Overcoming Your Fear of Entrepreneurship

Other panelists were Jason Feifer, Editor in Chief, Entrepreneur Magazine, and Cynthia Rubio, Co-founder and CEO of Radiant RFID.

“The worst thing is to not try,” said Islam, who also credited his mentors for helping him make the leap 13 years ago.

If what is holding you back is internal, wrestle it out. For an external reason, use your resources to help you, Islam said.

Stop shooting for perfection as you start your business, panelists advised.

“Know (that) the first time you do something won’t be as nearly as good as the tenth time you do it,” said Feifer. “You are defined by how you evolve."

Other tips to succeed include:

Know your motivations. Own your passion so it drives you to work harder; “pedigree and experience” matter less, said Rubio.

Tap the expertise of others. Do not develop your business plan in a vacuum. Talk to people you trust, advised Islam.

Seek media coverage. Tell your story. “White men are the best at reaching out to tell their stories,” said Feifer, noting another challenge at his magazine is  "inside the building is still white people” who lack connections to business leaders of color.

Examine your anxiety. To relieve it, think about a solution to whatever is bothering you or stop moving forward until you have one.

Know your strengths so you can fill in the gaps. “Focus your energy on that and trust people who are experts to carry freight,” said Islam.

Adopt a growth mindset. “Do something because it moves you forward even if you don’t know where that forward is,” said Feifer. Learn by doing.

Check your fear. You may fear success. “I didn’t know how success felt,” said Rubio. Have your own measure of what you want to achieve.

Admit you don’t know all the answers.

Seek help from your mentors.

Lead with your work, not your minority status.