QUESTION: What is the MAIN strategy you recommend to overcome personal fears as entrepreneur?
ANSWER: Here is the one main STRATEGY to overcome fear in this time and 2 sub-points:
1. STRATEGY - CALL A FELLOW ENTREPRENEUR
We have all felt fear - it makes your brain fuzzy. That is why the MAIN strategy you must follow, is you need to call someone who will help you think. As business owners we must build a network of people who are just like you who can share pain and success, and brainstorm based on experience and realism. When you're an entrepreneur your friend who has a full time, nine to five job, does not relate to your situation. No offense meant but your entrepreneur problems are not the same as someone who still has a job, so they won’t have the same resources to help you brainstorm a way out of it.
So you build a network of people who you respect, who are running that same hustle and who you can look up to for their success. In a crisis, call those people and tell them honestly where you're at. It’s important to tell them you’re about to let down your guard and that you need a comforter, encouragement and strategy right now.
I think there's also a lot of consultants that you can hire out there if you feel that your friend network is maybe also suffering and not able to have a fresh perspective so you can hire a consultant or a coach or
2 - DON’T PUT ALL THE BURDEN ON YOUR IMMEDIATE FAMILY
I think it's important to not just talk to your family. I think that's a burdensome thing to just share all of your worries with your spouse or your children and expect them to be your counselor and your comforter.
For one reason, there's something about how close you can be that you can sometimes be unable to really listen to their advice in the same way that you probably do when you call, call a friend.
For another thing, they are impacted by your choices and feel afraid too. This moment your fear might feed into theirs. Sometimes you need to have additional relationships to help support your creative recovery from crises like this.
3 - BUILD A NETWORK BY BEING SPECIFIC ABOUT REQUESTS FOR ADVICE
If you don't have a friend to call, you are a college alumni. You can go on LinkedIn right now and direct message 10 alumni from your college or past place of employment. Now remember some people don't check LinkedIn regularly, but ask them to hook you up with someone else if they read this.
Be sure to ask them a SPECIFIC question you want to get help on. If you ask for general time, no successful stranger will take your call. Give them a REASON that excites them to talk to you.
Sometimes the opportunity to help someone in need of mentorship - is enough, when asked in a short and specific way. For example say, “I am pivoting my business post CORONA and I would love 20 minutes to share with you my business struggles and hear your opinion of my pivot. Can you help me strategize the way forward based on your succes?” With a creative and clear ask, I guarantee you there will be an alumni who will take, give you 20 minutes of their time on ZOOM.
If you don’t hear back from anyone - you probably asked in a wierd or self-serving sounding way. Take a look at what you sent and try a new approach. Maybe post a question on LINKEDIN and direct message people who respond with good advice.
Reach out - and lift up others in the process and you will find the support you need to solve for a better future. It's relationships that build a business to success during easy times. It is STILL relationships that will help you survive and thrive in the hard times. Again, reach out to your community.
I hope this Q&A encourages you with some fresh perspective of how to grow yourself and your business.
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Expert taken from “USC’s Alumni Entrepreneurship Webinar Q&A: Building Resilience For You And Your Business During COVID-19” (5/12/20). To watch or join the USCAE VISIT: https://www.facebook.com/watch/?v=535727827333636
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MORE ABOUT EMILY PAGE
Emily is CEO of Pearl Resourcing and has managed and launched multiple 7-figure brands in Costco, Williams-Sonoma, Kroger, and Amazon. She’s bringing you the expertise, resources, and mentors you need so that you can develop products and make them sell.
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