After the stress and difficulties of finally establishing your own business, it can be difficult to move things to the next phase. Growing and developing a business isn’t something that comes easily to many of us and inevitably, that is the reason many businesses fail.
1. Why is this so?
Occasionally outside factors play a part, however often it’s our mindset and bad habits that affect how our business excels or fails. It could be that the fear of failure is just too great. You could also say that it isn’t so much the fear of failure, but rather, the fear of success. This may sound like a contradiction, isn’t success the ultimate goal? However with success comes new perceived problems. Let’s have a look at 5 things that can hold you back and how to overcome them:
2. Changes to lifestyle.
With success comes more work. The fear is often that you will have less time to spend with family and friends due to business becoming more demanding. The truth is success can bring the opposite. A growing businessneeds staff, and if you invest in capable, hardworking employees you may find you have more free time than you anticipated.
3. Losing Control.
As your business grows, you can lose the ability to control every single thing. This is a factor of building your own business. There will be some things that you have no control over. By employing some strong team members that can support you, then this will help that process. Speaking of process, make sure you have a procedures manual for staff to follow so they have a guide for how you like things done.
To develop your business and become successful will just cost too much. There is some truth in that you do have to speculate to accumulate. However depending on the type of business you have, there are so many options available. Marketing and advertising has changed with the introduction of Social Media and when used correctly can be a cost effective way of promoting your business.
4. People’s Perceptions
Many entrepreneurs think that as they get more successful their friends will become jealous. Of course this is possible, there are individuals out there who don’t like it when others do well. However if people and friends do not want to celebrate your success with you, you have to ask yourself if they are the type of people you want to surround yourself with. Surround yourself with those you support and encourage you and build a positive circle of influence.
5. Unworthiness
You may not feel ‘worthy’ of such huge success. It’s an attitude many people have. By working on yourself and your mindset, you can banish these negative emotions and finally set yourself free of those negative thoughts.
There are many risks and fears associated with starting up your business, developing it, and making it a success. Here’s a little secret; the successful entrepreneurs are those who take fear and overcome it; they take a risk and face it head on; they take a failure and use it as part of a learning process. It’s not that they don’t experience the above, they just deal with it and hide it well.