5 Ways To Overcome Your Fears When Starting A New Business

It’s easy to compare starting a business like moving into a new home. You truly don’t realize how much goes into it until you’re there. Suddenly it’s overwhelming, and you’re walking on eggshells hoping you’re not making any mistakes.  But the truth is, mistakes are how we learn, and accepting them is your first step to embracing the new business adventure you’re on. It’s intimidating and scary, but when has trying new things ever been easy? Here’s a comprehensive breakdown of common thoughts you’ll have when starting a business, and steps you can take to overcome them.

overcoming business fears

  1. “This is unpredictable, and I don’t know if I can handle the instability and insecurity.” Well, you’re not wrong. Of course working a normal 8:00am-5:00pm is going to have financial and mental stability and security. But this is a risk you have to be willing to take short term, for a better result in the long term. This is your chance to get out of your comfort zone, and be the leader you want to be. So roll with the punches; it’s only temporary.
  2. “I have a fear of the unknown.” This is genuinely the root of why all decision making is incredibly hard, whether it’s choosing between two cars or two different sandwiches at the deli. It’s fear of missing out. We always want what we can’t have, and the grass will always be greener on the other side. So ask yourself this; is the potential outcome you’re hoping for worth the risk? Or would you rather be complacent, and regret the decision later? If things don’t work out, remember; it’s not the end of the world. You will find your way.
  3. “Maybe right now isn’t the right time.” Let’s put this into a scenario. Say you’re dating someone, but things aren’t going well, and you don’t know how to break it to them. So you tell yourself “I’ll wait until after that concert we go to next week. Or “his birthday is in a month; I’ll wait until after that.” Truth is, there’s rarely a perfect time for everything. You just have to go for it.
  4. “I don’t even know where to start.” While everyone hopes there’s an answer to this, sad news is there isn’t. The best tip out there is to find someone that’s achieved the goal you’re working towards, and ask for their advice. If you’re just starting photography and have no idea where to begin, network! Try to get as much information as you can. It will provide a clearer outline and give you some piece of mind.
  5. “What if I run out of money?” Wouldn’t it be nice if money grew on trees? Only in a perfect world. In most cases our finances are tight, and the biggest risk starting a new business if the financial repercussions. If you’re worried about your personal investment loss, consider crowd funding or seeking business grants from the government. It’s a process, but if you have enough faith in yourself and your ideas; it will all work out the way it should.

What fears did you have while starting your small business, and how did you overcome them? Share your thoughts!

Turning Your Competition Into Inspiration

It’s all too easy to get intimidated, especially when your industry seems over saturated. It’s even discouraging at times, as we’re constantly trying to find new ways to stand out and creating something bigger and better than everyone else. But don’t let it get you down! Learning more about your competition and embracing the competitive nature can get you a few steps ahead if you do it right. Here are a few key insights to help turn your competition into your inspiration.

competition as inspiration

  1. Everyone is different. Think about it; Facebook wouldn’t be Facebook without Mark Zuckerberg would it? And Vogue wouldn’t be Vogue without Anna Wintour. While brands can take each others concepts and even their products, they’ll never have you, and your specific insight and talent. You will have a unique vision and mission that no one else will. And if you make that clear, your customers will come naturally.
  2. Make your vision clear. While people can steal your products and concepts, their reason behind it isn’t always the same. So show your authenticity; focus heavily on your branding, and the consumers you’re trying to connect with. To put it simply, copying someone else and not having a genuine reason behind it looks sketchy, and might have your audience questioning your motives. How can you take the same concept, but put your own unique twist on it in a way that your audience understands?
  3. Focus on yourself. It’s easy to get caught up in the competition. But constantly worrying about what someone else is up to will get you nowhere. It’s distracting, overwhelming and quite frankly; disheartening at times. So ask yourself some questions. What if your only competition was your own company? And how about instead of putting your competitor down, you were their cheerleader? Success is measured by trying to outperform yourself from yesterday. Trying to find ways to constantly improve and think outside the box will only bring you success.
  4. Uncover their flaws. Like all humans, not every company is perfect. So while you shouldn’t spend too much time focusing on it, do some analyzing on various aspects of their business; whether it’s a blog post or a television commercial. If that had been you, what would you have done differently? When looking at our competition, it’s a lot easier to acknowledge what they’re doing right, and not what they’re doing wrong. It’s all about perspective.
  5. Befriend them. In almost every industry, there’s a stigma that competition = enemies. Yes you’re trying to compete, but why can’t it be in good faith? Businesses do well by connecting with other businesses, and there’s so much you can learn from each other. You’d be surprised at how many companies are actually willing to help out one another. So be friendly! Put yourself out there and take some risks. What do you have to lose?

How have you turned your competition into inspiration? Share your tips and tricks with us!