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Different Kinds Of Fear And How To Overcome Them

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Different Kinds Of Fear,How To Overcome Fear,Startup Stories,2019 Best Motivational Stories,Most Common Fears,Types Of Fear,Types of Phobias,How To Overcome Phobias,Fear of Past Experiences,Different Types of Fear


While most of us are usually excited about learning something new and are constantly interested in proving ourselves, there are others who are so afraid of doing something in which they believe, they don’t do everything they want.  If you feel like you ignored what is your due because of the fear holding you back, then here is how you can overcome the different kinds of fears:

1. Fear of not being taken seriously

For most of us, fear isn’t an all encompassing factor.  There are certain aspects of work which make you fear rejection so much, they don’t let your mind work for the rest of the day. In order to stop this from happening, start compartmentalizing.  If you know you have meetings with a difficult client coming up, then spend the first half of your day working on less stressful things. If that doesn’t help, then keep 30 minutes aside from your day one day earlier and prepare yourself for the meeting ahead.  This will help you get a grip on what is going on and will give you time to assess the situation. One of the benefits of compartmentalizing is you stay grounded and you can prepare yourself for the day ahead.  The fear of not being able to confront the unknown is what keeps you keeps you from moving ahead.  Stop, analyse and take stock of the situation. Only then can you push yourself through a point to where you can be completely certain of what you want to do in life.

2. Fear of not living up to expectations

Sometimes, the fear of failing to meet expectations can stop you from trying something new.  One of the ways to change this is by getting clarity about what is expected from you. When you are given control of a daunting task, talk to your manager or superior about the problems you are facing.  The minute you realise what is wanted from the task, you can start working toward completing the task.  Understand the feedback you get from your boss and when you get clarity, you can start thinking of your game plan forward.  If you keep thinking there are far more things expected from you than there actually are, then you can never overcome your fear.

3. Fear of being let go

One of the biggest fears people have at work is the fear of being fired.  While there are several reasons for you to get fired and while you can’t always know when the axe will fall, you can always plan for things.  Stay ahead of the curve, understand the industry and stay aware of when the tides may change. If you keep holding on to the fear of being let go, you will never do enough to stay on the job.

4. Fear of past experiences

Often times, we don’t realise we hold on to fear because of something which happened in the past. In order to overcome the issue, learn from your past experiences instead of holding on to them. For example, if you had trouble confronting a bully in school, you might hold on to the fear when it comes to talking to a superior who scares you. To get over the hump, remember you are no longer the person you were in school and you can easily talk to your boss without feeling overwhelmed. Instead of holding on to your past fears, learn from them and realise you have to move forward, not backward.

5. Fear of being considered weak

When you are going through something traumatic at work, don’t be afraid to seek support from people around you.  Just because you are asking for help it doesn’t mean you are getting weak and you can’t do things by yourself. Asking for help not only makes you better at your task, it also helps in succeeding at the job you have.  No one other than you thinks you are weak. Ask for help when you need it and the moment you get clarity about the task at hand, you not only overcome your fear, you learn something.

There are different types of fear and if you learn how to overcome the blockages, then life will become simple. If you think we missed out on any other ways to overcome fear, comment and let us know!

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How To

How To Raise Capital For Your Startup

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How To Raise Capital For Your Startup,Startup Stories,How to Raise Startup Capital,Tips on Raising Capital for Your Startup,Small Business Funding,Types of Startup Funding,Startup Capital,How to Raise Funds for Business,Startup Capital Funding

Most of us often think a revolutionary idea is all you need to set up a business.  Yes, a great idea is definitely the heart of your business, but funds are its backbone.  Most startups fail within months after their inception due to lack of proper funds. Raising capital to build your business is a huge challenge, especially if you are a first timer.  We are here to help you with just that. Keep reading to find out some ways in which you can fund your business.

 

How to raise capital for your startup

 

1) Self funding

This is the most obvious way to fund your business.  If you are a first time entrepreneur, you may have a tough time trying to find potential investors.  Therefore, you can consider funding your business from your own savings or ask your friends and family to contribute.  This process of funding your own business is called bootstrapping. Bootstrapping should always be considered as the first option for funding your business.  However, this is suitable only if the initial requirement is small.

 

2) Crowdfunding

Crowdfunding is a millennial way to fund your startup.  How does crowdfunding work? An aspiring entrepreneur puts up a complete description of his/her business, like the business plan, the vision, what he aims to achieve and how much funding he needs, on a crowdfunding platform.  Users of this platform will read about the business and pledge an amount of their choice, if they like the idea. Here, anyone can contribute to your business. Apart from providing financial help, a crowdfunding platform can also help in marketing your products or services.  Kickstarter, Patreon, GoFundMe, RocketHub and CircleUp are some of the most popular crowdfunding platforms in the world.  In India, Faircent, Ketto and Wishberry are some of the most famous ones. 

