Imposter Syndrome: The Business Owner’s Challenge

Imposter syndrome is a common psychological phenomenon that causes individuals to doubt their abilities, even when there’s plenty of evidence that they’re doing well. For New Zealand business owners, these feelings can become especially intense if they’re wearing multiple hats, making key decisions, and trying to grow your business under pressure.
Oxygen8 Business Consultant Susan Cooney explores how imposter syndrome affects SME leaders, and how to overcome it.

Why Business Owners Are Especially Vulnerable

Running your own business often means making high-stakes decisions, managing people, and leading growth – usually without a support network. You may feel responsible not just for your own success but also for your team, your clients, and your family’s livelihood.

Common triggers for imposter syndrome in business owners include:

Isolation: Without a team to talk things through, decision-making can feel overwhelming
Financial pressure: When others rely on you for income, the weight of responsibility intensifies
Lack of experience: Especially common in first-time owners or those from non-business backgrounds
Comparison with others: Social media and peer success can magnify feelings of inadequacy

How to Overcome Imposter Syndrome as a Business Owner

Imposter syndrome doesn’t mean you’re unqualified – it just means you’re human. The following strategies can help:

Build a support network
Connect with other business owners or work with a business coaching expert. Sharing your experiences can reduce isolation and offer perspective.
Acknowledge your wins
Celebrate progress. Even small victories prove growth and help reframe self-doubt.
Structure your business
Systems create clarity and remove guesswork. Defined roles, processes, and tools support confident leadership.
Seek outside perspective
Mentors, advisors, or consultants can help you spot strengths and build strategies grounded in real results.
Don’t dramatise failure
Every mistake is an opportunity to learn and improve. Leadership means adapting, not being perfect.

Client Story: Studio Hound

“Running a business with no experience was hard. Oxygen8 gave me confidence, direction, and made it all feel possible – and even enjoyable.”
– Studio Hound

When Vivian Chen took over Studio Hound, she had no systems, no booking process, and no client data. With support from Oxygen8, she built structure and direction into her business. Today, she leads a growing team, enjoys improved productivity, and approaches each day with more confidence in herself and her business.

How to Support a Team Struggling with Imposter Syndrome

If you’re a business leader, imposter syndrome might be affecting others in your organisation too. Common signs include:

Perfectionism or fear of making mistakes
Difficulty accepting praise
Overworking to “prove” worth
Avoiding leadership or new responsibilities

As a leader, you can create a supportive workplace by normalising feedback, encouraging learning, and recognising both effort and results.

Final Thoughts

Imposter syndrome may be common, but it doesn’t have to be permanent. Through structure, support, and mindset shifts, business owners can move from self-doubt to confident leadership.
If you’re ready to make that shift, Oxygen8 can help you build clarity and direction through proven business development strategies.
Book your free consultation today.