Wondering how to overcome the fear of starting your own business in 2021? Starting your own business is no child’s play but you can find a headway as long as you overcome the fear and anxiety to start.

One thing you need to know is that it’s totally okay and normal to experience fear of running your own business. Most entrepreneurs might not talk about but it’s real. 

Also Read: 6 Beneficial Tips To Help You Start Your Business As An Introvert

As an entrepreneur, the pressure to succeed is not only because of your investors and partners but also because you’re trying to prove to yourself and other people around you that your idea is worth trying.

We know that feeling…

However, overcoming these fears is paramount to making your idea materialize into a successful business, especially in a year where it looks like the pandemic has messed up small businesses.

The question on your mind as you read this is how do you overcome the fear of starting your own business.

How To Overcome The Fear Of Starting Your Own Business In 2021

We have carefully researched and put together a few ways to help you overcome the fears of starting your business. These ways are practical and have been proven to work.

Below are the five practical ways of starting your own business in 2021.

1. Get adequate knowledge

There’s a saying that says, “knowledge is power”. This is so true when it comes to starting your own business.

Getting adequate knowledge about the business you’re about to get into is one of the best ways to overcome the fear of starting your own business.

Conducting in-depth research about the industry you’re getting into, your competitions, target audience and more will make starting the business less intimidating.

Get armed with adequate and relevant information to build your confidence and lower your fears.

You can equip yourself with relevant information by;

• visiting website that provides detailed information about the business,
• reading industry-related books that will give you insight,
• connecting with an industry giant to mentor in the field you’re about to get into,
• Speaking other entrepreneurs, especially in the same industry.

Also Read: 5 Important Business Skills Every Entrepreneur Should Know In 2020

2. Set attainable goals

Another proven way to overcome the fear of starting your own business is by setting attainable and relatable goals.

Entrepreneurship is a journey that involves a lot of challenges, but your goals will keep you going. You need to be careful with the way you set your goals.

They shouldn’t be too high, especially for a new business, neither should they be too low so you can work outside your comfort zone.

You can start by identifying what you would like to make your company mission. With this mission, you can build relatable goals that will serve as stepping stones to reaching that mission.

Create strategies to meet each of the goals. They can be weekly, monthly, quarterly or yearly.

3. Know your ‘whys’

It’s important to settle the reason you want to start that particular business within. So, you need to ask yourself a very valid question, which is; “Why do I want to start this business?”.

Once you’re able to answer this question, it would fuel your courage to start your business. Identifying your objectives, goals and why you want to start that particular business, overcoming fear becomes easy.

It would also keep you going at every point in your business.

4. Start as a side business

It’s advisable to ease into being an entrepreneur by starting as a side business. So, if you’re afraid of losing monthly income, then you can start the business while you maintain your full-time job.

The idea of starting your own business becomes less daunting when you start it on the side. When the business grows really big, then you can go in full-time.

5. Surround yourself with the right people

Surrounding yourself with people of like passion when it comes to your business will go a long way to help you build the courage to start your business.

You can build or join a community of investors, entrepreneurs, partners and in your industry or in other ones.

It’s known that by identifying people who are excited about your work, your support system will solidify quickly.

Also Read: See 50 Businesses You Can Start With 50,000 Naira, No. 48 Will Surprise You

The practical tips provided above will help you overcome the fear of starting your own business. All you need to do is follow and apply them.

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