10 Confidence Boosting Tips for Entrepreneurs

Confidence for entrepreneurs can never be underestimated, it is essential and we should resist the urge to merely pay lip service to its value. Self-confidence is undisturbed calm welling from a quiet arsenal of knowledge and inner strength. It is full trust, reliance or faith in one’s own capabilities. It’s often said, “If you don’t believe in yourself first, no one else will.” It takes a certain level of confidence and unshakeable belief in a one’s own dream to launch into the unknown of entrepreneurship. It’s not always a confidence devoid of fear, but one that takes the leap in spite of fear.

Yet, even though countless success-seeking entrepreneurs have dared to pursue their dreams, low self-confidence remains a major Achilles’
heel for some. Without confidence, an entrepreneur’s success is doomed to a sluggish, if not non-existent, rise.

As an entrepreneur, the ability to confidently articulate your value proposition to one person or a large audience will build you more
relationships, acquire you more clients and close you more deals than a self-effacing demeanour that inspires little confidence in potential investors or clients.

The late American business leader and philosopher, Jim Rohn, said, “If you just communicate, you can get by. But if you communicate skillfully, you can work miracles.”

There are three vital things every entrepreneur must consider in the business planning process; branding, pricing and marketing. A business that is able to confidently, skillfully and consistently convince its target audience to buy into its brand is more likely to generate both profits and a loyal following than one that struggles to build a connection.

Sales consulting firm, The Bridge Group, in a study, found that it takes an average of seven touches to convert a “suspect” (potential client) to a “prospect” (willing to consider making a purchase). In more complex sales processes it takes between nine and eleven touches – and sometimes more – before a deal is closed. As an entrepreneur, this means not giving up on marketing too early in the relationship-building process.

An effective marketing strategy is the lifeline of any and every enterprise. Without marketing, a business is virtually invisible. And without confidence in one’s own vision or brand, it’s impossible to deliver a convincing message that converts prospects to clients.

Confidence grows with experience and accomplishment. Whether you’re an aspiring, new or established entrepreneur, remember that success is a journey and every achievement serves as an anchor to remind you that nothing is impossible with confidence, focus and resilience.

Here are 10 confidence boosting tips for entrepreneurs:

1.      Know Yourself
Get clear on your personal identity as well as brand identity. What are your personal values? What are your business principles? What are your brand pillars? What is your core message and at whom is it aimed? When you know who you are and others are clear about the same, they will know if your brand is for them and gravitate towards you. If potential clients or investors are confused about this, they’ll go elsewhere.

 2.    Know Your Worth
Understand that just because you charge less doesn’t mean you will attract more clients. It’s interesting that high value clients do not mind paying more for high quality products and services. Do not be afraid to articulate your worth or ask for a sale. Create value and deliver on your promises. Building trust goes a long way in proving your worth in the market place.

 3.      Know Your Product/Service
What exactly are you offering your clients through your product or service? What problem is it solving for them? How does it work and what are the benefits users will derive? If you don’t know your unique offering, you’ll struggle to confidently convince the market place of your worth.

4.      Know Your Target Market
Who are your potential or current clients? What do they want? It’s great to know what they need but that is
irrelevant when creating your product, service or marketing campaign. As an entrepreneur your success is dependent on delivering what the market wants and demands.

 5.     Know Your Industry
Who are your competitors? What changes are taking place in your industry that will influence how you market your brand and deliver on your promises? How is the world economy influencing your industry? How can you become dynamic in your strategy?

 6.     Continuous Professional Development (CPD) and Research & Development (R&D)
To remain competitive you need to keep learning and growing. Create a budget that includes courses, conferences, training or market reports. Staying abreast with changes in your industry, technology and world economy will help your creative process and boost your confidence when networking or pitching to investors.

 7.      Build Credibility
In my early years as a new business owner, one of the challenges I faced was the limited experience I had as compared to more accomplished coaches and speakers in my industry. Clients wanted to know who I had worked with and what they had achieved as a result of working with me. I overcame this by offering my services at an introductory price for a limited period in order to build the credibility and testimonials I needed to confidently market my services.
There’s nothing wrong with offering introductory prices as part of your marketing strategy. The reality is that clients deserve to know that handing you their hard-earned money is a worthy investment. Once you have credibility in your industry, you have the track record to charge your worth. Go for it!

 8.      Bounce Back from Failure Quickly
Success is not a straight-line. Self-confidence doesn’t mean you won’t blunder along the way. The journey of an entrepreneur is wrought with challenges and pit-falls that come with striking out on your own in pursuit of a purpose you’re passionate about. There will be many good days and some bad ones. On the days that things fall apart, do not wallow in self-pity or stay down for too long. Develop a positive mental attitude by reading inspirational literature, belonging to a mastermind group, listening to inspirational audio
messages or meditating. “Bouncebackability” is easier with a positive mental attitude.

9.      Become A Key Person of Influence
In his book, Become A Key Person of Influence (KPI™ ), Daniel Priestley, shares how he migrated from his native Australia to the United Kingdom and went from being virtually unknown to cracking the UK market and owning one of the most respected and
influential events companies. After seeing more than 100,000 business people networking at his events, Daniel started to notice that some people were magnets for opportunity while others seemed to walk away empty handed over and over again. His book shows entrepreneurs how to effectively market their brands by becoming a KPI™ in their respective industries. I highly recommend it.

10.   Hire An Expert
The value of hiring a professional to help you create and execute your business, marketing or even financial strategies cannot be overstated. Every entrepreneur could use increased exposure, more leads, a financial growth strategy, sustainable business processes and profit generating online systems. A qualified expert with experience and a good track record will help you avoid unnecessary pitfalls and accelerate the result that eludes so many entrepreneurs – profits.

Thanks to Noreen Mak’Osewe, for writing this superb guest blog

Success Coach & Strategist, Writer & Speaker

Professional People Development with

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1 Comment

  1. July 1, 2013 / 7:41 pm

    Resilience is a huge player in entrepreneurial success. It is key to understand that failure is inevitable especially for entrepreneurs. No matter how well-established you may become you still have outside forces such as competition and the economy that have the potential to cripple your profits. But the key is to look at failure as a learning opportunity to advance your efforts. When my company was going through tough times a few years ago, I realized I needed to seek new opportunities. So, I decided to institute a truck fleet management system. As a result, I was able to reduce my fleet's fuel consumption costs, improve efficiency, enhance safe driving practices, and track employee Motor Vehicle Reports. Because of this innovative initiative, I was able to turn my business around.