#ThursdayThought – Does Fear Run Your Business
Here are some common statements people make – whether a business leader, entrepreneur, or small business owner or manager:
“We’re not sure this will work for us”
“I’ve been successful without that”
“We’ve always done business this way”
“Who else does this?”
“I need to think about it”
“It’s just a fad”
In the mind of those who utter these or other similar statements, these rationale are legitimate reasons for not going forward.
But in reality the reason they are mentioned is because of one thing: Fear.
Fear manifests itself in the following ways:
- Not willing to take risks
- Unwilling to spend money to increase sales
- Not wanting to take on another system, task, project
- Valuing something with smaller returns over potentially greater returns
- Having too large a comfort zone
- Not willing to stick out from the crowd and establish differentiation
- Wanting to piggy back on someone else’s resources and reputation to blaze the trail instead
- Holding on to today’s profit more than chasing tomorrow’s new revenue stream
When fear creeps into our business decisions, we play defense. We would rather hold onto status quo instead of put ourselves in a position of potentially greater success, sales, and profitability. Not to mention create a buzz in the industry by being innovative, daring and meeting your customers’ needs.
Fear – even the slightest amount – will not only hold you back form being more successful; it prevents culture from growing, people from developing, trust from building, and engagement from happening.
Instead, be on the offense and take any new idea with the mindset “How can this work for us?” versus “This is why it won’t work for us”.
The winners in today’s marketplace aren’t afraid to quickly stick their necks out. And they quickly cut their losses if a new plan doesn’t work. Fear will also prevent us from cutting losses quickly as well – think about the problem employee that you have that you hope will turn it around but you’re afraid to let them go.
The only thing you have to fear is fear itself. Be bold, show courage, and find ways to take a new idea and how it can benefit your organization.