Why is it so scary for people who feel deep inside that their fortune would change once they change over, yet hold back their decision due to fear.
The reason is they have FAR syndrome. What is a FAR syndrome?
F is lack of faith in self and in the universe. If we look at all the successful people in history, they started with poor resources. Many of them did not complete their education. They met with failures. Yet a deep faith in self helped them sail through. How does this faith develop? It is a product of person’s education and surrounding. The traditional education promotes a mindset of working in a job, getting good job. We are taught in school, colleges to study well to find a good job. Surrounding is the company of people. Our parents, teachers, friends, relatives promote this idea. They also promote fear psychosis. “If you do not study well, you wouldn’t get a good job and your life will be miserable”, does this sound familiar? “Your uncle was the topper in university, he retired from a high position, and you too should study well and rise in company”.
A is acceptance. After the person has overcome fear of failure and fear of uncertainty, the next challenge is acceptance of situation. When the person takes steps to build his business or his dream, he faces challenges, tough situations, and failures. On the first sight of failure, usually people start doubting their decision. Some regret their decision, some carry on. Some have deep faith in their ability and accept the situation as temporary challenge. No failures are permanent. When a person resists the situation it doesn’t change the situation for good, makes it worst instead. Resistance creates discomfort, stops rational thinking and the result is the person freezes. He stops taking actions. In this situation it is important to come to terms and accept the fact. It could be something’s not working for that moment, some error in judgment. All satellites deviate from their ideal path, they correct their path to reach to the planned trajectory. Similarly acceptance of situation often leads to solutions to do better and take actions to stop further damage and correct the course to achieve desired goals.
R is Risk appetite. Ability to take risks often stops a person from succeeding in life. Risk is the possibility of an event or an act that would affect the achievement of goal. Like the earlier example of baby in womb, if the baby doesn’t take the risk of coming out of womb after certain period it would die. Similarly risk averse people would lose their purpose of life if they do not risk exploring new options. A person in job wouldn’t take the risk of starting his own company since he would risk losing stable income if he fails. How would his family live as he is the only earner in family. While this fear is true, there are ways to harmonize this fear and move ahead to take the risk. The steps for managing this risk are:
- Identify a person who has already done this before. A person who has left his job and started his own business, possibly in same field. He will be the best person to coach for he knows what the risks are and how they could be possibly managed. For instance he would highlight what worked for him and what did not. Where did he fail? He would also know the trends of the business. How much cash flow one could expect, how much would be the running expense, what would be the impact of public holidays on business or what would be the impact of recession on the business.
- Keeping some portion of savings aside for managing at least 3-6 months of monthly family expense and the running expense. This is a safety net.
- Making 90 day plan to do those activities that would generate customers and revenue. These are daily activities.
- Yet another best way to manage risks of future is to go in to the future and visualize all possible outcomes. For instance if you open up a coffee shop and you could possibly see that initially there are a few customers in initial months and the revenue is low. This visualization of scenario will help you estimate how much time it will take roughly to break-even.
Above all it is very important to know WHY you want to change. Why you want to start your own business or consulting or whatever it is you want to do. If the answer is to make more money, then the business is bound to fail. 9 in every 10 start-ups fail in first 5 years while 9 in every startup that survive fail in the next 5 years. One of the main reasons is the “WHY” for business was never strong enough to sustain. The ultimate backbone of any business is to serve people, their needs. When a business exceeds expectations of its customers by giving them value more than what they paid for, the customers become raving fans. They spread the word about your business and the business grows, thrives.