When considering business ownership, it's common to have competing voices in your head. "Go for it!" says one. "It's too risky," says the other, louder voice. Fear takes over and causes paralysis.
With any major life change, fear is normal. But do you want fear to make decisions for you? How do you make it work for you rather than against you?
Follow this ABC model to ensure you have the right mindset:
A: Acknowledge
Acknowledge that there can be a lot of emotion involved when thinking about starting a business. To manage all of those emotions, you must make strategic and tactical decisions.
- Explore the ideal methods for running a business.
- Determine why you decided to take this route in the first place.
- Acknowledge the importance of staying on track to achieve your goals.
B: Base Knowledge
Fear can be reduced with knowledge. The information you gain will put you in a better position to succeed. Examine the business model by learning more by asking questions. Furthermore, it is critical to understand that you will not be able to get all of your questions answered; however, you will be able to get enough of your questions answered to make an informed decision.
C: Courage and Purpose
You will face many decisions as a business owner. Allowing fear to paralyze your decision-making process can lead to frustration and a loss of confidence. Therefore, it's crucial to master the technique of progression.
Making no decision is a decision not to move forward. Consequently, fear management is a skill that you must practice.
Develop the ability to move forward rather than freeze. The more decisions you make, the further you will progress. The more you try new things, the more confident you become. You will become more aware of your courage, capability, intelligence, and resourcefulness as your confidence grows.
Think about the bold choice you just made. How will you deal with that decision?
You have the option of allowing the challenge to paralyze you or of progressing and building your confidence and courage to achieve success.
If you would like to talk about the importance of fear management in franchising, please schedule a brief call here.
