Interested in starting or buying a business? Is it time to make a change in your current business? What’s holding you back? Like a lot of business owners and entrepreneurs, you may be afraid. There’s a lot going on in the business environment right now, more so than usual, creating huge amounts of uncertainty and quite frankly, a lot to be afraid of! How can you get past that and do what you want, or need, to do?

Recognize Your Fear. Did you know that there’s a clinical term for fear of failure? Atychiphobia (a-tik-i-fo-bE-a) is when you’re so frightened of failure that you stop taking risks. Fear can show up as several behaviors: Procrastination, hesitation, inaction, vacillation and lowered tolerance for risk. These barriers to progress often show up as “self-sabotage” as a symptom of your fear. You may be surprised to know that experienced business owners experience fear too. Business growth and expansion can trigger new fears- fear of success!

Understand Your Fear. Fear of failure can masquerade as many other things, for example fear of technology. Are you hesitating to do the webinar that would help your business because you need to figure out the technology or it may not work? A fear of rejection, another form of failure, may be keeping you from selling, or selling effectively. Ironically, if you don’t sell, you fail anyway! Some fear is good. It’s the butterflies before a presentation stomach that helps perform better. Fear is also a good teacher. Fear of the unknown prompts us to prepare well, which enhances success. Fear can prompt us to take action (fight or flight). If you are avoiding taking certain actions in your business because you ‘don’t have the skills’, ‘don’t have the money’ or ‘can’t find the right resources’ ask yourself whether this is, in fact, a fear of failure, fear of the unknown, or fear of success.

Address Your Fear. The most important tool for dealing with fear is to learn to reframe your perception. Thomas Edison invented the light bulb on his 10,000th attempt. When asked by a young reporter how he felt about failing 999 times, Thomas Edison reportedly just smiled and replied, “Young man, I have not failed 999 times. I have simply found 999 ways how not to create a light bulb.” Beyond thinking about your fear differently, here are 5 practical tools to help you address your fears and allow progress:

  • Create a plan of action with small measureable steps
  • Develop a support team
  • Learn as you go
  • Focus on, and leverage your strengths.
  • Align your goals with your personal values.

A business coach can be a valuable part of the support team for your business. At AdviCoach, our coaching is customized to meet your individual needs and goals, with a focus on Awareness, Education and Accountability. We invite you to contact us at 860-876-6199 or sklewis@advicoach.com to schedule a complimentary coaching session to start addressing your fears.