Starting a Business? These Fears Are Common, but Here Are Some Ways You Can Overcome Them
It’s not every day that you get the chance to put up a business. For some, this is the ultimate dream, but to others, it’s a typical financial move that makes sense. However, they may have one thing in common: fears. Starting a venture is not easy and there’s no certainty, which is why it is usual for us to feel scared in realizing our ideas. GMM Nonstick Coatings CEO Ravin Gandhi bared the fears he had in 2007 and how he overcame his fears:
… of Being Positive
It’s easy to imagine adverse things happening to your business, but remember, there are two things that could happen – either it goes awry or it becomes successful. Don’t be discouraged by countless stories of failed companies or startups and remember that each entrepreneur creates their own path to success.
Ravin explained the value of optimism even when the brand has flourished. Whenever anxiety cripples in just before a very important meeting, he dreams and imagines doing the job passionately. It is crucial for you to have a positive mindset because doing the otherwise may hinder you from doing the necessary steps for the company.
…of the Unknown
In most business books for dummies, you’ll read about experts saying there is no guarantee that your company will become successful. They’re not psychics to know about your fate. Even the biggest companies out there – ahem, WeWork – could end up in debts in a blink of an eye, while a small brand can suddenly rise to fame in an instant. Ravin suggests embracing this inevitability.
Whenever he is stressed, he would send himself an e-mail coming from another party, business, or company GMM was doing business with. The message would reveal a huge let-down for him and at that moment, he would decide if he could take the consequence. The CEO explained that by doing this, you become confident, knowing no one knows what the future holds.
…of The Other Companies
One of the most natural things for us to do as humans is to compare ourselves with others, sometimes doing so unhealthily. It is easy to be scared of competitors that are well-established and are already worth millions, but it pays to persevere and stay relentless. In doing so, you need to find their weakest points and cultivate this so you would have a unique proposition to the market.
Ravin entered the scene with already successful competitors dominating the industry and he had experienced the being turned down in meetings. However, he was determined to make things work. He narrated that once, he went to a client who wasn’t interested in his company. He didn’t set up an appointment nor was he discouraged by the disinterest of the manager as he spoke, but this person became his client the following year.
…of Spending for The Dream Team
It is difficult to turn business to success, which is why you need other people. However, you must get the right employees on board, which usually is pricey. They are wise investments that can bring in money for the company.
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