How to Work with Fear of Failure

The article deals with the topic of performance pressure and the relationship to mistakes and fear in the startup and business environment. It shows how education oriented towards perfection and performance weakens the sense of self-worth and leads to long-term dissatisfaction despite objective success. Our psychotherapist, Milan Pavlíček, explains why stress reduces brain performance and how, on the contrary, satisfaction and psychological well-being are the keys to sustainable success. An important part of the text is working with mistakes. Their acceptance, analysis, and sharing are tools for learning, innovation, and team development. For a specific example, he maps the most common fears of startup founders, supplements them with specific data, and offers practical ways to deal with fear without paralysis.

Right at the beginning, I will deliberately borrow a quote from Master Yoda from the cult film Star Wars: Episode VIII, The Last Jedi: “Failure is the best teacher.” He encourages Luke Skywalker to teach his students from his own mistakes. And it is clear that you do not have to be an expert on the Star Wars series to understand how fundamental his idea is.

Starting a startup is one of the riskiest things you can do in your life. You're putting your full effort into it, both professionally and personally, with the prospect of an uncertain outcome. And from the very beginning, you may face all sorts of challenges, obstacles, and fears.

Performance pressure and stress prevent us from being happy

Many of us grew up in environments where mistakes were not tolerated. Whether it was at school, in hobby groups, or in our family. The ever-present pressure to perform, but also the punishment if we failed, forced us to perform at a high level at all times. 

That's why many of us carry within us an insufficient sense of self-worth, and our inner child still craves the praise it has never (and will never) received. It is not uncommon for us to find that even as we climb the social ladder and our socioeconomic status increases, we are still as far from satisfaction internally as we were at the very beginning of our working careers. 

We desire success so much that we deny ourselves the feeling of well-being and happiness until we achieve it. But the opposite is true with success and happiness.

Long-term stress and pressure to perform prevent us from performing optimally; we are more prone to mistakes, and we are slower because the brain, flooded with stress hormones, does not work as well as it should. However, if we have our mindset set in a way that makes us feel satisfied and happy, the brain works at full speed, and the path to our success is shorter and easier.

“He who has never made a mistake has never tried anything
new. ” 
 

Albert Einstein

The biggest mistake is not talking about mistakes.

We all make mistakes. That’s a simple fact. They are an integral part of our ability to learn. So the first thing we should do is start admitting them. Reframe the mistake from an undesirable phenomenon into an opportunity for our growth. In many startups, this is the only way to move forward. Especially if you are moving into completely new waters, where the path forward is riddled with trial and error.

Once we admit the mistake, let’s analyze it in detail:

  • How did the mistake happen?
  • Which step in my process was wrong?
  • Did any external influence affect the creation of the mistake?
  • How can I catch the mistake earlier/in time next time?

There is no shame in talking about mistakes. On the contrary, it is desirable to share your
experience openly with other colleagues. This is the only way to build innovative and extremely
successful teams. If you present and describe the mistake well, others will learn from it.

The most common fears in a startup and how to deal with them

Statistics say that up to 9 out of 10 startups fail. Starting a new business is simply a big risk, and this high number of “failures” does not give founders peace of mind. No surprise. You are risking your career and your reputation, exposing yourself to the core, and investing a lot of money, energy, and time.

3 most common reasons for startup failure:

  • 34% of startups fail to meet market demands with their product
  • 18% will not build a high-quality team
  • 16% will run into financial problems

Therefore, it is completely understandable that you may face various fears on your path to success. The important thing is not to let them paralyze you or even make you back down from your business plan.

The most common fears in a startup include:

  • fear of the unknown
  • fear of business failure
  • fear of "being seen"
  • fear of losing money and status
  • fear that your idea is not good enough

Accept your fears, name them, and ask yourself what the worst that could happen is . Focus on your idea, what your clients want, learn about the market and your competitors, and learn as you go.

Many companies made mistakes at the beginning but learned from their mistakes and have been operating successfully for years.

And if in some situation you are overcome by intense fear, close your eyes, take a deep breath, and become aware of the emotions you are currently experiencing. With each exhale, try to “shake them off” and let them out. An effective tool for long-term fear is also psychotherapy or psychological consultation and the perspective of an independent expert who will help you get back on track.

Finally, I will allow myself a personal experience that I gained in a startup. Forget the saying “just don’t give a f*ck about it.” It will probably happen, and not just once. The most important thing is to dry yourself off, get dressed, and move on.

About the author: 

Milan Pavlíček, psychologist & HR manager

He studied philosophy and positive psychology at Charles University 
completed comprehensive psychotherapeutic training, and works
professionally mainly in HR, psychotherapy, and coaching. He sees
therapy as care for the soul and a way to grow towards a happier and
fuller life.