Preparation: The Antidote to Fear of Failure - Darius Foroux

Some people are apparently more afraid of starting their own business than jumping out of a plane. That’s how powerful the fear of failure can be.

We’d rather do something that could get us killed than do something new. Researchers found that about a third of Americans are more afraid of starting their own company than sky diving.

Even if many of them hate their jobs and want to quit. Why are we so afraid of doing something new?

• Moving to a different city, state, or country
• Going to activities by ourselves
• Starting a business
• Switching careers

When you’re afraid to take the first step towards doing something new, like going for a different career path, starting a business, writing your first book, etc., the best thing to do is to do a bit of research.

A study found that one of the best ways an entrepreneur can overcome feelings of fear is through information seeking. That’s probably why Bill Gates reads about 50 books a year and even takes two-week “reading vacations” now and then.

People create goals in 2 ways: By being proactive, meaning they are motivated by achieving a positive outcome. And by being avoidant, meaning they develop goals to avoid something undesirable.

It’s the difference between people who play the game to win. And others who play to avoid losing. The thing is, we don’t control most of our results in life.

That doesn’t mean we should aim very low. When you’re in a situation where you have no control over the outcomes, remember that you have power over your mind — not outside events. Realize this, and you will find strength

• Learn – Consume as much information as you can in a limited time period.
• Act – There comes a time when you have to put down your book and start practicing what you learned. Many people never start.
• Adjust – Most things we pursue in life are not final. You can always switch jobs, careers, start a different business, pick up new hobbies, move to another city, and so forth. Simply adjust your path if it doesn’t work out.

The most important thing about the LAA framework and overcoming the fear of failure is that life is a fluid process.

Preparation helps you try out new things and go the distance. It’s there to reassure you that you have something to fall back on if things go wrong. 

Starting a business, switching careers, investing in the stock market as a beginner, and so forth – these aren’t a matter of life and death. Not like walking an actual tightrope between two skyscrapers.

When you realize that your psychological fear can be allayed by preparation, you’ll be just fine.