Fear of Failure.
It’s what keeps entrepreneurs up at night, worried about their massive investments in capital and time.
Do I have the right idea? Have I developed it enough? Will it work?
Take Action Now
When I developed my first business, I spent three months developing an actionable plan that looked good enough on paper. Then I spent another three months implementing the site to perfection before I was ready to put it out to the world. Somehow those three months kept dragging on.
Finally, I just launched, even though it was a mess.
Your Well Thought Out Plan Sucks
In my business plan, I had specific targets to meet, for traffic goals and for promotions to get things done. However, it wasn’t nearly enough. I overestimated my effectiveness, and underestimated the complexity of the task at hand.
My lack of progress disturbed me, and I immediately questioned whether or not I was on the right track. I decided quickly that my idea was bad, and started thinking about the next one.
You’ll Need Much More Work than Anticipated
For my second online business, I committed to complete domination of my chosen niche.
This plan meant attacking from many fronts at once. For example, if you want to have a successful blog, the following is the standard work flow:
- Create ideas for possible subjects
- Develop ideas completely
- Write article
- Submit to social networks
And that seems like enough. But it isn’t. You must dominate, you must be better than at least 95% of everyone else.
So that means doing more:
- Using Analytics
- Split Testing Layouts
- Developing Relationships with Publishers
- Investing in Intelligence
- Publishing elsewhere
- Developing a Brand
- Becoming a (micro) Celebrity
Understand, the people of the top 95% of any field get a disproportionate number of the results. Being just slightly better than the competition means a landslide more money and eyeballs.
The only way to get better is to work more and work smarter.
You Will Fail at Least 66% of the Time, Even at Your Peak
That’s a hard statistic to deal with, but it’s true. At least 66% of what you’re doing will be ineffective and ignored. It’s hard to be detached and say that one of your grand ideas didn’t work. It’s even harder to come back after your ego’s been beat up.
Something I’ve found helpful to maintain a positive mindset is to assume a negative result in every endeavor. I learned the technique from Winning Through Intimidation.
Basically, the majority of projects you attempt will fail. So have many more projects at one than you anticipate needing. Then be prepared for failure, to keep a positive perspective. When you win, you will be pleasantly surprised.
Use More Action to Build More Momentum
A question most every entrepreneur asks themselves is:
“Why am I putting so much work in to get so little out?”
Action builds momentum. You move first, and then you measure the results later. You can only refine after you’ve made mistakes. So start making mistakes in piles. Eventually, you’ll have a success, mostly by accident. Take that and build upon it.
Your capacity to produce will increase as you push harder. You will become more specialized and more adept, but it does require an initial leap of faith.
Take the plunge and get to work.