Fear of failure lurks in the thoughts of the entrepreneur, from not having the right people, running out of money and getting hit with the unexpected. For entrepreneurs, measurements to weigh the risks against the probabilities to succeed can not only create courage, but lower the Fear meter in spite of the grind of responsibilities.
- Fear can motivate as opposed to simply stopping people from being entrepreneurial. Fear of failure can also motivate greater striving for success. Fear also cripples and hold people back from their business ideas, branding and selling.
- It is vital to make a list of the Fears and potential setbacks and solutions. The more solutions the less fear, the less risk, and the measurements will be your goals not your worries. In contrast, when entrepreneurs worry about the potential of their idea or their personal ability to develop a successful venture, they tended to be affected more negatively and become less proactive. So, you are talking about it and not doing it.
- Numbers are often crunched with worry, resulting in immobility and emotional reactions as opposed to logic. Decision making is slowed down as all possible information is sought and the worry of making the wrong decisions becomes the norm.Example of Fear Measurements:
- financial security daily measurement: Save and plan for the worst outcome. Another words, save for rainy days to pay all overhead in case a temporary loss of revenue takes place. The more you save the less Fear you will have.
- Personal ability/self-esteem: The more you pursue a heathy lifestyle physically the more confidence you will have.
- Potential of products and services: Let your audience/customers tell you the benefits of what you offer. The more confident you will be to sell your product or service as a measuring stick.
- Threats to personal and professional esteem: Competition, drama, and hiring people that are not experienced for the job can be debilitating. Due diligence and investigation is paramount. Never expect someone has initiation or the ability to covert. Inspect what you expect.
A companies ability to execute decisions are practiced and should be measured with outcomes and dates to compare and contrast with expectations. Fear has the effect of undermining business goal setting unless you measure and utilize mathematics, logic, and emotions.