How Did You Overcome The Fear Of Starting A Business?

[kuberan_swe 1]

Hello, Everyone.
I've been wanting to start up my own business for years and finally decided to take the plunge. I filed a resignation letter to the current company I'm connected with. However, the more I research, the more overwhelmed I get! I begin to see all the risks and I start finding myself backing out of my plan.

I have always known that starting a business is risky. However, now more than ever, I find myself obsessing over the risks and getting overwhelmed by all the things I need to consider (e.g., should i sell online?, apparel or accessories?, etc). I have always wanted to open online store but given all the competition around me, I feel as though I'd do better selling something less risky if I go online. And, soon, my mind starts to spin out of control!

I know in my heart I want my own business but I am just terrified. Financially, it's a huge risk. Has anyone else gone through this emotional rollercoaster? If so, can you please share how you overcame your fear? And, has anyone ever backed out of a plan and NOT regretted it? I am trying to figure out how to tell when it's right to back out versus move forward (though, like I said, in my heart I know I want this).

And, does anyone have advice on how I can tackle all the questions surrounding the type of business to have, whether to go online or get a physical store, etc? Thanks so much, everyone!

Hey its always very thrilling in life to take risks. When you want to do such things. You got to have a daring attitude to take any risks. you must also be ready to face the negative consequences if any. We Must also realize the real worth of taking the risk and also realize the big leap we would get if we overcome and execute this risk. In your case resignation of your existing job is an extra risk in addition to your risk of doing a new business.

[icemath 0]

Dear Feedcare, I can thoroughly understand your current complicated feelings: hopeful and fearful, excited and disappointed, believing and unsuring, since I have gone through a similar experience. The essence in this matter is to weigh the benefits and risks. Though small the business I opened, I think the essence are just the same. First, I discussed with my best friend about my plan, exploring tailed crystal present market. In this way, some pressure can be released to some degree since there is always a partner beside you, supporting you. Here comes the fearful question: how can we open the completely new market in a two-month-long summer vacation? how can we keep the financial balance since neither of us have related experience? Secondly, we referred to some similar out-craving cases from our relatives. In this way, we got a clear outline of the potential difficulties, risks, as well as chances. Afterwards, a more detailed plan came out: using famous B2B website as our base to promote our products and brand, selling accessories to keep balance. This time, another question came out: Can it work? How if we failed? Then, both of us consulted to our parents about the maximum failure they can bear with, since most of the initial finance came from them as an investment. Thus we got an approximate agreement: no matter what the result would be, success or failure, we can bear with the worst deficit if it happened. In this process, the most important thing is to judge your expectation: not too high. Finally, we just kept balance in finance after vacation-long operation. However, we became more mature in the communication with customers, cooperating with partners, managing finance, setting the prices. After all, we came through the hardship-a great treasure to both of us.

[Ucrg 0]

Well if I were to start a business then I wouldn't just quit my job and start working on it as the business initially takes time and investment to work and if you quit your job then I doubt you would succeed unless you have a good amount saved up to cover your expenses and investment you need to do in your business.I would say that just keep your job so the fear is minimized and work on your business. Set out a plan on how to progress business like the market research of what you want to do and stuff.Invest time into your business and work your way up and when the business becomes stable you can then quit your job.Best of luck to anyone who wishes to venture into starting their own business.

[moutonoir 0]

I agree with the importance of keeping your current job. I am hoping to start a business soon, but I am still keeping my original career path in mind in case things don't work out. Unfortunately, most small businesses do go under within the first few years, so you need to keep this in mind when starting a new business.However, you can't succeed if you don't try, so don't shy away! As long as you've got a stable source of income from elsewhere, you can take the risks you need to take to launch your business, and hopefully it will be successful

[junglefood 0]

My dislike of having very little money is essentially what drove me to starting up my own business. That isn't odd, right?

Anyway, here is where I learned it all

http://forums.xisto.com/no_longer_exists/

[joeblogg 0]

you should have stayed at your original job while starting the business and once it starts turning over some money and getting some customers then you can quit your job. you need to make sure your stable with the business before quitting your job. but you did so that means the success of the business is even more important. don't freak out it just means your going to have to put a lot of time and effort into the business organizing everything from advertising to staff to bills. just remember your not going to be a millionair just like that. it takes time and effort.good luck with your business. i hope it goes well.

[kingjim007 0]

Planning planning and planning. You really need to not only research what you want to do but actually reverse engineer how you will get there. This is where a good plan or even a business coach can help.Making mistakes is also a good way to learn? If you plan all the time and do not take enough action then you will never have the opportunity to learn from your mistakes. You will procrastinate and not move forward. When you move you gain momentum and whilst already moving you can more easily change course if your results are different to what you expect. Try changing direction while you are at a standstill!Talk to other people that are doing what you want to do. This can work if they are actually successful and not just wannabes sitting in a chat room or forum saying all the reasons why they are NOT succeeding :)Knowledge overcomes fear everytime. Either by study, by observing and modelling others or using your intuition you can gain knowledge. What is wrong with trying many things? We are so conditioned to have to choose a 'career' that sometimes we don't want to go out on a limb and try something different. How will you truly know what inspires you if you don't give a few things a go?Just do it! There is a reason why that 3 word phrase is so popular. The only way to overcome fear sometimes is to just DO IT. Use it when asking someone on a date or in starting your own business but just use it! And if your new business is to start a dating company then all the better! Hey that is not a bad idea...KJ

[Variablez 0]

You just need confidence to do this. And in order to get confidence you must:Be Proud Of YourselfHave Good Self EsteemDont care what others think, many people will buy!Just try it and it might work.Get some friends to encourage youEncouragementand most importantly... you need a good idea!Now you have a good Idea and wana start your buisness! Okay, lets start with a website, im sure you could find a free webhost and then transfer the domain for .com (with Xisto of course!!!).Now you need to advertise, who will buy if you havent got any customers? Start advertising by putting your site on Google, mine got put on within 1-2 days! Especiailly if you have a .co.uk domain, then Google would make that Priority!If you have enough money (a few hundred dollars to spare) then get a banner ad on a bus, or a building, this will attract visitors!Whatever you do, Good Luck!