Fear of failure is a big one for all of us. This six point plan could be the template for life and not just in business.
1. Accept that fear of failure is a completely normal and rational emotion.
As children we tried things usually without fear. As we get older we began to appreciate that sometimes things don’t work out and there can be consequences. The trick is not to let your concerns get out of proportion, as we get older human conditioning forces us to consider the negatives and so we must try to balance these with the positives. If a touchstone helps imagine a business person you respect, then ask yourself what they might do in your situation.
2. Learn from your own past experiences.
Look back at your own experience. You should focus on successful events in the past. Remind yourself that if things worked out then they could again.
3. How big is the risk? Be sure it is not extreme and mitigate against the downside.
They say ‘aim for the stars …… but prepare to accept just the moon’ Ensure your expectations are realistic but they should still be stretching. If you set an unrealistic target you will have the perfect excuse to give up and not feel guilty.
4. Talk to others – especially people with relevant expertise.
Search out individuals who you know have had similar experiences. Tell them your areas of concern and talk through likely outcomes. Be honest, don’t hold back and above all listen. You might not agree but another perspective is always healthy. Always seek out professional advice if available.
Often we over-estimate the worst case scenario. Our fear of failure conjures up all sorts of disasters in our mind. But if you can quantify to a reasonable degree the probable consequences this will help quantify the maximum downside. At this point you will better understand if it is acceptable to you.
6. Be assured risk taking in business as in life generally is an integral part of being a go getter.
Taking risks is an essential part of winning success and there are very few entrepreneurs who have made their fortune without taking calculated risks from time to time. There is little wrong with sure and steady and following your instinct and taking the odd chance will lead to mistakes – but so long as you learn from those mistakes …….. now there lies the key.
by Tom Calvert