Whether you’re an entrepreneur, a manager, or an employee, chances are you’ve faced the problem of fear of failure in business at least once.
And this is not surprising, because today, social networks are more widespread than ever, from which you hear so much about the successes and achievements of other people. This makes failure seem like an even more frightening word, especially when it comes to the business world.
How To Overcome The Fear Of Failure In Business: 6 Key Tips
Yes, starting a business can be a daunting task, and one of the biggest fears that entrepreneurs face is the fear of failure. While it’s natural to feel anxious about the possibility of not succeeding, it’s important not to let this fear hold you back.
Luckily, there are some key strategies that can help you take a deep breath and look at failure as something less daunting.
1. Change your mindset
The first step to overcoming the fear of failure is to change your mindset. Instead of viewing failure as a negative outcome, try to see it as a learning experience. Failure can help you identify areas in which you need to improve and can lead to new opportunities for growth. By reframing your perception of failure, you can reduce the anxiety and stress associated with it.
In addition, a certain amount of failure is normal. After all, if you’re not failing, you’re probably not trying to achieve big goals by staying in your comfort zone.
Although it can be humbling at times, failure can actually be an indicator that you are on the right path to bigger and better things.
By changing your mindset, you can turn failure into a natural part of the process rather than the foundation of your success.
2. Set realistic goals
Setting realistic goals can help you avoid feeling the overwhelming pressure that often accompanies fear of failure. Instead of focusing on long-term goals, break them down into smaller, achievable steps. Celebrate every small success along the way and use it as motivation to keep moving forward.
Take action.
After all, one of the best ways to overcome the fear of failure is to take action. Procrastination and inactivity can often contribute to feelings of anxiety and stress. Take small steps towards your goals and don’t be afraid to ask for help or advice if you need it. The more you take action, the more confident you will become.
3. Anticipate potential obstacles
One of the things that makes the fear of failure so paralyzing is the element of uncertainty. Not knowing the potential setbacks and obstacles can derail you and ruin your entire initiative. That’s why it’s so helpful to visualize any potential obstacles to success.
One 2011 study published in the Journal of Experimental Social Psychology asked two different groups of students to write down what they expected to happen next week.
Research from 2001 showed that the best results are achieved when we balance positive thinking with visualizing future obstacles and difficulties we will face.
Failure is often a frightening thing that we cannot embrace, we push it to the dark corners of our minds as if our neglect to make eye contact with its potential will protect us.
However, by taking a little time to think through any possible obstacles you may face, you can actually reduce the amount of uncertainty and therefore the level of failure-related stress experience, as well as increase your chances of doing a better job from the start.
4. Learn from failure
When you fail, it’s important to take the time to reflect on what went wrong and what you can learn from the experience. Use the lessons learned to make changes and improve your business. Remember that failure is not the end, but rather a stepping stone to success.
5. Don’t focus on perfection
By setting the bar insanely high, you leave yourself plenty of room for failure. In this case, even if at least one thing goes wrong, you will be tempted to write it off as an incredibly big failure.
You make things much more complicated and worrisome than they really are. And while in some cases, high expectations can motivate you, if your own desire for absolute perfection is making you tear your hair out, it might be time to lower the bar a bit and give yourself some much-needed space.
So make sure you are as realistic and demanding as possible.
6. Imagine what inactivity gives you
Do you know what is often much more frightening than failure? That’s right, it’s inaction.
Being stuck where you are because you are too afraid to do something different.
In those moments when you’re convinced that you can’t do something because you’re too afraid of failure, consider whether the threat of failure is actually scarier than inaction.
Sure, starting your dream business is scary enough. But it’s not as scary as staying in that horrible job you hate for the rest of your life and not trying to make your dream come true.
Conclusion
Apply these 6 strategies and you will get rid of the fear of failure and can give yourself the confidence you need to achieve those big goals on your list.
