Overcoming Fear of Failure and Embracing Entrepreneurship
I recently introduced a new weekly series called Thriving Thursdays with Huda Hamid. Here, I go live on Instagram on Thursdays, 6PM GMT+08, to discuss a topic to overcome challenges relating to taking that first plunge into the world of entrepreneurship.
Kicking off the first episode of this weekly series, I decided to focus on this important topic:
Overcoming Fear of Failure and Embracing Entrepreneurship
You’re here today because you’re curious. You may have followed me for quite sometime and just haven’t gotten around to actually start your business online.
If this sounds like you, I want to ask you a question: Why is that so?
Understanding the Fear of Failure
Entering into the unknown is unfamiliar and you’re bound to have fears and doubts. All entrepreneurs experience that in the beginning too. I’ve spent over 400-hours speaking to women in the past 2 years about starting their own business online. When I ask why they haven’t started, the most common fear I hear is the fear of failure.
Does this sound familiar to you?
Fear is a normal part of the entrepreneurial journey, and it can be overcome.
Fear is the gap between what’s known and the unknown - that’s why it’s scary. But, we can fill that gap with knowledge and experience, which leads me to my next point.
Watch the full replay below
Reframing Failure as Learning Opportunities
To overcome the fear of failure, reframe failure as a learning opportunity. When we fail, we don’t sit and cry about it. We reflect, stack those experiences gained and grow. Do you remember how it was like when you learnt something as a child - or maybe now that you’re a parent, do you witness how resilient your child is?
What are some ways your children show resilience in life?
When children fall down as they learn to walk, yes, they may cry a little. But they reflect on the mistake they made, learn from it and grow through that experience.
We’re no different just because we’ve become adults. We still go through the same life challenges, reflect, gain insights and grow through that journey.
You can of course learn from other people’s mistakes so you can minimise your learning curve. That’s what I share in the Profitable Fempreneur Program - my system that works for many women entrepreneurs. It was designed through the painful and expensive mistakes I’ve gone through in building my first business, and especially in my video production.
You can definitely learn from them.
Set Realistic Expectations
Another way we can overcome fear of failure is to set realistic expectations.
No one says you have to be the next Vivy Yusof or Charles Wong & Keith Looi overnight. No one also says you need to be an overnight millionaire or open a factory overnight.
Set realistic expectations based on your current journey in life. If you’re still juggling a full-time job while building your business on the side, you can only devote 2-hours a way to your business. So, that means there’s a limit to what you can accomplish.
Be realistic and set your expectations to hit goals that you know you can accomplish. Don’t force yourself to fit into a mould that you think you need to be in.
What’s one goal you have in your business or life today?
CELEBRATE every win
CELEBRATE the wins along the way, no matter how small they are. And celebration doesn’t have to be fancy. It can be a simple walk to the park, dancing to your favourite song or even just having your favourite dessert.
What is something you enjoy doing which you can use to celebrate your wins?
Set achievable and realistic goals; and celebrate the wins no matter how small.
Taking Action despite Fear
Even though it can seem scary at first, take massive action anyway!
Root to your BIG WHY. Why do you do what you do? Why are you on this journey?
Despite the fear, you know that getting a mentor will cut your learning curve and make you take your business seriously. Do it anyway. I tell you ladies, I invested $10K into a coach because I needed accountability. That $10K was a great investment in making sure I do what I need, despite the fear, to achieve my goals. Was I afraid to spend that $10K? Heck yeah. But I knew it’s an investment into my growth. So, I did it - even when it’s scary.
I can always make back my money, but I cannot lose sight of my big why which is to spend more time with my family doing the things we love. I tell you, time passes by very fast. Before you know it, you’ve been married for 8 years. Haha, you get what I mean!
Let’s be honest with each other today. What’s something you want to do in life or business but you’re holding yourself back because of fear? Share with me in the comments below.
Despite the fear, you know that being more visible on social media is going to help you be seen and heard. So, do it - even if it’s scary at first. You’ll get the hang of it!
And if a coach and mentor is what you need, I’m here for you. Book a call with me here I’ll share with you how I can support your journey into entrepreneurship.
Overcoming the fear of failure and embracing entrepreneurship is all about our mental resilience and strength.
Fear is the gap between what’s known and unknown. You can fill that gap with knowledge and experience. So, keep on learning.
Reframe your mind to see that failure is a learning experience. The mistakes we make help shape us to be stronger individuals.
Set realistic expectations of what we want our business and life to look like. We don’t have to chase to catch up to our role models. We can just go through our journey at our own time.
Take action despite our fear. Root ourselves to our BIG WHY, and do the things that’s going to lead to our BIG WHY and GOALS, even when they are scary.
