Break Through Fear and Self Doubt by James Nsien II - HTML preview

Chapter 13

Overcoming Fear of Expanding Your Business

That said, the choice is yours, but it is also your responsibility to ensure that your decision to not expand your business is rooted in causes and your own decisions, rather than a fear that may or may not be entirely founded on fact and reasoning. You owe it to yourself – and your potential clients – to overcome your fear and make a solid business decision.

Why Business Owners Fear Expanding a Business

• Fear of trusting staff – This is a natural fear and unfortunately that too many employees have proven a valid one. However, by carefully vetting staff and learning sound hiring processes, such as running background checks and reading body language, you can eliminate much of the risk upfront
• Fear of growing faster than you can maintain operations and quality – This really boils down to a fear of putting faith in yourself. Learn to build your confidence and bolster your management skills with classes and new qualifications

Almost every sub-fear of expanding a business can be traced back to a deeper emotional fear or reservation – and those can be confronted and overcome as well.

This having been said, there are many reasons not to expand, lack of resources, lack of skills to manage a larger company, lack of market opportunity, and an inability to tolerate and overcome instability, among them. However, while these are physical reasons based in fact, the above lie in preventing growth due to your own fear.

Stop hindering your success and potential and instead face your fear and push past to overcome it. You will open new doors, challenge yourself, bring new interest to your life and career, and experience opportunity and success that you would have otherwise missed out on.

Overcome Your Fear

It’s true that not all businesses are meant or prime for expansion – however, if yours has potential, don’t miss an opportunity simply because you are too afraid to try.

There are many characteristics that great businesses have in common, including great leadership that is not afraid of a challenge or to try new things. Great companies take advantage of marketplace-driven dynamics, they transform external threats into opportunities, turn negatives into positives, and look to a grander purpose.