Taking a risk does not mean one has to risk the family farm as an example. There are business and calculated risks one can look at, and a calculated risk can simply be running the numbers, talking with other entrepreneurs and business owners and scanning the opportunity from a top level perspective.
Try and say to yourself when feeling fear of even taking a small risk that it is ok to feel this way.
Ask yourself what is the worst-case scenario, and will the whole house come crashing down if this doesn’t work? Fear is often the reason why people do not succeed. As they let this fear take over versus blowing right through the fear or telling it to go away.
Did you know that only 25% of the small business loan is guaranteed. Meaning that you are only obligated to pay back 25% of the loan if things don’t work out. This should be factored into your risk management and calculated risk assessment.
Let me ask you have you ever met a successful person in Canada or around the globe that didn’t take any risks? or let fear control them on making a decision? There really isn’t many and would be hard pressed to find one around.
A few suggestions to combat fear and risks:
- Avoid watching much news on TV. It is fear being planted inside your mind and one suggestion is to read business articles, franchise magazines, entrepreneur sites, & Elite Franchise Canada one you can follow, and educate on you tube. As then you can choose to read the information you wish to read. Try and embrace change and fear and let it be known that it is there and then choose to run through it. Then once you do that you are on the other side of fear and you run it now.
- Try not to live in the wish I could have world, or I wish I should have. Be doing and not a wishing big difference of mindset.
- Get out a dream road map. Write down where you want to go and read it over and keep on updating it. Have you ever met a successful person that did not have dreams and goals? ZERO around so start one today.
- Focus on revenue generation efforts and how you can build the business further.
- One can look at a franchise option as you have support and other franchisees to lean on together to make things better and are not all alone in business.
- Focus on the offense as playing defense one never really wins any championships
Some of the most successful franchise entrepreneurs in the world, had to fail first and learn from their mistakes in order to grow the franchise they run today.
