Entrepreneurial fear
 

Hi,

i am 24 years old and have been working for about 3 years. i am beginning to be convinced that working for people is not a way i want to go through my life and have been thinking to go for the entrepreneurial path.

However, i have a little problem or can i say big problem. I am kind of scared. It seems so uncertain.

i am writing in this forum to seek help to people who have feared before when starting out. i want to know how you guys overcome it and what did you fear.

Hope to hear your advice, opinion and story.. Thanks

Linda

There's no way to gauge certainty
 

Hi,

Employees get in fatal car wrecks going to work or coming home from work all the time. And people who put their fates totally in the hands of luck regularly make fortunes.

On the other hand, entrepreneurs often fail and lose everything while employees enjoy a secure life.

There's no way to accurately predict risk in advance--in my opinion.

In the 1996 time frame I was where you are now. Michael Ross and others probably remember my messages then in which I preached caution while they were saying "do something." I'm now in the "do something" camp, personally; I've remade myself and learned a hell of a lot about business since 1996.

Hope this message was somehow helpful.

best,

- Boyd

Re: There's no way to gauge certainty
 

Hi, Linda,

I could sit here and give you a bunch of pros and cons about various options such as job vs work for yourself but that wouldn't really be helpful.

Instead let me share with you some wisdom I've gained over the years. No matter which path, or paths, you take in life, there will be risks. You can work for someone else and be within a few months of having your retirement funds vested and then the company closes and your retirement plans are shattered.

You can work for yourself and have huge success and then a downturn in the economy has you wondering where the car payment is going to come from.

Basically I'm saying that no matter what direction you go there will be risks. Accept that. Then evaluate the best case and worst case scenarios and decide which ones you'd rather deal with if need be.

The same people who wouldn't bet on the horses will go out and place hard won funds into the hands of an investment banker and gamble on returns. Both are gambling but one doesn't feel like it and one does to any individual. The horse bettor says 'It's just entertainment money I'd spend anyway', the investor says 'I'd rather not lose but if I win the potential win is huge'.

Look at the pros and cons on each choice, then number them 1-5 depending upon how important each item is to you. If something is absolutely critical, circle it. Total each side, evaluate the scores, and end up going with your hunches...because that's what you wanted to do all along. You'll make the same decision but you'll feel justified in acting on it.

Bottom line: it doesn't really matter...just DO SOMETHING. If it works for you, fine. If not, just begin again. Behind every successful person there is a line of 'not quite', 'almost', and 'what was I thinking of' experiences.

Important thing is: don't be afraid to strike off on your own or work in a traditional work environment. When you can look at the alternative choice and be happy you are where you are, your search is over and your decision has been made, at least until such time as your thinking or circumstances change.

Hope this makes some sense and is helpful.

Sandi Bowman




Quality ebooks and resources for home and business.

Re: Entrepreneurial fear - Limit your Risk
 

Hello Linda,

I know where you are coming from. I was in a similar situation. My career was with the military. I was in the Active Guard/Reserve Program.

As a Spec5, my family of 5 was eligible for food stamps. My wife was home with three children by choice. I refused to apply for food stamps, but had no immediate hope of promotion, and 13 years to go to retirement.

I looked for something I could work on the side after hours. I didn't want a second job, and Al Gore hadn't got around to inventing the internet back then.

I started looking for an alternate source of income, that would allow me to stay in the Guard and yet generate real income.

I had already tried one MLM with no real profits to speak of.

I finally spotted an ad about starting my own business, selling imprinted advertising items, ink pens, calendars, coffee mugs, etc.

I committed myself to spending 8 to 10 hours each week making sales calls on the way home. It wasn't easy starting a new venture in a city where I knew only a few people, and only 1 potential customer.

I was a slow started, but within 8 months, I was earning enough for us to get a second vehicle. Then I could leave my catalogs and samples in my work car and always be ready to make cold calls.

I hated cold calling then, and I rarely make any today. But after 18 years, I get a lot of leads and have many contacts through the Chamber of Commerce.

After 2 years part time, my sales income was about $5,000 gross. My situation with the Guard changed and I left with no retirement and little in savings.

I ended up taking another full time job, but this one allowed me to start my sales at 3:30 which gave me more business hours to work with.

After 6 months, the company I sold for as an independent agent passed some accounts to me from an agent they lost.

I went full time in July '87, and have remained self-employed since then.

I'm much better off, because I had started my own business on a part-time basis while I still had the full-time job and benefits.

With the internet, that option is availble to your and others today.

So looks for ways to start out while reducing your risks.

Good luck in finding your niche.

Dennis Bevers




My promotional advertising business that keeps me from having to get a job!

Re: Entrepreneurial fear
 

Hi Linda, Yes business ownership can be scary
but the only way to get rid of the fear of doing something is
to go out and do it!

Have you read the book "Feel The Fear And Do It Anyway" by Susan Jeffers ?

Dynamic techniques for turning fear, indecision, and anger into power, action, and love.

Steve Ski

Re: Entrepreneurial fear
 

Hi Linda,

You don't have to take the plunge right away, you can start a home-based business while holding on to a full time job. After you've started generating a good profit you can then quit your job. I started out this way and I believe this approach can help you overcome fear.

Clive


You Can Clone any Script, Website or Program Here

Start by making a list of your assets...
 

Being 21 when you started work, I would assume you have some higher education.

Therefore, start by making a list of your assets, skills, experiences, and education.

Once you have this list organized, start looking for opportunities that fit into your list.

The one below may be something worth looking into... Then again, it may not be your cup of tea.




Start Your Own Business Immediately.

Re: Entrepreneurial fear
 

For any area I'm fearful and want to walk through it...

I write my fears down till I dont' have any more to list.

I then see if my fears can be catagorized (most times they can and I put them in catagory order).

Then I find at least 5 sometimes more solutions to each fear. If I can't find solutions, I use the forums, ask my friends, etc. for suggestions.

I then get into doing the solutions and the fears subside.

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