GET FREE BUSINESS MINDSET COURSE

How To Believe In Yourself & Your Business Idea

believe in yourself despite the fear of failure

Picture Credit: Tim Messina - Photographer, BC Skier & Peak Prosper Member

Have you ever wanted to start something new, but you were too scared of what the outcome may be and decided it was better to do nothing after all?

This is an extremely common reaction when trying something for the first time, and it is especially common among those doing something as big as starting your own business.

New entrepreneurs face lots of pressure for their businesses to succeed from themselves, their families, and business partners. In turn, this leads to uncertainty, self-doubt, and fear, which are the main reasons a business idea never becomes a reality. The amount of self-doubt you have when starting your business will limit how far you can go, and how successful it will be.

If you're feeling down on your luck or you feel crippled by self-doubt, no worries! This article will teach you how to believe in yourself and your ideas and how to overcome self-doubt when starting a business or going through a career change.

Article Overview:

What Is Fear Of Failure & Self-Doubt?

Fear of failure is an intense fear of doing anything that may have an unsuccessful outcome. People with a fear of failure will avoid trying new things, taking risks, or in your case, starting a new business or changing careers because of their fear.

Self-doubt is a feeling of uncertainty regarding specific aspects of ourselves, whether it's doubting your thoughts, your abilities, your determination, etc.

When doing something as big as starting a business or making a career change, the fear of failure and self-doubt often come into play. If you listen to these negative thoughts, It will discourage you from moving further with your business and in life.

What Causes The Fear of Failure & Self Doubt?

There are multiple causes of fear of failure. Let's examine some of them.

If you grew up around people who humiliated you, talked negatively to you, or discouraged you from pursuing your ambitions, this typically results in a lack of confidence as an adult.

If you've ever failed at something really important in your life, the painful memory alone could  stop you from taking risks. For example, let's say you had a big presentation for work some years back. During the presentation, you were nervous and forgot what to say, which led to your co-workers making fun of you.  Because of this memory, it makes you less likely to “take risks” in the future because of the fear of being perceived as a failure.

How The Fear Of Failure & Self Doubt Affect Your Mindset 

Our brain is the biggest tool for manifestation we have. Depending on the mindset you have, you can either set yourself to succeed or fail.

If you're constantly doubting yourself and your abilities, you will always have low goals and expectations. This means you will always be underperforming and living beneath your potential.

At Peak Prosper, we teach a simple formula to help you understand this:

T → F → A = R

Your thoughts (T) lead to your feelings (F), your feelings lead to your actions (A), and your actions lead to your results (R).

Let's say there's a man who wants to transition to starting a business he's passionate about. However, he's afraid of failing and is constantly doubting himself. This self-doubt will make him feel inadequate and incapable of running his own business.

Because of his low self-confidence, he'll procrastinate and push off starting his business which will result in him staying at his old job, and never reaching his full potential.

Click here if you want to learn more about how to overcome negative thoughts.

How To Build A Tolerance For Failure

As an entrepreneur, failure is something you have to come to terms with.

Many widely successful people had big failures along the way. Take Steve Jobs, for example. His initial Apple I model was a commercial failure, but he didn't give up, and Apple II was a success.

Even then, Apple III was a failure, yet he was determined to succeed and is now looked upon as one of the most successful entrepreneurs ever.

Building a tolerance for failure requires changing your mindset.

First, understand that failure is not a roadblock. 

Failure serves a valuable lesson to the human with an open mind - it tells you what’s working and what’s not.

Every day nature is providing us with feedback. Rather than looking at failure as a negative or an attack on who you are as a person, change your way of thinking to view it as an opportunity to improve so you can learn and grow.

How Perfectionism Enhances Self-Doubt and Limits Your Potential

New entrepreneurs usually want everything about their business to be perfect and well polished before they think about launching it. 

Let me state very clearly - this is an impossibility.

I know an extremely successful entrepreneur who started a business with the idea of it actually failing.

Why? Because he wanted people’s feedback so that he could improve the product and design it to exactly what the customer wanted.

In school, we learn that we need to have all of the right answers to “succeed”, graduate, and get a job. This is not how the real world works.

In nature, life, and business, things don’t go as planned. In nature, a snake climbs up a tree and eats the eggs of a bird. In life, we get rejected by the girl we had a crush on. In business, we pitch our new idea that we are excited about and get a “no.”

How do you respond? In the same way, the bird responds, it moves on. “Failure,” is nothing to be ashamed about. It is nothing to take personally. It is life.

What is important is that we continue to work towards our vision, and in the process, become the man we were intended to become.

9 Ways To Believe In Your Business Ideas

1. Develop a Growth Mindset

A growth mindset is a belief that you can improve yourself through effort and learning. People with a growth mindset are not easily discouraged and see failure as a stepping stone, rather than a deterrent.

