Fear of failure is something which every one of us faces at many instances of our life. Kids face it when they are undergoing through exams, teenagers face it when they are planning their future or appearing in a competitive exam or doing something beyond their comfort zone. Adults face it when they are starting up a new business or investing somewhere. This fear of failure can loosen up the confidence about what you are doing and make you skeptical. At the same time it can be positive,if it acts as a positive factor to fully go through the insinuation of what you are doing.
The kids can be coaxed easily but for the adults,it’s hard to convince themselves especially before starting up a new business. If you are setting up a new business and you think that fear of failure is setting you back and stripping away your power, it’s time to combat that fear.
Below given are few ways to fight the fear:
Perform a detailed research
The fear of failure can intensify if lots of facts are unknown about the business. However it’s certainly not possible to grab each and every snippet of important information, but the most important information and data can be collected and can be used to make the better decision and remove the fear of failure up to some extent. Having that knowledge can empower you from within.
Gathering relevant information from various sources doesn’t mean that you spend all the time in researching and lose insight on your main focus. It should not happen that you become totally lost in gathering information and finding it hard to move any further. Be attentive and steep while doing your research part but don’t indulge in it completely, just keep it in perspective.
Develop a strong business strategy
Creating an effective business plan is not that easy, but if you spend time on it, it will provide great results. An effective plan will not only help you to start over greatly but also keep up in thriving greatly in the business. It will act as a GPRS and guide you from the beginning and as you pass up each milestone of the growth of your business.
Setting up small goals can also be an efficient way to run the business smoothly and remove the unwanted fear. Smart goal setting procedure will help you in breaking down bigger goals into small action steps and reduce the fear of failure.
Keep another plan ready for emergency
Some might think that keeping a backup plan pushes you towards failure, but in real terms having a contingency plan proves to be very effective in the case of emergency. When you are initiating a new business set-up, you are taking a certain amount of risk; hence, it becomes important to plan, keeping in mind the possible results ensuring confidence in your entire journey and also the success.
Your alternative plan doesn’t have to be completely a substitute of your original plan which you will follow in case of failure; instead, it should be a blend of small steps to overcome the hurdles coming in ways of your success. This will ensure that even if you are not able to completely implement the first plan, you can go for alternatives wherever required.
Consider the worth of indecisiveness
Thinking and imagining what would have happened if you didn’t work hard for achieving your goals can be a strong motivating factor. The thought can be scary presently and in the future and this thought will be acting as a motivational tool to strive for a better performance in your business.
Take support from around
Doing things alone might be difficult and possibilities of getting stuck increases. If you don’t have a proper support system, the uncertainty, unsolved queries and fear of losing can be devastating. Assure that there is a proper support system beside you to help when you are stuck. The support can be from a mentor, business partner, friend, teacher or spouse. Your support system will act as a catalyst and enhance your confidence at each level. This will also help in reducing the fear of failure because you will never be alone in case of any problems.
At last, I would want to say that fear is not something negative; the only thing matters here is how you handle it. It all depends on how you take that fear, negatively or positively. Taking it negatively might lead to a downfall and reduce the chances of success, but if you take it positively, it will make you work harder, do more preparations and enjoy the success completely. If you are able to overcome the fear of failure, your chances of success will increase.