Love Law Firm - October 2018

BUILD. NOT BILLED.

TM

OCT 2018

BUI LDING BLOCKS

www.lovelawfirmpllc.com 516-697-4828

ARE YOU AFRAID OF YOUR BUSINESS? Learn to Control the Fear

One of the things that makes Halloween so much fun is that we all know it’s make-believe. Last year, our family dressed up as a cadre of pirates. Not one person asked me how my pirating on the high seas was going. They know I’m not a pirate in any sense of the word, and we all had a blast. For most people, Halloween represents a kind of controlled fear. When we go to a haunted house or dress up as something scary, we know we’re perfectly safe. We’ll go out, have fun, and the next day, it’s like nothing ever happened.

after the relationship has soured. I try to untangle the mess and make it better (or something resembling better) for the parties involved.

Another bad decision people make out of desperation and fear is to simply quit. Yes, sometimes we do need to walk away from a situation, but all too often, people quit just before a big win. It’s not always easy to see a big win coming, but it can be there waiting.

There’s a quote from Nelson Mandela that I’ve always loved: “I never lose. I either win or learn.” When something isn’t working, turning it into an educational experience can make the difference. You may want to quit, but you have to ask yourself if it’s really worth it. How can you learn to control fear? It’s not easy, but here are a few steps you can take to put fear in its place: 1. Learn from past mistakes. Look at your own mistakes and the mistakes of colleagues, peers, and those who have found success. Today’s most successful entrepreneurs have all made huge mistakes, but they learned and grew. When you understand what it takes to overcome a mistake and a fear, you can press forward with confidence.

When it comes to being an entrepreneur, a lot of people end up dealing with uncontrolled fear. For some folks, it’s like Halloween every single day, with a few major exceptions: It isn’t fun, and there is a real fear that something may very well go horribly wrong. It’s more like living “Halloween” the movie than going out for a Halloween night with the family. After they make a decision, they may worry, with thoughts like “What did I do?” They worry about their future, their family’s future, their life savings, and so on. Being an entrepreneur means dealing with stressor after stressor, and it can feel a bit like jumping out of a plane with the hope of finding a parachute on the way down.

Successful entrepreneurs control their fears.

2. Remember that it’s just business. There is more to life than just your work, though it may often seem like it’s all the same. I’m a huge proponent of loving and living your job, but you do have to draw a line. My law firm means a lot to me, but the thing that truly defines who I am is my family. I know that should everything go south, I have people who love me and will stand by me, no matter what. 3. The more you know, the better you are. Successful people study other successful people. It’s not just about learning about their mistakes, but looking at other successful people as a whole. Look at how they think about problems

When you’re backed into a corner — when you’re afraid — you are more likely to make bad decisions.

You may decide to lower your price to beat out a competitor, but as you know, a race to the bottom has no winners. Being the cheapest option doesn’t matter because someone will always be able to undercut you. I have also counseled people who decided to bring in business partners in the hopes of utilizing a new partner’s resources or business acumen. When it’s used as a desperate measure, it often leads to disaster. I’m brought in after the fact —

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