Building Confidence in Business

In order to succeed in business, you need to have confidence – not just in your goals and objectives but in yourself.  Sometimes stressors get in the way of having confidence but you have to learn to overcome them.  If not, they’ll become unbearable.  Lack of confidence makes it harder to exercise independent decision-making or take appropriate ownership of tasks and duties.  While in a typical corporate 9-5 job, this can lead to the inability to get raises or promotions, in your own business this can mean the difference between success and failure.  Very few people succeed in business without a degree of confidence.  While some days you’ll be unsure of your abilities, this doesn’t mean they have to hold you back.  Confidence can lead to security which in turn leads to better performance.  “Overcoming self-doubt starts with honestly assessing your abilities (and your shortcomings) and then getting comfortable enough to capitalize on (or correct) them.”  So how to make sure you project confidence in business?

First off, preparation is key.  Prepare for your work environment by analyzing the skills that are necessary to do your job effectively.  Identify competencies you’ll need to get your job done so that you can better serve clients and customers alike.  If you feel you don’t possess a certain skill set or are lacking in a certain area, take steps to develop those skills.  Find training through a class or direction through a mentor.  Commit yourself every day to developing yourself and your abilities.

Identify your strengths and weaknesses.  Take inventory of both and try to improve upon them.  “Knowing how your character and abilities can positively affect your work setting will increase your confidence level.”  Recognize areas where you feel you are a superior performer and capitalize on them.  Additionally, recognize areas in which you are lacking and evaluate them so that you can start to add value to your work.

Set both long- and short-term goals for yourself that are both reasonable and achievable.  Celebrate your wins along the way.  Sometimes it’s best to start out small.  If you feel overwhelmed that you need to make 50 sales calls in a week, make 10 a day.  Taking small portions of an overall overwhelming goal can make getting there that much more manageable.  Reward yourself for your success or in essence, give yourself that proverbial “pat on the back” when you achieve your goals.  This will lead to an increase in confidence and move you all the more closer to success in the long run.

Manage your environment by controlling internal and external input.  You need to realize that sometimes there will be negative people or detractors that you’ll meet in business.  Try to avoid listening to them.  “Recognize that their negativity is not a reflection of your value but instead is a representation of their lack of understanding.”  Oftentimes, the poor attitudes of others result from their own failures.  Remind yourself that you add value through your work and that your services are needed and wanted by clients and customers alike.

Be prepared.  As the old saying goes: “Practice makes perfect.”  While this might seem trite, it’s true.  The best way to build confidence in your business abilities is to invest positive energy into them.  Don’t give up or throw in the towel when things get difficult.  Remind yourself that it takes time to build confidence but that if you keep trying, you’ll get there.  “Deliberate practice will almost always trump natural aptitude.”

Get out of your own way.  Confident people are willing to admit that they don’t have all the answers at all times.  Recognize the times you need help and be willing to accept it.  You should always be willing to learn and grow in your business endeavors.  Accept guidance and support when it’s offered.  

Ask colleagues or mentors for feedback when you need it.  While you don’t want to rely solely on others, looking to them doesn’t mean a lack of confidence.  In fact, it will often lead to building confidence.  Validation can be key when you’re looking to build your confidence.  Ask people that will be truthful; don’t just surround yourself with “yes men.”  It’s also OK to ask for a pep talk once in a while.  Do whatever it takes to build that confidence that will lead on to success.

Lastly, try taking risks when you can.  If you fail, so what?  The point is: You can pick yourself back up from failure and in turn, try again, succeed and build confidence that way.  While it’s always good to fall back on your known strengths, don’t hesitate to take on new challenges.  Most people don’t know what they’re truly capable of until they’re tested.  So allow yourself to face difficult situations and learn from them by taking away the positives from said situations.  Obviously, this is often easier said than done but by taking a leap of faith with stressors, you can build up your abilities which in turn leads to building up your confidence.

Remember, building up confidence takes time so don’t get down on yourself if it doesn’t happen overnight.  Be honest with yourself about what you know and also what you still need to learn.  Embrace new opportunities even if they are daunting.  Don’t focus excessively on the abilities you don’t have.  Instead, work hard to improve them.  If you follow these guidelines, confidence will follow and confidence most always leads on to business success!

