Turning Fear Into Fuel for Enterpreneurship

Turning fear into fuel for Entrepreneurship |

|

Harsha Battepati |

Summer- 2014

Table of Contents

Executive summary: 2

Problem Statement: 2

The root of all fears: 5

Break through fear and self-doubt: 9

Tools that can turn fear into fuel: 11

Conclusion: 13

References.………………………………………………………………………………….. 14

Executive summary

Fear is an emotion induced by a threat in a stressful situation and it ultimately leads to change in behavior. An uncertainty in economy, tough competition and a lot of unknowns that entrepreneurs often will have to face that leaves them fearful. Though it’s not easy to build a successful business but one shouldn’t let the fear to be the one that takes oneself down. This paper will examine certain factors that hold us back from venturing into something new that adds economic value. Shane said that psychological factors matters a little and they do not help to differentiate entrepreneurs from other people. Though psychological factors- like risk tolerance, social confidence, anxiety-acceptance and recognition-seeking account for a very little of the difference between entrepreneurs from non-entrepreneurs, much less than demographic factors, fear does play a critical role in the mind of potential entrepreneurs and thus proved to be detrimental to entrepreneurship as a whole.

Also, we will analyze the causes of fear, different forms of fear and re-enforce ideas to overcome fear and self-doubt to enable young entrepreneurs to leap forward. True entrepreneurship-led transformation will require a mind-set shift amongst young entrepreneurs. In this paper, we will discuss some critical tools that help aid to transform fear into fuel and foster growth in innovation and entrepreneurism.

Introduction

Fear is a chain reaction in the brain that starts with a stressful stimulus and ends with the release of chemicals that cause a racing heart, fast breathing and...