23 Jul Do you fear failure?
DO YOU FEAR FAILURE?
The fear of failure is probably one of the most common emotions experienced by young entrepreneurs, some of which has to do with a negative mindset infused with self-doubt and uncertainty. Failure is also symptomatic of a reluctance to try new things and/or embarking on new business projects… which also leads to self-sabotage and anxiety. Despite its negative connotations, failure is not a particularly bad thing, as it provokes valuable insights capable of adding value to one’s entrepreneurial pot.
There are many international icons who have experienced failure before basking in the sunshine of success. Michael Jordan is widely considered to be one of the world’s basketball greats, yet he was cut from his high school basketball team because his coach thought he did not have enough skills. Warren Buffet, one of the world’s richest and most successful businessmen, was rejected by Harvard University, and Richard Branson, owner of Virgin empire is a high-school drop-out.
Jumping into the entrepreneurial ring is indeed scary, but once the idea is accompanied with determination, commitment and passion you WIN! In spite of their ages or even levels of experience, most entrepreneurs can tell their fear stories that actually propelled them towards overcoming FEAR.
Can it be overcome…..of course, it can.
Start by setting attainable goals and ignore your inner perfectionist; focus on the passion and grit that influenced you to start your entrepreneurial journey; throw away the idea that there’s a perfect work-life balance as entrepreneurship is about shifting to a 24/7 clock.
Failure is indeed part of becoming successful and instead of focusing on the negative aspect of it, pull out the important lessons that can push you up the entrepreneurial ladder!
Co-Founder of Market Movers, Rachel Renie shares her thoughts and experience on the fear of failure.
“You must become an expert in your field of business and that comes from trial and error over and over again; documenting each time what works and what doesn’t, and doing more of what works.”
“My biggest fear in choosing entrepreneurship was a return on investments. In my experience, I have personally seen where choosing the wrong location caused businesses to fail and causing persons to abandon entrepreneurship and get a job. This was my fear in going into entrepreneurship whether or not I would make back the capital that would be put out.”
You’ve heard their stories…
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