4 Strategies for Retaining Your Entrepreneurial Confidence Inspiration is just the spark, but you need daily practice to keep your momentum going.
By Aytekin Tank
Opinions expressed by Entrepreneur contributors are their own.
There was once an entrepreneur with such unshakeable confidence in himself that he proudly announced to the world, "I have not failed. I've just found 10,000 ways that won't work."
Imagine being so self-assured in admitting your failures — to have kept trying in the face of failed attempts and constant adversity? Well, that's exactly what the inventor of the light bulb, Thomas Edison, did. It's an example to all of us of tenacity and perseverance, but mostly, self-confidence.
As entrepreneurs, that quality can come so easily at first. You have one of those visionary ideas in the middle of the night or the shower. All of a sudden, you believe wholeheartedly that you're onto something great.
Inspiration like this is necessary to spark that initial flame of bravery to get us motivated to start our businesses. But what happens when that spark begins to dim? What happens a year or two later when you're confronted with challenge after challenge? When you have no idea what you're doing, and you're questioning your every decision?
Let me assure you, I've been there. I founded my tech startup 16 years ago and went through some bleak periods like the above.
So what I'm trying to say here is that starting fresh out of the gate with confidence is essential to get your business going. But you're then also required to maintain it. Below are four strategies for nurturing that momentum for the long term.
1. Remain forward-thinking
There's this misconception that being forward-thinking involves simple imagination, or picturing some potential future outcome. But what it's come to mean for me as CEO of my company is perseverance and patience.
Thomas Edison held an image of light in his mind — but it wasn't that vision that necessarily propelled him to action. It was his steadfastness in the belief that something greater than himself could exist.
Your perseverance is the ultimate confidence builder. It's what will maintain your flame from burning out. Being truly forward-thinking is knowing that everything great takes time and effort. And, knowing that great things aren't built overnight.
Related: Want Big Things Out of Life? Expect Big Things of Yourself.
2. Don't let productivity override your passion
I don't believe you necessarily need passion to succeed. There are many stories of entrepreneurs who have arduously labored for years and have built well-known companies just on their productivity alone.
But for me, passion is a key ingredient for entrepreneurial confidence.
Entrepreneur contributor Scott Miker notes that when we're passionate about something, it will better help us sustain it through difficult times. "That perseverance is necessary for almost every new business."
"You need to struggle through the beginning," he says. "As you do, you can gain the insights to avoid your early mistakes. You can cultivate the customer base by delivering years of great service. You gain the confidence that your idea works."
Related: 4 Reasons Following Your Passion Leads to Success
3. Be a life-long learner
When I first founded my company, I was laser-focused on accumulating as much knowledge as possible about the industry. So I read every business book I could get my hands on. While this did indeed help me gain new skills and information, I've since changed my beliefs about how to become a life-long learner.
It's not just about being proficient in your industry — it's about developing a strong curiosity and mindset about the world in general. That's why I don't just read business books anymore. I enjoy reading novels and other kinds of nonfiction about a variety of different topics.
They've all served to open my mind in new ways — giving me greater confidence to keep exploring and innovating. It also provides me with insights I otherwise would have never gained.
Of course, we don't just learn from books, but also from our shared experiences. And for me, one of the greatest ways to keep being open is by having interesting and novel discussions with people from all walks of life. These conversations are priceless for our growth as both entrepreneurs and individuals.
4. Practice daily mindfulness
"No matter what job you have or which industry you are in, understanding your weaknesses is just as important to your success as recognizing your strengths," Alisa Cohn explains in her illuminating story for Harvard Business Review.
"Without an awareness of where you've got room for growth," she adds, "it's almost impossible to improve your performance at work and progress in your career."
Self-awareness then is key to retaining our confidence. Of course, this means taking time out of your day for reflection. One of the best ways I recommend doing so is by establishing a daily practice of mindfulness.
Going outdoors and being present in nature is one of my favorite ways to do this. But there are also meditation and breathing techniques that can help you take those necessary pauses and accumulate the calm needed for maintaining confidence.
If you're always stressed out and have a busyness mindset, then it's more likely that you'll be prone to focusing on your mistakes, rather than your strengths. To escape this spiral of insecurity, Cohn suggests consciously shifting our perspective and how we think.
That's why mindfulness exercises are so valuable for confidence-building. You stop reacting so intensely to your negative thoughts and can keep your mood and energy positive throughout the day.
According to Cohn, it's also vital that we change the way we talk to ourselves internally. "Identifying these negative internal voices and intentionally replacing them with a more positive, productive narrative can help get us out of this paralysis and move towards action."
Like I said in the beginning, entrepreneurial confidence isn't something that you'll build overnight. You might feel unstoppable in those initial days of building your business. But retaining that drive requires constant effort, perseverance and more than anything, a high dosage of patience to keep going.