Here are some articles you might want to check out about building confidence in business:

“10 Ways to Be More Confident at Work”: http://www.forbes.com/sites/jacquelynsmith/2013/03/05/10-ways-to-be-more-confident-at-work/

“What Self-confidence Can Mean to Your Business”: http://www.blogtrepreneur.com/2010/11/17/what-self-confidence-can-mean-to-your-business/

“How to Improve Your Self-confidence in Business”: http://www.essortment.com/improve-self-confidence-business-35762.html

Until next time…

Taking Risks in Business

Risk is a fundamental part of life as it is in any business.  That said, being a risk taker in business is not the same thing as being reckless.  While the word risk might have negative associations to some (that it implies danger and loss), it can be viewed as a positive in business.  If you face challenges and overcome the unknown, you gain the possibility of making a big ROI.  No matter what type of business you run, if you’re not taking risks, then you’re not progressing.  It becomes easier to find new opportunities when you take calculated risks.  While there is always a chance you’re risk might not pay off, there are also times when they will pay.  It’s hard to move forward when you’re playing it safe all the time.  A business is grown by risk taking.  You have to take risks on a consistent basis to create new opportunities and boost your chances of success.  So how to take risks in business without jeopardizing your bottom line?

Look for a new trend.  There are always new and popular trends going on.  Be open to them – don’t box yourself in.  While you may feel that you’ve backed yourself into a niche with your business, you’ll always find that new opportunities present.  Smart entrepreneurs know how to discover and tap into new trends.  Always be on the lookout for them and try and explore them.  Of course, don’t just pounce on any new trend – weigh the pros and cons first.  You have to analyze whether it will be profitable for your business and whether it is the right time to go after such a new opportunity.  Once you’ve balanced all the factors, consider going ahead and capitalizing.

Find an untapped niche.  No matter what type of business you run or what types of products you’re selling, you can always expand your business by looking at under-served niche markets.  Many entrepreneurs fail to capitalize on such an opportunity because they are scared to go outside their comfort zones.  “They don’t really want to risk the reputation or brand they’ve [already] built.”  While it might seem daunting and risky, it’s really not.  The only risk you run is that you won’t have a profitable audience but if there are even a few other businesses operating in that space, there’s no reason you can’t as well.

Look at your competitors’ weaknesses and fill in the gaps they’ve left in the marketplace.  Make their weak points your point of strength.  “This way the risk you take is not only well calculated but also is headed in the right direction.”  To create a successful business you have to be one step ahead of the competition.  By analyzing your competitors, you make your approach to the marketplace more refined.  You should aim to take consistent risks that don’t affect your overall progress or bring you losses you can’t afford.

Chuck the conventional wisdom.  Break some rules and follow others.  “Creating a highly successful business requires that you do things on your own.”  Sometimes it’s better to follow your heart than your head even if that sounds counterintuitive in business.  You want to step outside your comfort zone.  Experiment with new ideas.  Try and find ways to do things that were never done before.

Trust your instincts.  “Your gut feeling can be a great navigator, which can help you take big risks easily.”  Intuition is just another form of knowledge so if you trust your instinct, taking a risk doesn’t seem that scary.  Your intuition often serves you better than rational thinking.

Lastly and possibly most importantly, do something scary every day.  Try new things and new approaches to doing business.  Taking risks involves vulnerability.  Don’t let fear hold you back.  Think of new and innovative ways to approach your business goals.

Here are some articles you might want to check out about taking risks in business:

“Taking Risks in Business Can Help You Make Big Bucks”: http://ezinearticles.com/?Taking-Risks-in-Business-Can-Help-You-Make-Good-Bucks&id=6698688

“Why You Should Take Risks in Business”: http://www.lorensworld.com/business/why-you-should-take-risks-in-business/

“How Do I Take a Risk in Business”: http://smallbusiness.chron.com/risk-business-5133.html

“10 Smart Ways Successful Entrepreneurs Take Risks”: http://www.youngentrepreneur.com/blog/10-smart-ways-successful-entrepreneurs-take-risks/

Until next time…

Having Courage in Business

It take a lot of courage to become an entrepreneur so if you are one, you are probably already a relatively courageous person.  Starting your own business involves a lot of risk but staying in business involves courage, that you are willing to continue to face that risk.  It’s not unusual to continue to face fear when growing your business and once you’ve achieved a certain degree of success, it’s tempting to maintain the status quo – to no longer have the courage to take risks and grow your business; to settle for the business you already have.  So how to stay courageous in business?

