Run Your Own Business: Six Fears to Overcome

Do you dream of running your own business? The idea of calling all the shots has prompted millions of people to go out on their own, determined to make a living in a more meaningful, profitable, and satisfying way while also allowing them to pursue a more balanced and enjoyable life.

So what's holding you back? What are the first thoughts that come to mind when you think of starting your own business? If you've been reluctant to go out on your own, it's time to consider what may be the biggest obstacle in your path: You.

Yes--You may be limiting yourself with beliefs and fears that are preventing you from moving forward.

Fear is a common stopping point for many people. It's tricky, since some types of fear are good for you. If the fear is rational, it serves as a warning about real risks you may be taking. Business is inherently risky, after all. But don't let fear lead to limiting beliefs that hold you from your best shot at achieving your dream. Use fear wisely by acknowledging it, thinking it through objectively, and getting to its real source.

Here¡¯s an example: Roberta had postponed going solo as a marketing consultant for the last two years because she feared being a failure. When asked what failing meant to her, she said it was running out of money (the real source of her fear). Together we created a plan to ease her fear that included building up a cushion of six months¡¯ living expenses, and setting up an additional income stream from part-time editing work. With the new plan in place, she was able to move forward and start building momentum towards her big goal.

Some people make the mistake of denying their fear. They make excuses, finding ways to rationalize their unwillingness to go out on their own. I hear this occasionally in my coaching practice; a client has been tuned in to the negative stuff, and has searched for reasons not to proceed with their venture. Keep in mind that whatever you focus on EXPANDS, so make your focus positive!

Here are SIX BELIEFS that may be preventing you from going solo. Check out the solutions for getting past the limiting beliefs and the fear. Then, get out of your own way!

1. The "all or nothing" approach. Many people get stuck on the idea that they'll have to go for it ALL at once?or not at all.

SOLUTION: There are many ways to EASE into a new venture. First, break the big picture down into manageable steps. Consider keeping your current job at first, scaling back to part-time as you moonlight. Or become a contract worker or consultant for your existing employer to get more flexibility in your schedule. Many entrepreneurs enlist their skills and talents to create multiple sources of income as they build their business. Don't wait for everything to fall perfectly in place.

2. ¡°I don¡¯t have enough time, money or energy.¡± Here's a BIG stopping point for many.

SOLUTION: Put a plan in place to build up the reserves of time, money and energy you'll need in order to pursue your new venture. Simplify your life by getting rid of anything that drains or annoys you: clutter, unhealthy habits or relationships, social obligations and anything left "undone" that¡¯s nagging you. Free your mind and your energy to go after what you really want. Also, consider how many months of living expenses do you need, and devise a specific plan to reduce spending and increase savings. It's easier to get over any bumps in the road when you have these types of reserves in place.

3. "My product or service might not be good enough." Not sure how well your idea will fly?

SOLUTION: Conduct a pilot project to test the waters, get great feedback, and envision new possibilities, value-adds, etc. Ask for honest appraisals of your service, and determine what else your customers want. You don't need to be in business yet; do it for free and take orders for your projected launch date!

4. ¡°No one around me thinks this will work.¡± Are you continually talking yourself out of your ideas?

SOLUTION: Quit looking for reasons NOT to do it. Avoid talking to people who don't share your enthusiasm and 'can do' attitude. Seek out those who support and encourage you and can help spread the word about your new business. Most importantly, talk to successful business owners about their own journey. They'll be flattered you asked.

5. "I'm not business-savvy enough." Worried about not having enough expertise to be in business?

SOLUTION: I believe that most people are intuitively business-minded. Get any extra help you need by utilizing the many resources available to small business startups, such as the Small Business Administration, local workshops, accountants, and easy to follow software programs for writing business plans. A business plan is a must for any size operation; start with a preliminary plan and add to it as you compile information from doing pilot projects, questionnaires, and other forms of research.

6. "I'll be alone!" Isolation can be a real issue, especially for work at home business owners.

SOLUTION: Replace the water-cooler socializing with your own network.of individuals that will be a great source of information, advice, referrals, and support. Schedule regular outings with friends and set aside time to connect with other business owners. Also,consider partnering with someone who augments or enhances what you have to offer.

When you challenge your beliefs and begin to move past your fears you'll discover the life you really want to be living.