Facing the Fear: How Terror Management Theory Plays into Running a Small Business

Facing the Fear: How Terror Management Theory Plays into Running a Small Business

Have you ever heard of Terror Management Theory (TMT)? No, it’s not about managing a horror movie marathon, though that could be fun. It’s actually a psychological concept that might just shed some light on the highs and lows of running your own gig.

What’s Terror Management Theory All About?

Developed from the existential thoughts of cultural anthropologist Ernest Becker, TMT is basically the idea that a lot of our actions are motivated by an underlying fear of our own mortality. Yup, deep stuff! The theory suggests that this fear influences our behavior in significant ways, particularly how we cling to our cultural beliefs and values for comfort and a sense of immortality.

So, How Does This Connect to Running a Small Business?

Imagine this: You’re at the helm of your own enterprise. It’s thrilling, fulfilling, and oh, occasionally terrifying. Whether it’s worrying about cash flow, competition, or just the overwhelming pressure of it all, running a business can often feel like a roller coaster that’s a little too real.

Mortality Salience in the Business World

In TMT terms, "mortality salience" is when you’re reminded of your mortality, and let’s face it, business risks can definitely do that. Every big decision or financial risk might nudge you to confront the ultimate stakes – not just business failure, but existential fears about what it all means.

Clinging to Cultural Worldviews

As a business owner, your cultural worldview might be your business philosophy or the entrepreneurial values that you cherish. These are your shields against the terror of uncertainty. They give you a framework to operate within, much like societal norms do on a larger scale. They tell you that despite the risks, you’re doing something worthwhile, something that can leave a mark.

Self-Esteem and Your Business

According to TMT, high self-esteem can protect us from our deep-seated fears of insignificance. In business, when you achieve something great—like landing a major client or receiving glowing feedback—it boosts your self-esteem. It makes you feel like a capable captain steering your ship through stormy seas, which in turn, buffers against those existential dreads.

The Role of Legacy

Building a legacy through your business can also be a way to manage terror. It’s comforting to think that even though we won’t be around forever, our businesses might outlive us, carrying our name and our impact into the future. It’s a form of symbolic immortality, really—a way to cheat death, even if just a little.

So, What Can You Do With All This?

1. Embrace Your Business Values: They’re more than just guidelines; they’re your psychological armor. They protect you from existential anxiety by giving your business pursuits a deeper meaning.

2. Celebrate Your Wins: Every win, big or small, boosts your self-esteem. It reassures you that you’re making an impact, which is a great way to manage terror.

3. Build Your Legacy: Focus on what you want to leave behind. This can be a powerful motivator and a comfort, helping you navigate the fears of uncertainty and mortality.

4. Connect with Others: Remember, you’re not alone in this entrepreneurial journey. Connecting with other business owners can provide emotional support and reinforce your business values through shared experiences.

So, next time you’re feeling the weight of entrepreneurial anxiety, consider how Terror Management Theory plays out in your own business. Recognizing these dynamics can help you manage fear more effectively and keep pushing forward with a little more confidence and maybe a bit less existential dread.