In speaking with a variety of entrepreneurs on a daily basis, I've noticed a surprising theme: a lack of confidence.
From sales to management, there is always something we feel we can do better. And for those just launching their own business, hearing 'no' or dealing with mishaps can take an even bigger toll on your self-esteem. You learn very quickly that working for yourself is an emotional roller coaster, to say the least.
As I started to get more clients, my overinflated ego would soon deflate. A combination of dealing with not-so-happy clients and constant rejection from the press, made it hard to maintain confidence in my company. To this day, it can still be a challenge to unwaveringly believe in my abilities.
So while I know the difficulty first hand, I also know what a little burst of confidence can do. Here are some tips for giving your self esteem a boost:
Don’t wallow. A few months ago, a client decided to let me go before my contract was up. Despite all my best efforts, I just wasn’t getting them the results they wanted. It caused me to have a full-on emotional breakdown, and it made me question if I was a good publicist.
From that experience, I learned that if I was going to persevere on, I had to get over these scenarios. I have established a one-hour pity party rule, meaning when things don’t go my way, I only have one hour to dwell on it and then it's back to business.
When you start to feel sorry for yourself, channel positive energy into your startup -- focusing on your other clients, customers, products or what have you.
Seek feedback. I realize asking people to critique you can be scary. However, the only way to create the best business you can is to constantly use feedback to improve. I try to periodically check in with my clients to see how they are feeling about my services.
As an entrepreneur, if you do this often, you help to nip problems in the bud, before they become crises. Also, if you are asking for feedback, it won’t all be negative. Nothing is a better confidence booster than hearing the things you are doing well.
Learn how to cut your losses. The greatest strengths of an entrepreneur are determination and persistence, yet, these qualities can also be her biggest weaknesses. Sometimes you just have to learn how to let go.
There will be times when you have to make the decision to part ways with a client or a vendor. If you two don’t have a synchronized vision or every small detail is an uphill battle, it might be in your interest to say goodbye.
A rocky relationship, centered on all the things you are doing wrong, can be very taxing to your ego. To propel a business forward, you don’t need constant negative energy.
Related: When Overconfidence Backfires
Build a support system. Being an entrepreneur can be an isolating experience, and it is easy to become your own worst enemy. Sometimes, I find myself sitting around obsessing over all the things that aren’t quite right. Why isn’t my company growing faster? Will client X rehire me again? Why can’t I get more placements?
Negative thoughts can be very time consuming and detrimental to your vision, so it's essential to surround yourself with positive people to snap you back to reality. Having a support system to lean on will make you realize there is a world out there beyond your business, which is essential for your mental health.
As an entrepreneur, confidence is your best asset and will be a critical component to building a successful business. However, it can be hard to maintain confidence when you are constantly dealing with rejection. I never used to believe it when people told me that entrepreneurial confidence comes along with time. Once you have seen your business prove itself, you will see the light. In the meantime, fake it until you make it.
How do you build up your confidence? Let us know in the comments below.
The author is an Entrepreneur contributor. The opinions expressed are those of the writer.
Rebekah Epstein is the founder of fifteen media, an agency that works exclusively with PR firms to get more media placements for their clients. She specialized in lifestyle, technology, healthcare and business. She also blogs about the ups and downs of gen-y entrepreneurship at NeonNotebook.