Are You Struggling to Realize Your Success as a Business Owner or Entrepreneur?

Are You Struggling to Realize Your Success as a Business Owner or Entrepreneur?
Jun 2020

5 Indicators You May Be Experiencing Impostor Syndrome

Are you struggling to realize your success as a business owner / entrepreneur? You have talent, the will and the gumption to strike out on your own and make your mark on the world, however, you may still have those niggling self-doubt issues and wonder ‘who am I’ to be able to achieve this?   Running a business is tough enough without the added burden of the stress of energy-sucking thoughts that fuel anxiety, zap your confidence and crush your capacity to take productive action.

Here are five indicators that will answer: Are You Struggling to Realize Your Success as a Business Owner or Entrepreneur?

  1. Undercharging for Services
    Too many entrepreneurs – coaches, trainers, consultants and professional services providers undervalue their services.  They charge lower-than-market hourly rates, undercut fees for speaking, trainings or projects or even throw in added ‘freebie’ resources, products or disbursements.  Another version of underearning happens with advisors who are compensated through commissions.   If you don’t feel you deserve to have high income or high net worth clients you potentially miss out on a more lucrative income yourself.
  2. Giving Away Time
    This is similar to undercharging but shows up in a slightly different way.  You may chop hours off your invoice, provide additional services without re-negotiating the scope of the project or neglect to factor in travel, administrative or consultation time. This issue can be addressed through a self-disciplined approach, you restrict your time only to what you have promised or contracted for.  Keep track and resist the temptation to ‘compensate for your lack of capability’ by providing more time or deliverables than are required or expected.
  3. Struggling with the Question – “What Do You Do?”
    Claiming your expertise, and you do need to be viewed as an expert, is especially challenging to someone who struggles to recognize their achievements and successes as valid and valuable.   Saying that you are a financial advisor gives no clue to the unique talents, perspective, experience or skills you have to offer, and must offer, in order to differentiate yourself in a meaningful way from the hundreds, if not thousands of others that do what you do.   The systems, tools or techniques you use (unless you created them yourself) do not describe the benefits and value you have to offer to clients who want and are willing to pay for them.
    We almost always need help with this challenge, it is difficult to see the proverbial label on the outside of our own jars.   Ask a friend, colleague, coach or consultant to help you identify your unique competitive advantage, your genius, your particular perspective or approach and the value those bring to your customers and clients.
  4. Overworking Everything –
    Your offers, your proposals, your contracts, your marketing messages, your social media posts…you name it.   Do you find yourself in endless editing, never-ending re-designing, or perpetual crossing of t’s and dotting the i’s?  All this activity serves a purpose – to avoid putting yourself forward and gamble being seen as unprepared, incompetent or a fake.  Better to play safe by diddling rather than risk possible (but improbable) humiliation, embarrassment or exposure.
    Best approach here – step away and hand off the work.  Get your fingers out of the pie and into the hands of a capable VA, designer, marketer, whoever, so that you use your time creating real value in your business.
  5. Hesitant to Ask for Testimonials
    Even though your customers or clients have expressed their heart-felt appreciation for what you have helped them accomplish, you are reticent to ask them to provide written or spoken testimonials.  You are sure that they are just being kind and don’t have the heart to tell you how you fell short or missed the mark.  You feel you are being a burden, just for asking and certainly don’t want to impose by making specific requests for their statements.
    Solution – fess up.  Tell your clients you value them and their business would appreciate a testimonial.  Give him or her a list of questions to answer:  What was their before and after story? What hesitations did they have about working with you initially? What was the biggest benefit or key take-away?  What surprised them or what did they like best about working with you?   Compose a testimonial from their responses and then submit for their final approval.  Much easier for both of you.

Over the course of time I have been coaching professionals, business owners and consultants, I have found that many who experience unexplained anxiety feel strongly like impostors in spite of their obvious intelligence, talents and capabilities.  If you are curious about your own confusion, worry and fears, consider connecting with me for a complimentary 30- minute clarity conversation.  Discover what is in your way of feeling great about yourself, your accomplishments and your potential.

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