Imposter syndrome is a well-known phenomenon among working executives. It can be exceptionally damaging in owner-led businesses. Susan Cooney discusses what it is and how to deal with it.
Imposter syndrome is a psychological phenomenon defined as a feeling of self-doubt in one’s abilities and accomplishments. Importantly, it is a self-perceived feeling even in the face of evidence to the contrary.
Imposter syndrome can be particularly intense for business owners, who often wear multiple hats and make high-stakes decisions. The pressure to succeed, coupled with the isolation of leadership, can amplify feelings of inadequacy.
Unique challenges for business owners
Business owners often face a unique set of challenges that contribute to imposter syndrome:
- Isolation: As the leader, you might feel isolated, lacking someone to confide in or bounce ideas off.
- Decision-making pressure: The weight of making critical business decisions can be overwhelming.
- Financial responsibility: The fear of failure is heightened when your livelihood and employees’ jobs depend on your success.
- Comparison to others: It’s easy to compare your business to more established competitors, leading to feelings of inferiority.
Overcoming imposter syndrome as a business owner
While the general strategies for combating imposter syndrome apply, there are specific tactics tailored for business owners:
- Build a strong support network: Connect with other entrepreneurs, join business groups, or seek a mentor. Sharing experiences and challenges can be incredibly helpful.
- Celebrate small wins: Acknowledge and reward your achievements, no matter how small. This helps shift your focus from perceived failures to tangible successes.
- Delegate and trust: Don’t try to do everything yourself. Build a capable team and trust them to handle tasks.
- Seek professional help: Consult a business coach or therapist to gain valuable insights and strategies.
- Focus on your strengths: Identify and leverage your core competencies to build your business.
- Learn from failures: View setbacks as opportunities to learn and grow. Every challenge is a chance to improve.
Feeling like an imposter is common, even among successful entrepreneurs. Recognising the signs and implementing strategies can help you overcome self-doubt and build a thriving business.
Signs of imposter syndrome in employees
While the symptoms can vary, some common indicators of imposter syndrome in employees include:
- Avoidance of challenges: Reluctance to take on new responsibilities or projects.
- Perfectionism: Excessive attention to detail that hinders productivity.
- Overworking: Consistently putting in long hours to compensate for perceived inadequacies.
- Undermining accomplishments: Dismissing successes as luck or external factors.
- Excessive self-criticism: Frequently blaming themselves for mistakes.
Create a supportive workplace culture
As a leader, fostering a supportive work environment is crucial in combating imposter syndrome. Encourage open communication, provide regular feedback, and recognise employees’ achievements. Promote a culture of learning and development, where mistakes are seen as opportunities for growth.
Remember, imposter syndrome is a common experience. By understanding its symptoms and implementing these strategies, you can overcome self-doubt and unlock your full potential.