Overcoming the Fear of Starting a New Business - Infographic

This infographic, based on survey results conducted by the UPS store, provides a great insight into the real fears that most people experience when deciding to start their own business. For many of us, we think that the fear we experience is down to the fact that the idea won’t work, or we won’t get the investment, or people will think we are mad etc. when in reality, the fear is just a ’necessary’ feeling for us to push forward and take a leap of faith. If you are worried about starting a business, it is not a sign that the idea will fail, so sit back and relax! Don’t sit back and relax for too long, though, the work of an entprepreneur is never done and you have a lot of planning to do! 

Infographic summary

- Just over half of all SME owners felt ’prepared’ when first starting their business, which indicates a staggering 45% of entrepreneurs did not!

- 33% of ’current business owners’ worked fulltime to someone else when they were starting their own business venture. This is an interesting concept, particularly for those individuals who are worried about giving up the security of their job in order to pursue their business idea.

- The most common reasons for people working fulltime when first starting up their business included developing their skillset further, securing a steady income flow and taking advantage of opportunities to build a potential client base.

Overcoming start up fears

Feeling out of control or worried about going at it alone is perfectly normal, but this ’normal’ feeling doesn’t always help us, in fact it can hinder us and cause unnecessary anxiety that may harm our chances of success. As such, you need to follow some simple tips on overcoming the initial ’start up fear’. Here are some tips to get you started:

#1 Talk to people in the business - this means reaching out to entrepreneurs in the same area as you or industry experts who can help guide and advise you in the early stages.

#2 Write down your goals every day - this will help you to re-energise and focus directly on the important tasks ahead without letting yourself get distracted by the initial fears of failure.

#3 Fake it till you make it - by imaging yourself as a successful entrepreneur at every opportunity you get, you will start to believe in yourself and through the law of attraction you will draw in opportunities that will ensure your start-up will be a success.

Have you considered becoming an entrepreneur and starting up your own business? If so, what are your fears? How are you overcoming these fears in order to pursue your business idea? Let us know in the comments section below!