Some years back I took my niece to the Brisbane Show. She, being a kid, wanted to go on all the adrenalin inducing rides. I, being an adult, wanted to play it safe and watch. Despite being older, wiser and in charge, I soon somehow ended up zooming and spinning upside down through space. While most of the experience is a blur, I do remember a moment of clarity when she interrupted my screaming with the following advice, yelled with a mixture of authority, concern and sadistic glee, Uncle Greg, face your fear!

Face my fear? She was absolutely right! What exactly was I screaming about? The irony of a primary school student telling a qualified psychologist to face his fear was not lost on either of us and she still teases me about the incident to this day.

Risk assessment

Fear is a physical and mental experience where we believe our safety is at risk. The mind reacts accordingly, telling the body to get the hell out of there or get ready to defend yourself, which is why our heart starts beating fast and we tense up. As the blood moves from our brain to our muscles our thinking switches from being logical and strategic, to being emotional and tactical. We focus on what could go wrong, often exaggerating this to what WILL go wrong. We can also become defensive and emotional. This largely happens unconsciously as a fight/flight reflex. All we know is we feel uneasy and stressed.

Everyone experiences fear in daily life to a greater or lessor extent, depending on their personality, what’s happening in their work or home environment, and the types of decisions they need to make. The truth is, except for extreme conditions where our physical safety is indeed at risk (like flying through the air upside down), too much fear is counter-productive and causes our imagination to run amuck. This is why it is sometimes referred to as False Expectations Appearing Real.

When big decisions are to be made, such as buying a business, or making an investment, a mild amount of fear or caution is useful. We definitely should not allow ourselves to be seduced into a false sense of safety by the sweet talkings of a kind and reassuring salesperson.

However too much fear or caution can lead us to overstate the risks and procrastinate. There is no way we are going to succeed in life, especially in business, if we avoid taking some risks. The key is to weigh these risks up by asking ourselves the question, what realistically is the worst thing that could go wrong, and if it did, could I manage this? By thinking clearly and objectively we can also set up a plan B, should things not turn out the way we would like.

Take action

Here are some other tips to help you control the fear factor and make good business decisions:

• If you are experiencing physical symptoms, slow down your breathing, focus your attention on something in the immediate environment and give yourself a little pep talk. I say to myself Settle down Greg, it’s all okay. You can work this out.
• Write your fears down on a sheet of paper and then challenge them with an alternative explanation, as though they belonged to a friend. For example the fear, This customer hasn’t rung back, he doesn’t like me could be challenged with, Just because he hasn’t rung yet, doesn’t mean he won’t. And who says he doesn’t like you? Maybe he’s just busy.
• The most useful way to deal with a fear is to take some sort of action. In the above example, pick up the phone and call the customer. It’s not that hard. Just do something!
• Talk your fears through with a trusted colleague or friend. Talking helps to give things perspective and the emotional support can be useful in helping you summon the courage to take action.
• Ask yourself the question, If I had no fear, what would I do? This will help you to get more objectivity around your thinking.
• Finally, as my wise niece says, just face your fear. Fears are like bullies – they feed on doubt. When you confront them they usually go away.