Small Business Owner FEAR

Small Businesses Often Fail Because of FEAR

What is FEAR? – as defined by Google

  • noun – an unpleasant emotion caused by the belief that someone or something is dangerous, likely to cause pain, or a threat.
  • verb – be afraid of (someone or something) as likely to be dangerous, painful, or threatening.
Fear is that human emotion that can, at times, be motivating, or a way for us to protect ourselves from danger or pain.

I look at FEAR and use a different definition.  FEAR = False Expectations Appearing Real.

 

FEAR is Just Part Of An Entrepreneurs Daily Routine

Although there are many emotions experienced by the entrepreneur, over the past 30 years, I’ve found FEAR to be most common.  While in ‘start-up’ mode, the fear is FEAR of FAILURE, or they have nothing to loose.  For many, can be motivating and can create the energy and drive to make the decisions to overcome major obstacles.  Many new business owners use FEAR to motivate their actions and push through their FEAR to build their business.
Over time, they grow their sales and profits, increase personal income, add to their client base, add employees and, at some point, they become comfortable.  It is this comfort zone that is the pool that allows a different type of FEAR to grow.
In business, decisions must be made.  They may not always be the perfect decisions, but taking no action often creates more problems than making an imperfect decision.
  • clients will leave
  • price increase will kill their business
  • they can’t find qualified employees
  • employees will be unhappy,
  • the economy will change,
  • and on, and on, and on.
FEAR can surface in all aspects of their business.  FEAR keeps them stationary, boxes them in, and with leaves them with limited options.

What To Do About This?

One of the roles a business coach plays for their clients is to help them understand when FEAR is unrealistic and that it may be the single barrier to helping them be successful. If we, as coaches, can help our client take the emotion out of the situation, evaluate the options and explore the potential results, in almost all cases, the things feared the most are not realistic, probable or even feasible.
With this being true, then our FEAR becomes and indicator of something new and exciting.
Recognizing our FEAR can be a great opportunity to innovate, change outside the norm, and grow our business.  With reasonable insights and planning, this is what a business is supposed to do. Using FEAR to help us see that opportunities are ahead and that something needs to change.
Successful business owners have the emotional control to feel their FEAR, but not be controlled by it.  They realize that FEAR can be an indicator of future growth potential and that it is often the pre-cursor to change.   And, nothing improves without change.
If business owners can recognize their FEAR and learn from it, this emotion can help them through the challenge and grow their business.
If you would like learn more about how you can leverage your FEAR to grow your business, call Coach Michael Stelter at Advanced Business Coaching, Inc. (262) 293.3166.
“I must not fear.  Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”― Frank HerbertDune