thing aspiring business owners could do is prepare themselves mentally first and foremost. There are four common mental barriers that trip up new entrepreneurs, but understanding them from the start can make your journey toward your own business much less daunting.
Fears are Fine, Taking Action is Not
Even if you consider yourself to be relatively confident in your personal life, starting a business is a whole different ballgame. From person sacrifices to financial commitments, taking the lead into entrepreneurship is undoubtedly difficult for just about anyone. Many newcomers are downright paralyzed by fear to the point where they give up entirely.
But ask yourself: what’s the worst that can really happen?
That’s exactly what investing mastermind and entrepreneur Tim Sykes poses to readers in his guide detailing how penny stock investors can overcome their fears. There’s always going to be that sense of doubt of voice in your hand, but what really happens if you fail? You’ll have to get a traditional job? Seriously: the risks are most definitely worth the potential rewards.
Be Prepared for Naysayers
When you tell your friends and family that you’ve decided to start a business, be prepared for a whole slew of different responses. Some people will tell you it’s a terrible idea: others might just flat out laugh in your face.
Bear in mind that many people project their own insecurities upon entrepreneurs because they wish they could escape the daily grind and start their own businesses themselves. You should of course listen to people with legitimate concerns and advice; however, you shouldn’t let someone talk out of your goals.
Look at the Big Picture
It might seem to cliché to say that failure makes a business stronger in the long-run, but the fact remains that every entrepreneur makes mistakes and learns from them accordingly. You might lose a client or customer for a silly reason. It happens. You’ll live.
Don’t obsess over your mistakes. Instead, look at how your small victories paint the bigger picture of your business and its potential.
Everything Can Change in an Instant
This is a harsh pill to swallow, but a necessary one.
There are no “sure things” in business, plain and simple. Think about how obsolete businesses and industries such as video rental stores and bookstores have completely gone the way of the dinosaur. The landscape of any given industry can shift at a moment’s notice and there’s little that we can do about it other than adapt.
The takeaway here isn’t that you should live in constant fear, but rather accept that a seismic shift in your industry could be just around the corner.
Don’t let your doubts, fears and “what-if’s” hold you back. Once you accept and acknowledge these mental hurdles, you can overcome them and focus on getting down to business.