The Official BNI Podcast: Episode 931 – Navigating Through Fear

Date: October 8, 2025
Host: Dr. Ivan Misner
Guest: Eric Holmberg – Entrepreneur, Author, Business Coach, BNI Raise N23 Member (Boulder, CO)

Episode Overview

This episode, "Navigating Through Fear," centers on understanding fear in entrepreneurship and leveraging it as a tool for growth rather than a roadblock. Dr. Ivan Misner and guest Eric Holmberg discuss practical strategies for BNI members and small business owners to face, process, and move beyond fear. The episode shares personal experiences, actionable advice, and the importance of building support systems within the BNI community.

Key Discussion Points & Insights

1. The Nature of Fear in Business (02:06)

• Eric Holmberg defines fear as a "natural human emotion" meant to prepare us, especially crucial for entrepreneurs facing daunting odds.
  • “Fear is really here to stay… it’s really here to tell us and give us a particular message, which in my mind is to be prepared.” (Eric, 02:08)
• Rather than being overwhelmed by fear, Eric suggests intentionally listening to fear's message and then planning action steps to address it.

2. Frozen or Focused by Fear (03:05)

• Dr. Ivan Misner elaborates that fear can either "freeze" or "focus" entrepreneurs.
  • “People either get frozen by fear or focused by fear.” (Ivan, 03:06)
• Ivan shares that the genesis of BNI itself was about channeling fear into focused action: starting a referral group to combat business anxiety.

3. Building Support Systems & Safety Nets (04:20)

• Eric warns against letting fear "build a cage," limiting potential and outcomes.
  • “Listen to fear, but don’t let it drive.” (Eric, 04:00)
• Recommendations:
  • Prepare financial safety nets (emergency funds) for inevitable setbacks.
  • Rely on peer support from fellow business leaders—pointing out the unique value BNI offers as a community of shared experience.
  • Avoid leaning on employees or customers for emotional support; turn to peers or mentors.

4. The Value of the BNI Community (05:01)

• Ivan highlights BNI as a unique forum for support, experience-sharing, and collective wisdom.
• Eric emphasizes the richness of the entrepreneur’s journey within BNI, noting how both giving and receiving support can be invaluable.
  • “There’s nothing quite like it to have a room full of other members and other leaders who not only willing to support you but may have faced some of the challenges you have faced.” (Eric, 05:12)

5. Trust, Verify, and Empower (05:44)

• Achieving big goals requires building teams and trusting others, but with practical oversight.
  • “Empower them… but also have some checks and balances on the side.” (Eric, 06:00)
• Practical advice includes:
  • Giving employees ownership and responsibility while maintaining oversight through customer feedback, invoices, and spot-checks.
  • “Figure out sooner rather than later” if someone isn’t a good fit, to mitigate issues promptly.

6. Delegation and Overcoming the Fear of Competition (07:21)

• Ivan references episode 640 on “Effective Delegation” and stresses gradual delegation of authority to build scalable teams.
• Eric addresses the fear of “training the competition”:
  • Most employees are not likely to start a competing business, and the “fear-based mentality” is generally misplaced.
  • “The people you really want on your team are the people who are ready to step into their development and their greatness.” (Eric, 07:48)

7. Calculated Risks & Financial Projections (08:50)

• Eric shares his personal approach to risk, highlighting the importance of financial projections and outsourcing tasks that aren’t his strengths.
  • “I really had my understanding of finances dialed in… I would outsource that out.” (Eric, 08:52)
• Stress is placed on working with trusted advisors and planning growth steps to avoid debt.

8. Anchoring into Your “Why” (09:46)

• Eric believes the single most vital focus is connecting with the deeper motivation behind entrepreneurship.
  • “The most vital focus is to really anchor into your why. Why are you really doing this instead of working for somebody else?” (Eric, 09:47)
• This clarity helps entrepreneurs push through tough times and setbacks.

9. Hope Over Fear (10:35)

• Ivan introduces his COVID-era insight that “hope is more powerful than fear.”
  • “Hope is more powerful than fear. Hope and a plan will lead you into success, the implementation of that plan.” (Ivan, 10:37)
• Both hosts advocate for having hope, a strong plan, and the drive to execute.

10. The Strength in Vulnerability & Reaching Out (10:59)

• Eric encourages business owners to be vulnerable, ask for help, and connect with peers, coaches, or consultants. This openness is a “strength, not a weakness.”
  • “Vulnerability is strength… Reach out to other business owners.” (Eric, 11:00)
• Ivan reiterates the BNI community’s role as a “group of advisors and consultants” ready to help fellow members.

Notable Quotes & Memorable Moments

• "Fear is really here to stay... it’s here to tell us and give us a particular message, which in my mind is to be prepared."
  — Eric Holmberg, 02:08

• "People either get frozen by fear or focused by fear."
  — Dr. Ivan Misner, 03:06

• "Listen to fear, but don’t let it drive."
  — Eric Holmberg, 04:00

• "Hope is more powerful than fear. Hope and a plan will lead you into success."
  — Dr. Ivan Misner, 10:37

• "Vulnerability is strength… Reach out to other business owners."
  — Eric Holmberg, 11:00

Timestamps for Important Sections

• [02:06] – The human role of fear and how entrepreneurs can harness it
• [03:05] – Frozen vs. focused by fear; the origin of BNI
• [04:20] – Building safety nets and peer support systems
• [05:44] – Trust, verification, and team empowerment
• [07:21] – Delegation and the myth of “training the competition”
• [08:50] – Calculated risks, financial projections, and working with advisors
• [09:46] – Anchoring into your “why” for long-term success
• [10:35] – The supremacy of hope over fear
• [10:59] – The importance of vulnerability and seeking help

Final Takeaways

• Acknowledge and Address Fear: Rather than being swept up by fear, slow down, listen to what it’s telling you, and use it to prepare and plan.
• Lean on Your Community: Tap into BNI’s network of experienced peers for advice, encouragement, and support.
• Empower Others Wisely: Trust your team but maintain checks and balances to ensure alignment and performance.
• Stay Anchored in Your Why: In challenging times, remembering your deeper purpose provides vital motivation.
• Choose Hope Over Fear: A hopeful outlook, paired with a solid plan and action, is crucial for lasting success.

Guest’s Website: Navatis.com (Eric Holmberg’s business coaching and consulting)