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Conquering Fear Of Failure

Wednesday, April 20, 2016   By Mike Reddy


Do not let the fear of failing detract from your potential as an individual and business owner.

Known as Atychiphobia, the overwhelming fear of failing or falling short of a given goal affects many people worldwide. If you allow it, atychiphobia can damage your potential as a business entrepreneur and significantly cripple your overall success in your field of endeavor.

Don't let this happen.

Here are a few ways you can combat this fear and continue on to maximise your life and achieve your goals.

Take a look at yourself in the mirror. Now, be honest with yourself. What do you not like? Do you perceive yourself as too timid, too withdrawn?

Think about one of the biggest mistakes you've ever made in your life and how it made you feel. Whatever your self-perceived faults are, recognise them now.

Then forgive them. No one is perfect. Everyone fails at things from time to time.

Learn to face your failures and realise that failure isn't the end of the world - it's just a small spot on the overall road of life. Beating yourself up over failures of mistakes only hurts - it does not help.

Don't rationalise your mistakes - you need to look them full in the face and own them - but don't let those episodes dominate your life. Learn from mistakes - don't live them every day of your life.

A great anxiety-reducing exercise before undertaking a project or working towards a goal is to imagine what the worst-case scenario could be for you if you fail.

Once you have this worst-case scenario in place, think about what effects it will have on your life and future. Now work out strategies so that, if this terrible scenario becomes reality, you have a plan in place to move past it and continue on towards eventual success.

Once you have a plan, what do you have to fear? You know that, whatever happens, you will survive.

Just using these two simple techniques can greatly reduce the effect Atychiphobia can have on your life and increase your productivity and confidence.

Now that you have a plan, go forth. Go forth and conquer.

Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.