This month, we conclude our series on the top five business challenges in running our business. If you’ve missed any of the previous articles, you can click on any of the three previous challenges below to read the details:
Fear is a major hindrance, not only in business but also in all aspects of life – in your professional career, in sports, in raising your family and in your faith. Although fear has a negative connotation associated with it, we must recognize that fear is a necessary part of life. In fact, fear is one of the major contributors to progress and development in our world today. The fear of dark and wild made fire important, the fear of invasion led to building of Great Wall of China and the fear of death and misery helped in making medical advancements. With this in mind, it is the way we react to fear that makes the difference – it can hinder us or it can trigger success and victory.
Fear often prevents us from taking risks or from trying new things. By our nature, we like to do what we’re comfortable with. If you’re an accountant like us, it’s worse as our tendency is to be super conservative, often hesitating to take risks. Here are some of the top fears we had to deal with over the years in our business and some we continue to struggle with:
As a business owner, you must recognize that risk is all around us. In fact, life is a series of calculated risk. Everything you decide to do has a margin of risk so be bold and face your fears head on. John F. Kennedy said it best when he said and I quote “There are risks and costs to action. But they are far less than the long range risks of comfortable inaction.”
I hope you have found this series on the top five business challenges we faced helpful. We encourage you to apply some of the lessons as you run and build your business. If you have any comments or questions, don’t hesitate to let us know. Best of luck!