How to Overcome Fear of Failure in Business

28 Dec 2023 · 1 min

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In this brief talk, Feras Alhlou explains that entrepreneurs face two categories of fear when starting or scaling a business: rational, warranted fears (e.g., securing funding) and irrational, imaginary fears (e.g., baseless worries about lawsuits and personal asset loss). He stresses the importance of recognizing which type of fear is present, then responding appropriately—actively seeking solutions for real concerns while maintaining solid business practices to neutralize unfounded anxieties. By differentiating and addressing these fears, entrepreneurs can move forward with confidence.

Chapters

There are 2 types of fears that entrepreneurs face when they're thinking about starting a business or investing more in their business. One type is rational, warranted, real, and the other type is irrational, unwarranted, imaginary. You must be able to differentiate between these 2 types of fears if you're serious about confronting those fears. So for example, a real fear is, how do I fund my startup? You look for ways to get funding. Now, an example of the imaginary fear is if you're starting to think, that what if I started a business and a bunch of people sue me and I lose all my capital and then they go after my personal assets? Yes, there is a chance that someone would sue you, but if you're keeping everything above water, you're following good business practices, there's nothing to worry about. As you're building out your business, make sure you differentiate between real warranted fears and those who are imaginary, irrational, and then deal with them accordingly.