Big Fears of Small Business Owners

Big Fears of Small Business Owners

At Halloween we all like to think that being scared is fun. We purposely go on haunted hayrides, visit spooky houses, and watch scary movies just to give our hearts a serious workout. Yes, sometimes fear can be fun, but if you are a small business entrepreneur, fear can hold you back from making smart business decisions. Here are some of the biggest fears of small business owners:

  • Fear of Getting Help: Because we are “sole” business owners, we sometimes think that means we have to do everything by ourselves, but that is not true. A smart small business owner knows when to ask for help, work with a mentor, or hire somebody to work on certain aspects of the business.
  • Fear of Digital Technology: Younger entrepreneurs might not have this problem, but older entrepreneurs who didn’t grow up with all of today’s technology are a little afraid of it. As a result, they don’t learn how to use it to their advantage to communicate with customers and prospects, or to help market their products and services.
  • Fear of Success: This might seem an unlikely fear, as getting ahead is why most people choose to start their own business. But some entrepreneurs can’t cope with their business getting larger or the feeling that they might lose control, so they subconsciously take actions that sabotage their own success.
  • Fear of Failure: The opposite end of the success spectrum is the fear of failure. Some small business owners worry so much about failing that they fail to see the forest for the trees. They become paralyzed by their fears and don’t take the actions necessary to achieve success.
  • Fear of Commitment: No, this isn’t about a relationship with a significant other; it’s about your relationship with your business. You’re not sure if it will work out in the end, so you don’t put your full effort into making a go of it. When you are not totally committed to the relationship, it shows. Put your heart into it and your business relationship will blossom.
  • Fear of Being Alone: Almost worse than being in a committed relationship, some entrepreneurs don’t even start a business because they think they will be alone. That doesn’t have to be true. The best part of being the owner is that you make all the decisions about how you control your time.

The only way to get over your fears is to confront them directly. Realize what you are doing, and gather information to help you move forward. Make a decision and go with it, as making no decision will only leave you in the same place. In his first inaugural address Franklin Roosevelt noted that, “The only thing we have to fear is fear itself.” Some types of fears are good and others are destructive. Don’t let your fears hold your business back from becoming its very best. Be brave and go into the decision-making process with your eyes wide open!

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