According to a global survey among entrepreneurs conducted by Babson College in 2012, fear of failure was the prime reason of concern for women entrepreneurs. Failure is a startup world reality but it shouldn’t stop one from taking the plunge or scaling up. Adding to this are fears of not being respected by the staff, wronging people, not being good with finance issues and all the ‘I am not good enough.
The first step is to acknowledge your fears. Don’t shy away from them trying to pretend they do not exist. Confront your fears by writing them down, sharing with mentor or seeking help from a coach. Once you see it as a reality you are in a position to consciously work towards removing it.
Archana Gupta, Director KEI Industries was a homemaker till the early demise of her husband. She had to now run a manufacturing industry and she was clueless about running a business and how production lines worked. The head engineer looked down upon her for this reason.
But Archana came to face with her fear of being sidelined and drowning what her husband had built. She took six months to learn all about the business and came back to tell a thing or two about running production line to the same engineer. She faced her fear and dealt with it.