Another great question! This one has been debilitating great business leaders for centuries. Some of the greatest minds had to address these two characteristics: CONFIDENCE & FEAR OF FAILURE.
First, understand they are polar opposites. To overcome the fear of failure you must have confidence.
So how can obtain more confidence? The easy answer is to get better at learning from your failures. Paul Martinelli, CEO of the John Maxwell Team says, “fail and fail fast”. You may have heard me say “let go of the edge of the pool”. This takes confidence. In my elite mastermind circle, we push this hot button, “jump and build your wings on the way down”. Much like a baby bird does. Nike made a fortune with the simple phrase, “Just Do It”.
Okay, this all sounds simple but why do some people have more confidence than others?
You were all born with a certain amount of confidence, however, it is a learned habit just like biting your nails or clicking your fingers. You must unlearn the habits that are causing you to lack confidence and build up the habits that instill confidence. Look at the picture below. The most powerful entrepreneurial tool in known to man is based on this: The MASTERMIND.
Your mind is broken into two parts. Conscious mind, where you live daily, and your sub-conscious mind, where automation, habits, emotion and beliefs are stored. The sub-conscious mind is very hard to tap into by yourself (unless you are extremely determined). That is why there are clubs like Weight Watchers and communities like Alcoholics Anonymous. Creating new habits and unlearning bad habits requires either extreme determination or accountability.
I am a part of a mastermind right now and have been several months. I pay a lot of money to occupy a seat at the table, however, I would pay twice as much now that I know what it has done for me personally.
When you begin come up with a new idea or decide to step out of your comfort zone, your subconscious mind immediately rejects it. Why? Because you have a learned habit! Your mind tells you that you are not good enough to step out.
You have become resistant to the emotion created when you fail rather than to grasp and learn from it.
You must become aware of the emotions that are holding you back and not allowing you to reach your capacity. That is a mouthful, right? To be more confident you must overcome the fear of failure. To overcome the fear of failure you must deal with the emotion caused by rejection.
This is another reason it is important to build a strong inner circle. Seminars are good, books can help but accountability will take you to the next level. How much would it be worth to you in your business and personal life to build confidence?
If 6 up to a maximum of 9 are interested in forming a mastermind, I will be happy to go over a plan. I have a couple of mastermind sessions I plan to roll out this year and we are going to have a blast overcoming the fear of failure and growing more confident. However, know that it is not for everyone but only for those who are serious about improving their business and getting to the next level.
So, for the one who asked this question, kudos! We all have struggled with this at some point in time and the quicker you overcome this fear, the quicker you will begin to deposit money into your bank account.