Other New Business Opportunity Risks

30 01 2010

Last week we talked about risk taking for a new business opportunity.  We covered various fears of starting a new business opportunity, like how to overcome basic fear and then specifically the fear of failure.  This week we are going to continue the discussion by reviewing a few more risks and how to deal with them. 

Many people are afraid to start a new business opportunity because they may be afraid that their friends and family think they are nuts.  Especially in this current economy, if you told your close friend that you wanted to start-up a new business, they will probably tell you it is a really bad time to start.  Depending on your business opportunity choice, their advice may be well placed.  If not, some people would still not move forward on the new opportunity because they are afraid that their friends would reject them because they are following up on a new idea.  We all want to be successful, and we want people to accept us.  If you really, really want to be successful, you cannot put too much emphasis on having people accept us in the inital phase of the new business.  It is those new business people who find the cutting-edge niche that nobody thought about.  Those people are not as concerned about being accepted for themselves or their ideas, they are much more focused on making sure their idea becomes successful.  You must take risks to be successful, and one of those risks is that people may not like your idea or what you want to do.  If you think about it, not everyone you are going to meet is going to like or accept you anyway.  Get over it.  Move on to what you feel is important, like being successful.  If you have true friends, they will accept you for who you are, not because you may have come up with some half-baked idea.  As we have said before, if you don’t take risks you will never know if you can be successful. 

In a nutshell, if you have an idea for a business opportunity, do not be afraid to start on it if you are afraid of being rejected by friends and family.  You ay want to consider their advice if they have experience in the field that you are interested in, otherwise, do your research, talk to experts and go ahead if all of your independent information is positive.  Do not be afraid of being rejected by some people, they may reject you no matter what you do or don’t do.  Be confident in yourself and be confident in your business success.  Everything else will fall into place. 

The last fear I would like to cover this week is the fear of loss.  How many people do you know are afraid to try something new because they are afraid they will lose?  Successful people focus on winning, not focus on losing.  Successful people will look at an opportunity and plan on winning instead of being afraid of losing.  If you start out on a project already afraid you will lose, then you really will lose.  Risk taking is about assuming you are going to win.  Sometimes you will lose, but more often you will probably win.  If you start the business with the expectation that you are going to lose, then the chances of success are very slim indeed.  If you want to win, you must plan to win.  You don’t see any NFL Football teams heading towards the Superbowl afraid that they will lose.  Everything you hear from both teams (and you KNOW one of those teams WILL LOSE) is that their team will WIN the Superbowl.  No team is ever going to be successful if they plan on losing.  So, treat your business opportunity like you were a team heading towards the Superbowl.  Remember, of the two teams going to the Superbowl, one will lose.  But if they were afraid to lose before they even started, there really won’t be a game. 

To summarize, calculate your risks, but do not be afraid to be rejected and do not be afraid to lose.  If, after all of your research you find that a particular business opportunity seems right for you, then go for it.  You don’t want to look back on your life and wonder what would have happened if you had taken those risks.  Go for it and see how well you succeed.

Until next week…

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One response

7 02 2010
Marsha Petrie Sue

Steve – you are right on. Fear is False Evidence Appearing Real and we manifest the worst possible catastrophic outcomes. We always have three choices: Take it. Leave it. Change it.

Thanks for the great post for your thoughtful blog.

Cheers, Marsha

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