BUSINESS: 13 Ways Business Tycoons Conquer Their Fears
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country Nigeria has a great admiration for entrepreneurs. Many Nigerians hold
up leaders like Alhaji Aliko Dangote,
Mike Adenuga, and Femi Otedola in
the highest esteem. These trio have made a distinguish mark in the world of
business. Some believe them to be invincible superheroes. But every entrepreneur is human.
And each has to battle fears every day in
order to reach success. And for each fear they conquer, the better the
entrepreneurs they become.
Below are
the common fears that Top leaders are always afraid of:
1. Fear
of failure: Failure is the most obvious fear
for an entrepreneur. Successful entrepreneurs never lose this fear but rather
harness its energy to drive harder, faster, and better. And the best know
that a bad failure means
a great lesson.
2. Fear of
inadequacy: Many wonder if they are good enough and
smart enough to accomplish greatness. Successful entrepreneurs become great
learners so they can fill gaps in their education. They
also become masters of recruitment to fill gaps in their capabilities.
3. Fear of
the market: Catching the market just right
can be like surfing a giant wave all the way to the beach. But as so with the
ocean, if you miscalculate the wave's trajectory, it will slam you into the
sand headfirst and crush you. Successful entrepreneurs show a healthy respect
for market forces and
study the dynamics so they can capitalize.
4. Fear of
fraud: There are few who gain success
without some sort of exaggeration of capability or connections. Successful
entrepreneurs are careful not to stretch the truth far
beyond reality. Even an inkling of legitimacy allows them to maintain
credibility.
5. Fear of
selling: Although the practice of sales is a
necessary requirement for success, most people detest trying to push something
on someone else. Successful entrepreneurs want their product or service to be
the obvious choice. And they effectively use marketing
to attract customers so fewer sales pitches are required.
6. Fear of
public speaking: Not every entrepreneur
is a natural evangelist. Some have great ideas yet struggle to articulate them
in front of a group of people. Successful entrepreneurs share their vision
clearly, powerfully, and succinctly. They know that they must be confident on
the podium to inspire others to follow the vision.
7. Fear of
leadership: Being a leader is a choice that weighs
much more heavily than just being a boss or starting a company. All
successful entrepreneurs know that leadership is their No. 1 priority.
They study, listen, and sacrifice to make sure the people who follow are
continuously inspired, motivated, and
rewarded for their efforts.
Alhaji Aliko Dangote
knows that a business comes with a lot
of things to be scared of, but successful people know how to face them.
8. Fear of
competition: The bigger you get, the more likely
that someone will come gunning for you. So many people ignore or dismiss
potential competitors only to be later surprised and sometimes killed in the
battle. Successful entrepreneurs respect and study their competition. They
create long-term strategies to differentiate in
ways competitors can't follow easily.
9. Fear of
time: Entrepreneurs like to be in control,
and time is
one of the few elements they can't affect one way or another. Successful
entrepreneurs understand time is a constant, and learn how to harness its power
through productivity and efficiency.
10. Fear
of embarrassment: Entrepreneurs are
proud people and they hate to be shamed in
public. Successful entrepreneurs know that showing a healthy amount of humility
is the surest way to maintain the respect they crave.
11. Fear
of people: Many entrepreneurs would do it all
themselves if they could. But they can't. Successful entrepreneurs understand
that scalability requires the attraction, development, and retention of great people.
They make sure there are systems and culture in place that make the people the
priority in the organization.
12. Fear
of futility: No one works this hard or long just to
be forgotten. Successful entrepreneurs know they need to make an impact in
order to be considered a significant benefactor to society. They take
society into consideration in all their work and design for their vision of
the greater good.
13. Fear
of self: Everyone knows his or her own demons
best. Successful entrepreneurs commit time and effort to know and improve themselves.
For they loathe to be the one who stands in the way of their own greatness.
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