Continuing our theme with the 11 Mistakes Preventing Business Growth, we dive deeper into a topic which is not a mistake, but a normal human emotion we all experience – fear.
In this episode of Influence by Design, we look at some of the ways fear affects business owners and entrepreneurs, and how it can negatively impact their business growth. As an entrepreneur, you are no stranger to the myriad of emotions that go along with the journey. If you’ve been in business long enough, you’ll also know that your fears also evolve as you enter each new level in business.
Fear in the entrepreneurial context is a multifaceted phenomenon. It can manifest as a fear of failure, fear of success, fear of financial uncertainties, and fear of being judged. These emotions are typically felt because you are walking on a path that no one has been on before.
In your pursuit of business growth, keep in mind that fear is a shared human experience, and being able to master the self to overcome fear is perhaps the most rewarding aspect of this journey.
IN THIS EPISODE YOU’LL DISCOVER:
- Fear in the entrepreneurial context (05:20)
- Different ways to deal with fear so you can continue to move forward (07:59)
- The value of setting the right fear communication with your team (12:43)
- The changing fear perspective as business enters a new level (14:00)
- Mastering ‘self’ in the face of fear (18:08)
QUOTES
- “When you operate and make decisions in a fear state, that’s when things don’t go well. You need to pull back, take a breath and create a plan that’s based more on logic than emotion.” -Samantha Riley
- “We’ve got to be careful of living in fear and thinking about it 24/7, because otherwise we will manifest it into reality. It’s really important to be able to manage your state.” -Samantha Riley
- “My ability to deal with fear or the unknown is tempered by my trust in my genius zone and to be able to create and adapt plans as they need to be created and adapted.” -Tim Hyde
- “It’s up to us as leaders in our organization to not only have a really good process but also be able to communicate that process to the team and equip them with the same skills that you’ve got.” -Tim Hyde
RESOURCES:
- Influence by Design episode 503: 11 Mistakes Preventing Business Growth
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TRANSCRIPTION
Samantha Riley Snippet (00:00):
A lot of these fears with us when we start our business because we’ve never done it before. And in our mind, we think that at some point in the future, we’re not going to feel that fear anymore.
But what I have learned is that we just continue to feel fear, but for different reasons. So the things that made us fearful when we first started our business, not so much anymore, but we do have new fears as we’re going to the next level. And I think that the biggest fear as we sort of continue up the levels is this fear of taking risks,
Tim Hyde Snippet (00:35):
We also need to be kind of vulnerable to acknowledge them, as well. I think that’s the kind of big dichotomy of being in business for yourself, is that you need to be vulnerable to be able to take advice and change. But you also need to be invulnerable to the knocks that we might otherwise receive, as we do that.
Samantha Riley Intro (00:38):
Welcome to the Influence By Design Podcast. I’m Samantha Riley, authority positioning strategist for coaches and experts. If you’re ready to build a business that gives you more than just a caffeine addiction, and you dream of making more money, having more time, and having the freedom to be living your best life, then you’re in the right place, it’s time to level up.
Welcome to today’s episode of influence by design. I’m your Thursday co host Samantha Riley and joined by my good friend, Tim Hyde. How are you today? Tim?
Tim Hyde (01:26):
I am looking forward to being a bit vulnerable today. Sam,
Samantha Riley (01:30):
are you looking forward to it?
Tim Hyde (01:32):
Yes. I know that sounds really weird. But
Samantha Riley (01:37):
I always get those pings. About being vulnerable.
Tim Hyde (01:41):
You must ask me that question every week with some trepidation and go.
Samantha Riley (01:47):
Today? Exactly. Yeah. My mind goes 20 miles an hour before you open your mouth guide. What am I getting ready for this time? Well, I think
Tim Hyde (01:56):
today’s topic is probably an interesting one, because it’s not one that people talk about pretty much and, and we continue the theme of the little mistakes that we see business owners make all the time, I know that my sister would know that this is a mistake in the traditional sense, but it is something that affects us as business owners as we grow our enterprise. And that, of course, is allowing us coming to fear.
Samantha Riley (02:27):
And I like I do like the way you said that because it’s not a mistake that we make because fear is a normal human emotion. We all feel it. And we will lie as much as we were joking and being silly to each other.
