The one power that man has always either submitted to or tried to overcome is the power of fear. Those who are weak submit to it and the others who have the courage, overcome it and use it to their advantage. Therefore, the power of fear is inevitable, all you can do is to try to minimize its intensity and turn it in your favor.
Running a business in the world of today is highly influenced by different types of fears. These fears usually stop the businesses from taking growth initiatives, therefore, it is imperative that a business identifies these fears and overcome them to survive and grow. The lines below give the three major types of fears faced by the business and the ways to overcome them for business survival.
Fear Of Non-Lucrative Economy
Perhaps the single most common factor that affects all the members of a society and a country is the fear of a declining economy. The fear of following the economy affects each and every member of the society creating ripple life effects which makes it impossible for the business to think of growth and undertake some venture. For instance, the declining economy decreases the buying power of the consumers, and when the buying power of consumers goes down, the business has fewer people to sell to, thus a business does not think of expanding its operations.
Therefore, for growth, the first fear that a business needs to beat his fear of the economy not being lucrative for growth. In this regard, the thing a business needs to do is to be thorough and precise in its research and calculations. If all the calculations are right, then the business can undertake a growth venture without any fear or else refrain from it. Hence, a business needs to be thorough in its calculations to overcome the fear of a non-lucrative economy and extract as much benefit from it as it can.
Fear Of Failure
It is a universal fear, almost every one of us has this fear, and all of us are continuously battling against it in one way or another. An athlete has the fear of not winning the race, an employee has the fear of not having a job that will pay the bills, a small business has the fear of being eaten up by large corporations, and large corporations have the fear of not being able to expand. However, the amazing thing to notice in all these different forms of fear of failure is that there are still athletes who compete in races, employees who still go to work, new small businesses that enter the market daily and large corporations that keep on expanding their operations worldwide.
All this takes place because the athletes believe in themselves, the employees believe that the job will pay the bills; the small businesses believe that they will grow someday, and large corporations believe that other corners of the world would bring them more profit. Therefore, the fear of failure is with everyone, all a business needs to do to turn this fear into an advantage is by believing in itself, the uniqueness of its offering and the competent workforce that is capable of managing the worst-case scenarios and turning them into businesses’ favor.
Fear of Not Knowing
Another factor that serves as an impediment to the growth of the business is the factor of coming across something unknown. Due to this fear, businesses refrain from expanding to unknown niches and don’t diversify, as a result of which a business is unable to know its full potential and the lucrativeness of different markets.
Therefore, in order to successfully beat such type of fear, a business must emphasize on knowing as much as possible about the factor the not knowing of which haunts the business. If a business conducts proper research about the niches it is going to explore, then the business can bring down the impact of this type of fear substantially and survive the environment of new niches.
Now it’s Your Turn!
In what ways has fear helped or hindered in your business? How did you overcome it? What bounties did you enjoy once you had overcome fear? Share your thoughts I look forward to reading them in the comments section.
This is so great. Love your Business Tips, that is it makes so much sense. People forget that their physical health is extremely important to success.
I used to fear pushing myself but overcame that fear by diving into each day. People around me told me to pamper myself; then I surrounded myself with different people and naturally rocked it out.
You achieve so much in life by facing your fears. Amazing.
Fun and informative article, again, Nate – knowing that fear is an emotion caused by a thought helps me search back to what’s causing the fear, and then look for a solution. Not that it happens that quickly – but it is a solution to help work thru it.
Fear can be helpful, in keeping you grounded and reminding you of the pitfalls, but as you say it can also stop you from acting! The most successful people in any enterprise are those who address their fears and then put their plans into action.
Nate Leung, this is one of the best article i have seen so far on working methods on how to kill one of the worst fear of all “failure”.
Thanks for the tips and recommendation.
As a public speaker, I have to overcome my fear in order to do my job. I feel the fear and harness it to clear my mind so that I can deliver in an outstanding way. I actually expect the nerves and use them positively.
What it boils down to is learning to manage your expectations. In my opinion, fear will never go away. It will always be there, but you can do what you can do manage your expectations towards your fears. Thank you for the comments!
Very Interesting. Fear use to hinder me from doing videos but I just jumped in and did it and I felt great afterwards that I did it. I concentrated on what I needed to do and not think about the fear.
Facing my fear has made me feel stronger like i can do anything I set my mind to. Thank you for sharing
That’s awesome Cindy! I am proud of you. Great way to hinder fear by doing videos. 🙂
Thanks for this great reminder here, failure causes us to not want to take action or a risk. In order to break through, you need to be willing to take a risk at some point. If you have a good plan of attack you just have to take a leap of faith and move forward even if you are unsure of where it will lead you.
Sometimes that’s where it leads to. Taking a leap of faith and believe that eventually you’ll reach the success you desire, and never giving up!
Thanks for sharing Nate. Here’s my point.
#: Fear to walk alone outside the crowd
I’ve seen many people who have a lot of creative idea but they were just not smarter to let it happens. In fact, success is with the action takers not with those day dreamers!
