Continuing our look into small business owner fears, we come to the extremely common fear of making the wrong decision. Like all fears, a fear of making the wrong decision can be completely paralyzing, preventing you from moving forward with your business plans and keeping you stuck in a rut. In the case of the small business owner, this kind of hesitancy can cost you.
What If There Is No Wrong Decision
A fear of making the wrong decision stems from an underlying fear of failure. If you do X, then Y could happen and that would be bad. This is negative self-talk. Conversely, you could do X and Y could happen and it would turn out great! You just never know until you try it.
Consider this: what if there is no wrong decision? Making decisions is like choosing a path. Each path takes you to a different place but neither decision or path selection is wrong. Perhaps your choices bring you to the same place but via a different route. Or maybe the decisions you make lead you to a place you need to be, even if it’s not what you had envisioned. Again, you’ll never know until you actually make a decision and try it!
When The Decision Truly Was Wrong
Yes, it happens. Sometimes, the decision you made really was the wrong one. But that doesn’t mean you can’t recover from it. The first thing you’ll want to do is admit you made the wrong decision. This allows you to regain control of the situation and minimize damage. Not accepting responsibility for the decision, just allows you to ignore it or place blame elsewhere and that gets you nowhere fast.
Once you’ve accepted responsibility you should think about why you made that choice so you don’t do it again and do what you can to repair the damage and move forward. Focus on the positive and don’t let the poor decision get you down.
You’re Not Alone
The fear of making the wrong decision isn’t limited to entrepreneurs. How many people stay in jobs they hate because they are more scared of making the wrong decision (to leave, to take that new job offer, to change careers, etc.) than sticking with something they know and understand? That kind of thinking may be safe, but it’s limiting. Without change and risk, you can never grow.
As an entrepreneur, you are unlikely to fit into this “safe” mentality. Entrepreneurship by its very nature is risky. It is a risk to start your own business. It is a risk to put out a new service, idea, or product. It is a risk to say goodbye to the stable paycheck. Taking risks, accepting challenges, and facing fears is part and parcel to the job. You must have taken some sort of risk or wondered if you were making the right decision when you first set out on this path – and you did it anyway! Harness that confidence, use it to prop yourself up and guide your decision-making, and keep moving forward.
What I really want you to understand is that you are not alone in your fears, even though I know it can feel like it. Being an entrepreneur is a lonely place and it can be particularly hard when you don’t have anyone to talk to or to discuss decisions with. Business coaches, mentorship programs, and networking can help you think through your choices and decisions. If you need an outside perspective or help thinking through your decision contact The Marketing Shop to set up some coaching calls. We’re here to help!