How to overcome a crisis of confidence as an entrepreneur
Running your own business comes with its own unique set of challenges. There are going to be times you doubt yourself, you will probably worry about money, get stressed about finding clients and think others are doing it better than you. This is all part of the journey.
But how you react to and deal with these thoughts and feelings can have a huge impact on your success.
Facing a crisis of confidence can be debilitating. That voice in your head starts asking “how am I going to stand out”, “what if people don’t want to work with me”, “what was I thinking!”. And if not caught in time this can turn into “I’m never going to be successful”, “I’m not good enough”, or worse.
Whether you're experiencing self-doubt for the first time or it's a recurring theme, navigating through it is crucial for the long term success of your business. Let’s look at what might cause this crisis of confidence and then explore ten strategies to help you regain your confidence and move forward.
Identify the root cause
Understanding what’s going on can help you address it more effectively. Here are some common triggers I see with my clients:
Fear - the pressure to succeed and the fear of failing, being judged or looking stupid can cause you to doubt yourself and question your abilities. When it comes to marketing, people are often scared because there is just so much they don’t know.
Overwhelm - wearing multiple hats and juggling tasks can be overwhelming, leading to burnout and a feeling that you’re not doing anything well.
Financial pressure - the lack of financial security that comes with starting and running a business can cause significant stress and concern.
Isolation - spending the majority of time working by yourself means it’s easy to feel isolated and get caught up in your own thoughts which can impact your motivation and confidence.
Comparisonitis - constantly comparing yourself to others can leave you feeling inadequate and unworthy of success.
Imposter syndrome - when you believe you’re not as good as others you start to feel like a fraud, despite all of your achievements and experience.
Lack of feedback - without regular feedback or input from peers or leaders it can be hard to gauge your progress and have confidence in your decisions.
Negative experiences - previous failures or setbacks can come back to haunt you, making it difficult to maintain your confidence.
Uncertainty - market conditions such as cost of living or changes in legislation can create feelings of uncertainty and self-doubt about the future of your business.
10 strategies for overcoming a crisis of confidence
Get clear on your why
Take a step back and remind yourself why you started your business in the first place. Reflecting on your values, purpose and passion can reignite your motivation and boost your confidence.
Shift your mindset
If you find negativity creeping in, ask yourself “is this an actual fact or a feeling? What evidence do I have for this? Is there another way I could look at this? What could I do instead?”. Notice what's under the surface and challenge yourself to look at it from a different perspective.
Focus on your strengths
Understanding where you shine gives you the confidence to speak up and stand out. Start by listing out 10 (or more) of your strengths, abilities, qualities, experiences or aspects of your approach that make you who you are. Keep adding to this list and when self-doubt strikes reflect on these strengths and congratulate yourself on being amazing (even if you don’t feel like it at the time)!
Remember it’s not about you!
WHO do you help, what are THEIR problems, how do you help THEM get from where they are now to where THEY want to be? Shift your focus from your own thoughts and feelings to those of your ideal client and how you add value to their lives.
Find your tribe
Entrepreneurship can be lonely. Build a supportive network of mentors, peers and supporters you can reach out to when your confidence dips - people you trust to provide insight, perspective, encouragement and reassurance that you’re not alone.
Make a plan & take consistent action
Confidence comes from taking action and a plan gives you clarity, direction and focus as to what those actions should be. Break down your goals into smaller, more manageable tasks and take it one step at a time. Accomplishing these tasks can provide a sense of achievement and build momentum, helping you regain your confidence.
Stop waiting for the stars to align
Inaction breeds doubt and fear. Don’t get caught up in having to post at the ‘perfect time’ on the ‘right day’. Don’t feel you have to look perfect on camera. Don’t wait until you are 100% certain about your niche or your website is exactly as you want it to be. You’ll never be fully ready and it will never be perfect! Imperfect action is better than no action. Get clear on where you are going and keep taking the next step.
Slow down & celebrate the little things
It’s crucial to slow down - slowing down allows for thoughtful analysis and more effective decision. Rather than focusing on what you haven't done, focus on the steps you HAVE taken and the progress you HAVE made. Take a moment to look at how far you've come and celebrate the wins - no matter how small.
Be inspired
Accept that you will never know everything. Be proactive about self-development and proactively seek out ideas and solutions. Who or what inspires you? Be around those people or do more of what lifts you up. It’s important to look for ways to build ourselves up rather than knock ourselves down – plenty of people will do that for us!
Prioritise self-compassion & self-care
You are the greatest asset in your business - treat yourself with respect and kindness and prioritise self-care. Check the activities and routines you repeat on a regular basis. Are these habits positive and empowering or are they causing you harm? Remember that compassion is as much about giving yourself a kick up the backside when needed as it is about self-care - learn to embrace challenges and failures as learning opportunities rather than blaming yourself.
Conclusion
Facing a crisis of confidence when you run your own business is a common experience. You can have the best marketing strategy in the world, but if you’re struggling with confidence or self-belief it can be difficult to put yourself out there and shine.
That’s why building and growing your own business is as much about cultivating the right mindset as it is about the marketing tactics you choose. By understanding the root cause of your confidence crisis and implementing these strategies, you can navigate through self-doubt, reignite your drive and continue to move forward with your entrepreneurial journey.
Remember, confidence is not a constant state but a muscle that can be strengthened over time. Keep pushing forward - you’ve got this!
Mindset lies at the heart of everything I do in my coaching which is why we always start with YOU and build your marketing strategy, brand, messaging and plan around your unique style and personality. If you would like to learn more, take a look at how I work with clients here or book a complimentary chat here.
