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How to overcome the fear of overregulation ?

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Losspost

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So I recently realised my why I have a lot of ideas but never execute them. I am living in germany and those who do aswell probably know that there are quite a lot of regulations out there. I had the idea of building a software for universities. My fear is no that I maybe forgetting some tax lawys in the process and then getting a problem because of this. Another idea involving credits. My fear is there, that I again miss some important regulations and get sued because of this , or worse.

How can I overcome this? Especalliy I an overregulated country like Germany ?

Greetings Losspost
 

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Lex DeVille

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So I recently realised my why I have a lot of ideas but never execute them. I am living in germany and those who do aswell probably know that there are quite a lot of regulations out there. I had the idea of building a software for universities. My fear is no that I maybe forgetting some tax lawys in the process and then getting a problem because of this. Another idea involving credits. My fear is there, that I again miss some important regulations and get sued because of this , or worse.

How can I overcome this? Especalliy I an overregulated country like Germany ?

Greetings Losspost

Move
 

Speed112

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Either start a deregulation movement and chip away at the ever-growing behemoth of government overreach...

Accept your fears and do it anyway then deal with the problems as they arise...

Or go to a place where you're slightly less of a slave.

The problem won't solve itself.
 

Losspost

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I'm considering moving. But I am currently completing my bachelors and wanted to start my masters. So I am most likely only able to move in around 2-3 years
 

Lex DeVille

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I'm considering moving. But I am currently completing my bachelors and wanted to start my masters. So I am most likely only able to move in around 2-3 years

If you want to be a student, be a student. If you want to be a business owner, start a business. There will be sacrifices either way and we can't make your decisions for you.

Personally, I would hate to wait 2-3 years to discover I'm still too afraid to do what has to be done or to finally make the leap and realize there are a million more things to be afraid of.

I got over my fear of risk-taking a long time ago. It takes courage the first time. You have to find the courage to take a risk once to build confidence in your ability to survive being a risk-taker. To be in business requires countless calculated risks. In other words, to be in business, you have to be a risk-taker.

What risk are you willing to take for the life you want? What makes the most sense for you? Whatever answer you come up with, do that.
 

Ernman

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This is just one of many possible options for you. I have always gotten over my fears by meeting them head on. When I was young I was afraid of heights. I started climbing trees a little higher each day. Then started climbing taller trees. Now heights don't bother me. You can meet this fear in a very practical way.

You're still a student? Take a business course that will provide you the cover to interview several business leaders, lawyers, government employees, political figures, etc., and dig into the legal/taxation issues around what you want to do. Because you're a student most will be happy to help you...at no charge. While you're at it, research the market around what you want to do.

End result you learn what you need to learn to overcome your fear. You might even get a good grade as you better prepare yourself to dive into this area.

By the way - this is what a lot of entrepreneurs do anyway...just without the excuse of doing it for a college course. They dig in and research the laws, talk to people in the industry and test the waters. Some hire lawyers and accountants to speed the research at a cost. And some just do it - opting for "asking for forgiveness instead of permission."

Bottom line is that fears don't go away by asking others what you should do or wringing your hands. You have to meet them head on.
 

TinyOldLady

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I had the same problem. If you have no budget to hire a pro to explain things to you, you have to find people, who do the same thing, that you plan to do. There are blogs, facebook groups, online courses ...
I have spent a lot of time researching tax and insurance things and I am still afraid to do something wrong.
 

CruxisKnight

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So I recently realised my why I have a lot of ideas but never execute them. I am living in germany and those who do aswell probably know that there are quite a lot of regulations out there. I had the idea of building a software for universities. My fear is no that I maybe forgetting some tax lawys in the process and then getting a problem because of this. Another idea involving credits. My fear is there, that I again miss some important regulations and get sued because of this , or worse.

How can I overcome this? Especalliy I an overregulated country like Germany ?

Greetings Losspost
For me I have the mindset of if I am not breaking any one of the Ten Commandments, then I'm gonna go ahead with it. If it bothers people then I'll say sorry. Like the saying goes, take initiative and say sorry later.
 

Losspost

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This is just one of many possible options for you. I have always gotten over my fears by meeting them head on. When I was young I was afraid of heights. I started climbing trees a little higher each day. Then started climbing taller trees. Now heights don't bother me. You can meet this fear in a very practical way.



By the way - this is what a lot of entrepreneurs do anyway...just without the excuse of doing it for a college course. They dig in and research the laws, talk to people in the industry and test the waters. Some hire lawyers and accountants to speed the research at a cost. And some just do it - opting for "asking for forgiveness instead of permission."
About that. Here in Germany once you f*cked up you will never get a second chance. If you were once insolvent now bank or investor here will every again give you money. People won't trust you again if you failed them once.
 

Lex DeVille

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About that. Here in Germany once you f*cked up you will never get a second chance. If you were once insolvent now bank or investor here will every again give you money. People won't trust you again if you failed them once.

Like I said above, business is for risk-takers. No risk, no reward.
 

Losspost

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Like I said above, business is for risk-takers. No risk, no reward.
I agree, but it still different in other countries. In some countries you still can try it again
 

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Ing

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@Losspost
yes, thats our Country. I know your fears very well. The inhospitable business area in Germany makes it hard.

It helps a lot to be stupid, but thats not all.

When you are finished with university, your fear will notfade. The more you have, the more you are afraid of loosing it.

As @Lex DeVille said, moving is a possibility. ( Btw. Germany has a lot advanta, too. F.e. Your university time won’t leave any debt to you!)

You need not to overcome the fear, but overcome the problems.

Get something running withsome cashflow, so you can hire pros for your problems.

There are some people in here, who have succeeded.
 

Kid

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1. Do you have LLCs in Germany?
2. Hire lawyer
3. Grab a coffee, sit in a chair and read through all applicable laws.

and bonus:
4. Have a "chief legal officer" as startup co-founder: get someone who studies law and wants to change the world!
 

Kid

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Or check if paravaínountonómophobia is accepted as real condition and wait for big pharma to create a cure.
 

LightHouse

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TBH you aren't worried about "overregulation". It's a bullsh*t story you are telling yourself so you can avoid doing anything hard.

That's why you are here... to validate those feelings.

Otherwise you would simply have no desire to still create a business if it was true fear. The fallacy is so bad, you aren't even able to pinpoint the specific law you may encounter with whatever thing you decided to sell or service.

Stop selling yourself the BS story. There is really no other answer. Either you want to do it, or you don't. No excuse is going to fly, no one cares, and you aren't helping yourself at all.

Tough pill to swallow but entrepreneurship isn't for the faint of heart.
 

Mario_fastlaner

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Just focus on creating a good product that solves a need.

when and if your product will start getting some customers, then you can ask a lawyer or a business owner what to do to keep everything legal.

Only solve the problem in front of you, don’t ask what Lamborghini color you should buy if you have 20 bucks
 

Kevin88660

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So I recently realised my why I have a lot of ideas but never execute them. I am living in germany and those who do aswell probably know that there are quite a lot of regulations out there. I had the idea of building a software for universities. My fear is no that I maybe forgetting some tax lawys in the process and then getting a problem because of this. Another idea involving credits. My fear is there, that I again miss some important regulations and get sued because of this , or worse.

How can I overcome this? Especalliy I an overregulated country like Germany ?

Greetings Losspost
Study a business model that handles these risk well. It will not get rid of all risk but mitigate it.

One of the investment that I am looking at is related to decentralized crypto exchange. Many project teams are running anonymously to mitigate all regulatory risk.
 

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