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Wednesday, December 5, 2012

How to Overcome Your Fear of Risk

Several years ago I realized that achieving the wealth and life potential that is beyond what I had at that moment was going to require that I push the boundaries of what I knew, had or was doing. This meant that I would have to face risk and fear to embark on a path that I had never traveled. I learned that overcoming the fear of risk was going to be crucial if I wanted to move forward.
tips to overcome your fear of risk
If you have ever been or currently are in a similar place you need to realize that there will be no change unless you cause things to change.

A new path might look very risky if you are looking at it from the perspective of a stable, predictable and common life.

But when you decide to break from the mold, when you decide to become whatever it is that you want to become that does not match what you currently are, then you will have to overcome the resistance to pursue that life that you want to achieve. This is when overcoming fear comes into play…

Because believe me, there will be fear…

The fear of trying something new where you might fail. The fear of loosing money, respect, your self-esteem, your time and on and on…

As an example, for me that meant, plunking down hundreds of thousands of dollars into real estate, in the worst real estate market in my lifetime, with no guarantee whatsoever of success or of even getting my money back.

And that this investment was going to have to feed my family because now that I had been laid off I had no steady paycheck coming in.

I want you to stop for a second and think of all the possible implications of this scenario…all that could have gone wrong.

You got to understand that I have had a lifetime of safe and predictable… That getting a paycheck twice a month was the only way I had ever known of earning an income. Breaking that ceiling took a lot from me.

You might wonder how I did it…

I wish I could tell you I did this or that thing and that was the solution, but it was not. Instead it was a process of one day at a time breaking barriers. 

Learning how to eliminate deal with fear. Training myself to act in spite of fear, risk and uncertainty.

You see, its important for you to understand the cost of facing your fears but what I REALLY want you think about…what you must absolutely consider even more is…

What is the cost of NOT facing your fears?

Where will you be in 1, 10, 20 years?...

What will your life be like if you keep on doing what you are doing, associating with who you are associating and thinking the way you are thinking?...

If the answer to these questions, scares you as much as it scared me then I am confident that you will now find the courage to face your fears. You can use the following tips to get started:

Start With Small Steps – do something today or tomorrow that you are a bit uncomfortable to do. It can be something as simple as going up to a person you don’t know and starting a conversation.

Going to the big boss in your company and just saying “Hi, how was your weekend?”…

Signing up for a 5k race or mini triathlon…

Signing up for a free account to start a blog (I assure you, you do have something interesting to write)…

Find and meet an experienced real estate investor in your area…

In short, just find something that scares you and think of a small, simple step you can do immediately to start overcoming that fear.

Step it Up a Notch – Once you do the above one time go for more:

Go to the mall and ask a man/woman for their phone number (you can throw it away if you are already in a relationship)…

Ask the boss out to lunch…

Sign up for a 10K race or even a Marathon…

Start looking for potential real estate investments in your area and analyze them…

Visualize Yourself Overcoming Your Fear of Risk – Once or twice a week sit down in a quiet place, close your eyes and try to form the clearest, most complete picture in your head of you overcoming that fear. Try to imaging what it will look like, how it will feel, what it will mean, how you will behave, etc.

You attract what you think of…

Think Of The Worst That Can Happen – take a piece of paper and write down the worst case scenario. What is the worst that can happen if you did what you are afraid of doing. Think of the implications and different scenarios if everything went wrong.

Once you let this out and put it on paper you will feel relieved because first you will see that some of the worst case scenarios are so far fetched that they will likely not happen. Two, you will now be able to establish contingency plans for worst case scenario.

Find And Meet Others That Have Done What You Want To Do – whether it be someone who has flipped houses or someone who has run various marathons. When you meet the people that have achieved what you want you will realize that they are as normal and common as you and there is nothing special about them.

This was very powerful for me and made a BIG difference in my head when I started meeting other investors and see how they were succeeding in real estate and that when they failed it was not the end of the world.

Educate Yourself – fear is usually a product of ignorance. Whether it be investing or flying an airplane, once you educate yourself and learn how things work your mind starts seeing how you too can do it.

Make Yourself Accountable – let others know what you are trying to achieve, what fear you are trying to overcome and let them hold you accountable. Whether it’s loosing weight, starting a new business or flipping a house, being accountable to others can be a powerful motivator and of course, avoiding public humiliation helps too.

You can do this by simply telling your friends, posting it on Facebook, putting it on your blog, etc. The point is to use the energy from others to help you overcome your fear.
Having a fear of risk or of something else is normal but not taking action BECAUSE of your fears will only lead to a life of regrets. I hope you find these tips useful and they can help get you started reaching for more.

Question: How have you been able to overcome your fears?





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