5 Ways to Make Entrepreneurship Less Scary

Starting Your Own Business Can Be Terrifying, But With The Right Steps You Can Do It!

It’s Halloween today. Earlier this week I made the trip to the grocery store to stock up on candy, ensuring that all of the goblins and monsters that show up at my door, won’t walk away disappointed. Combing each aisle, I passed dozens of the costumes, fake blood, and all things “scary”. It got me thinking about what truly terrifies me. Funny enough, I have to say that one of the scariest times of my life has to be when I decided to take the plunge into entrepreneurship.

Starting your own business can be scary for a variety of reasons:

  • Fear of the unknown
  • Financial responsibilities
  • Outside social pressure to succeed

The key to overcoming these obstacles is to be strategic in your approach. I’ve outlined 5 things to keep in mind:

1.) Start with a plan.

Every business needs a plan. A formalized business plan is a great way to ensure that you are thinking through every detail of the immediate needs as well as long term considerations.

2.) Get Organized. 

Keep your conversations and finances well documented.

Plan out your days and create to-do lists based off of your goals.

3.) Know who you are. 

By “you” I’m referring to your brand. Who is the brand? Who is the audience? 

Not only will this help you make decisions, but it will also help you explain your vision to others. When you can communicate a clear vision, people are more likely to buy into the idea and support it.

4.) Seek help.

While it has been done, it isn’t always wise to go into business as a party of one... relying solely on your own finances, availability, and energy. Ask yourself: “Are there people that may be a resource to me? Could I form a partnership?”

Look into grants, investors, and loans for funding. Depleting your own bank account not only comes with a lot of risks, but also places restraints on how much you can invest up front. Depending on the type of business that you are creating, you may have a lot of upfront costs for expenses like equipment, marketing or merchandise.

5.) Take care of yourself.

 No business gets built overnight. You’ll face stress and pressures from a million different directions, and from from sources that you cannot control. The one thing you can control is your internal state of being. Stay calm and don’t overwork yourself to the point of exhaustion.