 

3) Venture capitalists

Venture capitalists (VCs) are professionals who invest in startups and companies which have huge potential.  VCs usually invest in a business against equity, which is the difference between the value of assets and the value of liabilities.  They exit the business when there is an acquisition or an IPO (Initial Public Offering.) Venture capitalists are not easy to impress, especially if you are new to entrepreneurship.  They even come with their fair share of disadvantages. Though a VC invests in your business, they often expect a recovery within 3 to 5 years. This is suitable for businesses which have crossed the startup stage and are already bringing in revenue.  Some popular venture capitalists in India are Blume Ventures and Nexus Venture Partners.  Index Ventures and Accel Ventures are venture capitalists which made their mark across the globe. 

 

4) Angel investors

Angel investors are people who have a huge amount of cash and a keen interest to invest in a potential business.  Sometimes, a group of investors come together to scrutinize and invest in a potential business. Apart from finance, angel investors can also provide advice as mentors.  They are even willing to take higher risks for better returns. Angel investors are the people responsible for the establishment of several big names in the world, including Google and Alibaba.  One drawback of angel investors is, they give far less capital compared to venture capitalists.

 

5) Participate in competitions

In recent times, several competitions are being held, where the winner gets capital for his/her business.  All you have to do is present your business idea or module to a jury and if you win, you get the required capital to start your business.  This, however, is not easy as the competition is going to be very high and your idea has to really stand out from the rest to be able to attract investors. 

 

6) Get help from business incubators and accelerators

Business incubators and accelerators have become immensely popular recently and they are found in almost every major city across the globe.  Business incubators produce several successful entrepreneurs every year. They usually have a program for 4-12 months, during which, they nurture, train, evaluate and fund your business idea.  Accelerators, on the other hand, help an already established business grow or take a huge leap. StartupVillage, T-Hub, TechnoPark TBI and GSF Accelerator are some examples of business incubators and accelerators. 

 

7) Bank loans 

A bank is probably the most convenient place to get funds for your business.  Almost every bank in India provides business loans against some sort of security.  Bank loans for businesses are of two types—working capital loans and funding. Working capital loans are designed to traverse one full cycle of revenue generation.  Funding, on the other hand, is the process of sharing your business plan and your business valuation to get the required funds. 

An added advantage with bank loans is, you will not have the pressure of an investor depending on your business.

 

8) Government schemes

Governments these days are keen on encouraging entrepreneurs.  There are several plans and schemes which are made available by the Government to fund your business.  In India, the Pradhan Mantri Mudra Yojana and the Startup India Scheme are some initiatives. The Startup India Scheme, which was started in 2016, is known to have created thousands of entrepreneurs in India. 

 

These are some of the several ways in which you can fund your business.  Before approaching any investor, it is suggested you do full fledged research about each of these options and also get an idea about various market scenarios.  After that, choose a plan which is suitable for you and your business type. If you have a professional network, which we recommend you do, discuss the various options with them and then take a decision. 

Do you know of any other ways to fund a startup?  Comment below and let us know.

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How To Stop Procrastinating

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One of the biggest obstacles between your dream and you, believe it or not, is procrastination.  More often than not, we tend to postpone important tasks, waiting for the perfect time, out of fear of failure or even because of laziness.  As an entrepreneur, your success or failure depends solely on you. You have to be self motivated to stop postponing tasks and get going. 

If procrastination is a problem for you, we got you covered.  Here is a list of things which could help you stop procrastinating.  

 

Ways to stop procrastinating

 

1) Write down your goals

To stop delaying tasks and increasing your productivity, you need to have definite goals.  Every morning, write down all your tasks for the day on a piece of paper and take that paper with you wherever you go.  This way, you will know what goals you want to accomplish that day. Once you finish a task, cross it out off your list—this can keep you motivated to do more work everyday.  At the end of the day, make a backlog list of all the tasks you could not complete and go the extra mile the next day to complete all these tasks.

 

2) Stop waiting for the perfect time

 

Most of the times, we delay a lot of important tasks, waiting for the right time or waiting for that magical Monday.  The right time is never going to come unless you pull up your socks and get to work. The best time to start is now. So, instead of waiting for the right time, just get to work. 

