4 Reasons Why You Should Stop Worrying About Your Shop Failing

Before I launched my Etsy courses, I sent out a survey to over 50 individuals who said they were thinking about starting their own Etsy shop. 

One that survey, 1 out of 2 people said one of the top reasons why they hadn’t started their Etsy shop is because they’re afraid it will fail.

It may not seem that shocking, but for me as a business coach and business mentor, it tells me I have some work to do. 

Have you heard this statistic before? “90% of businesses fail within the first year.” 

As a business owner, that statistic makes me feel scared and insecure. That makes it seems like the odds are definitely NOT in my favor, so why should I try?

But guess what. 

It’s not actually true.

The US Bureau of Labor Statistics shows that the number of businesses that actually fail in the first year is closer to 20%

Okay, that sounds much better. 

But here’s the message I would like to shout from the rooftops. 

STOP WORRYING ABOUT YOUR BUSINESS FAILING. 

Stop letting the fear of failure be in your top reasons for not starting your business. 

Why you should stop worrying about failing:

1. Worrying about failure comes from a scarcity mindset and is designed to scare people away from trying to change their own lives.

2. The definition of “failure” is subjective. You could say: 

fail = they ran out of money 

fail = their product didn’t sell well

fail = they decided to close their shop

 All 3 of those reasons for “failing” are VERY different. And I don’t think any of them equal “failure” at all.

3. It doesn’t tell you WHY

A business owner closing up shop doesn’t tell you anything about WHY a business closed. 

Did the business owner encounter an unforeseeable situation that was totally out of their control? Did they decide they wanted to spend more time with their family? Were they totally dishonest and embezzling money or participating in criminal activity? All very different reasons for why they “failed.”

4. It doesn’t tell you what happened NEXT

What did this business owner go on to do next? Did they start a new business? Did they try a new product?

Did they learn a valuable life lesson for themselves? Were they an example for others to learn from? If so, you could argue that their “failure” wasn’t a failure at all.

If the fear of failure is something that’s keeping you holding you back from starting your business, I can tell you the one sure way to make sure that you will never fail. 

Keep going. 

The only way you can fail is if you quit and stop trying. 

Stop letting the fear of failure hold you back.