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Is your fear holding you back?

3 Emotions All Entrepreneurs Feel (and How to Keep Them in Check)

Emotional stress can lead you to hasty decisions.

Pejman Ghadimi

Unchecked emotions are one of the main factors that can cause normal, educated and smart people to make all the wrong decisions. While under emotional stress, you can make decisions that you would never consider otherwise.

There are three main emotions that can dramatically influence the decisions we as entrepreneurs make. See how you can overcome the most common mistakes often caused by them.

1. Anxiety

It’s normal for entrepreneurs to feel anxiety as they try to launch a new business or grow an existing one, and it’s very important to learn to control it early on.

Anxiety typically comes from the fear of the unknown and our lack of confidence in the work or process at hand. Often, we haven’t created a strong enough foundation to feel confident and stable in our abilities.

Should you find yourself in a situation where anxiety consumes your brain, perhaps it’s time to take a deeper look at your business in these three core areas:

• Analyze your structure and decipher if you have all components needed to support your customers and the team working to serve them—from IT to customer service training and protocols.
• Analyze the core of your team by making sure you have the right people in the right positions. Everyone brings a unique set of skills to the organization. Ensure their key talents are aligned with the work they do.
• Understand your destination and keep a clear view of it. In the earlier phases of a business, it’s easier to know where you want to go, but as revenue, teamwork and obstacles come your way years later, many entrepreneurs lose sight of the destination and instead focus on the immediate future.

Address these common issues to alleviate your anxiety.

2. Anger

Actions and decisions made in anger are automatically negative. Anger is powerful but easily controllable because time can dissipate that strong emotion. Some of the worst decisions can be made in moments of anger and can easily be avoided if you wait 30 to 40 minutes between the emotion and the action.

Keep in mind that anger can be especially dangerous when combined with pride. If you struggle with pride and ego, know that about yourself and don’t let anger dictate your actions. Take more than 30 minutes to reflect on the factors that caused you to feel this way and focus on a positive way to turn the situation around. Do not allow the immediate emotions to hurt your feelings and cause a desire for immediate retribution.

3. Fear

Fear is the emotion that keeps us from taking chances or achieving more. We either fear the outcome of what we are about to do, or we fear failing. In other words, wondering what if constantly plagues our minds and dictates our lives.

We fear the business we want to start will be too difficult or might not work. We fear investing because of the potential loss. We fear rejection, so we don’t approach potential clients at a networking event. We even fear missing out on an opportunity so we rush in too quickly.

Fear can be easily manipulated through the ability to assess risk and possible outcomes. We must look at the maximum gain and loss and then determine the proper course of action. But first we must accept the fact that without risk, no return can exist.

Next time you are afraid, take a moment and do nothing. You cannot assess risk when you are emotional and can’t clearly justify outcomes. So just pause and let the emotion settle. Then act.

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The Number 1 Reason Why Women Don’t Start Their Own Businesses

If you were to ask women who work full-time and want to start a business, why they haven’t done so yet, what do you think their reason would be? Is it lack of money? Contrary to popular belief, the number one reason I am given is NOT money. Instead, they mention a 4 letter word over and over again. That 4 letter word is…FEAR.

When I speak to these women about why they haven’t started the businesses they desire, they ask me questions such as:

• What if I fail and have to go back to my 9-5? (fear of failure)
• What if my business takes off faster than I can keep up with it? (fear of success)
• What if I can’t balance working full-time, my family, and starting a new business? (fear of the unknown)
• What if my family and friends don’t support my new business? (fear of not being supported)
• What if I can’t make a consistent income?  What about benefits and a retirement fund? (fear of the unknown)

All of these questions are wrapped in fear. Have you asked any of them yourself? Have any of them kept you locked in a job in which you are not happy? If you answered “yes” to ANY of these questions, you are not alone. Unfortunately for many women, they never get to experience the incredible feeling of being their own boss.

However, this does not have to be the case! So, how do you eliminate these fears, so that you can begin the journey of owning your own business?  

