Photo (CC) by Dennis van Zuljlekom, on Flickr

When you head out in the morning, are you sitting in the seat or driving the bus?  Is your business your work or your career?

Do you work in your business or on your business?

These three questions point out two ways that business owners can look at what they are doing. So often the owner finds himself or herself caught up in the daily tasks of the business. With little or no help, the duties of stocking, running the till and even sweeping the floor fill up the to-do list. The tasks of building the business, marketing, networking, planning and analysis are what gets done when time permits.

Breaking from the habit of riding the bus to driving the bus is crucial. You need to think and act like a business owner. Think back on how you spent your last day at your business. How much of your time was used to build the business?

I have heard business owners, when asked where they worked, respond with the business name only. Others, though, go on to clearly identify that they own and operate XYZ. This later group understand that business ownership is an attitude and an identity.

Some of you may respond to my comments by stating that your business is a lifestyle enterprise. That’s fine, but if it is to continue in this fast-paced world, working on your business and planning for tomorrow is as important to you as the owner who wants to be the next Google.

Or you may think that my comments really are a small issue. But small issues, when repeated over and over, become habits. Those habits are often predictors and drivers of a final outcome.

So when asked what you do, tell people that you are the CEO of (name your company). It may feel funny at first, but in time, it comes naturally and can help you spend more time at building the business.

Your business of tomorrow beings with your focus today.

Photo (CC) Chris Potter, on Flickr via stockmonkeys.com

Do you have a dream of starting your own business?

So what’s holding you back? For some, its not having an idea. For others, it is fearing the lose of hard-earned savings. Others think about what their friends might think of them.

All of these and many of the other reasons given really come down to the fear of failure. It seems so scary and would be so devastating.

Before you let those fears take over, think back. Did you ride your bike the first time you tried?  I have several times where I tumbled to the ground. Or how about when you learned to drive? I suspect all of us did not always hear encouraging words from our driving instructor.

The fear of failure is common among aspiring business owners. The desire is there, maybe even the idea, and, at times, all of the pieces and planning. The only thing missing is starting. So how do you move forward?

The first thing is acknowledge it exists. We all feel failure. One author, Kevin McCarthy wrote, “Fear of failure or success is one and the same. Both are fear of exposure. Not of our strengths, but of our weaknesses.” Aspiring owners are afraid of losing money and the time it will cost them if the business does not succeed.

The fear is real with between 50 to 80 percent of businesses will not be there in five years.  But understand what that means.  Many of these business terminations occur but no one, except the owner and perhaps family and friends, are owed any money. It is a business that just didn’t work out. Business owners saw a better opportunity and either transitioned the business into something else or just closed the first one and opened another. In view of all the businesses that start, only a few close via bankruptcy in the grand scheme of things. Businesses close for lots of reasons.

The second thing to remember is failure is okay. It happens and is just part of the learning process. As Edison said, “I never failed once. It just happened to be a 200l-step process.” Or the words of General Colin Powell, “There are no secrets to success. It is the result of preparation, hard work, learning from failure.” Entrepreneurs fail. Think of Sam Walton or Henry Ford. Ford recognized this when he wrote, “Failure is only the opportunity to begin again more intelligently.”

So don’t let the fear of failure be your excuse. It isn’t a given that you will fail. Many businesses plan, work hard, adjust when needed and end up being a success. Perhaps the words that inspire so many aspiring and existing entrepreneurs are those of William Feather, “No man is a failure who is enjoying life.”

So don’t let fear stop your dream. Look for an opportunity, see if the market responds well to your idea, put your plan together and go for it.