Think about this famous quote by Franklin Roosevelt after
Pearl Harbor: "The only thing we have to fear is fear
itself." I never really understood this quote until I
started working with people who wanted to start their own
practices, and until I started my own businesses. I have
thought a lot about fear and the way it can paralyze us and
I have seen this paralysis first-hand.
For example, I spent a lot of time, and many phone calls
and emails, helping a grad with the startup process. He
would go only so far, only to stop. He would find a
practice to buy, and then he would back out of the deal
because it wasn't quite right. Or he would find a
location, but never actually sign a lease, convinced that
this location wasn't perfect. He couldn't find a loan, but
he only tried a couple of banks then gave up. After months
he finally decided to stay as an associate, where he was
unhappy; for all I know, he's still there.
Why does fear paralyze us?
1. Old voices. We all have voices in our heads, from times
when someone (parent, friend, spouse) told us, "You can't
do this," or "This is stupid. You'll fail," or "Don't risk
failure." "If you fail, it will be terrible." As long as
we listen to those voices, we don't move ahead.
2. Perfectionism. It's great to want to do things well,
but we often are way too picky about how things must be.
For example, the guy who wanted the perfect location. A
friend of mine gave me some advice about writing: "My
rotten published book is better than your perfect
unpublished one." So I'm sending it off to be printed.
3. "Don't just do it." We figure we have to start at the
beginning and work toward the end, in some kind of specific
sequence. Then when we get stumped at a certain point, we
figure there's no way around. Not necessarily. Sure you
will have to get a loan before you can start buying
equipment, but there are lots of things you can do to get
started with little money, and there are lots of paths, not
just one.
Timothy Ferriss, author of The 4-Hour Workweek (Crown,
2007), has some suggestions for overcoming the paralysis of
fear:
1. First, define your nightmare. What is the worst thing
that could happen if you fail in your new practice? Spend
some time thinking about this. Create a worst case
scenario. Then consider two factors: Probability and
Severity. These are insurance terms, but they apply.
First, what's the probability (on a scale of 0% - never
happen, to 100% - guaranteed to happen) of failure? Then
look at the severity – the cost – of failure. While I'm
not a fan of dwelling on the negative, I do believe you
need to look under the bed to convince yourself there
really are no monsters under there (like Grover.)
2. Then look at the steps you could take to repair the
damage. How could you get your life back on track if you
fail in practice? Spend some time thinking about
alternatives, like starting again elsewhere, or working for
someone else. Think about what's really important, and
"don't sweat the small stuff."
3. Consider the outcomes and benefits of more probable
scenarios. Think about what your life would look like in a
"best case" scenario. Then set yourself to thinking that
this is the more probable outcome of starting your own
business.
4. Prepare to succeed. Start taking baby steps to overcome
your fears by working on the positive steps to success.
Resolve to do one thing every day that you fear. Do one
small task every day that will move you toward your start
date. It might be as simple as calling the Yellow Pages
and ordering an ad in the next book. Work on your business
plan. Focus your energy on positive action. By the time
you are done writing the business plan, I think you'll find
you will see that startup success is not only possible, but
you'll feel more confident about starting your practice.
Remember, as Henry Ford said, "If you think you can or you
think you can't, you're right."
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Copyright 2007 Jean Wilson Murray, MBA, PhD.
Dr. Jean Murray has been advising small business owners
since 1974. As the founder of Planning for Practice
Success, she specializes in assisting health care
professionals with business plan construction and startup
details. She can help you gain the knowledge to act and the
confidence to begin. Learn more at
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