Gather your allies.  It’s undoubtedly true that every courageous person in history had at least one person behind them that believed in them and stood by them, whether it was a mentor a partner or a friend – basically standing in the wings cheering them on and giving them encouragement.  It’s important to surround yourself with people in your life who believe in you if you want to maintain courage.  “They don’t even need to truly understand your goals, although it helps.”  The reason they’re there is to help you when you fall and give you the support to keep going even when you want to give up.  Often the difference between success and failure is whether or not you have a support system in place – even just one person who can give you the strength to move forward when you want to quit.  Remember, you’re not looking for approval; you’re looking for support.

Start small.  “Finding your own courage doesn’t have to be about a grand gesture at first.”  If you haven’t stood up for yourself before, start there.  Start standing your ground and asserting yourself.  If you want to start your own venture but are scared to quit your job, work on it part time on the side.  It’s the starting point that’s important.  As you start to stand up for yourself, your confidence and courage will grow.  Eventually, you’ll be able to take on greater risk and be courageous enough to face any battle that comes your way.

Be prepared to fail.  “Courage is going from failure to failure without losing enthusiasm.”  In business no doubt, you will fail at times.  The trick is to get up after you fail and take another shot at success.  Each failure brings you one step closer to the ultimate success.  Learn from failure; use it as an experience to grow and gain courage along the way.  Find the lesson in your failure, think about it, regroup and try a different way.  Failure isn’t the end – it’s merely a stepping stone in the process to success.

Ignore negativity.  There are always going to be negative people around you whispering in your ear or behind your back that you can’t do what you’re setting out to do.  Don’t listen to those people and be discouraged.  “You are the architect of your own destiny and if you allow others to influence you, you will never find out what you really could have achieved.”  It takes courage to ignore the naysayers.

Have self-belief.  To find true courage, you have to be committed to finding it.  If you don’t believe one hundred percent in what you’re saying, doing or dreaming, you will never find the courage to persevere not just in business but in life.  Fight the battles that are worth fighting.

Fake it until you make it.  You don’t have to be courageous at the core to exude courage.  You do need to act rather than think or speak or dream courage.  Don’t let them see you sweat.  The way you carry yourself in business is key.  Act courageous and others will see you that way.

Embrace the unknown.  “When you think about why we fear the dark, the answer is simple: Darkness removes sight leaving everything that lies within it unknown.”  If you can learn to embrace the unknown, courage will follow.  Many people tend to stay in jobs they hate rather than taking on the challenge of going out on their own because they fear the unknown.  Don’t be afraid to have the courage to try new things and take on unknown experiences.

Let your conscience be your guide and roadmap.  Take a stand against injustice and don’t let it derail your progress. Some of the most courageous people in the world have become just that because their conscience simply wouldn’t allow them to ignore what was happening around them.

Let the fear in and overcome it.  “Courage is not the absence of fear.  True courage is feeling fear but doing what needs to be done anyway.”  Become an active participant in your life goals and business dreams.  Don’t just be a bystander.

Lastly and most importantly, never give up!  It takes both courage and determination to truly go after what you want and take what may seem to be the unattainable and make it attainable.  If you’re feeling down or a business deal falls through, pick yourself back up and keep going.  Courage is not merely word, it’s a state of mind.  “If you can cultivate a courageous state of mind and never give up on what you want, eventually, you will reach your goals.”

Here are some articles you might want to check out about being courageous in business:

“Cultivating Courage in Business”: http://cfthemagazine.com/2011-03/cultivating-courage-in-business/

“How to Have More Courage in Business”: http://www.simplicitymktg.com/how-to-tips/how-to-have-more-courage-in-business/

“Courage in Business – A Good Thing”: http://www.marchfifteen.ca/courage-in-business-a-good-thing/

Until next time…