Great post Nate.. Yeah i think its normal to start something new and have a little apprehension but your post above really makes good sense. I also believe you have to silence the little voice in your head that may be adding to the fear of failure.. Totally enjoy reading your posts.. You always have me thinking..
Great minds think alike! 🙂
Many do fear FEAR but there is one meaning I read about fear which has being with me all these while as False Evidence Appearing Real!
That’s exactly right my friend. Thank you for the comments!
Great post Nate! Fears are what holds everyone back from accomplishing greatness! You cannot move forward or achieve your goals without facing fears. The pay off is the person you become when facing those fears is priceless. Great tips and awesome post!
That is the focus we should all be doing. Focusing on the end result and not what’s in front of you today. Awesome feedback Mike!
Awesome post Nate!!! Thank you for sharing these tips on how to overcome your fear of failure….
You’ve hit the nail on the head on all three of these points, Nate, having experienced fear of economy, failure and not knowing myself. They can be difficult fears to overcome, especially if you are just started in a business endeavor. Sometimes you just have to ask “as if”, within reason, of course. Thanks for your insight.
You’re welcome Jeanne!
Nate, thanks for this article full of great tips. Aside from false evidence appearing real, I’ve learned over the years that people are most afraid of dying and public speaking. I LOVE public speaking. I am energized, I see the impact I make and there is something magical about pushing through my fears, doubts, stress, and that little voice inside my head and just doing it! The more I do things like this to push through, the easier it becomes. I find it difficult at times to stop fearful thoughts and simply have faith knowing everything always works out when I’m knee deep in the situation at hand. I overcome fearful thoughts by replacing them with faithful ones. Faith versus Fear.
It’s a great thing you mentioned about what most people are fearful of. Statistics say that public speaking is #1 on the list and dying is #7. So, that tells me that people would much rather die before they get in front of a bunch of people. Faith over fear is a great way to approach your fears! Thanks for sharing!
Fear hindered me for a long time now I look at fear as an opportunity to prove to myself how powerful I really am. 🙂
Right on Judy You rock!
You are absolutely right Nate! Fear – False Evidence Appearing Real. So real that it often debilitates our dreams. To battle this I recommend: Read Good Books, Listen to uplifting and motivating audios, and get around winners in spirit. Flush out that fear with so much positive. The mind and only hold one thought at a time. Thank you for posting this great article!
The mind “can” only hold one thought at a time.
You’re welcome Greg! Thanks for the comments!
These are some valid points you made to overcome fear.. doing thorough research and believing in yourself and what can be the outcome will help over come these fears.
As far as fear of failure, yes, we all had this fear. As for, in order for me to overcome this fear, I look at failure as a way of educating myself. I believe experience is our best teacher by the fact that we can learn to get into the vibe and rhythm of things on our own better than just reading a text book and thinking “logically” per se.
Iogic stems from experience. We can’t really learn from other people’s experience until we go through it ourselves. Then we can definitely be more empathetic towards what they went through, and figure out what we have to do in order to achieve.
Thanks for sharing!
Love the comments Sherman! Thanks for sharing 🙂
Great post, Nate!! Fear is what holds me back from taking action! I am happy to say that I have moved past most of my fears and am going after ALL my dreams!! 😀
Woot woot! Your rock Alanna!
Fear of failure is failure itself.. awesome read Nate!
Fear of failure is what stops people from actualy accomplishing something great! It’s time for most people to understand that it’s not bad to fail 🙂
Great post Nate )
Fear can paralyze you from moving forward in anything you do. Many times I’ve sat at the keyboard starting to write, thinking “What if they don’t like it? What if they don’t read what I write? What if, What if?
If you don’t fail sometimes you will never know what does work. Just keep on trying.
The reason why people get those thoughts in their head is that they are trying to please everyone. They are trying to be perfect for whoever is reading their blog post or watching their videos. If that is the case, the person trying to write the blog post will never get past that fear because they are in constant pleasing mode. Once that goes away, fear goes away as well. Thanks for the comments!
Great post- I think the fear of a failing economy is huge, especially as the majority of people feel as though they have no power over it.
Most fear is created by ourselves and never is what we imagine – usually. For me fear is a guide that I’m on the right track moving out from my comfort zone… Failure is a learning “canvas”. Good things, mistakes and all can come from failure…
Always find a way to step outside your comfort zone, even if you do not want to do it. That way, you do it once, you can do it again and on top of all that the fear starts to disappear. Thank you for the comments!
When it comes to fear ,I stay with what Dale Carnegie said : First ask yourself: What is the worst that can happen? Then prepare to accept it. Then proceed to improve on the worst.
Thank you for this interesting post ,Nate
Awesome post. A failure on one level is often a success on another.
It seems that fear is behind all our attempts which prevent us to evolve and grow in business but also if we do not try we’ll never know which is our potential that is strange paradox