📺 Stream EntrepreneurTV for Free 📺

Are You Afraid Of Losing Money? Why being afraid of financial disaster can make it happen

entrepreneur daily

A certain amount of trepidation is healthy and can keep youcautious enough to avoid making serious mistakes. But too much cankill your business before it even gets off the ground, Take thisquiz to see what sort of unconscious messages you're sending.Mark each statement as true or false:

  • My spouse or children depend on me to be successful.
  • I have slim savings and assets to fall back on if I don'tpull in the cash I need every month.
  • I have significant household and business overhead expenses tomeet every month.
  • If I don't significantly improve my performance or sales, Ifear I'll go out of business.
  • I think prospects can sometimes tell how desperate I feel whenI pitch my product or service.
  • I experience insomnia because I'm worried aboutfinances.
  • My spouse (or in-laws, parents or business partner) is upsetabout our financial situation and is giving me a hard time.
  • I worry about extremes, like losing the house or my spouse,even though that's highly unlikely.
  • When I lose one sale or a prospect says no, I panic about notbeing able to earn the money I need.
  • The more desperate my financial situation, the harder it is toprospect, because my self-esteem falls into the gutter.

If one to three of these statements are true, your fear offinancial disaster is manageable but may be inhibiting yoursuccess. If you marked between four and seven of these statementstrue, you can count on losing sleep over financial worries. And ifmore than seven are true, you're too desperate to be effectiveprofessionally. Stabilize your finances before trying to depend ona small business for a living.

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

Editor's Pick

Starting a Business

Most People Have No Business Starting a Business. Here's What to Consider Before You Become an Entrepreneur

You need to find the right business opportunity at the right time and take the right steps to beat the odds.

Leadership

AI vs. Humanity — Why Humans Will Always Win in Content Creation

With the proliferation and integration of AI across organizations and business units, PR and marketing professionals may be tempted to lean into this new technology more than recommended.

Business News

Passengers Are Now Entitled to a Full Cash Refund for Canceled Flights, 'Significant' Delays

The U.S. Department of Transportation announced new rules for commercial passengers on Wednesday.

Growing a Business

Who You Hire Matters — Here's How to Form a Team That's Built to Last

Among the many challenges related to managing a small business, hiring a quality team of employees is one of the most important. Check out this list of tips and best practices to find the best people for your business.

Franchise

Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.

Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.

Management

7 Ways You Can Use AI to 10x Your Leadership Skills

While technology can boost individual efficiency and effectiveness, it's essential to balance their use with human intuition and creativity to avoid losing personal connection and to optimize workplace satisfaction.