Fear of entrepreneurship: how it arises and what to do about it

Fear of entrepreneurship takes various forms, but its causes can be detected and acted upon.

Fear of entrepreneurship is a phenomenon that many professionals must face before starting a project; the way in which a person manages his emotions in such a situation can make the 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 it.

Psychological elements that propitiate the appearance of fear of entrepreneurship.

These are some psychological phenomena that could be behind the fear to really bet on an entrepreneurship project.

1. Emotional stagnation

One of the psychological barriers encountered by many people who want to become entrepreneurs is the emotional stagnation linked to the lifestyle they want to escape from. Both unemployment and certain salaried jobs that are too monotonous can generate this phenomenon of apathy and demotivation, from which any prospect of change is as intimidating as it is exciting, if not more so.

This is why the problem of fear of entrepreneurship cannot be addressed without taking into account the emotional state generated by the context to which the person is exposed in his or her daily life.. It is not the same to think about launching your own business when you are in a start-up where you are in constant contact with new ideas and professionals, than when you are in the company where you have been working for a decade doing the same thing.

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 to say that 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. to take action. In these cases, taking refuge in these "mental simulations" about what could happen is a way of taking refuge from that which generates anxiety: the situation of putting one's own ideas to the test and exposing oneself to failures (or triumphs).

3. Anxiety linked to uncertainty

This is another aspect of the fear of entrepreneurship that is related to psychological rumination, that is, the act of thinking about 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, with little opportunity to put into action the resources they do have (and what they do know).They hardly give themselves the opportunity to put into action the resources they do have (and what they do know). In this way, the tendency to speculate about what might or might not happen is transformed into anxiety and catastrophic predictions, which fuels fear.

4. Conformity bias

Another psychological aspect to take into account is the conformity bias. Many people who think about whether entrepreneurship is right for them interact mainly with people with jobs that are very similar, either because they are part of a company's team of employees, or because they are engaged in conventional jobs in which the margin of uncertainty and experimentation is reduced. Faced with this, it is easy to settle for what is well known and not to try alternatives. that involve taking several steps beyond what most people are doing; many times, social pressure plays a role in this.

What to do?

The very definition of the term "entrepreneurship" implies that each case is different, so if in the field of psychology in general it is assumed that each person is a world, this is especially true for the phenomenon of entrepreneurship. Precisely for this reason, when faced with the emotional and behavioral problems linked to the fear of entrepreneurship, it is best to seek the help of a psychologist to supervise each particular case, taking into account the characteristics of the person, his or her aspirations, the type of work to which he or she is exposed, etc.

However, it is possible to rely on a series of key ideas that can serve as references and key ideas that can serve as references and guidelines to be taken into account to overcome those initial nerves before the challenge of launching one's own business..

1. Establishing a personal and professional SWOT

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

2. Set deadlines

It is very important to organize time so that the process of gathering information, analysis and implementation of the project does not take forever. To do this, use visual tools such as use visual tools such as flowchartsand set short-, medium- and long-term deadlines. This way you will not be so exposed to the temptation of postponing everything. Above all, it is very important that you clearly limit the stage of information gathering and initial strategic decision making, 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 makes you anxious. For example, establish that every day after you take your children to school, you will come home and sit at your desk at work, with no significant steps in between.

Looking for psychotherapy services?

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

Bibliographical 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., y Campos, M. (2005). Cultura e Influencia Social: Conformismo e Innovación. Psicología Social, Cultura y Educación.