How can you overcome the fear of starting a new business?

Starting a new business can seem daunting. With the right tools and mindset, anyone can start their own business – how can you overcome your fears, though?

May 13, 2022
How can you overcome the fear of starting a new business?

The idea of running and managing your own business is, for many people, an enticing prospect. Yet the actual process involved in starting up a business can be, for some, highly confusing. It can also be daunting to take that leap of faith. Starting a business means often investing time, money, and effort into something that might not work out. It means likely having no income, only expenses, until your business is operational and progressing.

However, nothing in life worth owning is going to be easy. Nobody has started a business and had profits within their first afternoon. You need to accept that if you want to be your own boss, if you want to run your own business, you have to be wiling to commit. Yet if you have a passion, a skill, an expertise, and/or something to share with people, you could easily start your own business today.

Today, among the most common forms of business are membership businesses. If you start a business based around the concept of having subscribing members, you can build a client list that always comes back. In many ways, the start-up costs and the potential risk in a membership business is much smaller than it would be with other business models.

The fear that you feel, though, is entirely rational. The pros and cons of starting up a business are something that we could go through in our minds for eternity.

Overcome your fear of a business start-up

It is common to feel trepidation about starting your own business. Running a business is not easy. It takes time. Crucially, it also takes an acceptance that you might fail. You might run into problems. You might make a loss. However, every business owner in the world goes through those same fears and worries!

The main thing to think about before you start a business is the structure. Planning and preparation allows for you to work out each step before you start walking the path of business ownership. For example, let us say that you are going to form that membership business. How are you going to communicate with your customers? How do you make sure that you keep on top of invoices, payments, subscriptions, and delivery of your services/goods?

Easy – you find a tool that allows you to manage memberships. This is your first path to progress. Let's say that your new business is going to provide people with deals and great savings in a very expensive industry. You could use a membership-friendly communication platform, such as Telegram, to manage your client list.  Telegram is an outstanding tool for membership-based businesses, and you can find more about it here.

Your main role when building a business is to focus on having a tool, or tools, which make your day-to-day life easier. Telegram, when powered with a membership bot, could be a wonderful tool for managing your business, contacting clients, and delivering what you provide.

You have something to offer – why not try it out?

If you want to be your own boss, if you want to run your own business, you must have something you know you can offer. It could be something that you sell, something that you offer, or an insight you can provide. You could do everything from providing excellent information, useful content, great deals, or even running something like a subscription box service where you deliver weekly/monthly parcels.

Yes, running a business would likely need more than just a Telegram account. You would also need a way to showcase your business, to market your services/products, and also have a way to introduce your offerings to a wider audience. However, the main problem for many comes from client acquisition and client retention.

By going down the model of using a membership or subscription business, you have a client list that comes back for more. You can then focus on appeasing that membership list, of giving them good value for money, and allowing your current userbase to recommend your company to others thus delivering organic growth.

The main challenge that many people who wish to own a business face is convincing themselves they have something to offer. Whether you are packaging useful products into one, you are selling a service, or you have expertise to offer in one form or another, you can run a business.

The fear of failure can drive us to analysis paralysis.If you like the idea of running your own business, the only thing that you can do is try. The worst that can happen is that you might fail. Yet if you never try, you will never know if you could succeed or not. Running your own business is exhilarating; with a bit of preparation beforehand, and the use of the right tools, progress and profitability is possible.