Congratulations on taking the leap to start your own business! This decision comes with a unique set of responsibilities that your degrees or technical experience might not have fully prepared you for. Many of us, at some point, grapple with the infamous ‘imposter syndrome,’ feeling uncertain or anxious about lacking certain skills necessary for running a successful business. This apprehension can hinder our potential growth. 

Dr. Marli Watt, Mindset Leadership Expert, understands these challenges well. She offers insights on overcoming fears, stepping out of your comfort zone, and embarking on a journey to become not just a reputable professional but a highly regarded business owner.

JOURNEY INTO THE UNKNOWN

In the early stages of your business, you find yourself juggling various roles – from Bookkeeper and HR Director to Marketer and Office Manager. Navigating this diverse skill set can be overwhelming, and for many, the fear of the unknown prevents them from taking the necessary steps for growth. Dr. Marli Watt acknowledges that “fears, anxiety, and worries are very common for all of us.” Fear, a natural response to perceived threats, often emerges in situations where we tell ourselves stories about an uncertain future. Many professionals, focused on client work, may find it easier to postpone progress than to confront the challenges of the unknown.

OVERCOMING FEAR WITH A GROWTH MINDSET

Dr. Watt emphasises the importance of recognising the business journey as a new learning cycle, separate from your legal expertise. This learning cycle comprises four phases:

  1. Unconsciously Incompetent:
    The stage where you don’t know what you don’t know.
  2. Consciously Incompetent:
    Awareness of a competence gap; recognizing areas for improvement.
  3. Consciously Competent: Learning new skills, requiring effort to implement.
  1. Unconsciously Competent: Mastery of skills to the point where they become second nature.

While you may be in the fourth stage as a professional, you might find yourself in the first and second stages regarding business skills. Dr. Watt assures that with time and investment in business skills and personal development, you can progress through these learning stages and reduce the fear associated with the unknown.

MOVING THROUGH FEAR

As a business owner, you’ll face numerous challenges, prompting a reevaluation of your values and beliefs. Dr. Watt provides practical steps to move through fear:

  1. Consciously Improving Competence: Invest in yourself and enhance your skill set to navigate fear.
  2. Reframing Failure: View unsuccessful outcomes as feedback opportunities rather than failures.
  3. Developing a Growth Mindset: Acknowledge that all behaviours can be learned, fostering a belief in continuous learning.
  4. Focus on One Small Step: Take incremental steps outside your comfort zone, relieving the pressure to master every skill at once.

The exciting revelation is that taking small steps outside your comfort zone accelerates your progress. Despite the challenges of running a business, remember that you can upskill with confidence. Seek self-development, consider a coach, or connect with an experienced leader who has overcome challenges similar to those you’re currently facing.