How to Build Your Confidence as a New Entrepreneur

08.06.21 03:00 PM By Bob

Woman with confidence doing business

Successful entrepreneurs share a lot of similar qualities including motivation, persistence, and creative thinking. All of these allow them to keep moving in the right direction towards their business goals. But the quality that has the biggest impact in achieving great success as a business owner is confidence. 


So how can you gain confidence when you're just starting out as an entrepreneur? A lot of new entrepreneurs struggle with this, but the good news is that you can take simple steps to gain confidence as a leader, and run your business more effectively: 


Celebrate small wins

As an aspiring entrepreneur, your mind is probably preoccupied with thoughts on how you can make your business a success in the long term. And while this is fine, you should still celebrate small wins, as this will give you a boost in confidence and motivation. Sure, you may not be as successful as you dream to be YET, but this doesn't mean you're not winning in some areas of your business.


Whenever there are victories, celebrate it in your own way or gather your team and tell them about the good news. I mean who doesn’t like celebrations? You get to give recognition to your team, and have the perfect excuse to have a good time over wine and good food.


Don't dwell on small mistakes

We already know that celebrating victories whether they're great or small can be a great confidence-booster for any ambitious entrepreneur. But what about when we make mistakes? Truth is, you're going to make a mistake at some point, and it can be because of a myriad of reasons. Even big corporations make mistakes, and that's where the opportunity for learning lies. 


Instead of beating yourself up for it (and losing self-confidence in the process), be compassionate with yourself and recognize that as a human being, you're not perfect. Then, try to find the lesson the experience is teaching you and move on. 


As one of my favorite quotes will tell you: “Don’t be afraid to start over. This time you’re not starting from scratch, you’re starting from experience.”


Consider hiring a business coach 

Business today can be hard to navigate, so if you want to jumpstart your dream business with proper guidance, you can always seek the expertise of an entrepreneurial coach who will provide you useful insights about any areas for improvement, and will help you build the confidence you need to fast-track your business growth.




Clearly define your purpose

Ever noticed how easily you lose confidence when you don't know why you're doing what you're doing? That's because when you don't have a clear goal, it's easy to get distracted and lose sight of what it is you were trying to achieve in the first place. The same is true in the business setting, in that you need to have a clearly-defined goal in order to stay the path. 


Having clarity of purpose has a lot of advantages: 

  • Helps in boosting your confidence to start your entrepreneurial dreams

  • Serves as a sort of compass that guides your decisions

  • Helps tremendously in giving a sense of meaning to what you do


Once you're able to identify your purpose for starting a business, creating a vision and mission shouldn't be hard, and you'll find that you are more confident to create an action plan and take steps towards your goal. 


Expect excellence from yourself

Confidence is all about believing in yourself, your capabilities, and your decisions. So to develop it, you need to embrace a success mindset, and decide that your life will stop being dominated by feelings of insecurity and fear. 


Start by answering this question:


Do you believe you can COMPLETELY change your life and become who you want to be?


If your answer is yes, then you're already on the right path because as we all know, beliefs shape our reality. What you put in your mind has the power to affect your work, relationships, and ultimately the quality of your life.


If you're finding it hard to believe in your potential, know that you have the power to change your limiting beliefs by recognizing your strong points and overcoming your fears one day at a time. 


Recognize where your insecurity comes from

Some people who have feelings of insecurity fall into the pit of self-blame - feeling frustrated at themselves for not having the guts to do the things they want to do, and not feeling worthy or good enough to achieve great success in business. 


To overcome self-doubt, first you need to realize that feelings of insecurity aren't your fault. They may be a result of the kind of upbringing you had, your experiences of rejection or failure, and even your current environment. Maybe you had parents or siblings who were overly critical of you from a young age, or you recently experienced a loss or rejection that affected your confidence. 


Whatever the reason is, remember that you can work through your insecurities and feel better about yourself and your abilities. 


Conclusion

Confident people believe that success is very much within reach, as long as you put in the work and time to attain your goal.  As a new entrepreneur, it's important to work on improving your self-esteem so you can take on business challenges confidently, approach new people to build your network, and communicate better to resolve conflicts.