Overcoming your Fears of Launching a Business | How-to Guides for running your business from Business.com

Have you ever had a dream, hobby or just plain crazy idea you wanted to turn into a business? Well you're not alone - some 10 million American adults are involved in the process of starting nearly six million potential new businesses at any given time, according to a national study of entrepreneurship by the Kauffman Foundation.

Taking the first step to making our dreams a reality can be pretty scary, sometimes even paralyzing! I can't begin to tell you how many great ideas I've had in my life that I never followed through on, only to experience 'shock and awe' to see somebody else execute them. After years of helping corporations achieve their visions as an employee, I finally got sick and tired of being sick and tired. I couldn't face placing all my energy and creativity into someone else's dreams any more. I had to manifest my own mission!

One thing I did learn from my past attempts is that I can't do it alone. I realized I needed to find support and feedback from others on the same path. I also needed to put some structures into place that would keep me moving in the right direction. So after a business seminar I attended, I grabbed three other female participants and we started meeting on a weekly basis to discuss our ideas. Just knowing that I'll be getting together with 'kindred spirits' motivates me to keep taking the actions I need to move closer to my goal.

Here's a few other suggestions I have found as I forge ahead on my quest.

Action Steps
The best contacts and resources to help you get it done

Join or start a club

When I started my group of women entrepreneurs it was just three of us. Now, four months later, I've got over 50 members. We talk "shop", exchange resources and get ideas from each other. If we have questions about how to do things there's usually someone that can answer them, or at least that shares our same concerns. There's strength in numbers!

I recommend: Whether you want to breed Dachshunds or start a bungee-jumping business, chances are there's a group out there for it - and if not, start one! Check out Meetup.com, Google Groups and Yahoo Groups. The best way to find out if you've chosen the right field for yourself is to meet other like-minded souls and ask tons of questions.

Attend a course

Often your fears may be based on lack of knowledge about the product or service you would like to bring to market. A night course on your topic of interest may be what you need to help you determine whether you're on track or out in left field.

I recommend: No matter how zany or unique your business idea is, The Learning Annex probably has a class on it. If not, also check the department of continuing education at your nearest college or university. Don't see anything you like? The University of Phoenix Online also has a wide variety of courses you can attend virtually.

Find a mentor

Do you ever wish you had someone that could show you the ropes, clear your doubts, champion your cause? Someone to help guide you, save you time and introduce you to contacts in your field? This may sound like an impossible order to fill but it happens all the time. Mentors share their knowledge and expertise with those that are starting out, and most of the time they do it for free. You just have to find them, but it's not as hard as it may seem.

I recommend: Join an association in your industry or your local chamber of commerce and ask if they have a mentoring program. Make a list of businesses you admire and find a way to meet their CEOs. Ask your friends or family if they know somebody in your field of interest. Then politely ask if you can invite them to lunch, or drinks, or even coffee. Another easier way is to visit the Small Business Administration or SCORE office in your area and sign up to speak with a counselor that has expertise in your area. BusinessWeek.com has a great article entitled "Why you need a mentor" with additional information that could help you find your own version of Donald Trump to help you out.

Get a business coach

When athletes are in training, they look to their coaches to come up with a game plan and a workout schedule to prepare them for competition. They need someone by their side to spot their weaknesses and point out their strengths. As entrepreneurs, we also need coaches, someone that will sit down with us and map out a plan and crack the whip when we slack off.

I recommend: Try the International Coach Federation or ask your friends for a referral.

Tips & Tactics
Helpful advice for making the most of this Guide

Make a list of all your fears: What's keeping you from taking action? Is your dream business too complicated? Does it take too much money? Are you afraid you don't have what it takes and that you'll fail? Or that you have no support? Don't hold back - put everything that comes to mind down in paper. The purpose of this exercise is to have clarity, to become aware of what you're afraid of. If you confront them a little bit at a time you may find that they're not as ominous as you thought. And don't face them alone - share them with a trusted friend or mentor.
Research your idea: Find a company that's doing something similar and see how they've done it. What could you offer that they can't? Go online or visit your local library. Find a business plan that's similar to what you want to do. But don't fret if you don't see one that fits exactly. My friend couldn't find one for the coaching services she wanted to provide so she used an event planning business plan as a guide instead, and it worked fine. Visit local establishments in your area of interest and talk to employees. Or go undercover - act as a client and ask questions to see exactly what they offer.
Walk don't run. By breaking down your actions into tiny steps they become more manageable. Start with the end goal and then work backwards. Let's say you want to build a website for your company. You would need to have spoken to at least 3 graphic designers to see which one you like best, and to get to those 3 you need to go online and check out many websites to see which style and format you like. That takes time so you could set aside maybe half a hour a day to do your research. See? Now that's doable!
Build emotional leverage: A friend of mine signed up for a training to walk on fire right before starting her business. She was shaking like a leaf before stepping into the burning coals but once she did it, she felt invincible, like she could conquer the world! Want a less extreme version? Find 3 or 4 simple tasks that you can achieve successfully before taking actions for your business. For example, make your bed, get rid of garbage or go through your mail. That sense of accomplishment will give you the lift you need to tackle the scary stuff.
Let go your perfectionism: It takes time to learn something new, and making mistakes is normal - it's part of the process. Little children couldn't care less if they fall when they're trying to take their first steps. They get right back up and try again until they succeed. And if they can do it, so can you! "Success is just a string of failures".

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