(ThyBlackMan.com) An entrepreneur refuses to live a life full of restrictions and limits. And those who got rejected many times but are successful today understand the risk of being fearful and not taking steps. They are on top and they know how miserably they could have failed if they didn’t overcome fear.
If you are someone who runs a business, no matter how small or big, and need to get funding for your business but not getting positive results due to fear, you’re not alone, this guide is for you. If you want to get things done, here’s how you can overcome fears related to your startup funding plans.
1. Embrace Your Imperfections
A proverb says “A beautiful thing is never perfect.” Be ready to accept what you have and stop chasing perfection all the time because you may lose opportunities. While sitting at home or office, your mind keeps telling you to make your “plan of attack” the best. In reality, business plans don’t grant you funds. Plans are just a layout of your strategy and the bunch of papers can be imperfect. Sometimes, verbal presentations work and documented ones rest in dustbins.
2. Don’t be terrified to make mistakes
Don’t expect excellence in everything you do, especially when you are knocking doors with startup funding requests. You can’t be excellent in everything and even investors are not expecting a superhuman to appear in their office. Don’t assume that your business will be judged only by your mistakes.
The mistakes you have made in past can be used as learning experiences. Don’t see the flaws as something you should hide from others. Even if your business idea is imperfect or needs some more planning to look perfect, step out and speak to the investors.
3. Start looking for sources
It takes a lot of dedication and hard work to find the right source of money. Don’t be afraid to share a bit of information about your business idea. In the beginning, startup founders live with a fear of their idea being stolen or copied. It’s wise to keep a few things under wrap but sometimes it makes your plans look suspicious. Check with venture capitalists, angel investors, commercial lenders and with the government through the SBA to fulfill your startup funding goal and don’t hesitate in sharing details.
4. Be willing to shake things up
Your business needs to be thrown out of the comfort zone to face the realities of the business world. But sometimes it’s hard to know where and which things to shake up. If you want to grow your business through the startup funding way, networking is a must.
Don’t be afraid to join a business accelerator program. Even if they are not directly going to provide funds, you will have the chance to connect with people who are growing at different speed. Your learning process should never stop.
5. See yourself as worthy of success
The fear of success is even scarier than failure. When you dream about a large investment in your small company, the tendency to get scared by your own accomplishments can catch you all of a sudden.
Sometimes in life, we all need to attribute our success to our hard work and efforts instead of making our accomplishments look small by attributing them to luck. You need to believe that you truly deserve what you are expecting from investors.
6. Don’t be a control freak
In business, we want complete control. You may have heard the stories of well-funded companies destroyed by their investors as the founders lost control. Nobody wants to give away control of what they can do better and it’s common for entrepreneurs when it comes to startup funding.
We know that we are responsible for the result and we are strong enough to bear any sort of unexpected circumstances. Your willingness to control situations and people may not always work in the way you want. It brings stress, frustration and consumes energy. And when you have some experienced investors or mentors to guide you, the willingness to control everything can turn out to be pointless.
Shifting your perception from fear to taking calculated risks is magical and it pays off well.
Staff Writer; Corey Shaw
Have any Tech Tips? News? Hit up our Tech Guru at; CoreyS@ThyBlackMan.com