“Fear of failure”, it is not only a sentence, but a major reason behind people not following their dreams or passion, whether it is in entrepreneurship, starting your business, choosing a career or investing money & time. Every one has fear of failure, but only few of them knows how to deal with it and overcome.
” It is said that every 3 out of 4 people wants to start their business or be an entrepreneur, but majority of them don’t even try. The reason, Fear of Failure. “
So, in this post we will be talking about what Fear of Failure exactly means and how to overcome it, in its most common term.
Fear Of Failure : A General Definition
Fear of failure, also known as ‘atychiphobia’, is something that holds you back from living a desired life or doing something you actually want.
It makes you somewhat conservative in terms of taking risks and be safety minded.
And eventually, we become afraid of trying new things and be cautious in things we do or want to do. We can also define it as risk paralysis.
For Entrepreneurs & Businesses :
Every one wants to start their own thing these days. But only few dare to even start, irrespective of whether they failed or succeed.
There are thousands of stories out there of entrepreneurs who failed multiple times before they made it big.
Warren Buffet was rejected by Harvard University, Jack Ma of Alibaba.com failed multiple times.
Steve Jobs was fired from his own company Apple Inc, then started NEXT which eventually merged with Apple Inc later.
Walt Disney fired from a newspaper and later build his own empire, today famously known as Disney Land.
But what common in all these stories is that they know how to deal with fear of failure and overcome it.
We will be discussing about this later on but before that, lets discuss the major causes of fear of failure.
What Causes Fear Of Failure: The Roots
Failure is associated with each one of us and we all must have experienced fear of failure at some point of time in our life, but the definition is somewhat different for each one of us altogether.
The root cause of fear of failure varies from person to person, so does the definition of failure.
For someone, not investing money in shares markets could be a cause, for someone, not giving an entrance exam could be a cause due to poor performance previously.
For someone, failing in first attempt of starting business could be a set back for re-attempting. For someone, appearing for a job interview could be a fear of failure due to previous failed attempts. For someone, what other people think about him or her might be a great cause of fear of failure.
So, generally, fear of failure is due to the ungrateful experiences that we go through in past which we fear of experiencing them again and loosing.
Some of the common signs that indicate you may be suffering from fear of failure :
- Lower self confident or self esteem – When you are afraid of trying things which you don’t know or have perfection at, you are not confident enough.
- Comfort Zone – Most common reason, people don’t want to move out of their comfort zone as they fear of trying things which they don’t know or challenging.
- Procrastination or Anxiety – Last minutes anxiety or a habit of procrastination of doing something that challenges you.
- Ignoring challenges – You tends to ignore challenges in your tasks that can eventually help you learn and grow.
How to overcome fear of failure:
Can i overcome fear of failure ? How to deal with it in longer run?. These are some of the common question that arises as we grow and came across the challenges of this humane society.
So, lets try to find out the sure shot answers that would help you in overcoming this fear of failure in longer run.
1 – Analyse and Calculate the associated risks and Outcomes : Whenever you try something new, there is always some risks associate with it. You just need to analyse those risks and potential outcome. Most people fear the unknown risk as they don’t actually analyse things.
2 – Read success stories of great people – As mentioned earlier, you can read success stories of people who overcome challenges & failure and succeed.
Some great examples are Jack MA, Steve Jobs, Warren Buffet, Michael Jordan,Walt Disney and many more. Watch their interviews and inculcate a sense of motivation in you.
3 – Think Positively : ‘I can’t Do It’ is one of the common obstacle among people which hold them back. This came out as a negative mindset. Try to list down the positive impact of new challenges you face.
When you understand the positives, you encourage yourself. ‘I Can Do It’ or ‘Nothing Is Impossible’ are the words. Yeah!.
4 – Know the worst case scenario : When you fail in something that you never tried before. There are some unexpected situations or unknown outcomes that you face which impact you negatively and make you afraid of trying again.
Knowing and analyzing the worst case scenarios would help you better understand the unexpected outcomes and plan accordingly.
5 – Have A Backup Plan : Most people think that having a Plan B eventually makes you put less than required efforts on Plan A and cause distraction.
But, having a plan B is always a smart move when you are ready to take risk. Even when you fail, having a plan B helps you reduce the impact of failure, mentally and financially.
6 – Learn From Failure : Learning from your failures reduces your risks of failing again and eventually you win. Learning from your failure is one of the key traits of successful entrepreneurs and startup founders.
Failures can be blessing in disguise. If you want to know more on how you to win even after failing, you can read my post ‘Startups May Fail, But Entrepreneurs NOT’
Final Thoughts :
If you really want to stand out of crowd, it is imperative that you know how to deal with fear of failure.
Almost everyone suffers from this fear, but only those wins who crack the code, Irrespective of any profession or industry, wins the game.
Now as we learn what is Fear Of Failure, how to know if you have one and how to overcome it.
I hope this post have somewhat helped you in understanding your fear of failure and also some ways of how to over come it.
The comment section is yours now, please do mention your fear of failure and how you planning to deal with it, and give a Cheers if you like this post.
Stay tuned. Cheers!