How To Overcome Fear of Failure in Real Estate Investing

I once heard that being a real estate investor is much like riding a roller coaster. While both can be thrilling for some, they can be equally as terrifying for others. Interestingly, the most reported fear for both situations is basically the same. A majority of coasterphobics, as they have come to be known, report that they are most afraid that the coaster will fail mid-ride. Likewise, according to Entrepreneur Magazine, entrepreneurs most fear to fail in their business endeavors. Sadly, both fears result in hesitation and even avoidance of a situation. Yet just as psychologists offer strategies to overcome phobias such a riding an amusement park ride, there are many strategies to move past our fears in our professional lives. Through my research and experiences, I have developed three easily applicable and very effective strategies to get you through the ups and downs, twists and turns, on your business adventure.

First, to begin to move past your fear, you must understand the fear and its roots causes. Perhaps you are new to the entrepreneurial game, and you worry that your lack of experience may hinder your success. Or maybe, you have tried before and did not succeed. By determining the causes of your anxiety, you are already giving it less control. It is no longer this unknown nagging situation that controls the direction you are moving. The goal, though, is not to try to eliminate the fear as it is a natural part of life.

Instead, the aim is to recognize the underlying causes of your fear and begin to work through each. This, in turn, will alleviate the crippling sensation that often holds back potentially successful individuals.

Once you have determined what is motivating your overall fear, you can then begin to practice a method known as systematic desensitization. Originally developed by a world-renown psychologist to help people overcome phobias, the process emphasizes a gradual exposure to the source of fear. Remarkedly, I have discovered that the same principle can be applied to professional trepidations. For instance, an investor may set a goal to buy a million-dollar property but finds himself hesitant to even start. To overcome the hesitation, which is rooted in fear, he can start by buying less expensive properties. Likewise, he may wish to visit and research the million-dollar properties, not to buy, but to become more experienced and familiar with such places. He is slowly desensitizing his fears in small increments, alleviating his reluctancy. Eventually, he will feel experienced and knowledgeable, and most importantly, ready to invest in his dream property.

Lastly, it is vital to use what you consider small successes to build momentum. Often, people overlook these achievements and focus on all the things that were not accomplished. Take time to visit these small steps in the right direction because they are ultimately leading you toward your most important goal. Best of all, these achievements that seem of lessor value, are what builds the momentum to keep moving. That momentum manifests itself in both confidence and motivation, leaving fears behind.

Much like riding a roller coaster, you will experience the ups and downs in your business that have the potential to throw you off track. However, by practicing my strategies your motivation and success will go up while your stress and anxiety go down.