Fear of entrepreneurship: how it arises and what to do

The fear of entrepreneurship is a phenomenon that many professionals must face before starting a project; The way a person manages her emotions in such a situation can make a difference at a key moment like this.

But… What are the possible causes of fear of entrepreneurship, and what to do about it? Let's see.

• Related article: "The 7 types of anxiety (characteristics, causes and symptoms)"

Psychological elements that promote the appearance of fear to undertake

These are some psychological phenomena that could be behind the fear of really betting on an entrepreneurial project.

1. Emotional stagnation

One of the psychological barriers that many of the people who propose to undertake are found is the emotional stagnation itself linked to the lifestyle from which they want to escape. Both unemployment and certain overly monotonous salaried jobs can generate this phenomenon of apathy and demotivation, from which any prospect of change is as intimidating as it is exciting, or more.

That is why The problem of fear of entrepreneurship cannot be faced without taking into account the emotional state generated by the context to which the person is exposed in their day-to-day life

. It is not the same to think of launching your own business while in a start-up where you are in constant contact with new ideas and professionals, who being in the company in which they have been working for a decade doing the same.

2. Analysis paralysis

Analysis paralysis occurs when people do not get out of the phase of posing hypothetical future situations and deciding what to do in each case. That is who has a problem of analysis paralysis does not stop thinking about the same ideas, not daring to take the definitive step to take action. In these cases, taking refuge in these “mental simulations” about what could happen is a way of taking refuge from what generates anxiety: the situation of testing your ideas and exposing yourself to failure (or triumphs).

• You may be interested in: "The 'paralysis of analysis'; when overthinking it becomes a problem "

3. Anxiety linked to uncertainty

This is another aspect of the fear of entrepreneurship that is related to rumination psychological, that is, the act of turning the same idea over and over again, but without being able to change anything.

Uncertainty leads some people to focus all their attention on the fact that they lack information, without hardly giving themselves the opportunity to put into operation the resources that they do have (and what they do know). In this way, that tendency to make speculations about what could or could not happen is transformed into anxiety and catastrophic predictions, which fuels fear.

4. Compliance bias

Another psychological aspect to consider is compliance bias. Many people who think whether it is convenient for them to undertake interact especially with people with jobs that are very similar, either because they are part of the team of employees of a company, or because they are dedicated to conventional jobs in which the margin of uncertainty and experimentation is reduced. Given this, it is easy to settle into what is well known and give up trying alternatives that involve taking several steps beyond what most people are doing; many times, social pressure plays a role in this.

To do?

The very definition of the term "undertake" implies that each case is different, so if in the field of Psychology in general assumes that each person is a world, this is especially true before the phenomenon of entrepreneurship. Precisely for this reason, in the face of emotional and behavioral problems linked to fear of entrepreneurship, it is best to have the help of a psychologist who supervises each particular case, taking into account the characteristics of the person, their aspirations, the type of work to which they are exposes, etc.

However, it is possible to rely on a series of key ideas that can serve as references and guidelines to take into account to overcome those initial nerves when faced with the challenge of launching your own business.

1. Establish a personal and professional SWOT

SWOT analysis can help put the positive and negative aspects of the entrepreneurship project into perspective. In this way you will have a vision of both risks and opportunities, and the former will be less likely to overshadow the latter.

2. Set deadlines

It is very important to organize the time so that the process of collecting information, analyzing and starting up the project does not go on forever. For it, use visual tools like flow charts, and set deadlines in the short, medium and long term. This way you will not expose yourself so much to the temptation to put everything off. Above all, it is very important that you clearly limit the stage of collecting information and making initial strategic decisions, so as not to fall into analysis paralysis.

3. Use action triggers

Action triggers are based on the habit of being very clear about the times and places that are linked to the start of an activity. That way, you will use those references to take action, so that you are always working on your project instead of thinking about what causes you anxiety. For example, state that each day after taking your children to school, you will return home and sit at your work desk, with no significant intermediate steps.

Looking for psychotherapy services?

If you are interested in having the support of a psychologist to learn to manage anxiety or fear of entrepreneurship, get in touch with me. I am an expert psychologist in the cognitive-behavioral model and I work both with individuals and with companies, either in person in Madrid or online.

Bibliographic references:

• Berger, J.; Rosenholtz, S.J.; Zelditch, M. (1980). Status organizing processes. Annual Review of Sociology, 6: pp. 479 - 508.
• Charan, R. (2001). Conquering a culture of indecision. Harvard Business Review, 79 (4): pp. 74 - 82.
• Gu, Y.; Gu, S.; Lei, Y.; Li, H. (2020). From Uncertainty to Anxiety: How Uncertainty Fuels Anxiety in a Process Mediated by Intolerance of Uncertainty. Neural Plasticity, 8866386.
• Hogg, M.A.; Vaughan, G.M. (2005). Social psychology. Harlow: Pearson / Prentice Hall.
• Paéz, D., and Campos, M. (2005). Culture and Social Influence: Conformity and Innovation. Social Psychology, Culture and Education.