If you want to overcome the fear of business failure,  it is essential to develop a growth mindset

A growth mindset leads to a willingness to take risks, learn from mistakes and keep going even when things are tough.

 2. Overcome Your Negative Thoughts

Your results are a product of your thoughts, and if you think negative thoughts, you will reap negative results. 

To overcome negative thoughts, it is critical to realize that your thoughts do not represent the truth of who you are, but rather represent what you’ve seen, heard, or experienced.

There’s an old saying…”don’t believe everything you hear.” Well, how about “don’t believe every thought you think?”

Most people allow their negative thoughts to control them, rather than controlling the thoughts. Unfortunately, this is the fundamental reason why few are successful in life and work.

3. Create New Supporting Beliefs

To reprogram your mind against negative thoughts and emotions, you need new, supportive thoughts to replace them.

Take a moment to evaluate your perception of failure and what it means to you.  Do you see failure as a roadblock or an opportunity to grow? How is this belief serving you?

Once you change your beliefs about failure, you will see yourself overcome self-doubt and believe in yourself as an entrepreneur.

4. Clarify Your Vision For the Future

Create a crystal clear picture of what you want out of life and business.

Picture your business in a year or five years, what do you hope to have achieved by then?

This gives you a clear vision to work towards so you know what you’re aiming at. In our 2.0 Transformation Program, we call this a Massively Transformative Vision (MTV).

This unique process will give you the clarity, direction, and confidence to know what the end goal is and why you’re working towards it.

5. Break Your Vision Down Into A Specific Action Plan

Proper planning is key to success. Having a strong action plan helps you develop the mindset and skill set needed to succeed.

Peak Prosper has a proven action plan you can use to turn your Massively Transformative Vision into a reality, and we call it the Path To Prosperity.

This allows you to build serious momentum and stack wins - which we call #newsummits. You will know you’re moving toward your dreams because you’re seeing them become a reality.

6. Define Your Purpose

Purpose is your guiding source of energy…it’s what sees you through the challenging times…it’s your North Star.

Remember that humans take action on emotion. Meaning, if fear is the emotion that fuels your business idea, you will take actions that align with fear, such as procrastination and indecision.  

To find your purpose, define what is meaningful to you NOW. Here are a few great questions to ask yourself.

  • When have you felt the most alive and energized in the last year?
  • What did you love doing when you were a kid that you stopped doing?
  • What global problems am I passionate about?

We all have unique talents and gifts, and it's our purpose in life to share those with the world.

7. Build a Strong Support Group

Men who are successful in getting paid to do work that aligns with their life’s purpose have mentors and a support system. Men who are living below their potential in life think they can do it alone.

I have never met a successful person who did not surround themselves with a group of positive, uplifting, and like-minded individuals. This allows you to expand your ways of thinking, challenge your comfort zone, and find solutions to problems.

8. Set Attainable Goals

So many new entrepreneurs complain that their workload is overwhelming. That is because you're doing too much in a short span of time.

Starting a business creates a big shift in your day-to-day schedule. Set out time from your schedule for your business, and gradually increase it as time goes by.

Be reasonable about the goals you've set, and give yourself time to achieve them.

Remember, you're your own boss now and it is critical to your success that you have a clear plan of action to turn your vision into a reality.

9. Pursue Your Goals Aggressively 

When you're too busy setting and achieving goals, there's no time to be doubtful and scared.

Let your purpose drive you to be the best at what you do.

Once you start your business, it's going to need the majority of your time and energy. So make sure you're always giving it your 100 percent.

Resources For Men Who Want To Launch Their Business Idea & Get Paid To Do What They Love

We have a variety of resources that will assist you in overcoming self-doubt and set you on the path to achieving your goals

Get The Find Meaningful Work Mini-Course

Follow our proven process in this 3-part, online mini-course. Complete with action-based resources. Get instant access to the mini-course.

Book A 1:1 Clarity Call

Want a proven methodology, an epic community of high-performing adventurous men, and expert mentorship to help you discover your purpose and get paid to do what you love? Book your free 1:1 clarity call right now to learn more.

Finally, these books will improve your mindset and put you on the path to achieving your goals:

  •  The Power of Self Confidence by Brian Tracy
  •  Why You Act The Way You Do by Tim Lahaye
  •  You Are A Badass by Jen Sincero.

Additional Free Resources

Other Content You Might Like 

From $500K Biz Debt to Financial Freedom + The 4 Hour Workweek

Sep 26, 2022

How to Get Clear on Your Business Goals

Sep 22, 2022

Episode 31: Setting World Records & Leading a 7-figure Adventure To...

Sep 09, 2022