How To Overcome Fear As An Entrepreneur

11 April 2011 Thoughts


jack_skydiving.jpg

Two weeks ago, I met with two friends who were my previous business partners. About three years ago, we worked on a project that would provide a web solution for the interior design and architecture industry. The project eventually did not work out and we went our separate ways. I stayed on the entrepreneurial path. One went to grad school. The other went back to the corporate world.

(The picture isn’t of some random guy sky-diving. That’s actually me jumping out of a plane at 13,000 feet.)

Once An Entrepreneur, Always One

When we met up again, both of them made the announcement that they will be quitting their jobs and going entrepreneurial full-time. Pretty cool, except one was scared to death about going this route.

What’s There To Be Afraid Of

This friend was all set. He was in an area where his skills were always in demand. He could get a new job the next day if he wanted to. His wife was making a good salary, enough to support the both of them. Hell, it was his wife who pushed him to quit! So what is there to be afraid of? And more importantly, how do you overcome the fear?

His response? That he never done this before. (Hint: neither have 100% of us who become entrepreneurs.) So, it basically comes down to the fear of the unknown. I’m sure these questions are going through his head right now, because I been there:

  • How will I support myself?
  • Am I wasting my time where I could be earning at a job?
  • What the heck will I do with my life?
  • What if I fail?
  • What if I succeed?

There isn’t an answer that will help someone feel better about those questions, because you just don’t know. The best way to deal with it (as I found) is to have an optimistic outlook on things and be confident to go with the flow.

Let’s Get Rid Of That Fear

Ok, I got the best set of exercises for you to get rid of fear itself. Some things are outrageous and will outright scare some people off.

  • Go skydiving- that will remove all fears (especially if you had a fear of heights like I did)
  • Go to a 3rd world country to volunteer (and I mean 3rd world where the average salary is $10/month). Find the poorest country in your area and go there! See how people survive there and you’ll come back with a new optimistic view on life.
  • Live a week below half your means now. This will loosen the grip money has on your life.

My Friend’s Plan

I actually did recommend he do those three things, not necessarily in that order. I told him how my experience in Nepal radically accelerated my decision to become an entrepreneur. He will be going to Guatemala to volunteer with Habitat for Humanity building homes. I expect when he comes back, he may be at his current job for about a month before he decides to leave. 90% of would be entrepreneurs never take this step.

Will you be just a statistic?

Go Further

In Tim Ferr’s book, The 4-Hour Work Week, he puts there “comfort challenges” at the end of each chapter. As an entrepreneur, he understands what really keeps people from making the big leap- it’s not skills or knowledge, it’s uncomfortableness. So he devised everyday challenges you can do to be comfortable in as many uncomfortable situations as possible. They range from going to a mall to ask for numbers from strangers to having a day of “no” at work. So for people who can’t go skydiving or go to a third-world country, these comfort challenges are great. Give it a look.

Created By:

Chief Community Officer at TeenBusinessForum. I believe that successful and ethical entrepreneurs make the world a better place. To make that a reality, I help empower teen entrepreneurs that will be the next generation of business leaders.

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