Entrepreneurship is often seen as a thrilling journey filled with innovation, freedom, and the potential for significant rewards. However, beneath the surface lies a universal feeling that every entrepreneur encounters: fear.
This fear stems from the deep personal investment entrepreneurs have in their businesses. Much like a parent with their child, business owners nurture their businesses with care, dedication, and an unwavering sense of responsibility. Today’s fast-paced world, where successes and failures are broadcasted widely, can intensify the fear.
But fear doesn’t have to be paralyzing. We can shift our mindset and equip ourselves with facts to make sound business decisions and steer our businesses in more promising directions.
In the podcast, we share some of our greatest fears surrounding our individual businesses. Then, we talk about some of the common fears that entrepreneurs experience—fear of failure, fear of financial instability, fear of inadequacy—and how we can reframe and respond to those fears in order to overcome them.
↓↓↓ Listen to the episode below to learn how we’ve experienced and dealt with fear as entrepreneurs.
How We’ve Experienced and Overcome Fear
One of the most common fears in business is the fear of failure. To overcome fear of failure, it can help to view challenges and setbacks not as failures, but as opportunities to pivot and adapt. This approach not only reduces the fear of failure but also fosters a culture of resilience and continuous improvement.
Financial anxiety is another source of fear for entrepreneurs. When revenues fluctuate or expenses rise, it can feel overwhelming. However, a thorough review of financial outflows and making necessary adjustments can provide a sense of control and stability. Also, it can be inspiring to learn what others in your industry are earning, which gives you insight into what’s possible for you.
Then—and this is a big one—fear of inadequacy. On social media, people may look like they’ve got it all together. Yet, when you really start talking to people about business, so many entrepreneurs struggle with feeling like they’re just not good enough. It’s important to celebrate small wins and acknowledge that being “good enough” at the current stage is perfectly okay. Every phase of business and life has its unique value and lessons.
Entrepreneurship is a journey fraught with fear, but also brimming with opportunities for growth, realignment, and self-discovery. By reframing failure, practicing financial prudence, and embracing the present, you can navigate their paths with greater confidence and resilience.
Free Journal to Overcome Fear in Your Business
Sign up for our mailing list and get your free copy of our Fear Journal. Use it write about your fears and how you’re working through them to move into confidence. We’ll also send you regular emails to keep you up to date about what’s going on at the Business Besties Podcast.
From the Episode
- Get Teri’s buttermilk pie crust recipe here.
