*Special thanks to Derek Goodman for this month’s contribution!
Afraid to Launch a Business After Experiencing Financial Challenges? Here Are 5 Effective Ways to Conquer the Fear
Congratulations, soon-to-be entrepreneur! Reaching the milestone of formally launching a business is certainly one to be proud of. The hours, resources, and confidence required to become a business owner are extensive. However, even if you have everything in place and you’re ready to push the “start” button on your new venture, you may still have feelings of apprehension if you’ve recently experienced financial hardship.
Oftentimes, these feelings are due to issues with your mindset. Darlene Coleman shares her top strategies for conquering your mindset when beginning a new business after experiencing prior setbacks.
Acknowledge that the past does not dictate your future.
Where you’ve been in your past ultimately has no effect on your future. While there may be underlying behaviors that can be addressed, it is crucial to acknowledge that you’ve entered a brand new phase of your life. At this moment, you can make brand new decisions that lead you to a financially abundant future.
As a new entrepreneur, you have the unique opportunity to turn something negative that happened to you into a positive outcome. Realize that, although the past was painful, today is a brand new day full of new opportunities and decisions.
Start meditating regularly.
One of the best strategies for focusing on the present is to meditate. Even if you have no experience with meditation, you can begin your practice immediately. In addition to fostering a positive mindset, researchers have linked meditation to effective stress management, enhanced attention span, improved resiliency, better mental health, and increased compassion for self and others.
You can find guided meditations on some of today’s top meditation apps, as well as on YouTube. If you want to kickstart a meditation practice or take your current one to the next level, explore Darlene’s online classes.
Outsource specific tasks to combat overwhelm.
New business owners put in countless hours of work before seeing steady profits. After a few weeks of this kind of schedule, it can be easy to feel exhausted and burnt out.
To combat the overwhelm that is typical to entrepreneurship, consider outsourcing specific tasks. When looking to hire a freelancer or independent contractor with the goal of growing your business, a virtual assistant is an excellent choice. Virtual assistants usually charge between $10 and $20 per hour and provide an affordable solution for handling tasks such as answering phone calls, data entry, and scheduling your meetings. Browsing reputable job boards will help you quickly find the right candidate for the job.
Practice gratitude daily.
Gratitude is a powerful force. Studies have revealed that practicing gratitude on a regular basis can actually change the brain. These changes can lead to more productively working through emotions and improved mental health. Shift your mindset from a place of discouragement to contentment by writing down 10 things you are grateful for each day. Over time, you’ll notice a change in your overall mood and approach to your business.
Start reciting positive affirmations.
Finally, positive affirmations are yet another excellent way to conquer your mindset. You not only can use these for your daily challenges, but you can specifically apply them to your financial insecurities. For example, you can say to yourself, “I am financially secure and attract money each day,” as a positive affirmation. Even if it isn’t yet true, saying positive words to yourself each day can shift your mindset from scarcity to abundance. Over time, this can lead to real change in your personal and business finances.
Overcoming a negative mindset is a process. When working through these strategies, set the realistic expectation that these changes will not happen overnight. Be patient with yourself, and show yourself grace and love when working through your emotional obstacles.
Darlene Coleman creates a safe environment in which you can fully express your feelings, emotions, and authentic self. Get in touch to learn more about her services today.