0

How do Fears Hold Back Entrepreneurs

By Office Space TorontoIn standard12th November, 2014

small-business-fearsEveryone loves a success story. But some would-be entrepreneurs may harbour fears that stop them from taking the jump from a “9-to-5er” to owning their own business and taking full control of the work they will do. Fear is one of the most difficult emotions to overcome, especially when it comes to financial stability and success.

The biggest fear entrepreneurs face in their quest for success is the fear of failure. But sometimes, it is the fear of failure that actually makes a small business owner more successful. That fear drives them and gives them the desire to work harder and focus more on getting the job done.

One of the first fears that a new small business owner or entrepreneur has to overcome is the fear of selling themselves or making that first sale that will get their venture started. Selling themselves, their business idea or their product to an investor or lender can be a terrifying experience – especially if they have never handled any type of sales before.

Sometimes, when trying to overcome the fear of selling their concept, product or service, smart small business owners will look for expert help. Finding an ace in the deck to help them achieve their goals, can often cost less than trying to do it on their own. This is why consultants exist.

If an entrepreneur has not had much experience at public speaking or making verbal proposals, they will find it hard to become an ‘evangelist’ for their company or product. It is a challenge to learn how to step up to the podium and share with others – but they need to learn that the most successful public speakers often thrive on fear of public speaking to deliver their message.

On the road to becoming an entrepreneur or small business owner, many have heard the expression “what is your elevator pitch?” – but few know how to and when to deliver that message. They fear how to initiate the elevator pitch, but more so fear they cannot pull it off. Practice and observing others is often the key to getting it right. But being willing to modify it, is what might make it better.

The fear of conveying the proper perception is often another problem. Small business owners want to know what their customers think of their product, their service and where they do business. Customers will often look up where a company has its office space or business located. They want assurance that the company they are dealing with is legitimate and professional. Having inexpensive office space or virtual office space at an office business centre (with a prestigious business address), can often impress a customer and relieve their fears – fears that they are not doing business with a “fly-by-night” company.

While we can point out fears that entrepreneurs and small business owners encounter, it is harder to reveal how they can overcome them. Knowing that these fears exist and that they are not alone in having these fears, is the first step in learning how they can accept and begin to work through them.