I often work with clients who express aspirations of starting their businesses, even if only as a side hustle, that would allow them to pursue their purpose and passion while maintaining the security of their 9-5 jobs.
However, there tend to be several blockages and limiting beliefs that come up, preventing any action forward.
Are you a new or aspiring entrepreneur lacking the mindset, self-confidence, and clarity you need to pursue your goals?
Well, please let me assure you that you are not alone. Research has found confidence to play a significant role in entrepreneurship and entrepreneurial success.
Additionally, research has found women to be less likely than their male counterparts to pursue their entrepreneurial ambitions.
While it’s normal to have self-doubt and fear around starting your own business, I’d encourage you not to let it deter you from trying if it’s something you feel led to do.
In this article, we’ll discuss the importance of self-confidence in entrepreneurship and tips on developing it.
Let’s take a closer look.
What is Self-Confidence?
Self-confidence is a positive belief about your unique skills and abilities and being able to trust yourself to exercise good judgment and make sound decisions.
It is a quality that can empower you to believe in your abilities, embrace challenges, and pursue your goals with determination.
Importance of Self-Confidence in Entrepreneurship?
It’s not uncommon for new and aspiring entrepreneurs to lack confidence when deciding to commit to life as a business owner. The weight of the responsibility can be overwhelming.
Whether you’re looking to replace a 9-5 income or for a side hustle to earn additional income, it can be intimidating to venture outside of your comfort zone in this way.
What’s incredibly important to remember is that as you decide to embark on this journey, you are signing up to become a leader in your business.
As such, decisions will have to be made, for better or worse, and you’ll need to develop confidence in your ability to make and stand behind those decisions.
6 Tips to Develop Self-Confidence in Entrepreneurship
Cultivating self-confidence and a leadership mindset is essential for success in entrepreneurship. It’s the foundation on which you build your business, make crucial decisions, and navigate challenges that come your way.
Check out these six tips to help you develop and maintain self-confidence in your entrepreneurial journey.
Resist the Urge to Compare Yourself With Others
Remember that your journey is unique and should not be compared to anyone else’s.
Each entrepreneur is at a different stage, and you shouldn’t allow comparison to rob you of your ability to enjoy your process.
Yes, you can look to others for inspiration and education and even acknowledge a job well done when you see it.
But make sure the majority of your focus is on your vision and the actions you plan to take to reach your goals and feel confident in what you offer the business world.
Set Goals for Yourself and Accomplish Them
Nothing helps build confidence like setting out to do something and seeing it through to completion. There’s no need to go big right out of the gate. Start by setting small goals for yourself regarding starting your business.
Develop a daily routine, create a to-do list, and begin checking things off the list. For example, deciding on a business name and registering it with the state is an accomplishment that should be celebrated.
Keep the momentum going from there; before you know it, you’ll look back and won’t believe how far you’ve come. It’ll result from your hard work and dedication to your goals and help build positive self-esteem.
Be Mindful of the Company You Keep
When looking to build self-confidence as an entrepreneur, you must consider the people around you. Are you surrounding yourself with like-minded individuals or those aspiring to go where you’re trying to go? If not, I’d encourage you to consider making some changes.
It’s difficult for those around you who aren’t on a similar path or haven’t been given the vision or desire for something bigger to support your dreams fully. Though your loved ones want the best for you and might offer an encouraging word here and there, the valuable advice and guidance you can receive by connecting with seasoned entrepreneurs are priceless.
Additionally, connecting with other entrepreneurs in the same field you’re working in provides you access to accountability partners who can help keep you motivated and hold your feet to the fire, making it more difficult for you to throw in the towel when things get hard (and believe me, they will).
If you need help finding like-minded individuals to connect with, try searching for relevant keywords in Facebook groups, Meetup.com, and Reddit, to name a few. You can also search for networking events in your area.
Embrace Mistakes and Failures
Being honest with yourself from the start by acknowledging that mistakes will be made, there will be times that you struggle, and maybe even fail at something you’re trying to create will help alleviate the impact of their effects on your ability to regroup and keep moving forward. It’s life!
Now, let’s also acknowledge the benefits of making mistakes and having things not go according to plan. First off, you get them out of the way!
You can also develop an improved plan iteration, applying what was learned.
Trial and error will be an inescapable part of this journey, so remember to give yourself grace.
Honor Your Unique Skills and Abilities
So often, we put the majority of our focus on our weaknesses and what we can’t do that we don’t give ourselves the credit we deserve for things we can do and do well!
Take stock of all of your skills and abilities and consider how you can use them in your business. Whether you’re a great writer, have an eye for design, or are excellent with numbers, give yourself credit for it all and use it to help balance out areas where you might feel less confident.
Commit to Continued Learning
Commit to continued education on topics related to your specific area of business, the inner workings of operating a business, and how to be successful in entrepreneurship by consuming books, podcasts, training materials, and programs. These educational tools can give you the information you need to navigate the processes and pitfalls of being a new entrepreneur more confidently.
Final Thoughts
Though it’s not likely to happen overnight, you should make a conscious effort every day to focus on maintaining a positive attitude and working to develop confidence in yourself by practicing the tips provided in this article.
It’s not an exhaustive list of things you can do to build self-confidence in entrepreneurship, but I hope it helps you recognize where there might be room for growth. Otherwise, you risk letting negative self-talk and self-doubt hinder your path to success – and we can’t have that, now can we?
