It’s only human to err, and to fear. But fear has longstanding, shattering consequences in the lives of some more than others. Fear demolishes confidence. Fear impairs big dreams. Fear leads to further fear which leads to some more. Entrepreneurs are one particular race of people who are known for their daring, risk taking nature and eccentricity. They have nothing to fear but fear itself!
Let’s reiterate the most raved about characteristics of an entrepreneur. An entrepreneur is known to be a confident individual. He is remembered as a level headed leader who has quite a bit of social influence and can induce new thoughts in the mass. He has to be an able planner to materialize all his big plans. Entrepreneurs have to be keen observers of society and find opportunities in nooks and crevices of situations. They are thoroughly innovative because entrepreneurship is all about that! To create the right impact, they have a positive self image which gets well caught on by people around him. Armed with a strong persona and competitive nature, he is willing to take risks because of his belief in his passion.
Element of Risk & Adventure
It’s ever so adrenaline inducing to take on an adventure. Entrepreneurs are addicted to that thrill. They wake up to new adventures very often and that keeps their spirit alive. We have to understand that they have concepts and ideas which are above ordinary and thus require a certain amount of risk. In this context, risk could be taking on a large loan to build a startup; risk could be running a company being a one man army; risk could be competing against a larger company on the basis of merit of idea. They can be both tangible and intangible. Risk could be mortgaging your family home for your dream. But without the ability to deal with a situation head on, he wouldn’t be proactive enough to be an entrepreneur.
Risk has both thrill and success associated with it. Go ahead with it and it may lead to something big. And suddenly it will all seem worth it.
When Fear Kicks In
There is a difference between inhibitions and fear. Entrepreneurs have neither. They understand objectivity. The only abstraction they believe in is success. When one is strong witted, willed and clear about the mission, he becomes unstoppable. But there are times when everybody experiences a minute of indecisiveness which is caused by a fear, “What if things do not go according to plan?”. This is not a statement made out of being unsure about oneself but that made out of fear. No one will admit experiences this fear
Fear is one of the few things (there really aren’t many!) which act as a road-blocker for these big dreamers. One fear that lurks on his mind when he is absolutely just starting out is the “lemonade-stand fear”. This is a condition when his business feels too small while he operates as a one-man army. This leads to diffidence which multiplies over the hour and mainly he thinks “This is going to Fail.” An underlying observation is that while he gets to be his own master, he is somewhat unnerved because there’s no one to give him instructions about what to do next! He has to overcome this and understand he has to write the rulebook himself and live his big idea.
Here’s a fear that will sound odd, but it does exist according to a poll taken on entrepreneurs. They fear their startup will take over their lives! (and that’s usually what happens). The well pronounced neglect towards their near and dear just upsets them, when they realize it.
The fear of being unable to acquire enough funds for their dreams is the most prominent according to the poll. Considering the current world economy, it is highly possible that many entrepreneurs have been sucked into this fear; of never being to kick off; of staying stagnant or a feeling of fund-less-ness.
Overcome Fear to Achieve
The challenges of this field are not new. Even those who are not entrepreneurs have the opportunity to read extensively about the struggles and hard times. So we can infer that entrepreneurs are not in a position to fear!
Yes, that’s right. They cannot succumb to apprehensions because once they start, they will wholly and fully be sucked into the black hole after which they can never take a risk again. If they lose their risk-taking ability, not much is left to them. The greats have not floated into a position of worldwide authority and fame in a day by being afraid of the consequences of their actions.
Thinking twice is wisdom but thinking more than that is a sign of cowardice implying an internal terror of failure. If you’re working towards being an entrepreneur, you must let go of fear itself. Fear in itself is a vicious cycle with few ways out. Jitters and panic are more the weak can lead directly into a Catch-22, lose-lose situation. Go ahead and live your big idea today!