Before we started recording, we both feel fear. It happens more often than either of us care to admit it is something that rears its ugly head all the time.
Tim Hyde (02:56):
Super afraid of being eaten by a shark.
Samantha Riley (03:12):
Oh, my goodness gracious May is not something that enters my mind. And I do.
Tim Hyde (03:19):
That’s the thing about fear is one of those things. And I raised that not entirely jokingly I and I do have a fear of sharks. They’re great at the other side of the glass in the aquarium.
But it’s it’s one of those things that is irrational, I know, logically that the chances we ever been by shock, because I don’t serve, you know, two and a half hours from the coast is incredibly unlikely I am more likely to be hit by a meteor or a bus or both, at the same time, being sort of ignored by shock, and maybe this intellectual curiosity there as well.
But there’s some myths about these things. I think, you know, it enters into it’s part of it’s a fundamental part of the human condition as he, as you mentioned, but it does massively affect us as business owners, because we are as entrepreneurs, paving a path that no one’s ever been on before. Absolutely on similar journeys.
We’ve had similar skill sets in similar times. But no one’s been on your journey ever before. So you are in many ways as an entrepreneur, I pioneer a particular set of skills with a particular set of influences and environment that says, Congratulations, you are four steps.
Samantha Riley (04:40):
Yeah, and not only has no one walked your path before you there’s no one walking alongside it with you and understanding that you know, there can be all sorts of triggers that come up that no one else is going to understand even those that are walking beside you.
So we’re not Talking about this unnecessarily being a mistake that people make this is really an open discussion around the fact that we all feel fear. And it’s not about trying to get rid of it. It’s about being able to operate with it in a more resourceful way, and a way that that serves you, so that you’re not crippled by it.
Tim Hyde (05:20):
Yeah, let’s, I think it’s probably important to have a super quick conversation about what feelings in entrepreneurial context, okay. Now many of us have heard the acronym, false evidence appearing real.
And I think it’s one of those things that because we kind of as entrepreneurs, we’re constantly dealing with changing environments, that we’re constantly putting ourselves into a situation that isn’t familiar.
And so the fear manifests itself in that context of worrying about something that may or may not ever happen. If it doesn’t work, right, so few. What if I hire that person who can afford to pay them?
You know, I’ll have to let them go. If I bring on that client and don’t do a good job. They weren’t very much. It can be so this one things that what if something will go wrong?
And that’s how I kind of feel manifests, right? We constantly having to make decisions every single day, when most of what decisions are the wrong decisions. If I buy that you’re destined, that’s the worry if your belief, what if what if I missed your thoughts, that point as well, of course, there’s the what if it doesn’t go as planned? And then as the wavelet does?
Samantha Riley (06:37):
Yeah, exactly. And I think we often hear about a fear of failure. But I also see a lot of a fear of success, like, what if I do this thing, and it works really well. And, you know, I’m out of my depth, or I’m spending too much time in the business or all sorts of things is that fear of success.
And there’s definitely a big one that that for a lot of us that have a personal brand, it’s that fear of being judged. And these are all fears that can come up.
Tim Hyde (07:08):
Whether it is when you’ve put in your case, funds, but you’ve put your name attached to it, and we were joking, a little bit offline. About people go for jobs, right. And for some reason, we probably stereotyping terribly here.
But you know, when men see a job and these 10 criteria, they’ll go, Well, I’ve got three of those, quote, If I can meet yours, I’ll go for it. And we will have nine and go whoa, I don’t have that last one. What are worried about right?
So I think it affects both men and women quite differently. Yes. But it’s not that we don’t have it every year affects everybody. It just affects everybody differently based on a whole bunch of factors. Today, about when you put yourself out there, and that worked. When you took a look.
Samantha Riley (07:59):
There was a question that you asked me as we were preparing for this episode, like how do you deal with fear?
And before we actually got to the answer of how we deal with it, there was something that I said and I do want to touch on this is in Sunday’s it affects me what much like something will happen.
And if I’m feeling really good about myself, if I’m feeling really confident, if things have gone really well, and I’ve had an amazing session in the gym, it can be like, Oh, that things happened, like water off a duck’s back, and I’ll be fine.
