Have you ever wanted to start a side hustle, launch an online business, or quit your job, but fear held you back? Maybe you’ve worried about failing, looking foolish, or losing money. If so, you’re not alone.
Fear is one of the biggest obstacles to success, but there’s a powerful way to break through it. It’s called Fear-Setting, and it’s a mental exercise created by Tim Ferriss to help you move past fear and take action.
The Fear Setting exercise is something that I’ve done, and it genuinely changed my life!
What is Fear-Setting?
Instead of just setting goals, Fear-Setting forces you to define your worst-case scenario, assess how you’d deal it, and weigh up the cost of doing nothing. It helps you see that most fears fall into one of three categories:
✅ Unlikely to happen
✅ Preventable
✅ Reversible
And more often than not, the risk of inaction is far greater than the risk of failure.
How Fear-Setting Changed My Life
A few years ago, my life was comfortable. I had a solid career which I hated, but I was earning good money, I had a roof over my head, food on the table, and a nice car. I had everything I was “supposed” to want.
And yet… something felt off.
I could have easily spent the next 10 years in the same position — safe, stable, and unfulfilled. That thought scared me more than any financial risk ever could.
I had always dreamed of traveling and achieving financial independence, but I knew that staying where I was meant those dreams would never become reality. That’s when I stumbled across Tim Ferriss’ Fear-Setting exercise. I sat down, followed the steps, and suddenly everything became clear:Exactly what I was afraid of…Where I was vs. where I wanted to be…The steps I needed to take to change my life…
From that day on, I started working toward my goal. Nearly a year later, built up my own business and achieved financial independence.
And here’s the truth: I’m nothing special. If I can do it, so can you.
Here’s how it works in three simple steps:
Step 1: Define Your Fears
- Write down the absolute worst that could happen if you take action.
- Be specific. What’s the most disastrous outcome?
As an example, when I was thinking about quitting my job and starting my own business, my worst-case scenario was not making enough money and running out of savings. The worst-case scenario would have only meant that I would have to go back to my old job.
Step 2: Prevent & Repair
- How can you reduce the risk of your worst-case scenario?
- If it happens, how could you recover?
For me, this meant starting my business whilst still doing my day job, which allowed me to save up three months of living expenses. That way, I could launch the business whilst still working my 9 – 5 job, and the savings gave me a buffer if things went wrong.
Step 3: Weigh the Cost of Inaction
- What will happen if you don’t take action?
- How will your life look in 6 months, 1 year, or 3 years if you stay where you are?
Again, doing nothing meant that in a years’ time I’d still be stuck in a job that I hate, earning the same wage and regretting not making a move.
Your Turn: Try Fear-Setting Today
What’s one big decision you’ve been putting off because of fear? Try this exercise today — write out your worst-case scenario, how you’d prevent it, and what it would cost you to do nothing.
📩 Hit reply and tell me what fear has been holding you back. Let’s tackle it together!
If you’re interested – Here’s a link to the original Tim Ferriss article.
Want to listen to a brand new podcast about Fear Setting? Then check it out below:
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