Most people fancy of opening startups and becoming entrepreneurs.
Yet, the number of people who actually realise this dream and become entrepreneurs are very rare, about 3 out of 10.
Others keep doing their regular jobs and thinking the whole life that they’ll start their own company someday.
Although, that never happens.
Because!
There are some entrepreneurship stereotypes and some fears always keep holding them back.
These are the same fears that Applify faced and conquered at the beginning of its entrepreneurship journey. Hence, we find ourselves in a position to help you out.
This is the sole reason behind this blog which details a list of:
Fears that are holding you back from becoming an entrepreneur
1. Fear of Losing Security
This is the most primal reason most of us fail to become entrepreneurs. We want to stick to our jobs, the reason being they offer us security.
The mere thought of quitting the job ignites thousands of questions in mind like:
Who will pay my bills?
What will happen to my EMIs?
How will I manage to do shopping and have dinner at classy restaurants?
so on...
Given this, we keep postponing our decision of starting own business.
Conditions will be stable a few years later and I will be in a position to open my own firm - we always think.
Although, the list of problems keeps growing every year with added responsibilities of wife and children when we marry.
As a result, we keep doing our regular jobs and even retire but never realise our entrepreneurship dream.
How to overcome this fear?
It’s natural to cling to your job because it offers security and a steady paycheck. Although, you need to know that you can’t become an entrepreneur without taking an initiative.
Either you can devote your whole life to your job or take a brave step towards realising your dreams.
Anyway, you’ve to quit someday if you want to become a full-time entrepreneur. So, why not today?
2. Thinking that your idea is not good enough
Most people have this habit of underestimating their ideas.
“This idea doesn’t have a kick. No one will like it. Let’s wait for something more intriguing” They keep thinking whole life.
Ironically, that day never comes because they find every idea unappealing and the same cycle continues. Eventually, their dream of opening a startup remains just a dream.
How to overcome this fear?
There’s something I want to tell you from my experience:
An idea is as good as you think it to be.
If you’re not convinced that your idea is good, you’ll never be able to convince others. It’s your heart that you need to win first.
So, if you have an idea, go ahead and pursue it. You never know if it becomes the next big thing.
- Fear that you don’t have enough finances
Yet another fear that prevents people from opening a startup is that they don’t have enough money to invest.
“Not this year! I don’t have enough money. I will save enough for the next year and then I will launch my own company” they often think.
Although, that never happens given their expenses keep mushrooming every year and they’re stuck with their job.
How to Overcome this fear?
Not every company that’s big today started with big capital. Google begin their journey from a garage. Mark Zuckerberg had to loan $1,000 from a friend to create Facebook. There are several other companies who ran on the budget of founders till they finally got an investor.
So, if you want to become an entrepreneur, you’ve to stop believing that money is a hurdle. If you have a belief in your idea, you will definitely get investors.
- Fear of getting failed
Recently I was having a talk with some friends who’re dreaming of starting their own business since college days but still haven’t pursued it. When I asked them the reason, here’s what they responded:
What if my business doesn’t work? I will be ruined. How will I face my parents and relatives after that? They will make fun of me.
This explains very well why most people’ dream of launching their own company remains just a dream and they never achieve it.
How to overcome this fear?
Giving up on your dream is more painful than failing while trying to achieve it. What if your business will fail? At Least, you’ll have a satisfaction that you tried. Moreover, you’ll earn experience.
So, don’t let the fear of failure distract you from your goal. If you want to become an entrepreneur, start it today.
- Thinking that you can’t do it alone
Some people want to start a business but not alone.
Why?
Starting a business solo has a risk. Moreover, they’ll have to manage everything on their own.
So, they wait for other people who can join in the journey, which seldom happens.
How to overcome this fear?
There are lots of things we do on your own. So, opening a startup alone shouldn’t be an issue. It’s little difficult but with a little effort and dedication, you can manage it.
That’s all we have on our list. Do you have any other fear that’s preventing you from becoming an entrepreneur? If so, let us know in comments!
