Fear is an emotional response to a perceived threat or danger, often accompanied by physical and psychological changes that prepare the body to react instinctively.

Primary Implication

The pressing problem associated with imagined fear is financial imprisonment that comes quickly when a business spends more than it takes in because ownership and the management team fail to do what they need to out of some combination of ignorance, procrastination, people-pleasing, excuse-making, and pessimism.

Those who achieve financial liberty overcome their fears by consistently completing the actions that best generate a return on their investment of time and money.

Overview

Fear is experienced in your mind and can trigger a strong physical reaction in your body.  It is a paralyzing emotion caused by the belief that someone or something is dangerous, a threat, that is perceived to cause pain or embarrassment.  It is triggered more by anticipation and projection of what could happen than it is actually happening.

The problem created by fear lies in its impact on your brain and intellect.  The middle of your brain (amygdala) goes to work on the fear to determine if the threat is real, while other parts of your brain shut down.  When the amygdala senses fear, the cerebral cortex, the area of the brain that harnesses reasoning and judgment, becomes impaired, making it difficult to make good decisions or think clearly.

Fear in life is part of life.  They represent reactions to objects or events.  The problem with allowing a fear to hold you back is just that, you accomplish less than you should, could, or need to accomplish to be your best.  Any fear that interferes with your ability to honor your commitments, to be accountable for the results of your actions is a fear to recognize and develop coping strategies for overcoming.

In Soukup’s study of 4,000 adults, they identified the following seven types of fear that hold people back in life and business:

1. The Procrastinator is a perfectionist who obsesses over the end product delaying any start on a new action until they feel they can do it perfect.
2. The Rule Follower is obsessed with following the distinct rules and guidelines set by others. They will defer doing what needs to be done out of fear of making a wrong decision.
3. The People Pleaser, struggles with the fear of being judged and worries most about disappointing others. They have a hard time saying “no.”
4. The Outcast is afraid of rejection as a result they are likely to reject others first to avoid being hurt.
5. The Self-Doubter is paralyzed by the fear of not being good enough. They lack confidence in their capabilities and are quick to hold themselves back from taking needed action.
6. The Excuse Maker struggle with holding themselves accountable for the results of their decisions and actions. They will live with unacceptable results because they have problems seeing their role in what didn’t happen.
7. The Pessimist will look at challenges and hardships as a stop sign. They are quick to embrace any reason to give up because they feel that the outcome is predetermined no matter what they do.

It is any combination of these fear effects playing out in our lives and approach to completing needed business actions that hold us back from doing what we need to do when it needs to be done.  This is why “fear” is one of the business topics in the BusinessCPR™ Business Insights Library.

While fear is good when faced with a life-altering danger it is a stumbling block that keeps us from realizing our goals and desires when it is imagined.  By labeling the fear holding you back, we have found that you position yourself to make the necessary changes to overcome it.

This is one of the driving reasons why we advocate for disciplined confirmation of the quality of your profits.  Our experience has proven that when you see the results of your actions and become committed to improving them, you can better push past what’s holding you back.  For many, it’s being proactive in overcoming the fear, as shown below:

1. The Procrastinator needs to push past the fear of starting. Particularly when perfection is highly unlikely. Instead set realistic standards with due dates and work to them at your best.
2. The Rule Follower needs to set their own set of guiding principles to help them capitalize on opportunities to be and do their best.
3. The People Pleaser needs to set boundaries with the recognition that it is impossible to please everybody. Accept that meeting their own needs over another has a place and a time.
4. The Outcast needs to assume innocence and not get derailed when they aren’t accepted as they would like.
5. The Self-Doubter needs to become comfortable outside of their comfort zone. Stepping outside of it is helped by being clear on the desired outcome and knowing what you need to do to realize it.
6. The Excuse Maker needs to be clear on their role and responsibilities. They need to know what actions they are accountable for achieving by when and how they will know they accomplished it.
7. The Pessimist needs to set aside victim thinking. They need to embrace challenges as stepping stones or lessons to be learned, not obstacles to give up working through to the desired outcome.

You will never be your best self nor make the money that will lead to financial freedom if you don’t work past your fears.  The BusinessCPR™ Management System has been designed to help you determine what you want to accomplish with tools to help you quickly recognize what’s working and what isn’t.

When you know what you should build on and what needs to change, you have the insights you need to act confidently.  This is the key to earning higher profits that lead to healthy cash reserves that will enable you to have the financial freedom to be and do your best.