Is Fear Your Reason for Not Starting Your Business?

In our previous post, we discussed briefly, few reasons why you need not delay anymore in starting that business

that you have been thinking about all these months or maybe years! You see, at some point in my life, I used to work in a commercial bank, and as a young officer, I had this young boss, a chartered accountant, who used to be very angry each time I applied to go for my annual vacation. For me, this was my time to literally fly, to explore the pleasures of freedom at least for the few weeks I was entitled too. However, my boss gave me no space; whenever he could, he would block the approval for my vacation! At some point I got curious and I daresay angry, I decided to confront him in one of those occasions ;”Sir, I asked, why don’t you always want me to go on MY leave, to enjoy my freedom and time after having worked so hard for one full year!” He was writing some stuff (I don’t know what) but he calmly lifted his eyes from his work, looked at my angry face and smiled.

Then he asked me to sit down which I did! He then asked me a simple but very profound question: “Mike, you are so young and not yet married, what do you usually use your annual vacation for? Are you going to write a professional exam with it or do you want to start a business with it Or you just want to waste it on useless so-called pleasure? I said “No but Sir, I have been PLANNING about my education, how and when I will write the exams! He looked at me again and said “listen young man, ONE MILLION PLANS DO NOT MAKE ONE ACTION”! ! Take action now to better your career and your life and stop PLANNING TO, every year!” That truth hit me like a thunderbolt! Unfortunately, most of us are like that: We Plan and keep planning to START SOMETHING (BUSINESS) SOMEDAY but never ever get to take one action to actualize our plan of becoming business owners!

So again I ask you, why haven’t you started that business? What’s holding you back? Why are you still on Ground Zero after so many years of conceiving that wonderful idea? And for some of you, ever since you conceived that idea, no one has created, developed or established anything close to that idea or concept you have in your belly which is an eloquent testimony that that business is yours alone to start? Over the years as business consultants, we at Steepelglobal have interviewed a number of would-be entrepreneurs and business owners. Whenever we ask the question “Why haven’t you started? Why are you still procrastinating? The usual answer revolves around three major factors:
2.Ignorance as to What Business to Start given available resources(usually money and people)
3. Poor Economy

The fact is FEAR in business is real, you need to master it through knowledge and boldness to be able to use it to your advantage. Ignorance of what line of business to step into and poor economy also are real! I mean these are real factors that every entrepreneur needs to master to gain from. The good news however, is that you do not need to reinvent the wheel! You do not need to know everything totally and comprehensively before you make a move! You can outsource the unknown and even known risk aspects of that business to a consultant and be sure to start your business on a sound footing and less worries about risks and losses.

Someone once said that F.E.A.R means False Evidences Appearing Real! We at SteepleGlobal totally agree with this fellow. Does this therefore mean that fear is unreal? No! Does it mean an entrepreneur shouldn’t worry about fear? No! What it means however, is that you must recognize the presence and reality of fear as a risk factor in your business and take necessary steps to address and mitigate its impact on! To do this, you need to carefully and critically analyze the content of what makes you afraid of starting that business and note how you can and will reduce or eliminate those factors! You can do this by yourself if you have the time, resources and capacity to handle it or you can give it out(outsource) to a business consultant who will employ expert knowledge and painstaking diligence to deliver your expectations.

Fear in business has many parts according to would be entrepreneurs and even existing business owners who are seeking to expand their operations! During a recent pre-engagement interview with a prospective client, the client stated “ I am afraid of many things especially how to engage skilled, honest and trustworthy staff since am doing the business part-time!” Others are afraid of competition, the poor economy, their own capacity to manage the complexities of a large and suddenly expanding business. Very many are afraid of insider perpetrated ills and all that and many are afraid, just afraid, of what they can’t explain; that is, fear that is based on nothing, except fear itself!

So, What are You Afraid of ??? Let’s talk!
Visit our Facebook Page Steeple Global Services or our Twitter handle @steepleglobal and let’s discuss your fears and see how we can help you overcome it and begin your journey towards financial freedom!

Steeple Global Services is a business consulting firm based in Uyo, Akwa Ibom State,South-South Nigeria. We help to bring your business idea into reality, set up new businesses and also help to turn around ailing or struggling businesses into profit making ventures. In short, we help businesses to grow!