Overcoming Imposter Syndrome: A Business Owner's Guide

Anna Stubbs • April 10, 2024

It's a common struggle and we probably don’t talk about it. Imposter Syndrome affects individuals from all walks of life, including business owners. It's characterised by a persistent feeling of inadequacy, despite evidence of your competence and accomplishments.

A Harvard Business Review study found that nearly 70% of entrepreneurs have experienced imposter syndrome at some point in their careers. This self-doubt can be particularly debilitating for entrepreneurs, as they navigate the multiple challenges of running a businesses. Understanding and addressing this issue is crucial for personal and professional growth.

Many business owners, despite their achievements, constantly question their abilities and attribute their success to luck or external factors. This mindset can hinder their progress, hinder decision-making, and lead to burnout. So how do you overcome it?

Overcoming Imposter Syndrome

While conquering imposter syndrome is a personal journey, there are practical steps that business owners can take to manage it effectively:

  • Acknowledge and Normalise - Understand that imposter syndrome is common and experienced by many, if not most, successful individuals. Normalise these feelings as a part of the entrepreneurial journey.
  • Track Achievements - Maintain a record of your accomplishments, no matter how small they seem. Regularly reviewing these achievements can help boost confidence and counteract self-doubt.
  • Seek Support and Talk to Others - Talk to your business advisor, a mentor, and others in similar roles. Sharing your thoughts and feelings with someone you trust can provide valuable insights and strategies for overcoming imposter syndrome.
  • Set Realistic Goals - Break your long-term goals into smaller, achievable milestones. This can help you see your progress more clearly and reduce the feeling of being overwhelmed. One step forward can make a huge difference.
  • Embrace Failure - Understand that failure is a part of entrepreneurship. Instead of seeing it as a reflection of your worth, view it as a valuable learning experience. We are all on a path of continuous learning.
  • Practice Self-Compassion - Be kind to yourself. Focus on your strengths and abilities. You may not have all the answers today but that’s entirely normal.


Imposter syndrome is a common challenge faced by many business owners. It can hinder personal growth, decision-making, and overall well-being.


Remember, you are not alone in this struggle, and your achievements are a testament to your capabilities and hard work. We can help you create a plan for your business that removes the uncertainty and builds on your strengths.

The basics of business finance: income and expenditure

By Anna Stubbs • November 15, 2025
Understanding the financial management of your small business is a vital skill as a business owner. And it starts with an awareness of two fundamental concepts: income and expenditure. Grasping the difference between what comes in, and what goes out, is crucial for your financial health, making informed business decisions and the overall survival of the company. Let's break down the basics.

Don't end up paying tax on uncollected debtors!

By Anna Stubbs • November 15, 2025
Did you know you still have to pay tax on uncollected debtors? This is because you pay tax on your sales figures irrespective of whether you have collected the cash.  To avoid paying tax on uncollected debt, here are some quick and easy-to-implement debt collection strategies to ensure your hard-earned money is sitting in your bank account (and not in theirs): Agree on your payment terms at the time of sale Get the Terms of Trade signed off in writing before you start the job Include a guarantee in the payment terms Ask for a deposit Invoice as quickly as you can Change your payment terms to 7 days or ‘on delivery’ Send statements with only two columns – current and OVERDUE Schedule overdue reminders and follow up the day after the due date Put someone other than the business owner in charge of collection – owners are usually too soft! Document what your customers have promised in terms of payment and hold them to it Use a debt collector sooner rather than later – the longer you leave it, the harder the debt will be to collect Stop credit for customers who are late on payment Take action! Reflect on how many of these ideas you've integrated into your business, and check how many you're actively applying. Don’t let procrastination hold you back — address your debtors today! “It’s the squeaky wheel that gets the oil” – Anon

Understanding if your business is profitable

By Anna Stubbs • November 15, 2025
Did your business run at a profit last month? Knowing if you’re currently profitable is a vital part of your financial management – but not everyone knows how to check this metric. A recent Xero survey from October 2025 revealed that nearly two in five small business owners (38%) are unaware whether their business was profitable last month. That’s a startling (and unnecessary) failing when today’s cloud accounting makes it so easy to judge your profitability. Let’s look at what we mean by ‘profitable’ and how to track and measure your profitability.