 

3) Don’t let your mood drive you

How many times have you delayed tasks just because you did not feel like doing it?  Well, this is something of which we are all guilty. None of us are motivated all the time, but what separates successful entrepreneurs from the rest is the fact they get going even when they don’t feel like it.  They are not driven by their mood, but by their goals. They are disciplined enough to get work done even if it is the last thing they want to do. Train yourself to get going even if you don’t feel like it. 

 

4) Steer clear of distractions

Well, this is easier said than done.  It is very easy to get sidelined when you are trying to focus on something.  Distractions take away a lot of time from your day than you possibly think. So, as much as possible, try blocking away distractions when you are working—be it people, gadgets or social gatherings.  This will help you complete tasks faster and more efficiently. 

 

5) Overcome the fear of failure

 

Another reason why we tend to delay tasks is because we fear failure.  This fear could prove to be the biggest hurdle on your path to success.  As we all know, the best way to overcome your fear is to face it. Go ahead and start what you want to do.  If you win, you win, or you just learn. Don’t delay tasks just because you fear losing. 

 

Benjamin Franklin once said, “You may delay, but time will not, and lost time is never found again.”

You may have a great idea and an amazing goal, but if you are not disciplined enough to get to work and pursue your goals, you cannot succeed.  Don’t let procrastination become a hurdle on your way to success. Never delay for tomorrow what you can do today.  

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How To Overcome Business Failure

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“Failure is simply the opportunity to begin again, this time more intelligently.” — Henry Ford.

Failure is not a pleasant feeling.  In fact, it makes you feel like you are being crushed with no escape whatsoever, but if you are an aspiring entrepreneur, this is a feeling to which you must get accustomed.  You will be surprised to know, 20 % of the startups fail even before a year and 50 % before reaching the 5 year mark. As an entrepreneur, you must know, not everything in your business will go according to plan.  Your odds of failure are much higher than your odds of success. 

However, failure is not the end of the world.  Your success in life and in business will be determined by how you deal with those unpleasant failures.  Keep reading to find how you can encourage yourself to start again after a failure.

How to overcome business failure

1) Don’t be too harsh on yourself

Entrepreneurs, especially first timers, tend to blame themselves completely for their failures.  As you know by now, entrepreneurship is a risky process and here, everything does not go as planned.  Everyone makes mistakes and it is these mistakes which make you stronger and better in the future. One failure does not mean you are not capable, so disassociate the failure from you as a person.  Blaming yourself and going too harsh on yourself will make it even harder for you to overcome failure. 

 

2) Sort out your finances

The first thing you should do after facing a failure is to sort out your finances as you can no longer depend on your business as a source of income.  Even if you had a good amount of money in your savings, you might lose it all due to the failure of your business. So, the best thing to do is to find a new source of income which can keep you going till you are back on track.  You can pull a favour from anyone in your professional network for a job or find one for yourself. 

Once you have a stable job, you will have income to pay off your debts and buy yourself some time to figure out what you are going to do next.

 

3) Keep your emotions in check

To see your business fail after investing your heart and soul into it can be emotionally and mentally draining, but if you let these emotions drive you, you are bound to fail again.  Do not take any decision out of anger or fear and any other emotions you may face due to the failure. In the nick of the moment, you may feel like giving it all up, selling your business or trying a new idea then and there.  No matter what you feel, you must wait. Give yourself some time to heal and get your emotions in check, only then move on to take important decisions.  

 

4) Evaluate your failure

As you spend time with yourself everyday, try and analyze your failure.  There are many reasons why a business fails, so it is very important to understand all of them.  Go back and look at your initial business plan, analyze what worked and what did not. If you have a mentor, which we recommend you should, talk to him/her.  A mentor can give you a clear understanding about your mistakes and can tell you what your next move should be.

 Analyzing your failure well can help you avoid making similar mistakes in the future. 

 

5) Rebuild yourself

Now, this is easier said than done.  To gather the courage to start again after failing is a challenge in itself, so take one step at a time.  Start by reading relevant books, updating your skill set and learning the new market scenario. After this, slowly start brainstorming for new business ideas and jot down all the potential ideas.  Also start making a business plan for ideas you think are scalable. Do not forget to reach out to your professional network if you need help at any stage. 

 

Failure is inevitable in life or in business.  Most of the successful people of whom you hear, failed at one point or the other.  Thomas Alva Edison, failed upto 10,000 times before he became one of the greatest inventors of all time.  J.K. Rowling’s books were rejected by several publishers and Evan Spiegel failed at 34 projects before coming up with Snapchat.  Look at the failures as opportunities to learn and move on in life. 

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