How to Identify and Overcome Your Biggest Fears and Doubts When Starting a Business After a Layoff

Overcoming Fear and Doubt: Actionable Steps to Start Your Business After a Layoff

Photo by Jon Tyson on Unsplash

Table of Contents

• Dear Reader
• Why is this Important to you?
• How to Create an Action Plan
• Mechanisms for Overcoming Fear and Doubts
• Holding Yourself Accountable
• Conclusion

Dear Reader,

In 2008, my journey into entrepreneurship began after being laid off from my position at an Open Source CRM company. At that time, I did not have savings, a plan, or a network to secure another job quickly. However, through adversity, I unlocked new strengths after being laid off. I was no longer fearful of what would happen should my position be eliminated; now, this was a living reality. I was no longer working from the premise that the business I always wanted to start for myself could wait after reaching a specific position/role, the time to get started, or have a certain amount of money saved.

The luxury of time, savings, planning, and networking were all behind me, and only intent action lay ahead. But where do I even begin? How does one even start a company? Will I be successful? How do I pay my bills and ramp up a new business simultaneously? Well, I was about to find out.

Starting a business after a layoff can be a scary and daunting experience. You might question your abilities, second-guess your decisions, and wonder whether you’ll succeed. Fear and doubt can be crippling and hold you back from achieving your goals. But don’t worry — you’re not alone. In this article, we’ll discuss why it’s essential to identify and overcome your fears and doubts, how to create an action plan, what mechanisms to incorporate, and how to hold yourself accountable.

Why Is This Important to You?

Before diving into the specifics, let’s discuss why this is important. Starting a business after a layoff can be a turning point in your life, and it’s essential to get it right. If fear and doubt hold you back, you may miss out on opportunities to grow and achieve your goals. Additionally, if you don’t address your concerns and doubts, they may lead to burnout and other mental health issues. By identifying and overcoming your fears and doubts, you can build confidence, resilience, and a growth mindset to help you succeed in your business and personal life.

How to Create an Action Plan

Now that you understand why identifying and overcoming your fears and doubts is essential, let’s discuss how to create an action plan. Here’s a step-by-step guide:

1. Identify your fears and doubts — Reflect on your thoughts and emotions. What are you afraid of? What doubts do you have about your abilities? Write them down so you clearly understand what’s holding you back.
2. Set achievable goals — Once you’ve identified your fears and doubts, it’s time to set achievable goals. Start with small, measurable goals that will help you build momentum and confidence. For example, if you need more confidence in public speaking, set a goal to speak in front of a small group of friends or family.
3. Take small actions — Now that you have your goals, it’s time to take action. Start with small, manageable steps to move you closer to your goals. For example, if you’re starting an e-commerce business, start by researching the competition or building a website.
4. Review and adjust — Regularly review your progress and change your action plan as necessary. Celebrate your successes, learn from your failures, and keep moving forward.

Mechanisms for Overcoming Fears and Doubts

Identifying your fears and doubts and creating an action plan is a great start, but it’s not enough. It would help to incorporate mechanisms for overcoming your fears and doubts. Here are some suggestions:

Reframe Negative Thoughts

Starting a business after a layoff makes falling into negative thought patterns easy. You might think, “I’ll never succeed,” or “I’m not good enough.” These thoughts can be crippling and hold you back. To reframe negative thoughts, try the following:

• Replace negative thoughts with positive ones — For example, instead of thinking, “I’ll never succeed,” believe, “I’m capable of success, and I’m taking action to achieve my goals.”
• Use positive affirmations — Repeat positive affirmations to yourself daily. For example, “I am confident, capable, and deserving of success.”

Visualization Exercises

Visualization exercises can help you overcome fears and doubts by creating a mental picture of your success. To visualize your success, try the following:

• Close your eyes and picture yourself achieving your goals.
• Use all your senses — Imagine what it feels like, smells, sounds, and looks like to achieve your goals.
• Do this exercise daily, ideally in the morning, to set a positive tone for your day.

Seek Support

Starting a business after a layoff can be a lonely experience, but it doesn’t have to be. Seeking support can help you overcome your fears and doubts. Here are some suggestions:

• Find a mentor — A mentor can provide guidance and support as you navigate the challenges of starting a business after a layoff.
• Join a networking group — Joining a networking group can help you connect with like-minded individuals who can provide support and advice.
• Talk to a therapist — If your fears and doubts affect your mental health, consider talking to a therapist. A therapist can help you develop coping mechanisms and provide a safe space to discuss your thoughts and emotions.

Holding Yourself Accountable

Identifying your fears and doubts, creating an action plan, and incorporating mechanisms for overcoming your fears and doubts are all essential steps. However, these steps will only be practical if you hold yourself accountable. Here’s how to do it:

• Set deadlines for your goals and hold yourself responsible for meeting them.
• Find an accountability partner — Find someone who can hold you responsible and provide support and encouragement.
• Track your progress — Use a journal or spreadsheet to track and celebrate your successes.

Conclusion

Starting a business after a layoff can be scary, but it’s also an opportunity to grow and achieve your goals. By identifying and overcoming your fears and doubts, creating an action plan, incorporating mechanisms for overcoming your fears and doubts, and holding yourself accountable, you’ll be on the path to success. Remember to be kind to yourself, celebrate your accomplishments, and keep moving forward. You got this!