In your career, whether in business or your job, how many times have you asked yourself if you are really capable of taking on a new role or mission? And how many times did you understand that it wasn’t the ideal time to deal with challenges?
This type of doubt does not only haunt those who are starting out in the business world or in the job market: even the most experienced can question the knowledge they carry in their luggage when faced with more critical challenges, where the next step may be the one that will put everything to waste. Especially when we’re talking about money. Wrong financial management decisions can spell the end of the business. That’s the weight of the challenge.
In this article, you will learn about the imposter syndrome, the evils of fear of taking a risk of making mistakes, the signs that indicate that you are exaggerating in your demand with yourself and, especially, how to deal with it all – especially with regard to the finances. You will learn three steps to prepare yourself for the new and great challenges of your business and your career, however complex they may be. Have a great read!
Don’t fall into the imposter syndrome
There is a kind of sabotaging thinking that seeks to belittle our own work and attribute success to chance, luck, divine intervention or the actions of other people. This is the so-called “impostor syndrome”, a feeling that your merits do not belong to you and which gives you the feeling that, in reality, you are in the wrong position, waiting for the moment when you will be exposed as a fraud.
Well, this is much more common than you might think. It is estimated that 70% of professionals have already experienced this situation at some point in their career. Albert Einstein experienced this when he once said that he was an “unwitting cheater” and that he did not deserve the attention he received.
But just because it happens frequently doesn’t mean it should be minimized. The imposter syndrome is an important psychological issue that needs to be worked on so as not to impede your growth, either in business or at work. In more serious cases, it can even result in anxiety or depression.
Fear of the risk of making a mistake
One of the biggest fears of entrepreneurs is to make mistakes. This fear can be even greater if the person has never had a business before, so the whole experience will be new to him. The risk will always exist, but we can minimize it through the search for knowledge.
The entrepreneur will make wrong decisions and will make a lot of mistakes. This is a fact for all those who undertake on a daily basis, regardless of the type of function performed or the nature of their business.
You know that, when undertaking, the rules for having your own business are not learned in schools or books. In fact, the greatest possibility of learning is in practice, and that means trying and making mistakes, and then trying again in another way, until you get it right.
Therefore, for an entrepreneur, making mistakes is part of the learning process. However, maximum care is needed not to make mistakes that are fatal to the business. As we know, some errors, being critical to the business, can be definitive and prevent another chance to try again.
Initiatives to reduce uncertainty help identify these most critical possibilities, so that we can set a limit on our ability to dare and not lose everything.
Pay attention to the signs
This misperception of your own worth is common, and this makes the rewards received seem like overkill. Therefore, be aware of the following signs of your way of acting and thinking that may sabotage your decision-making:
1 – Exaggerated effort : do not confuse dedication with obsession. Realize if you want to show results just to justify success and eliminate any imaginary doubt about your ability to occupy a position or perform some task.
2 – Self-deprecation : don’t be intolerant of your own faults. This self-demand in the quest to please other people in everything they do is a heavy and unnecessary burden.
3 – Fear of being discovered : the terror of being unmasked as a fraud makes the person avoid exposing himself, acting discreetly and below his capabilities, in addition to suffering alone with his fears and anxieties.
4 – Procrastination : by always wanting to be 100% correct, you can create a bad habit of postponing tasks so that they are not delivered unsatisfactorily and subject to criticism.
5 – Self-sabotage : the fear of questioning leads to an exaggeration of self-inflation. In your mind, failure will inevitably come, and that makes you more and more anxious. Your way of acting begins to undermine your own achievements.
6 – Constant comparison : you start to believe that anyone else would make better decisions in your position, and this is an extremely unfair comparison, as you compare your defects with other people’s idealizations.
How to deal with it?
To safely take your steps towards growth in your business, it is essential to develop good self-esteem. Many people are gripped by a lack of confidence in their ability to pull this off, and so they take a step back from going solo. In this way, we define important tips for you to develop your self-esteem and face each challenge wisely and safely, regardless of the size of the decisions to be taken from now on.
When decisions involve money
Crises are not always announced. However, even so, there is a possibility that companies are prepared to deal with the economic impacts. The more prepared the company, the less difficult its decision-making will be.
A scenario of market fluctuations certainly requires risky choices. In this way, the first thing to do to minimize the shock of unforeseen events is to maintain constant financial control and the organization of accounts.
With all his knowledge of managerial accounting, costs and prices, the manager manages the cash flow with propriety and constancy. However, he will only be able to maintain financial stability if he is experienced and qualified, and if he periodically reviews the indicators. This means not only guaranteeing operation under normal conditions, but building a fund that can be used on an emergency basis in times of crisis.
3 tips to prepare for a new challenge
Thus, the position of making decisions that may directly interfere with the future of the business is quite complicated, requiring strategic vision and confidence. To improve this attribute in your day-to-day life, we have separated three tips that will help you feel more prepared and, consequently, more assertive when making decisions.
I – Work on your soft skills
Soft skills are those skills that help in the development of emotional and relationship skills in our daily lives.
II – Have an entrepreneurial mindset
Having certain experiences is the best way to learn something and, consequently, gain more confidence in what you do. Therefore, to change your mindset and understand what the main characteristics of an entrepreneurial mindset are, you need to experience it firsthand.
How to develop it? Force yourself out of inertia, learn from your mistakes and be resilient/persistent. Don’t be ashamed to learn from those who know and make the most of your network of contacts (expand it!). This will all be fundamental to activate your entrepreneurial mindset and make you more confident in making your decisions.
Remember: the entrepreneurial mindset is not about ideal conditions. It’s not about having enough financial resources or being in a country with a strong economy. It’s something much deeper, linked to the desire to overcome obstacles and progress in any environment. A successful entrepreneur is able to see opportunities where many people only see problems.
III – Practice self-knowledge
Self-knowledge is the secret to conquering new opportunities. Every entrepreneur, whether business or career, who masters his characteristics, knows his skills and develops self-confidence, manages to make more assertive decisions and overcome the challenges of his journey.
Identify your potential by becoming aware of your limitations and strengths. From this understanding, you will be able to better master your skills and think of the best strategies to manage your limitations. Once the entrepreneur knows his limits, he can seek help from professionals to improve himself or close partnerships that can overcome these flaws.
Know your purpose and that of your business, as this is responsible for the energies you will employ in your activities. The will to accomplish something or achieve certain goals helps you to go further, increasing the level of delivery.
Separate what needs to be delegated and what needs to be centralized. Self-knowledge allows entrepreneurs to learn to trust themselves and others. Learning how and what entrepreneurs need to delegate, in addition to what they can accomplish, is essential for processes to flow with quality, agility and assertiveness.