Fear Of Failure Will Kill More Business Ideas Than Failure Will.

As 2017 is fast approaching , 2016 is becoming a distant memory – everyone wants a better 2017 than 2016. Maybe you would like to change jobs or start your own business. If you are wanting to start your own business in 2017 you maybe facing a fear and that fear is not uncommon. It is the fear of…failure.

Many business ideas never make it off the napkin or the post-it note, because people fear their business will fail. Lots of doubts will be going through their mind, What happens if no-one likes my products or Service?  What happens if I don’t make any money from my business? What happens if….? So many doubts come up fear raises its head and people then decide to forget it. However, what happens if people do love your products and services? What happens if you do make money from your business? You could afford that nice holiday, the nice car, afford to go out with friends more. How do you know no-one will like your products/services? How do you know you will not make any money? You don’t know!

I have had many business ideas over the years, some were great ideas some and its only by talking to people who would be your potential customers, will you know how great an idea your business is. Before you completely discount your business idea  through fear, do your market research and actually spend your time talking to people ask them relevent questions there are so many key questions out there I have given 4 examples below.

  1. Do you currently use this type of product/service?
  2. What do you like about it? Why?
  3. What don’t you like about it? Why?
  4. How much would you expect to pay for this product/service?

The absolute key thing before discounting your ideas is do your Market Research, it may actually surprise you and overwrite your fears. Do not however ask your friends and family, when doing your market research, Why? I hear you ask. Your friends and family love you and they will 9 times out of 10, tell you it’s a great idea and they would buy it, even if they hate your product/service and wouldn’t buy it. Mostly in that 9 times out of 10 your friends and family don’t want to crush you or knock you, go out and speak to real consumers who will be open and honest with you.

Once you have your feedback from your research, you can then look at the good and the bad. It will either give you the kick up the backside to move your idea forward or it will identify where you need to improve your idea before launching it! If you have researched your competitors and they are making money from their product or service why shouldn’t you be able to do the same.

Don’t let fear ruin your business dreams and ideas go out there and make your mark on the world.

Thank you for taking the time out to read this blog, hope you find it useful, feel free to contact me via the contact page.