Deciding to start your own business brings equal parts excitement and anxiety, you've been nursing this great idea and now plan to venture into it as your career path or business making you very ambitious, but you also have the fear of uncertainties flooding your mind, like, .what if nobody patronizes me, will funding this dream leave me broke? Do I actually have what it takes? Can I handle potential failures? Etc
I've felt and still feel this way as I'm still in the process of making my dream business and ideas a reality not because it's wrong but because it's totally normal. A lot of us have had this fear take over that amazing business plan and give up on making it a reality, It's completely normal to feel simultaneous excitement and fear when you decide to become an entrepreneur, no doubt starting a business requires one to bravely balance vision with practicality, passion with planning. In this post,
I will be highlighting some common startup fears, also how we can create contingency strategies and also focus on delivering value, which is the main goal to keep our business thriving amidst these fears.
Image edited using canva
When facing the unknown, our minds often create worst-case scenarios on repeat, sometimes overpowering the positive outcome that may arise, but do you know that the best way to overcome fears is by facing it squarely, rationally thinking, and putting into action ways to overcome to fears, I've repeatedly told my story hereon hive on how I ventured into fashion designing after out of curiosity and It eventually turning to a passion, the next step I knew to take was turning it to an actual business which If a course required resources, more practical, and the main parts clients/consumer to fulfill the purpose the business was created for, some of the fears I had which I know is common to most entrepreneurs were:
Losing Money
Sourcing for capital is one most important aspects of starting a business for all entrepreneurs so it's natural we feel sceptical about losing these funds if all doesn't go as planned, after all, our goal is to make profit, not Loss. From several readings, I learned thst 65% of startups break even within the first year, and profitability often swiftly follows with consistency and quality. But one has to be careful and make proper budgeting so you can likely avoid dire money loss.
Disappointing People
I also had the fear of letting down friends and loved ones who believed in me and would likely support me, this is also a pressure that could make you want to give up, but know that they should understand that success is not built overnight,
Make sure to keep communication open about realistic timelines, income fluctuations, and growth stages so supporters understand this journey may have some dips before it peaks.
Failing Spectacularly
As a fashion designer, every project calls for unique expertise, and sewing rules, trends and styles evolve every day, so there is always a fear of being given a difficult task to work on, or spoiling it at worst case But missteps and course corrections are par for the entrepreneurship course, to prevent this, I make sure to keep on practicing, do more research about latest trends and styles to help me be at least. so as entrepreneurs, it is essential to build resiliency by researching common pitfalls and expecting obstacles.
Wasting Time and Energy
After investing intensely, it's devastating to think about the project flopping. But even in worst-case scenarios, launching your own venture builds priceless skills, as no knowledge is a waste, from financial literacy to marketing, time management, and inner resilience. It's never truly a waste, even if outcomes differ from goals.
Delivering Value Above All
Ultimately no business can succeed by focusing solely on profits, you have to give out value as well, that is what attracts and keeps your client, also fulfilling the purpose of your establishment, focus more on dedicating yourself to providing outstanding value, as this is the direct path to overcoming worries or fear, having a purpose for your business is what distinguishes you and also bring the required payout value that getting worried, Obsessing over the value you provide makes earnings feel less pressing because passion takes over, just make sure to stay committed.
The world needs people impassioned enough about their solutions and values to endure every turbulence the startup business brings. Though the ride can be rough, doubts may occasionally still creep in. But fuel yourself with purpose, brace for pitstops, and trust that winds carrying you towards meaningful work are worth weathering.
One day while recounting the origin tales behind your thriving business, you will feel proud of yourself telling the stories of how you overcame the fear of uncertainty from those early days and confident enough to face bigger challenges. May you inspire future founders to take that first leap and let their vision lift them higher than their fear ever could have dragged them down.