As business owners we compare our truth, our inside information, with the social media, website version of other businesses. To overcome this fear…
Tell yourself the truth. Get honest with yourself. Identify your faulty thinking and highlight the truth. It can help to say it out loud to yourself or someone you trust.
Ask for feedback from people you trust. We often get bogged down and are not able to see the full truth – our filter is dirty. Getting the truth from others can help to right size the fear.
Acknowledge you’re not the only one who feels this way. I have not met a highly successful person yet who has not felt this way at some point.
Here’s the problem & the solution:
Lack of knowledge. I’m afraid I don’t really know what I’m doing. The truth is if we had waited til we ‘knew’ it all we would have never started a business. To overcome this fear…
Write a list of things you want to know and things that if you knew would make you feel more confident.
Get the knowledge you need. Get a mentor, take a class or watch a video.
Join an industry association and get involved. Rubbing shoulders with other experts in your industry will teach you more than any article or podcast ever could.
Missing the ‘BIG’ opportunity. Many owners fear there is some BIG thing out there they might miss. This fear can lead to overanalyzing our competitors and spending too much time looking at the industry trying to figure out what’s next. To overcome this fear…
Tell yourself the truth – there will never be only ONE opportunity.
Set aside time on a quarterly or bi-annual basis to intentionally look at your competitors and other BIG opportunities that may be popping up in your industry.
Keep an idea file. Put all great ideas into a folder and review when you do your annual planning.
Getting sued or some other catastrophe happening. We cannot predict the future and bad things do happen. Yet most often we are worrying about events that never happen. If we manage our business well, have good insurance and hold true to our values we most likely won’t have some major catastrophe. And if the crap hits the fan, we’ll deal with it. To overcome this fear…
Get insurance and all the licensing you need.
Stay connected to your industry associations. These groups share best practices and horror stories.
Think about the worst case, the best case and then the most likely. Let go of the best and worst and focus on the most probable.
Here’s a BONUS: Competition. The fear that others may take my clients away or do things better than I do is real. Competitors exist. There are those already in the market or those who will enter. We should be aware of them and what they’re doing but focusing on them does no good. To overcome this fear…
Be the best you can be. Focus on doing what you do well and stay connected to your customers.
Limit the amount of time you spend focusing on your competitors. A competitive analysis once a year is helpful. Monitoring them on social can be useful. But focusing on them to intently is not helpful. Focus on your own success.
Celebrate their successes. If your competitors are excelling give them kudos.
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