The Four Major Money Fears That Hold Entrepreneurs Back

As entrepreneurs, it’s common to have fears and ‘blocks’ around money and earning. If you’ve ever struggled with any of the following…

– Living “client to client” and never feeling like you have enough

– Undercharging for your services or feeling like you work too much for too little

– Being afraid to step outside your comfort zone and take risks that might put more money in your bank account

–Being wildly perfectionistic, struggling with imposter syndrome or constantly feel like you'll be "found out" one day

…you’re not alone.

In fact, each of the above scenarios is tied to a money block or fear that can hold you back from reaching your full potential and achieving the financial success you desire.

In this post, we'll discuss the 4 most common money fears that most entrepreneurs struggle with, and how to start overcoming them today.

1. Fear of Not Being Good Enough

The fear of not being "good enough" is hands down one of the most common money fears for entrepreneurs. Not shockingly, it usually stems from a lack of confidence in your abilities.

This belief can be especially potent for women. And it can manifest in loads of ways, from undercharging to straight up self-sabotage (like not showing up on social media, saying ‘no thanks’ to opportunities that could exponentially grow your business or income or literally ignoring inquiries in your inbox).

This is an undeniably tough fear to overcome. But it's important to remember that you are just as capable as anyone else. You are unique and have something valuable to offer to the world.

Everyone else who is successful has likely struggled with their own doubts about who they are and what they bring to the table. But the truth is everyone has their own unique talents and skills, and there's no reason why you can't be successful too.

2. Fear of Failure

Another common fear? Failure. 

From procrastination to self-doubt to full-blown imposter syndrome, the fear of failure can be a big barrier to financial success and permeate every aspect of your business.

Unfortunately, failure is inevitable as an entrepreneur. It’s a natural part of the journey. Everyone experiences setbacks at some point. Everyone gets rejected, everyone has a launch that doesn’t go as planned and everyone winds up creating a course, video or blog post they feel embarrassed by later.

It’s what you do after the setback that truly matters. Do you give up–or do you extract the lesson, get up and try again?

Don’t get me wrong: Failing hurts, but taking risks, putting yourself out there and trying new things is also the only way to secure financial success & abundance.

At the end of the day, every failure is actually an opportunity to grow and learn so that you can eventually achieve your goals. So why not try to embrace it?

3. Fear of Success

Alternatively–believe it or not–the fear of success can be just as strong (and heart-palpitation-inducing) as the fear of failure.

I won’t lie to you: success can feel almost as uncomfortable as failure. Both success and failure are out of our control. Both of them require us to leave our comfort zone. And both of them [X]

To truly ‘get over’ this block, you have to cognitively recognize that success is a positive thing that you deserve.

You also need to simply experience it. Know that you might feel weird or awkward about it. Know that you might feel like an imposter. Know that it might take a while for success to feel ‘like you.’ But also know that you are deserving and that over time, success will feel better & better–and you’ll feel more and more confident.

And if you really want to kick things up a notch, take time to visualize your success and what it would look like. Dropping into the ‘feeling’ of success (before it actually happens) can help you get more comfortable with it & overcome any doubts or fears about what it will be like.

4. Fear of Being Sales-y or Pushy

Ever drafted a sales email or social media post and thought, “Ugh, I can’t post that. It’s too salesy!”

If so, you’re definitely not alone. One of the most common (and crippling) money blocks for entrepreneurs (especially women) is the fear of being sales-y or pushy.

It's completely natural to want to avoid coming off this way. We’ve all been on the receiving end of an aggressive sales pitch–and we all know how not-so-fun it feels. There’s a lot of icky marketing out there, and you do want to be cautious that you’re not crossing that line.

That said, sometimes fear of being pushy or salesy is really just a fear of rejection. We worry that people are going to laugh at us, tell us no or think we’re a total fraud.

But if you’re not promoting your business enough and asking for the sale often, you’re leaving loads of money on the table. Instead of shying away from self-promotion, you can try reframing it and thinking of it as sharing your passion with your audience.

If you believe in your product or service and how it can help your audience, you actually owe it to them to share it. You’re offering a unique service that’s providing value to people’s lives. If you keep your messaging honest and informative, it’s hard to sound gimmicky. And prospective clients will be sure to sense that!

Don’t let money fears hold you back.