Below, are 4 simple steps you can take today to kick fear to the curb for good:

1.Create a success mindset

Your mindset is the number one asset you need to have in order to have a successful business. Your thoughts determine your level of success, and therefore they must be positive and encouraging. One strategy you can use to create a success mindset is visualization. It involves you creating a mental account of a major milestone in your business (i.e. getting your first paying client, achieving your first 5 figure month, etc.).

Write out this account in very vivid detail. Include such things as what you are wearing, what you are saying, what you are doing, etc. when you experience that milestone. Play this picture over and over in your mind every single day.

The mind is just like a muscle – the more you exercise it, the stronger it gets and the more it can expand.”- Idowu Koyenikan

Set 3-5 business goals at the beginning of each week

This helps you set the tone for the week, and it keeps you focused on growing your business. SMART Goals are a very effective method to use to ensure you set meaningful goals. SMART Goals are Specific, Measurable, Attainable, Realistic, and Timely. An example of a SMART Goal may be: by the end of the week, I will apply for my business license. Halfway through the week, check on how you are progressing toward reaching your goals. At the end of the week, reflect on how well you did in achieving those weekly goals.

3. Schedule time to work on your business daily

Scheduling at least 30 minutes per day to work on your business helps you with time management. It can be extremely difficult starting a business while working full-time and balancing a family. This is why time management is extremely important to the growth and success of your business. If all you are able to do that day is post on social media about your business, that counts.

By letting even one day go by without working, can lead to multiple days going by. Before you know it, a whole week has passed.  It then becomes more difficult to work it back into your daily schedule. After a while, your business is no longer a priority. This could then lead to you giving up on it.

“This is the key to time management – to see the value of every moment.” – Menachem Mendel Schneerson

4.Create a strong support system

Surrounding yourself with people who are also on the same journey to entrepreneurship, can be very beneficial to the success of your business. They can add that extra support and motivation you may need to help you grow. Having an accountability partner, business coach, and/or mentor can also help you avoid making costly business mistakes.

Set up a plan to check in with your support system at least once a week. During that time, discuss what has gone well for you that week and also the challenges you faced. Having a sounding board can help you find solutions to those challenges.

Do not allow fear to keep you from starting your business any longer. Instead, implement these strategies so that you can be well on your way to having your own successful and profitable business.

What is a reason you have for not starting your own business? Leave your thoughts below!

Your December Action Plan: 10 Ways to Be a Better You

Start by focusing on the people you love.

by Cecilia Meis

This month, spend some quality time with your family, and then some introspective time with yourself and your hopes and dreams—and become a better you in the process.

1. Character First

Consider the character traits that will allow you to be the best version of yourself, and work to improve a different facet of your character each day this month.

2. Tally Up

Write down the top 10 motivators that drive you to succeed. It could be family, legacy or influence. Now identify what items on the list haven’t been receiving the time and attention they deserve.

3. Influential Roots

Who taught you the strongest life lessons? Who do you influence? This week, focus on those people and commit to positioning yourself as a positive role model.

4. Draw the Line

If you and your spouse both run successful individual operations, take time to establish professional boundaries, but still leave room for shared goals. Talk through any doubts you might have.

5. Conquer It

What do you fear? Focus on that fear, write it down, and then construct a plan to overcome it. Sometimes putting our greatest fears in perspective gives us the mental power to get rid of them.

6. Spread the Love

Spend this month finding ways to give back to others. It can be as simple as buying coffee for a stranger or donating clothes and blankets to your local homeless shelter.

7. Memory Lane

Dig through old family photos. Remind yourself how many reasons you have to smile. Stick your favorite one on the bathroom mirror as a daily source of happiness.

8. Nice to Meet You

Strangers can change your life. Venture out of your comfort zone today and make a goal to meet and interact with five strangers for at least five minutes. Ask questions, listen and embrace unexpected conversation.

9. Branch Out

Reach out to an extended family member—a distant cousin or aunt you haven’t seen in years. Write a letter or pick up the phone. Reconnect and revel in the power of the family bond.

10. Give Happiness

You have the power to turn a negative situation around. Respond positively to that co-worker who complains too much. Happiness is contagious. Pass it on.