The Fear of Failure: Two Entrepreneurs Share Their Stories

Ivy discusses a recent business failure that inspired her to create Anatomy of Failure podcast. To avoid the company failing on her watch, she hired another CEO. After a scathing operational report, Ivy had to retake the helm. There was no way to save the business, and the embarrassment she felt about this sparked her exploration of the fear of failure.

Kali shares how her fear prevented her from launching a hair product line for years. As a child, she equated academic success with self-worth. Kali struggled to step out of her comfort zone, feeling like she had to follow a path that her parents understood.

How Childhood Labels Impact Our Entrepreneurial Mindset

Many entrepreneurs' fear of failure is deeply rooted in childhood labels, like "gifted" or "smart," from parents and teachers. Kali mentions research showing these labels can have damaging effects. Entrepreneurs who have been labeled "smart" from early on may feel immense pressure to succeed, resulting in a fear of failure and a reluctance to take risks. This mindset can prevent them from seizing opportunities.

The Fear of Failure Prevents Entrepreneurs from Seizing Opportunities

Kali and Ivy share how their fear of failure led them to take safer paths, avoiding high-risk (but high-reward) opportunities. Kali explains that her fear blocked her from seeing opportunities in the market to launch her hair care product. "Fear is the lens through which we see the world," she says. While fear protects us, an exaggerated fear keeps us stuck. Recognizing this allows entrepreneurs to shift their mindset, enabling them to take bold actions.

Overcoming the Fear of Failure: How EMDR and EFT Help Entrepreneurs Take Bold Risks

EMDR (Eye Movement Desensitization and Reprocessing) and EFT (Emotional Freedom Techniques) gave Ivy and Kali the mental space to address their fear of failure. Ivy says, "Failing has freed me. The worst I thought would happen didn't happen. And now, I'm empowered to take bigger risks." Doing emotional work to overcome the fear of failure is crucial for entrepreneurs ready to take bigger risks and achieve greater returns.

Tolerating Failure: A Key Skill for Entrepreneurial Success and Growth

Ivy quotes another entrepreneur, saying, "If you're going to be wildly successful, you need to develop a tolerance for failure." Avoiding failure may seem safer, but it limits success. Tolerating failure allows entrepreneurs to learn, adapt, and grow. Embracing failure fosters resilience, a key ingredient for long-term entrepreneurial success. Working with fear, rather than avoiding it, promotes both personal and professional growth.