Being an entrepreneur is a dream job for everyone. Mostly because it is not a job; you are your own boss. However, that will require a lot of perseverance, determination, and not to mention long sleepless nights.
It is already jarring to leave your job. Something which offered security for your finances and then giving up all your savings to open a business. It is common to feel extremely anxious.
This is what we call entrepreneur anxiety. So, what are you going to do about it? Do not give in to it because that would only make things difficult. In this excerpt below, we will be talking about why extenders are dealing with it and how you can deal with it.
Reasons For Entrepreneur Anxiety
With the increase in competition as well as the hustle culture, things could be extremely difficult, and every entrepreneur suffers from some kind of anxiety. Here is why-
1. The Current Pandemic
The pandemic has taught us a few things. One of them is the preparation for the unexpected. However, this has led to a deep-seated fear among entrepreneurs. Especially the one who was just starting and could not afford the amount of loss that the pandemic brought.
It is the anxiety of not knowing what is going to happen, which can be pretty jarring when something unexpected brings a flair for a negative outcome.
2. The High Competition
High competition is a common problem for many. No matter how unique their niche is, it is not the creativity that steers all profit today. There are other factors, like digital marketing and online presence, which increase the chance of niche superiority.
If an entrepreneur is not very wary of the different layers of digital marketing, it is almost impossible for them to know which marketing which be helpful for them. On top of that, if they are using a method and constantly failing at it, that chain of disappointment might make them anxious, thinking they are already failing.
This is why you should ask for help from the beginning. Plus, offer things that your competitors are not. For example, have you introduced Cryptocurrency yet? Then why not? It is definitely something new and something your customers will appreciate. Begin with your own Crypto trading from bitcoin trader.
3. Fear Of Taking Risks
The ultimate fear has held many entrepreneurs from growth. They are scared of taking risks. Yes, sometimes risks can backfire, but often times when you are in a business, the risk is important for the purpose of growth.
The reality is that risks might bring failures, but whenever you take risks, you have to analyze the highs and lows of that risk and accordingly prepare for it. Risks always have to be calculated, or else in times of failure, you will be lost.
The key is to always learn from your failures and do better next time. If you are not taking risks, how will you understand what is working and what might not?
4. Fear Of Not Being Good Enough
As an entrepreneur, a healthy amount of self-doubt can actually take you further, but it is difficult when this self-doubt crosses the limit. This can lead to anxiety and even depression after one failure.
Even after doing everything right, if you are still dealing with self-doubt, it is time that you take help from regular therapy. You can even ask for business advice from entrepreneurs you trust. The trick is to have confidence in yourself; business wouldn’t always be steady. However, with the right confidence, you will be able to overcome the difficulties.
5. Saying Yes To Everything
When you are just starting your business, everything will look appealing. Every new innovation which will help you appeal to your customers more, or every investment opportunity which will take your business to expansion. However, you must be careful with these ventures.
Having a calculative mind is a blessing for business, and if you do not have it yet, then we would suggest you hone it. Because not every business venture is the right one. You are anxious about not getting anything, so you accept everything.
Soon, you will have a lot on your plate, and that will lead to more anxiety. So, stop saying yes to everything.