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Fear of Business Ownership: What Are You Really Afraid Of?

Fear of business ownership is normal, and the first step is naming which fear you have. Fear of losing money and fear of failing in front of friends and family are two very different fears, and each one needs its own answer. If you have been stuck for a while, start by turning your assumptions into facts.
Lisa Welko has owned businesses for about 30 years. She talks through the two fears that keep people stuck and how to tell which one is yours.

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What's covered

0:20  Meet Mr. Ego, the loud inner skeptic

0:49  Two different fears: money and failure

1:30  Where a fear of failure comes from

2:06  Treat fear as a yield sign

Is it normal to be afraid of buying a business?

Yes. Lisa Welko has owned businesses for about 30 years, and she says fear is a normal part of looking at ownership. What most people miss is that not everyone is afraid of the same thing.

Some people have a loud voice in their head. Lisa calls it Mr. Ego. Mr. Ego talks big and pokes holes in everything. Every model looks flawed, every brand seems to have a catch, and every number looks wrong. Lisa gets it. The work is to dig a little deeper and find the real fear underneath.

What if your fear is about losing money?

Fear of losing money and fear of failing in front of friends and family are two very different fears. They need two very different answers.

If it’s money, start with the facts. Look at the investment. Look at the support system. Then talk to owners who are already doing it. They have already had their own shaky hands write the big checks, some a few months ago and some years ago. Ask them what they were afraid of and how they worked through it. Every franchise, owner and market is different, and experiences vary.

What if you're afraid of failing?

Then the question is why. Maybe you watched someone close to you lose a business. Maybe someone told you that you’re not the business type. Or maybe it’s more about what other people will think.

Once you name the real fear, you can usually work through it. Education helps, and so does finding the gaps in what you know.

Please don’t think about fear as a stop sign. Think of it as a yield sign. – Lisa Welko

A yield sign asks you to slow down and look, not to quit. Maybe you’re assuming something. Assumptions aren’t facts. Facts come from doing the work.

Not sure whether this applies to you?

That’s the kind of thing a 15 minute call sorts out quickly. No cost, no pitch.

Who this is for

This is for people who have been looking at business ownership for a while and feel stuck, especially first-time owners who want to understand their own hesitation before they talk to any brand. It is not for someone looking for a ranked list of franchises or a promise about how a business will perform.

Questions people ask

Is it normal to be scared of buying a franchise?
Yes. Lisa Welko, who has owned businesses for about 30 years, says fear is a normal part of looking at ownership. What differs is the kind of fear. Some people fear losing money, and others fear failing in front of friends and family.
How do you get past the fear of buying a business?
Start by naming which fear you have, because each one needs a different answer. For money fear, look at the investment and the support system, and talk to owners who are already doing it. For fear of failure, ask where it comes from. Then replace your assumptions with facts by doing the work.

Stuck at the stop sign?

That’s exactly the conversation we have all day. Fifteen minutes, no cost, and no obligation.

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What Is Franchise Onboarding Like in the First Month?

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Can You Own a Semi-Absentee Franchise and Keep Your Day Job?

Yes, you can own a semi-absentee franchise and keep your day job, if the model is built for it. Matt and Aubrey Hale chose a salon suite model that could open about two months after signing, with hiring and training support from the brand. It matters most for working parents who want to own something without quitting first.