WRITTEN BY YAHEL DEMETER
We are all entrepreneurs. Young, old, employed and independents. The main difference between most people and successful entrepreneurs around the world is the ability to summon the courage to implement good business ideas.
This first step, which is the hardest, is a subject that has preoccupied me personally for years. Over time, I learned to divide this system of fears that keeps people from realizing their business abilities into three main fears, all of which have solutions.
FEAR OF WHAT SUCCESS WILL ENTAIL
Believe it or not, but there is such a thing as "fear of success," which is often confused with fear of failure. Don’t get me wrong, no one is afraid to succeed. That is, no one who is asked if they want to succeed says "No thanks, I'm afraid." It's about the fear of what success would entail, which actually causes them to sabotage their own chances of success, absurdly enough. It’s a host of fears, such as fear of responsibility, fear of criticism, fear of imperfection, fear of losing friends and even fear of lawsuits or fear of dealing with the authorities. This "self-sabotage" will usually take the form of seemingly unrealistic barriers that appear self-evident. When you break down these fears and many others like them, there are ways to deal with each one through knowledge. That is, knowing what might happen and having the appropriate solutions. For example, anticipating the degree of responsibility, knowing how to deal with criticism, knowing when to compromise in order to implement an idea, and understanding how perfectionism can sometimes impair the realization of ideas.
THE FEAR OF LOSING EVERYTHING
Entrepreneurship is a muscle that needs to be trained, and the more you train it the less afraid you become. Because know that almost every idea can be tested effectively in advance, and there are ways to improve your prospects, minimize risks and increase the odds of success. The fear of losing everything is associated with the fear of criticism (what will people say about me if I fail) and financial worry, since the realization of ideas usually involves financial investment. So first of all, investors can always be interested in ideas that are thoughtful and address problems that many people face, especially when there is a proven match between them and the market, consumer demands and capabilities. Secondly, there are ways to realize ideas incrementally, with each stage financing the next, until you reach the point where the idea generates enough profit on its own and finances the next stages of development, or are prepared to raise funds from various sources, of which there are quite a few.
FEAR OF INEXPERIENCE
The lack of business experience is evident when people are required to make decisions and provide answers. They are afraid of making mistakes and rightly so. The solution to this is not necessarily to learn everything, but to understand what areas you should study and in what areas you should seek assistance from others. People aren’t always aware of their strengths, and even if they are, they don’t always use them. If you list your strengths on a piece of paper, you’ll probably notice that you don’t use them all. When an idea stems from your first-hand knowledge of a problem, business experience becomes secondary, in my opinion, because the important experience is practice. Once you decide what to learn in order to close the gaps in your business knowledge and know when to seek assistance from others, things become simpler. Personally, I outsource issues that require constant study and ongoing practical experience, because those two things together are a job in itself.
Remember that even the failure to implement an idea is a success, because even if you didn’t succeed the way you planned to but you were careful, at worst you learned something about how things work and strengthened your entrepreneurial muscle. The solution lies not in how many ideas you have but in how much you allow yourself to dream and bring them to fruition.
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