You will be your own boss, work from anywhere or at anytime, be incharge of your work schedule, escape work drama, take any day off, e.t.c, are some of the things promised when you choose to go the route of self employment and have your own business. I am surprised no one talks about the fear of starting a business especially if you are transitioning from a job where you have enjoyed a steady paycheck. I was in this place not many months ago and boy O! boy, it is dauting. The fear alone is not of this world. Fear is a natural, powerful and primitive human emotion that alerts us to the presence of danger or the threat of harm, whether that danger is physical or psychological. Sometimes the fear stems from real threats, but it can also originate from imagined dangers; thinking about it, my fears for starting a business are mostly from the imagined dangers. If you are in the same league with me, I am here to ‘shame’ these fears so that we can get ahead of them and tap into the unending promises we have been given.
Where do I start
This is the first and arguably the biggest fear of starting a business. There is a way ideas flow in the beginning and everything seems possible. You picture yourself an instant billionaire once you begin, then that evil small voice starts to read for you everything that could possibly go wrong. The changing of goal posts becomes a ping pong, switching the business ideas from here and there. This place is very scary but not the end for sure. It is rocky in the beginning but the brain finally settles on one that you think you can mostly handle, majorly in the line of your passion. For the time being, don’t panic, your mind is just going through a process.
Are you crazy!
Call it being radical if you like but it takes alot of courage to leave a sure paycheck at the end of the month and decide to swim in the turbid waters of self employment where there is no guarantee. Matter of fact many people will confirm your craziness and it just makes the fear worse. Are you crazy? Maybe you are, but you will be crazier if you never take a risk and work for someone else for the rest of your life. Risk is part of the whole package believe me but the way to fight the fear is to step out on a limb, believe in your talents and convince others to believe in them, too. It won’t be easy, but it is not impossible either. Accept your craziness and then appreciate that it’s the crazy ones who end up making a difference in the world at the end of the day.
Will I get all the funding?
There will be a few people who have all the funds that they require to start a business but very many will tell you start with what you have. When you wait out to get all that you need, you may never begin at all or the money can find other things to do. Steady process building might be the best option that you have and build your way up. Remember a journey of a thousand miles begins with one step.
Breaking even in business is one sure fear that one cannot avoid. You think of when you will begin to enjoy the fruits of your business, when you will have gone through the necessary mistakes and now have a grip on the way your business is running. If you are still confused about what ‘breaking even’ means, it simply means that point at which the total revenue equals the total costs or expenses, in other words, at this point you have no profit or loss. This point gives the business owner a clear idea of how much needs to be achieved to avoid a loss and make a profit. For some businesses this comes quick, for others it even never comes, so the thought of it can be torture. If you invest in your business and don’t see an immediate return, keep working my friend. Should you quit before you earn a profit, you’ll never earn a profit. Get as much help in navigating your business and it should be okay.
What other fears do you have starting a business? Let us shame these fears and kick them out of our way.