Starting a new business can invoke strong feelings in even the most experienced entrepreneur. Here’s how to get a handle on it and push forward to success.
Embrace the Unknown
Just like with trading stocks to make a profit you’ll never know everything about all of the moving parts involved. Rather than feel unease or feeling like you need to control everything, come to terms with the fact that you’ll never know it all and the possibility of failure will always exist.
Don’t be afraid to fail, be afraid of not taking action. It’s better to go out and try something great and fail at it than to not try anything at all.
Learn As Much As You Need To
If you are venturing into unfamiliar territory try to get as much information as possible, but not so much that it becomes overwhelming. There’s something called “paralysis of analysis”, which means you’re spending too much time trying to get all your ducks in a row before taking your first step.
The phrase “Ready, Fire, Aim.” is a good way to keep yourself from falling into the analysis trap. Jump in and start taking action and then decide if the action you’re taking is producing the results that you want.
Seek Sound Counsel
When it’s all said and done, you should trust yourself and your gut, but that doesn’t mean you shouldn’t take advice from those in the know. Just be careful you’re getting counsel from those that are worthy of providing it. Listening to naysayers or those who are using their own negative personal experience to guide you in your quest is not a good idea.
The people you should listen to have been where you are and are currently where you want to go. They used the same vehicle to get there as the one you want to use, and are willing to help you learn the game as you play. Look to them as a mentor, but always make your own decisions when it comes to your core business.
Ignore the Statistics
If you dig deep enough you’ll find statistics that say most new businesses fail, but what these kind of stats overlook is that there are still plenty of new businesses that succeed in one form or another. Never let what happens to other people dictate how you make your decisions. There is always an outlier that breaks the mold and there’s no reason that can’t be you.
Take a Leap of Faith
When you’ve done all your homework, prepared as much as you can, and are ready to launch, all that’s left is to take the final leap of faith. Trust in yourself and your processes and know that everything will go well. If you do run into a snag along the way you can have faith in yourself to be able to overcome it in the moment.