15 Jan 2022
FOMO in Entrepreneurs
The ‘Fear Of Missing Out’ primarily known as FOMO is a digital lingo/ slang used by people on Social Media. It is being recognized worldwide, and now is used to describe a human tendency. FOMO has now also taken over the business world.
What is FOMO?
The feeling of missing out from something that others are doing, or something better than you. Most adults feel this phenomenon and have tended to experience it pretty often due to the increasing competition
Usually, those who go through experiencing FOMO always crave for more and want to acquire things that others possess, such thoughts instill anxiety and depression in them.
Let's check how FOMO has been affecting the entrepreneurship life-
Opportunities related to FOMO
Entrepreneurs believe there’s nothing worse than missing the opportunities that could have changed their life and business forever. It could have anything: an idea, a new project, an investor, or anything that could have uplifted their business to some level. The ‘if’ thing haunts them like anything and makes them anxious about their upcoming ventures too.
However, accepting your faith and believing in your destiny is really important. No matter how much you try there will always be some opportunities that you’ll have to miss, rather than regretting over them, always be grateful for what you have built and continue to do that with the same zeal.
Entrepreneurs also suffer from FOMO on success
When our competitors start growing, the need to taste success strives more in us. There’s no harm in thinking big of achieving something big, but success takes its own time to pay your hard work off. Having a mission to be there is one thing and not working enough to achieve it is another. The efforts to make it to the top should keep going, without the fear of whether you’ll ever be able to make it till there. Slow and steady always wins the race, and wanting instant success is foolishness. It is completely fine to take small steps to begin your journey.
FOMO of being invested to company
Entrepreneurs fear leaving their business, even if it is failing to meet the targets, revenue, and profits they expect. They have invested time, energy, money, and emotions in it.
This type of manner is also called the ‘sunk cost fallacy’ wherein they continue to run or work upon their company even when it is just not the right thing to do. They stay connected to a business in the fear of missing out on possible success it may bring. A thought like this is only making the time and investment worthless, it can be put to use at some other better place.
FOMO in entrepreneurs has been claimed to be an epidemic as many millennials suffer through it. Having FOMO about the smallest thing is natural, we all experience it but, if it makes you depressed, stressed, restless then it is a point of consideration as it will continually affect the physical and mental well-being of a person. You can never bid upon your future whether things will work out or not. However, consistency is the key and hard work is the only way to reach your goals. Learn to accept your fortune and move ahead of it.
FOMO of taking your business to greater heights can be solved if you get in touch with Cosmocrat Software Solutions, we provide the finest assistance as a Digital Marketing Company and the work provided by us is top-notch.