How to Overcome the Fear of Failing in Business

Updated: Sep 7, 2020

Often times the biggest roadblock on an entrepreneur’s journey is fear. It’s not the fear of getting started, we can take those first few baby steps that require minimal risk no problem, it’s not even the fear of not knowing what we want, we can figure that out. The biggest fear that we have to overcome is the fear of the possibility that we might fail. And it’s not just the failing part that scares us, “Oh well this business didn’t work out” — it’s losing all our hard-earned investment money as well as disappointing others or worse, proving them right.

But ultimately we are afraid of disappointing ourselves.

I wish I could tell you not to worry and that you’re not going fail, but that wouldn’t be truthful. The reality is you may fail, as an entrepreneur. I’ve had traumatizing experiences in business that have definitely hurt my confidence and led me no longer trust myself. I have failed and maybe you have too. Maybe you’re struggling right now to keep going with your business idea because you are afraid of failing again. We hear that nasty little devil on our back, and we all have one, trust me, no one is special, saying “See, you couldn’t do that.” We start listening to the noise around us, and often times that noise isn’t very supportive. Then we just want to give up. I’ve been there. So what changed? I started viewing my experiences as lessons instead of mistakes. I don’t even believe in mistakes anymore, I think that every experience is a lesson that we can learn from and become stronger. I started telling myself that I can learn from these experiences and I can build my business in a way as not to repeat that same outcome. Instead of letting challenges dishearten me, I decided to rise up and meet them; I will find a way no matter what became my battle cry. I still struggle with fear, I’m not going to lie and tell you that it ever completely goes away, but I push through and pursue my business ideas despite fear, and that is how I overcome it. Here’s an exercise for you, I want you to write down every instance where you feel like you failed or had a negative result (this part will probably be easy). Then I want you to write down everything that you learned from those experiences that have helped you gain competence. What you are proving to yourself is that those negative experiences were circumstantial. There’s an acronym that I love, C, T, F, A, R. It stands for Circumstance, Thought, Feeling, Action, Results. The thing about circumstances, which is you're starting this business and for whatever reason, it falls apart. It's something you cannot control 100%, but the thought is 100% in your control. If you just write the flow out and you see that either your thoughts are “I'm a failure” or “I never want to feel like that again” then that's your feeling. And your action is you don't do anything, you don't start a new business. Your result is you actually never get to design a business that gives you a lifestyle you love.

Whereas if you think positively, "this is an amazing learning experience", you feel empowered that you know you are not going to make the same decisions, and then your actions are you feel more confident and continue going, and the results are that you pursue this new business and lifestyle that you want.

To sum everything up, you might fail, but you might not. And if you do fail, you can learn from the experience and use it to build your next business stronger. Most of the successful entrepreneurs that we look up to have had multiple businesses fail, but that didn’t stop them, and it shouldn’t stop you from either pursuing your business idea or starting again after a failure.

Franceska x

PS. You may be interested in my entrepreneur mentoring services if you are an aspiring entrepreneur who is struggling with getting started, zeroing in on a specific business idea, or struggling with mental blocks such as fear of failure and losing money or feeling like you don't look the part, I'll help you tackle those roadblocks so that you leave the call with an "aha" moment and a clear plan of action to pursue your business idea and design the life you love.  Click here to learn more.

PSS. Looking to get started designing a successful business? Then you'll want to watch my FREE Masterclass: How to Go From Corporate Job to Self-Employed in 90 Days WITHOUT Fear of Failing. Learn the 3 (time, money, and security) mistakes that are holding you back from starting a business and what you can do to move forward (with real-life examples), as well as the structure you need in place in order to build upon. Watch now!

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