Subscribe to Entrepreneur for $5
Subscribe

10 Ways to Build Your Entrepreneurial Confidence

Self-confidence is the backbone of a resilient mindset, which is essential for entrepreneurs - but it doesn't come easy. Here's how you can build up your confidence.

By
Opinions expressed by Entrepreneur contributors are their own.

An will not go far without . Self-confidence is not something you are born with — it's something you build over time, especially as the leader of a business. I have worked with highly intelligent, creative and hardworking entrepreneurs who still lack confidence.

Here are some tips to help you build your entrepreneurial confidence:

1. Take risks and learn from your failures

One of the to build your confidence is to take risks. This doesn't mean be reckless, but it does mean pushing yourself outside of your comfort zone. Failure is a part of , and it's essential that you learn from your mistakes. Every time you fail, you are one step closer to success.

2. Keep stress under control

When you're feeling stressed, your body goes into fight-or-flight mode. This means that your heart rate and blood pressure increase, which makes you more alert. While this response can be helpful in some situations, it's not ideal when you're trying to think clearly and make decisions. When you're stressed, you're more likely to make impulsive decisions, leading to costly mistakes.

That's why it's important to keep your stress under control. There are many effective ways to cope with entrepreneurial stress, such as exercise, relaxation techniques and positive thinking. Find what works for you, and make sure to take some time out for yourself every day.

3. Surround yourself with supportive people

One of the best ways to build confidence is to get involved in entrepreneur groups or communities. There are many online and offline groups you can join, which provide support, resources and connections to help you in your journey. You can also attend events and conferences to gain exposure to new ideas and people.

Related: The 5 Steps to Building Unshakable Confidence

4. Recognize your unique talents and abilities

One of the best ways to figure out what you bring to the table is through self assessment. Pay attention to the tasks that bring you joy and come naturally. This would be your genius zone. The tasks that bore you and leave you daydreaming are for someone else.

If doing this on your own is confusing or too complex, you can also take an assessment or personality test like Myers-Briggs or Enneagram. These tests can help you understand your strengths and weaknesses, how you make choices, how you interact with other personality types and more. Once you know your strengths, you can focus on developing them further, giving you a sense of confidence in your abilities.

5. Hire people with skills you don't have

Every business owner has different strengths and weaknesses. You need to focus on your strengths, delegate or outsource your weaknesses, and continue to develop your skills. This will help you build a well-rounded business and team that support your vision. As your business grows, your confidence will grow along with it.

6. Be emotionally resilient

Being emotionally resilient means being able to bounce back from setbacks and failures. This is an important quality for entrepreneurs because there will be times when things don't go as planned. You need to be able to pick yourself up and keep going. One way to build emotional resilience is to practice mindfulness.

Related: Emotional Resilience Is Key. Here's How to Cultivate It.

7. Expand your knowledge and scope of work

Another way to build your entrepreneurial confidence is to read books or articles about entrepreneurship and success. This will help you learn new concepts and give you a different perspective. You can also listen to podcasts or watch videos about entrepreneurship. There are many great resources that can help you build your confidence.

8. Build a spiritual practice

Building a spiritual practice can help you connect with something larger than yourself and give you a sense of peace and calm. This can be anything from meditation to journaling to walking in nature. Find what works for you and make it a part of your daily routine. This will help you center yourself and find strength in times of stress.

9. Find a mentor

One of the best things you can do to build your entrepreneurial confidence is to find a mentor. A mentor has been through the journey of entrepreneurship and can guide and support you along the way. Having a mentor will give you someone to bounce ideas off of, offer advice and help you stay motivated.

10. Celebrate your successes

I cannot emphasize this enough: Celebrating small wins give you a significant boost in your confidence. As an entrepreneur, you are your biggest cheerleader. If you tend to set your eyes on the next goal even before reaching your current one — which, if you're an entrepreneur, you probably do this — you'll want to avoid this tendency. Take time out to pause and celebrate each milestone in your business.

Building your entrepreneurial confidence is an ongoing journey. It takes time, effort and a willingness to learn and grow. But it is well worth the investment, because it will give you the foundation you need to be successful in business.

Related: How to Build a Spiritual Practice for Major Business Growth

Entrepreneur Editors' Picks