5 Ways to Protect Your Entrepreneurial Confidence

There are two types of entrepreneurial confidence. There is the type relating to the attitude of the entrepreneur and there is the type relating to the privacy issues of the entrepreneur. This article deals with the mental attitude of the entrepreneur and gives five tips relating to it.

Why does the entrepreneur need confidence?

There are a few reasons. A timid entrepreneur is harder to deal with and some people will find him or her harder to trust because of it. The world of an entrepreneur is also supposed to be filled with risk. The general feeling is the higher the risk then the higher the payoff. If an entrepreneur has low confidence then risk taking will not come easily.

1 - You are your own measuring stick but measuring against others is okay

If you wish to keep your confidence as an entrepreneur then you should measure your success by yourself. If you increased your profits by 200% last year than that is the figure you should be looking at. It is not healthy to look at other people and compare yourself to them as your 200% growth may be -25% when compared to someone else doing the same thing as you.

On the other hand, competition and stacking yourself against others is a great motivational tool. Once you have your confidence in check it may be a good idea to hold yourself up against someone who is doing better than you. If you are worried about your confidence when doing this, then remind yourself that you cannot win this chase. You cannot win this chase because if you start to beat the person you are holding yourself up against then you must change your focus and find another person who is doing better than you.

You must never hold yourself up against people who are doing worse than you because this will make you complacent and will probably do your confidence no good in the long run.

2 - A symbol of your success may be helpful

A Napoleon Hill story tells of a woman who wore her ring with the massive diamond on it. The story tells of how she never sold it, even when she was in trouble, and how she wore it every day. It turns out she was wearing it because it reminded her of when she was successful. She had been successful enough to buy that expensive ring, and its presence on her hand in semi-permanently in her view was a great symbol of what she was capable of. It was something that gave her strength and confidence because it reminded her of just how successful she was and was capable of being.

3 - The world is not fair and it’s a good thing

If the world was fair then why would America be the only country where people go hunting on a full stomach? If the world was fair then why would people go hungry two yards away from homes that throw away food? The world is not fair, but that is a good thing otherwise you too would be using your hand for toilet paper. Do not complain when the world is unfair to you and do not blame yourself. Just thank your lucky stars that the world is unfair to start with and accept the consequences of it.

4 - If you can risk it all on one turn of pitch-and-toss

Remembering the rules of this world is a great way to protect your confidence.
The fact is that you are an entrepreneur and so should not be averse to risk. This means remembering the rules of the world such as how the world is not fair and how bad things will sometimes happen. If you can accept and love the fact that you are up against risk, and if you can embrace risk without fear, then your confidence as an entrepreneur will never falter. It was expressed perfectly in a Rudyard Kipling poem. The most pertinent part has been cut out and placed below.

If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
……….Yours is the Earth and everything that's in it

5 - Your internal monologue is a powerful tool

We all have an internal monologue and we all think that ours is louder than other peoples or that ours is somehow more active than other people. But, the fact is that people’s internal monologues are running all the time. It is just that most people are not doing the CSI suspicion thing that most people associate with the internal monologue. In many cases people are simply pulling down themselves. They say things such as, “What is a woman like that going to see in me?” or “I hope he didn’t just notice me do that.”

A confident person has a very powerful and supportive inner monologue. It points out that the approval of other people is not needed. It points out that “screw it, we will all be dust in 100 years anyway” and it never gives excuses. It says you lost because you lost, and not that you lost because you are a loser.

Author bio: Korah Morrison, UCLA student, blogger. Working as freelance writer at uk.college-paper.org.
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