Like your first kiss, like buying your first car, like any of the other major firsts in your life, starting your first business can be terrifying. And just like many of the other "firsts" in your life, it can be the source of many rewards.
People vary in their apprehension of many things including starting a business. I'm sure you've seen those who seem to jump into everything, while others methodically check out every detail before making a decision. There are those who talk about "how nice it would be to work for myself" without ever looking seriously at any business. On the contrary, most of us also know someone who seemed to fit into one of these more "careful" categories, but one day did ask the girl out on a date, and by the end of the night even kissed her! Though most of us can tend to act in a certain way, few are bound to carry those traits into every situation. With most people there is some amount of fluidity in our behavior that can at times go against our normal tendencies.
So what can nudge some of us who are normally more cautious to start the business that we've always dreamed about? What can reduce our anxieties enough to actually "take the plunge?"
I think one of the most effective methods is to find a mentor who has a certain amount of success in the pursuit that we are considering. Sometimes just knowing that someone you trust is there can bring a tremendous amount of confidence in pressing forward. That person can not only be a source of information and inspiration but can be a source of accountability. That person can set up a schedule of baby steps that can walk us through to our goal. When I first started my bird business breeding exotic macaws, I had a very experienced breeder working with me. I would not have even considered this kind of business without such a mentor. It was a great comfort that any aspect of the operation from feeding the babies, to marketing, could be discussed with my mentor and friend. Because I saw that what he did worked I always knew he would give me sound advice.
If you really want to bring down the anxiety level, get a group of people to all engage in the same kind of project at the same time. You can all work with a mentor and all support one another by regularly meeting to discuss what has worked and what hasn't. If you can't find people near you interested in this, I think it would be very easy to find such people online. A Google group could be started for people who are all starting the same kind of business. It should not be difficult to find an expert who would be willing to act as a mentor to the group. Such a person might be entice by free ads on your websites, or it may even be a retired "expert" who would love to work with a group of young folks to pass on his knowledge. This can not only reduce the anxiety but can be a lot of fun too. I've heard of investment clubs that work this way but I think it has been greatly under-utilized by beginning entrepreneurs.
Another way to reduce the anxiety of starting a new business is to have a healthy perspective on failure. None of us like to fail but most great people in history have failed at various endeavors. A number of biographies of Abraham Lincoln mention that he failed in a many endeavors including a law practice, failed bids for the Senate, and in various business pursuits before becoming our President. It helps to realize that it is not a statement about yourself that a business you pursued has failed. Most successful entrepreneurs became successful in their business by getting knocked down, getting back up, getting knocked down again; and keeping that up until what they tried worked. We don't have to view failure as an acceptable option, but neither do we have to be devastated when it occurs.
Some may argue that the fear of failure isn't so much emotional as it is a practical matter of wasting resources that need to be allocated to basic living expenses. A person whose family is relying on those resources may have to invest less, bring on a partner for awhile, or choose a business that has less risk than other businesses. Remember too that by doing nothing, one can never taste any of the rewards of a successful business. Having a healthy perspective on what it means to fail can reduce the anxiety of starting a new business and probably increases it's chance of success. And when you are successful in your enterprise you can be an inspiration to others and perhaps a mentor as well!
A resource that may be very helpful as you start your own business is called 30 Businesses [http://www.winesorbetcafe.com/30BusinessIdeas.html]! This is a special report detailing 30 businesses that are easy to start, and require little money up front. Many of these will start paying fairly quickly. I am offering this download on my wine sorbet website. Click on the tab that says "30 Businesses." Most of these businesses I have become familiar with through talking to the people that run them. A few I have run myself. The discussion of each business is designed to spark other ideas as well. I kept the cost low so most people can afford it ($4.95). There are so many good ideas and great information in this report that will help any entrepreneur interested in starting a new business.
About Mike:
I love small business. I love it so much because it represents freedom to me. I think it is the most wonderful thing to see someone create a thriving business from just an idea. To see that business begin to give that person and their family options they never would have had before is the most exciting thing. To see the reflection of that person in the way they have structured their business and in the way they run it is fascinating.
I have started and run a number of small businesses over the years. Our family has recently started a new business selling an awesome, great tasting, dessert called Wine Sorbet. I mentioned WineSorbetCafe.