And another day exactly the same thing can happen or something similar, and it will really affect me because maybe I’m tired or, you know, you’ve lost a couple of clients in a in a very short space of time and your confidence has taken a hit.
So, you know, you there’s nothing rational about fear that it affects us in different ways all the time. Yeah.
Tim Hyde (08:53):
You’re absolutely right. Yo, Krishna. Bochy is like, because it’s different how you deal with Fiat, I, I don’t really know what I’m saying. I think there’s, there’s a couple of things here that, that help us deal with fear. One is operating in the genius side. That’s, that’s definitely one thing.
The second one is your ability to adapt, will create plans and adapt those plans on the fly. So that’s one of my genius. things, I guess. Other than, you know, tying toys out of champagne bottles helps us to make plans and have those adapt, adapt those plans on flight.
Right, so many of our listeners will know I spent a good sort of 1516 years in project management. And project management is a field in which you create plans, and you have to adapt those clients sometimes on very short notice and stuff doesn’t go to plan.
And so my ability to do with fear of The unknown is really tempered by when things don’t go right, is tempered by ability or not trust in my ability, my genius zone, to be able to create and adapt plans as they need to be created and adapted.
Samantha Riley (10:14):
I think that alongside that, it’s the ability of being able to take yourself out of the emotion of what’s going on, and asking yourself better questions. So really taking yourself out and say, All right, what needs to happen next? What Why are we doing this? What needs to happen next? What’s a different way we could do this? What’s the way that we need to mitigate this situation?
Whatever the question is, but really getting very logical about it, asking yourself like, what’s going on? So like pulling yourself out of the emotion, asking yourself what’s going on? And then creating that plan to execute in a different way? Yeah.
Tim Hyde (10:52):
I think, you know, if you are a very emotional person, there’s probably some really good advice there. If you can step back, from your emotive state will allow you to allow yourself to have that moment. I think it’s critically important by yourself to have God Oh, my God, right, but then go, next thing I need to do, we can it comes back to his plan, right? This process by which we deal with the unknown.
Allow yourself to sort of recognize that and acknowledge your emotion based allow yourself to step out of it and see your from that new vantage point of perspective quo. You know, what’s going wrong here? But what’s the opportunity to do this in a different way?
Samantha Riley (11:33):
Absolutely. And just that, that question alone is something that Leon and I had to deal with just a few weeks ago, where we both something happened, both of us when we sat in it for about half a day, because it really knocked the wind out of us. And then I had to really come back and go, right, we’ve got a massive opportunity here to look at this particular system.
And once we could get back into that, we actually both got excited about it again. So having the ability to take a breath is is something that I’ve definitely learned, I’m an Aries, I am emotional, and I do fly off the handle very easily. So over the years, I have learned to really rein that in and control and take a breath.
And that is definitely something that’s that’s helped. Because when you operate and make that next decision in a fair state, I have discovered over and over again, that that’s when things don’t go well, we really do need to sort of pull back, take a breath and create a plan that’s based more on on logic than emotion.
Tim Hyde (12:43):
This way, we would do that kind of, again, the management of the fact that this happens, it’s a natural thing. But having that process to do is so critical. And for me, when I think communicating that process to people who surround you, or your team, your aren’t your loved ones, whatever, you know, communicating that process and say this is how we this is how we’re going to deal with stuff when it wasn’t the plan.
This is how we’re going to deal with fear in our organization, because it happens. You’re you’re mapping to your employees, at some point, they will be affected by this, as well.
And I think it’s up to us as as leaders in our organization to not only have a really good process, but then communicate that process to your team and equip them with the same skills that you’ve got, you know, from a leadership perspective, no one likes to work in an organization where leadership, meaning you do this is a good way for the district.
Yeah, yeah. I know I have. And it’s not a great place to be, and it doesn’t give you any sort of confidence. Well.
Samantha Riley (14:00):
I think something that I want to mention at this point is, you know, we’ve talked a lot about fear that, you know, that fear of failure, fear of success, and a lot of these fears are with us when we start our business, because we’ve never done it before. And in our mind, we think that at some point in the future, we’re not going to feel that fear anymore.
But what I have learned is that we just continue to feel fear, but for different reasons. So the things that made us fearful when we first started our business, not so much anymore. I know, Tim, you were talking before about the fact that every weekend for your other business, you go and speak to agents and say, Hey, got any clients to refer to me, no matter what, at the beginning of a business. That’s something that you could be fearful about.
