Living by Doing

I'm a single founder working on improving my business and myself.

30. December 2013 00:01
by Anders Thue Pedersen

Fear and Entrepreneurship.

30. December 2013 00:01 by Anders Thue Pedersen | 0 Comments

I'm afraid all year round, afraid I'll fail, afraid I'll go bankrupt, afraid the users won't like my software, afraid my peers won't like my ideas and afraid that everyone will figure out I am an imposter.

I have fought the fear. I have been running from the fear. I have tried to barricade me away from the fear.

Nothing worked.

This is what i feel like when I am afraid.

This is how I feel like when being afraid!

Then I did the only thing left to do, I started to talk about the fear. I told friends, family and business associates about my fear.

I told my friends how afraid I was of not being a good programmer, employee, and friend. One said, "You are the fastest programmer I know", another said "It sounds like you are an excellent boss".

I talked to my wife about how I was afraid where everything was going and how I had no plan, and she said that in her optic I was good enough and a great employer.

I even talked to an employee and told him how I at least once a week on my way to work thought about if today would be the day they (the employees) called my bluff and figured out I was afraid if what I did was okay. He did not believe me and told me that I was so sure and so confident.

I was much less afraid before my 'success', when my watermark software revenue was 1/4 of now I was very calm about it, but now I am afraid it will go away and never come back. I am afraid I cannot 10x my revenue and I am afraid someone will call my bluff.

See a red thread?

Lots of fear, lots of anxiety, many sleepless nights.

Then I talked to (one) my mastermind group and one of the others told me how he was afraid to raise the price, what if the users revolted, what if the traffic went away. Another said that now (just recently) that he had started to get a (recurring) revenue, he had started to be afraid to lose it.

Then I finally understood fear.

It is not a bad thing, it is not something to avoid.

Fear is what drives me, fuels me and make me choose to move forward instead of procrastinate.

Fear of being a bad programmer makes me create better programs, faster.

Fear of my employees calling my bluff makes me read and learn how to be a better leader and how to create the best working environment in Denmark.

Fear of losing my revenue makes me create new and better software, better copy, better website design, better GUI. This also makes me listen to my mastermind groups, and to study stuff I previously was afraid to study because I was afraid I would never learn it.

Fear and being afraid is still a large part of my life, but I have an agreement with my fear now, I listen to it respect it and it no longer controls me.

Happy New year!


So how do I use my fear to improve my TSR revenue

First of all I come up with ideas to improve my revenue:

10 Ideas for improving my revenue (if you want 10 FREE ideas for your website/program/Saas/etc.)

  1. Thank you for the purchase auto email
  2. Video manual
  3. Video how to's
  4. Blog about watermarking / photography
  5. Link building using my list from linksspy list
  6. Create a SaaS app out of my online watermarker
  7. Create a free Facebook photo upload program
  8. Create a free Flickr photo upload program
  9. Add more "Please upgrade" to the free version
  10. Open a "buy now" page when trying the PRO version

Status of my 10x quest.

Last week

I have done absolutely nothing since last week, I threw my fear of the slow numbers out the window and enjoyed the holidays.

Next week

Still on vacation I don't think I will work either.

The numbers

Down again now at 2.08x, I am really really afraid it's permanent!

Week Orders Revenue Visits Conversion
40 147% 181% 109% 135%
41 212% 275% 111% 190%
42 141% 185% 105% 135%
43 206% 254% 113% 182%
44 171% 215% 107% 159%
45 229% 285% 104% 220%
46 247% 313% 109% 226%
47 300% 395% 106% 283%
48 312% 413% 96% 323%
49 300% 423% 96% 312%
50 271% 349% 93% 291%
51 218% 303% 85% 256%
52 171% 209% 75% 228%
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