"Too many of us are not living our dreams because we are living our fears." -- Les Brown
Opening up a small business can be a whirlwind of emotions and the entire process can become intoxicating. Between writing a business plan, getting the essentials ready, opening up shop and maintaining a business, it seems as though there is no time to truly think. Unfortunately, there actually is and a lot of times small businesses owners become fearful in their business. I wanted to go over the biggest fears small business owners think about and also why these fears should be acknowledged, but not to let them overtake the possibility of success.
The Fear of Working Alone
Although some may argue that many go into small business because they want to work alone, it is also true that many fear working alone as well. It is not the loneliness they fear, but the idea of being the employer, employee, accountant, etc. and everything falling on them. This is why many times it is best to see if small business is a great fit for you prior to opening up because if you cannot handle everything involved in small business, then you might want to consider having a partner or going back to your business plan and re-doing it with employees in mind.
The Fear of Money
Money is a fear whether you are a small business owner or anyone else in the workforce because it is a major issue in the present economy. For small business owners though, it becomes a greater fear as your income is determined by your success. If you cannot foot the bills or cannot turn a profit then you aren't making any income. Luckily, this again goes back to how much you should save prior to opening up and being proactive with a business plan. It is wise to have a savings plan in case your business does not turn a profit right away--and many do not but later succeed. Having this back-up money will allow you to focus on the businesses growth and not worry so much about the funding.
The Fear of Failure
Nobody wants to fail, it's just human nature. Unfortunately, that fear in itself has completely scared potential small business owners away from even opening their doors--as they believe they will not succeed. The saying of "you have to be in it to win it" is also true in small business because you cannot succeed or fail if you do not open your doors. Technically, if you want to throw some tough love into the mix, not opening simply due to fear is a failure in terms of your self growth because sometimes failure hurts, but you can either look at failure is negative and completely fall apart, or just failure as a springboard to a later success and continue on.
These are the three biggest fears among small business owners, but they should only be acknowledged and used as ways to bring success into your business. Fearful of money? Maybe this is an opportunity for you to learn how to properly budget and save. Fearful of working alone? This could be an opportunity to truly learn the ability to be independent and work through problems on your own. Fearful of failure? This may be the opportunity to grow as a person an allow yourself to feel negative feelings, but turn them into positive outcomes. No one likes to feel discomfort, but sometimes its during times of challenge that positive results come to fruition.
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Socially Dedicated, a Philadelphia-based firm, provides marketing, content creation, public relations, business management consulting and social media management to small businesses. Check out our website or locate us on social media using the icons below.