By Coach Sonja Shear
Most business owners start their businesses for the same reason. They have a passion for something they want to do, which drives them to come up with an idea and take action. This passion is powerful. It gets the owner to take risks that many others would not dare take. They leave a secure job to start up their own business.
At the start, this passion helps them overcome obstacles and motivates them to work long hours to succeed. However, as time goes by, the business owner starts losing some of that passion.
They will tell you that they get up every day and work their backsides off, trying harder than anyone else, and they are exhausted and often unfulfilled at the end of the day. The business owner now loses the passion that ignited them to start the business in the first place.
They stop loving their business and wonder why they work so hard and still can’t get the financial results and business growth they want. They now start considering if they should go back to their old jobs.
Are entrepreneurs just delusional? If what you’re doing feels like a struggle, is that how it should always feel? Based on real-world research and case studies from groups of successful entrepreneurs, entrepreneurs driven by fear debunk the idea that success and happiness go hand in hand.
Do you want to know why so many entrepreneurs, people that are usually fearless in life, are driven by fear when they start their own business? They are not driven by a focused desire to succeed and make a lot of money. They want the safety of a regular salary but the freedom of their own business. Because most of us seek security in our lives, unfortunately, we do the same when we go into business. We miss out on opportunities by being scared off and focusing on failures instead of looking at what the potential rewards could be if something is successful.
The fear of failure drives many entrepreneurs. It keeps them up at night, causing them to second-guess every decision and spread themselves too thin on multiple fronts. But the truth is, entrepreneurs who are driven by a fear of failure are not focusing on what should be their focus: the success that could result from their business ventures.
Entrepreneurs driven by fear of their failing businesses will often make poor business decisions, burn through cash and ultimately fail in two years. Others who are operating under the fear of putting in the effort and facing rejection with new ventures fail to stay focused on what matters most to them, also leading to failure.
Imagine being held back and missing out on many opportunities and successes because of your fears. Success doesn’t happen overnight, and it doesn’t come easy. The more you know about a successful business and how to start one, the more likely you will succeed.
So what if you could turn the tables? What if there was a way to make your business more successful than ever? What if your business wasn’t driven by fear but by focus and rewarded for its successes?
The moment you take the stance that your business will succeed, you start creating opportunities for yourself. You no longer think about failures but look at what rewards are possible when something does happen. We become more stable and secure when we accept that there are no guarantees in life and instead seek opportunities.
Creating a vision for your business and planning your business success is crucial if you want it to succeed over the long term, but it may be hard for some entrepreneurs to take a step back and have a big-picture view.
Entrepreneurs driven by fear will get caught up in the day-to-day running of their business rather than developing plans for long-term profitability or other goals. Recognising this difficulty can help you become more aware of your behaviour and drive you towards planning and creating a vision for where you want your business to go.
It is important to remember that business development is a process, not an event. One cannot expect complete success after a single attempt at launching a company. We are all afraid at the beginning. It is perfectly normal to be frightened by failure and uncertainty. But many entrepreneurs, driven primarily by fear and worry, jeopardise their business by behaving irrationally.
Just think about it, why do entrepreneurs spend over 70 percent of their time working in their business versus on their business? They are driven by fear, and as a result, they cannot turn their ideas into reality because the fear of the unknown paralyses them. You can eliminate the risk of failure and drastically increase your chances of success. If you switch to focus, set goals for the short and long term, and then develop a plan to achieve these goals. When things go off track, get back on track and do not give in to fear.
It all starts with you, the entrepreneur and visionary behind a new venture. Learn how to produce more than expected by working smarter, taking calculated risks, knowing your strengths and using others to assist you in doing what you can’t.
With a vision in place for your business, you will be driven by a focus, not by fear of failure. Focus gives you the confidence to know that you are on the right path, that your product or service will deliver value to your customer and that you have so much more to offer than your competition. Imagine running a business with a solid foundation of independence, accountability and financial security. That is the difference an inspired vision makes.
A business start-up can be very rewarding. There are many reasons to start your own business, everything from control over the work environment to managing your time. No matter what your business entails, you have to focus on success and not lose sight of your end goals and dreams.
If you need assistance guiding you on the path to your business and personal success, reach out to me today.
Sonja Shear is a seasoned business leader and executive coach. Sonja has pioneered business growth in the companies she’s worked with, both local and international organisations. Her level of experience spans every business area – from operations and sales to marketing and finance.