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Overcoming Imposter Syndrome: A Business Owner's Guide

Anna Stubbs • Apr 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.

Are loans to directors and employees tax free?

By Anna Stubbs • 14 May, 2024
If you’re a director then taking out a director's loan against the cash in your limited company might seem like a sensible thing to do. But the reality is that overdrawn loans to directors can lead to unintended tax consequences if they’re not properly managed.

HMRC is cracking down on additional income sources

By Anna Stubbs • 14 May, 2024
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The seventh cause of poor cashflow - Sales levels are too low

By Anna Stubbs • 19 Apr, 2024
It might sound obvious, but it isn’t to many businesses. If current sales levels don’t support the overheads and other cash demands on the business, then your overdraft will keep increasing. This means that your business in its current state is not viable (unless you have ongoing access to new funds from investors or financiers). There are five ways to improve your sales levels. These are: 1 . Increase customer retention . Stop your customers from defecting to the competition. 2 . Generate more leads . Gain more enquiries from people who are not yet customers. 3. Increase your sales conversion rate. Get more of your prospects to buy from you. 4. Increase transaction frequency. Engage your customers to buy from you more often. 5. Increase transaction value. Help your customers to buy more products or services from you. There are literally hundreds of individual strategies that you can implement within these categories to increase sales. Sending you a list would be pretty silly of us and overwhelming for you. Some strategies don’t apply to your industry, and some just won’t work in your business for whatever reason. What we have found through experiencing a wide range of client situations over the years, is that certain things do work in each type of business. There’s a pattern that we see in clients - both good and bad! How does a business grow its sales without its owners becoming overwhelmed by a mountain of change? The best and most supportive way to grow and improve a business is to have someone looking over your shoulder from time to time, helping you build a plan and a forecast, and keeping you accountable to making the changes that will make the most important differences. Without that support, we all end up in our business and never working on it. Talk to us about how we can provide that support.
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