The fear of failure in entrepreneurship

The fear of failure in entrepreneurship

Factors that help overcome the fear of failure

If several progress factors relevant to an entrepreneur were systematized from the perspective of fear of failure, they would be:

  • Curiosity – It is organized in the light of questions that are often not answered by the usual means of employment. This very curiosity often leads us to a series of opportunities. In other words, curiosity is stronger than fear of failure.
  • Failure is an „accounting asset” – The desire for knowledge and answers gives us the necessary tools not only to understand how to better manage the business, but also what to avoid. Essentially, until they become tangible, many of the results of our thinking lie in the head. Entrepreneurs become more valuable with each failure, bringing them closer to success.
  • Failure does not mean abandonment – Often the fear of failure is rooted in the fear that entrepreneurial initiative may be perceived as a quitting. If you lost a match after you put your energy in an initiative and you did everything you could do at that time, you will gain more respect than those who have never tried.
  • Failure strengthens – No one wants to fail. It simply happens. Awareness that this is just a step forward and that you have learned something new will make you a more effective and more confident entrepreneur in the future.
  • Tolerance to failure – Willingness to risk is different from the desire to risk. The former refers to capital and is quantifiable. The second relates to motivation and is subjective. Entrepreneurs are not necessarily willing to risk more, but they represent the risk differently.

In conclusion

Fear of failure in entrepreneurship is actually about fear of failure in general. This socially shaped natural feeling finds a remedy through the need for accomplishment, personal ownership of the results, the courage to contradict the social norms, the confidence that you can decide your own prosperity, your attention to the pursuit of objectives and the optimism to overcome the imminent obstacles and make judgments based on subjective factors positively oriented.

Foto: Pixabay

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