Scared of Failure

[biz123]

I'm sort of in the phase where I'm so close to making my idea a reality but am hesitant of going forward because I'm scared of failure.

Here is a good article about many entrepreneurs feeling the same thing:

http://news.bbc.co.uk/1/hi/business/7035896.stm

I think that before we start businesses we have this grand vision of what it will be like and are scared of confronting reality.

Anyone else felt this before you started your ventures? And I'm not talking about an online business but a real world business.

I'm not saying that I won't start my business because I'm scared, I'm just aknowledging it rather than sucumbing to it.

[meaghannf]

I understand where you're coming from but I think that having a sense of possible failure can help prepare you to be more successful. If you understand where there are pitfalls, you can avoid them more easily. People who don't see any potential flaws with their idea might have a harder time when problems do arise.

I'm not saying any entrepreneur should be pessimistic about their idea - if it's a good idea you should go for it! But having a health sense of credulity has always helped me .

[Carrie.S.H.]

I must say that in most projects, when I seemed to mistake for fear of failure was actually my unconcious warning me that all was not well. I have learned to carefully examine my insecurity and move forward when I have full faith and strong self confidence, instead of allowing doubts to persist.

[freedom.project]

When you confront fear, just look back to a simpler time in our lives. Where our moms made PB&J sandwiches the perfect way.

One of the greatest lessons from our childhood that we can use from our day to day operations of starting a business or new investment is from riding a bike.

Think about. You knew that there was a chance that you could fall off your bike and fail. But did that stop you. Not one bit because you had this intense desire to ride down the street with your friends. So even though you fell off over and over again and you always got back up and tried it again. And sure enough, you got it right and never look backed since.

So when starting a new business, running your existing business, or venturing into a new investment, just remember that burning desire that you wish to achieve so much and continue forward without hesitation.

My best wishes,
Steven

[theprodigy101]

Here's something about fear I wrote in a blog post of mine. It's not the easiest thing to do, but you have to consciously fight through fear.

"Sometimes we fear things and we don’t even know it. Whether it’s running for class president, starting a new club at college, or starting a new business, certain things- whether it be the fear of failure or uncertainty in our abilities- things hold us back. But I’ve learned that the best thing one can do is to just take the leap. I know it sounds ambiguous, but that’s all there really is to it. If you believe you can be a success at something, you just have to go for it. Often times our brains are hard wired to think negatively, and so it is important to overcome this automatic connection by continually reinforcing positive thinking patterns. And by doing this it makes it easier to take the leap, which is exactly what I am doing."

[latinolive]

As an attorney, a helpful site of my clients referenced that provided helpful information as to the "how to" of starting a company/a tool kit is Innoventum, Inc. I learned of this company a few weeks ago and referenced their website. Looked impressive at the time to me with its helpful free articles and statistics as to why businesses fail. You may want to check it out.

Carlos

[rogercbryan]

Fear of failure is my motivation to succeed. When I finally decided to quit my 'day job' to go full time with my company I was scared as hell. I was giving up a pretty cushy job and taking a large pay cut to go into business for myself. April 1st, 2008 was the one year anniversary of the day I quit my old job. I haven't looked back and still think that working without a safety net has been what has compelled me to work so hard to make my company profitable.

[JLeezer]

If you first root yourself in reality, you will at least not be setting yourself up for failure, and will therefore reduce the actual chances of failure substantially. With your newly reduced potential for failure, start focusing on what you can learn from each challenge (note: NOT problem) you encounter.

If you move ahead with your idea without first realizing that you grand vision is probably much further out than is presently feasible, you certainly should be scared of failing because you've already nearly guaranteed it.

[Nigami Enterprise]

You Can't Fail Unless You Quit!

[entrpreneur 15]

I agree. you cant fail unless you quit. But also ask yourself, what is the line between failure and success ?

[InsomnicBrain]

I'm in the same position. I'm opening a automotive shop in two months and have been trying to prepare myself. I've posted a few posts on here because I've been really scared of failure. I stay up all night trying to brainstorm, reading all the material I can but I still have this butterfly feeling in my stomach of failure. I'm always thinking the what if's. Someone told me I might A.D.D.

I have looking at a profit and loss projection for 2 weeks now. I have been trying to tweak all the numbers on the spreadsheet but the only thing I see me getting to my break even point is increasing total income, even if I reduce costs. I'm scared of the people not walking in that door even if I work my tail off to advertise. I have a lot riding on this, I quit my job and I dont want to retun to it. Has anyone been in the same situation and overcome this? Great post by the way.

Thanks...Robert

[symteksolutions]

People always say startups wont make it etc. But EVERY company at one point was a startup. So do not cut your dreams, but in the same sense always have a backup plan.

[ron komorowski]

You Can't Fail Unless You Quit!

Not too much more needs to be said after that line! Truth.

First, let's call it fear of a disappointment. This "fear" is what I call paranoia, which is needed in business to keep you racing forward. You don't have it; you get run over by the competition. You go home. Period.

Don't ask any questions, this is the way of business life. Like Donald Trump's 10 tips of business; one is "Be a little paranoid"

Next, failure....what is that? Get it out of your head!!!!! There is no such thing!!! It is a learning experience if things did not work out as well as you planned. You will be that much closer to succeeding the next time as you learned a truly valuable lesson.

Last, I have a big framed picture on my wall of a guy hanging off a cliff as he is climbing a "backwards" slope of a mountain. At the bottom it says "Fortune sides with he who dares" I stopped for a moment many times in front of that picture on my wall. Read it maybe a hundred times.

You'll be fine. Good luck. There are plenty of sharp people here who can advise you along the way.

Ron
Inventor of Handi-Straps
Handi Straps Lifting System Home

[hugh009]

Actually many times in my 34 years of serial entrepreneuring I think it has been more a FEAR of SUCCESS that has gotten me.

Hugh

[oam]

Just wanted to share that this is a huge concern for me as well. Hard to jump into the ocean unless your sure you can swim! I've always been the type to dip my feet in slowly, get used to it and then confidently dive in. Sometimes thats not always possible, and I applaud anyone who dives in, no matter how long it may take them.