65% of small businesses fail in their first 10 years.

This is according to the U.S. Bureau of Labor Statistics. Other statistics are even bleaker which makes going into business scary for any entrepreneur. Even so, many entrepreneurs who begin their ventures, are determined to stay the course and work hard to achieve their goals. But with these statistics and potential for failure being top of mind, self-doubt is a common factor that may affect productivity and results.

Do you struggle with self-doubt as a small business owner?

Self-doubt is more destructive than competition, cash flow challenges, and economic instability. Your inner critic makes you question your decisions, avoid risks (and in some cases opportunities), and limits you from following your dreams.

You can overcome self-doubt and make bold decisions without fear or worry to take your business to the next level with these three strategies: –

1. Focus on your journey

Self-doubt often creeps in when you begin to compare yourself with other entrepreneurs, and they seem to be achieving more success than you. Consider that you do not know their journey and what you see on the surface often does not reflect the reality. Instead, focus on your own journey, and create a strategy that will take you from where you are to achieving success.

2. Reflect on your accomplishments

To overcome self-doubt, take a look back at what you have accomplished thus far. How have you managed the pressure of running your business? What tough decisions have you made? How many people benefit from your business through employment or what you offer? A look back will reveal to you the progress that you have made. When you think of where you started, you will see how far you have come and stop doubting your abilities.

3. Review your goal setting

Have you set long-term unrealistic goals? Long-term goals are excellent, but you can encourage yourself by setting attainable short-term goals as well. Take each long-term goal and break it down into short-term goals so that you can celebrate accomplishing the milestones towards what you want to achieve.

Read these tips again the next time you have a moment of sinking confidence when you are facing a challenge. Running a business is stressful enough and you do not need to question your decisions or drown in worry. Always look forward and plan on how you can improve.

For additional support, register to join the High Achiever’s Monthly. In these monthly program, you will interact with like-minded high achievers who will help you recognize and celebrate your success. Click here to register today.

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