How to Turn Your Fear into Fuel Three steps to make your entrepreneurial anxiety work for you.

By Gwen Moran Edited by Frances Dodds

Opinions expressed by Entrepreneur contributors are their own.

How to Turn Your Fear into Fuel
image credit: Forces of Geek

Sometimes, the essential risks you face as a small business owner can be more blood-curdling than a posse of evil clowns in a dark alley. Most fears have an element of facing the unknown, says Jonathan Fields, serial entrepreneur and author of Uncertainty: Turning Fear and Doubt into Fuel for Brilliance (Portfolio, 2011).

That fear can become a barrier, holding "treps back from taking changes that pay off in the long run, or it can become a motivating force, sharpening the senses and improving performance. Risk of loss, uncertainty, and exposure to judgment are the "three horsemen of fear," he says.

Fields offers these three steps to start using fear as a tool to motivate innovation and growth:

1. Shine a light on your myths. Look at the major assumptions that are causing the fear, he says. Be clear about what's scaring you and identify the underlying beliefs that are causing you to think that way.

Related: How to Break Through Fear and Self-Doubt

Perhaps the recession has left you gun-shy about spending too much money on any one program or you're just averse to change. Understanding the root of your fears is the first step to determining whether they're based in reality or pessimism.

2. Creep forward a little at a time. Perhaps you don't know enough about that prospective new market or you're afraid that people won't like your new branding effort. Make a list of the steps you can take to mitigate the risk. Test the branding concepts with a focus group to get feedback.

Learn more about that potential market by going to an industry conference or paying a consultant for some advice. Earmark a bit of your budget to a pilot program for new ventures instead of risking a great deal of money by rolling out unproven hunches.

Related: Richard Branson on Facing Your Fears

3. Look for the boogeyman. As you take your baby steps, watch the results. Is the response to your actions positive or negative? If it's good, move forward. If your fears are proving to be correct, change your course. But don't get bogged down in what others think, unless they're your customers, he says.

As you repeat this basic exercise with different fears in your business, Fields says it will become a natural response to fear. With practice, you'll become less fearful of phantom menaces and more in tune with measured risks that could reap large rewards.

Gwen Moran

Writer and Author, Specializing in Business and Finance

GWEN MORAN is a freelance writer and co-author of The Complete Idiot's Guide to Business Plans (Alpha, 2010).

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Leadership

Lead From the Top: 5 Core Responsibilities of a CEO

Knowing exactly what the chief executive's role entails is critical for steering a company to success.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Jeff Bezos Launches a Tesla-Rival That's 'Affordable' and Customizable. Here's What the EV Truck Looks Like.

Slate Auto has launched its reservation site, where truck buyers can create a vehicle with a spate of customizations.

Business News

Here's How Much a Typical Google Employee Makes in a Year

Compensation for the median Google employee was up 5% in 2024 compared to 2023, according to a new U.S. Securities and Exchange Commission filing.

Leadership

What Makes You a Unicorn in Your Industry? Start by Mastering These 4 Pillars

We all want to achieve elusive unicorn status. But how do you attain such a lofty goal among stiff competition, all vying for the same thing?

Leadership

This Overlooked Leadership Skill Will Help You Build Trust, Influence Teams and Thrive Under Pressure. Here's How to Develop It.

Executive presence is a critical but underrated leadership skill in 2025. Here are the steps you can take to develop it.