The reality of the startup industry is that you are more likely than anyone else in the business world to fail. In fact, 95% of them fail. You need to accept that fact right away. And even if that fact scares you, the chances are you are not going to have a successful career as an entrepreneur.
Entrepreneurs are well-aware of the potential for failure. They simply don't care about it. This is not something that bothers them in the slightest because they believe in what they have.
In order to succeed as a startup fear of failure must be left behind.
Take a Risk
The life of a startup is about taking constant calculated risks. You need the courage to take these risks in the first place. It may be going to market early or it may be having the courage to take on an enormous competitor with a brand new idea. You have to take risks all the time.
If fear of failure is getting in your way, the chances are you won't take these risks. You will play it safe and you won't gamble.
But you don't have the resources not to gamble. Startups that don't gamble are likely to either lose money because they are not bringing in enough customers or they are going to simply push along, without spending much and without making any revenue, which is as good as being dead in the water.
A Pervading Culture
You as the leader of your company are responsible for everything that goes on within that company. The type of culture you have as part of your brand is influenced almost entirely by you. Everything you do directly and indirectly affects everyone working for that company.
Think about what happens when a corporation is about to let people go. Everyone knows that during that period of uncertainty those feelings of nervousness filter down to the average worker. Employees aren't stupid. If there are any signs of fear and concern at the top, it's going to impact on them.
Because it Will Happen
Failure is something characterized with going bankrupt and seeing all your hopes and dreams smeared across the office floor. But it's rarely as dramatic as this. Failure will happen on a regular basis. You will become so used to failure as a startup that you should be able to brush it away without any problems whatsoever.
Yet so many startup owners are unable to do this. They are so scared of failure that they will become paralyzed. Since most instances of failure come in the form of small tasks with various teams within the company, you find yourself in a situation where you are unable to do anything at all.
Forget about SEO. You are too scared that Google is going to penalize you. Forget about designing those marketing materials. You are too scared that people aren't going to like them.
How to Overcome Fear of Failure?
As you can see, fear of failure can bring your company right down to the ground. Overcoming fear of failure can be done for even the most skittish business owner.
First of all, you have to deal with the fact that failure is going to happen. The acceptance stage is the first step to dealing with this fact. Next, you have to go out of your way to experience what it's like. If someone is afraid of dogs, the first thing a psychologist will say is that person needs to come into contact with a dog. They have to touch the dog and interact with it.
It works the same way with your company. You have to go out of your way to fail and fail again. Do something that has a low chance of success. Of course, you shouldn't be reckless about it, but the more you experience it the less you are going to fear it.
Failure is a good thing because it means you are trying new things. Failure provides ample opportunity to learn and grow. If you can go out of your way to take a risk, you are going to become more comfortable with the potential for things not working out.
And this can only be a good thing. Once you learn to overcome failure, you will feel liberated from your fears and better able to take positive steps forward.
How will you overcome your fear of failure?