But now you’ve done it so many times. It’s just like, yeah, it’s just what you do every weekend. So it’s not the same fears, but we do have new fears as we’re going to the next level. And I think that The biggest fear as we sort of continue up the levels is this fear of taking risks.
Tim Hyde (15:07):
You’re probably because it’s all about making the world grow, we want to have the impact we want to have, we have to take those risks, absolutely. acknowledge that this is a scary thing that you’re doing for the first time ever. And growing up, I couldn’t do it anyway, because that scene is more important to me than the obstacles that might get in the way.
Samantha Riley (15:32):
Yeah, it’s about being really clear on the outcome that
Tim Hyde (15:35):
you want. No, one thing you said offline, Sam, and I’m not trying to put a support out here is that where your focus goes, your energy flows. On so you talked, you talked to you earlier about saying, you know, you have good days and bad days, I certainly do as well, you have good
Tim Hyde (15:59):
then my battery’s low. That we sometimes we have the ability just soon conceivably deal with stuff much more easily then than other days. And I think that comes back to where this where we’ve got that reserve of energy, if we’re well rested, eating properly, exercising appropriately.
That you’ve got enough energy to do stuff, and you can focus where you need to focus, and all the other things that normally, when you provide, they kind of see bounce off that invincible suit of armor. But the same time, you also need to be kind of vulnerable to acknowledge them.
As well, I think that’s the big dichotomy of being in business for yourself, is that you need to be vulnerable to be able to take advice and change. But you also need to be invulnerable to the remarks that we might otherwise receive. As we do that,
Samantha Riley (16:58):
absolutely. It’s about knowing where to, I guess talk about it, or where to like lip lip, the gosh, I was gonna say that let your guard down. But I don’t mean that when you’re in business, you know, you’ve got the walls up.
And you know, you’re not authentic. But there are certain things that you only talk about with certain people in the, you know, behind the scenes, there has to be that safety there.
Tim Hyde (17:26):
You already mentioned last week, the importance of having a coach or advisor or consultant, who’s on your team that you can do this stuff with with similar you. So for myself, Sam, critically, I think important to be able to have that release, felt someone who you can talk to be transparent, be vulnerable.
And go, you know, I’d actually don’t know what I’m doing here. I’m worried about the bank. Can you give me some perspective? Absolutely. Who was that person? Again, whether it’s a P or a TRO, true, whatever. often give you perspective,
Samantha Riley (18:04):
on 100%. And we’re in before you did mention where focus goes energy flows, what we’ve got to be really careful of, is not really leaving the sphere and thinking about the sphere 24/7, because otherwise, we will manifest it into reality.
That’s why it’s really important to be able to manage your state. And, you know, whether it is with your coach, or your meditation, or journaling or asking better questions, whatever it is for you, to be really aware of that I think being self aware, is something that I see really good leaders and successful business owners have really mastered their state.
Tim Hyde (18:49):
Yeah, well, they do a few masters. So
Samantha Riley (18:53):
absolutely. There’s a whole it’s, it’s, it is actually all it is, right.
Tim Hyde (18:59):
Well, I think absolutely right, Sam, you know, if you, you know, how do you deal with fear. And one tip is kind of do that self work. As we mentioned before, acknowledge that you’re afraid that emotion go, step out and have logical space to be able to plan and move forward.
Once we can do that. Faster, you can do that, the easier it becomes to deal with fear and freefall situations aspect,
Samantha Riley (19:27):
And the faster your business will grow. It’s that simple. So we hope that you’ve enjoyed today’s episode, and we’ve given you something to think about or something that has given you an aha moment for yourself. Tim, it’s been a pleasure to speak with you today. As always, Sam, and we hope you’ve enjoyed today’s episode. We’ll catch you next Tuesday for another episode of influence by design. Ciao for now.
Thanks for joining me for this episode of the Influence By Design podcast. If you want more head over to influencebydesignpodcast.com for the show notes and links to today’s gifts and sponsors. And if you’re looking to connect with other experts who are growing and scaling their business to join us in the coaches, thought leaders, and changemakers community on Facebook, the links are waiting for you over at influencebydesignpodcast.com
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