While Australians are entrepreneurial is fear dominating the desire to achieve success in business?
The 2013 Amway Global Entrepreneurship Report surveyed over 26,000 people across 24 countries. Australia had the third highest rate of positive sentiment towards entrepreneurship with 84% of respondents, only 3% behind world leaders Finland and Denmark and 14% above the international average.
However amongst these entrepreneurs a fear of failure was cited by just over half of Australian respondents (53%) as an issue, also of concern was financial burdens up to bankruptcy (38%), threat of an economic crisis (20%), threat of unemployment (15%) and legal consequences such as lawsuits (12%).
In today’s economic environment, people are hesitant to leave their jobs to leap into the unknown landscape of business. However I believe, if done well, business can be the safest place to be. If you have a great business or product, know how to engage with your target market and have good systems and processes, you can make it happen.
Some people are just as concerned with the fear of success. Many people don’t feel they deserve success or are not quite sure how they would cope with the extra responsibilities associated with building a business. There are many perceived fears that get in the way of risk taking in business - what is your barrier to success?