How Fear Hinders Your Business Growth

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We’re all humans and experience fear whether we like it or not. This fear may be something that we don’t consciously notice, but it keeps us from making decisions and leads us to procrastination. Fear is one of the strongest emotions we feel and the same fear paralyzes us from taking action toward our goals. Throughout history, fear has worked well to keep us alive, as the lack of fear could get you killed out in the wild.

Fast forward to today: How are our fears keeping us alive? Although you may come up with a lot of reasons to keep and abide by your fears, the fact is that today’s society allows us to take more risks without the grim reaper knocking on your door than ever before. Especially in the business world, being too careful can hold you back and negate all of the hard work and planning you’ve put into creating the business.

How does fear hold back an e-commerce business?

Like most of you, I wanted to start an e-commerce business because I wanted financial freedom from personal debt, financial freedom to take care of my parents and freedom from the oppressive 9-5 job. Although I haven’t yet reached my goals, I have come a long way from the days I worked on my business at night after my full time job.

When I was starting out my business, even a $300 inventory purchase was a huge investment. This is because up until I began my business, I was a regular consumer who was used to making purchases one-by-one. Buying 50 of the same product, or even 10 for that matter, was a huge leap of faith. Unfortunately, the strong initial fears got the best of me as I bought just enough to get wholesale pricing. I knew the products would sell, but my internal mindset and fears kept me from spending more capital on inventory, because my fears held me back from taking any risks. This fear pinched my growth potential and I ended up always being out of stock, upsetting customers who wanted to buy.

Will the fear ever go away?

Fear is something that’s inherently within us and don’t get me wrong, it’s a good thing if you know how and when to let fear influence us. The key is to know when you’re feeling beneficial fear or detrimental fear that keeps a cap on your business growth. With experience, you’ll start distinguishing between the two fears and use them to your advantage. It’s easy for me to tell you to discard your fears and take action, but that would also be bad advice. Instead, we’ll discuss how to distinguish our fears and take the best actions in the next post regarding fear.

Comment below and tell us what fears hold you back in your e-commerce business. Is it the fear of failure? If so, what type of failure? Do you fear what your family will think when you begin your online business? Let us know.

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