Tag Archive for 'confidence'

Making fear a motivator, not an immobilizer

Anyone who has contemplated forsaking the perceived, if not real, security of employment to start a small business has come face-to-face with the fear of failure.

Indeed, countless would-be entrepreneurs have discontinued their self-employment pursuits for fear of losing too much—the risk being just too great.

But if you pushed through these concerns and actually became a business owner, you know that this isn’t the last time you’ll experience fear. And time will teach you that fear can actually be a good thing.

Not paralyzing fear — like when you’re ignorant of how to prevent or recover from danger. But rather the kind of fear that motivates you to take the steps to be aware, knowledgeable, capable, prepared, decisive and effective. You know – so you can seek excellence.

Remember these two things about fear: It’s a shape-shifter capable of appearing in many forms. And successful entrepreneurs learn how to recognize and deal with fear it in all of its shapes. Let’s take a look at some of the manifestations of fear, followed by what each one might sound like.

First on the list is the mother of all fear — unremitting, cold sweat, cotton mouth fear in its default entrepreneurial shape: “What if I can’t cut it as an owner?” Meet the others:

Terror: “What if I’m buying the wrong business?”

Fright: “What if I order all of this stuff and no one buys it?”

Panic: “What if my pricing for this bid is too high—or worse—too low?”

Dread: “I hate it when I have to fire an employee.”

Trepidation:  “I need a business loan; what if the bank turns me down?”

Anxiety: “How will I ever be able to compete with the Big Box competitors?”

Shock: “What do you mean our best customer signed a contract with a competitor?”

The best way to minimize—if not eliminate—these fears is through performance. But performance only happens when you use the fear-fighting tools: awareness, knowledge, experience, training, planning, preparedness, decisiveness and execution.

Armed with the fear-fighting tools, fear can become manageable and a productive stimulus that can actually create opportunity. But if you don’t use these tools, the fear you feel is probably well founded and giving you good advice.

The only way to make sure your fear is a motivator and not an immobilizer is through performance. And small business performance only happens when you’re armed with the fear-fighting tools.

Write this on a rock —

Fear-fighting tools help you replace fear with its archenemies: confidence and excellence.

Jim Blasingame is author of the award-winning book, The Age of the Customer: Prepare for the Moment of Relevance.

RESULTS: What’s your experience with consumer confidence during the holidays

The Question: Photo credit to Spokesman
Some surveys indicate improving consumer confidence going into the holidays. What’s your current experience?

8% - Definitely increased customer activity and sales.
22% - Increased customer activity with some increase sales
56% - Customer activity and sales are about the same so far
14% - Our customer activity and sales have decreased.

Jim’s Comments:
We’ve been polling small business owners about the economy about four times a year since the Great Recession ended, and we’ve never been able to get more than a third of our respondents to say their economy was doing good or great. As you can see, last week’s poll was no different. Only about 30% said things were somewhat or definitely improving, with the other 70% saying the economy they saw was about the same or worse.
With the results of the recent election changing the power dynamic in Washington, it will be interesting to see if the response to this question will change in a few months. One thing is for sure, with the GOP in control of Congress and a Democrat in the White House, it will now be clear who to blame about any political issues that might negatively impact the economy. With the lines drawn as they now are, there’s no place to hide.




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