You Can Beat Your Fear of Failure. Here’s How.
The thought kept me in bed.
Maybe I’m just one of the many failures that will never get off the ground.
It’s scary.
You need all your passion, faith and conviction to fly that rocket, but they’re all weighed down by the fear of failing. The fear that all your hours might go nowhere.
Not knowing if you’re going to succeed and working so hard knowing it might be for nothing.
The worst part is when things don’t go according to plan or fail.
You spend money on something you thought would work, but doesn’t.
You pursue a customer you thought would pay, but doesn’t.
You build your solution because you thought it would conquer the world.
But doesn’t.
Looking back now, I see that it was through my failure that my fear of it changed.
A different fear
Every time I meet an entrepreneur, I’m still awed. Awed that they did the math, decided pursuing their vision is the best outcome.
They know the odds of success for their business are minuscule. They know the coming years for them will be filled with anxiety and failure.
And yet!
They take the plunge into the deep, dark sea called hustle.
This is because entrepreneurs realize we achieve more in a year living on the line than in ten years living carefully.
It takes time, but eventually all entrepreneurs go from fear of failure to fear of failure into fear of failure to act.
But how do you make that shift?
1. Don’t work for money, work to learn
“I have not failed. I’ve just found 10,000 ways that don’t work.” — Thomas Edison
The world’s most successful people are intense learners. And in starting your business, there is plenty to learn.
If anything, stop worrying about making money in your early days. The initial phase isn’t about the amount of money you can make. It’s about showing you can learn.
You will fail! But there’s nothing to fear about that failure.
Your failure is NOT an indictment on your capability and potential. It is simply an evaluation of your PROGRESS. That’s REALLY all that matters.
Stop caring about being perfect. Start caring about progress only.
Stop focusing on the finish line. Start acknowledging that any step forward is a success on its own.
Stop asking yourself: “How do I optimize for perfection?”
Start asking yourself: “How do I optimize for learning?”
My take: be academic and set up experiments.
Identify assumptions, test them, and move on.
Focus on validation, focus on learning.
You need to fail your way into success.
Because the startups that win, are the startups that are better learners.
2. Be customer-centric
Take a look at the picture above. Look at it again. Let it sink in.
Slack went from founding to $1 billion valuation in 1 year and 3 months.
1 YEAR AND 3 MONTHS!
One of the most difficult challenges of startups is figuring out how to gain traction. It’s difficult, because you need to
- Find them
- Attract them at a low budget
- Convince them of the value of your product or service
How Slack nailed it
They realized the point of starting a startup isn’t about money, being famous, or having the freedom to do whatever you want.
It’s to solve a meaningful people for other people.
They knew their key priority: making their users the best possible version of themselves.
And in order to do that, they put their customer at the heart of everything.
To give you an idea of how serious they take this: they have five times more support reps than salespeople…
They built the understanding and success of their users into their company DNA.
They’re not afraid of the criticism of customers. They know it’s the best form of guidance.
Like many entrepreneurs, they’ve made a shift in mind. They shifted from fearing failure, to being desperately motivated to wanting to make the best for their users.
That can be you too! Want to know how? Read my previous article here.
3. Find support
“Self-made is an illusion. There are many people who played divine roles in you having the life that you have today. Be sure to let them know how grateful you are.” — Michael Fishman
Most founders are motivated by their need to give.
They’re creators, not consumers.
But just because this is your natural state of mind, doesn’t mean you shouldn’t seek a lot of help.
When you’re starting out, there’s so much you need to figure out. And guess what: you don’t have to reinvent the wheel on 80% of your business.
Truth is, there are others who can help you move way further and faster. But it takes openness and humility to accept that reliance on others.
But when you accept humility and openness, it’s not a weakness — it’s your strength.
For example, I’m currently part of development agency, and part of our responsibility is to invest in startups. One of the startups that’s doing best has a very unique special advantage.
It’s their skill to collaborate, seek help and listen.
Instead of being in a state of competition, they collaborate. Instead of focusing on winning and grinding, they’re focused on created the best solution possible. The results speak for themselves…
So ask yourself:
- Who can you collaborate with or seek help from that would step up your progress?
- Who has the resources you don’t?
- How can you create value for them?
When you collaborate, 1 and 1 becomes far more than 2.
Conclusion
Failure is inevitable. You’re going to make mistakes. So you have to transform your fear of failure into a catalyst for success.
It’s how you respond and recover that defines your failure. Don’t be afraid to face your failure and problems head on.
Reward progress, action and learning, not perfection.
This is how you keep going, and stand out from the others.
Call to Action
Let us know in the comments: what are your best ways to deal with the fear of failure?
And if you currently experience a lot of fear, ask yourself:
How can I learn more? How can I help my customer more? Who can help me realize my vision?
And go and beat it!
Two last things…
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