5 Tips to Stay Confident as a First-Time Entrepreneur

The life of an entrepreneur is filled with ups and downs. There will be days when everything runs smoothly and you feel accomplished, but there will also be times when you face challenges and uncertainty. The single most effective weapon you’ll wield in these tough times is your confidence. But, if this is something you struggle with, don’t worry. None of us are born with unwavering belief in ourselves, it’s something you learn and nurture. To give you a head start, here are five tips to stay confident as a first-time entrepreneur:

1. Seek Mentorship

One of entrepreneurship’s greatest thrills is becoming your own boss. You don’t have to answer to anyone and your business’ future depends on you. 

While this is a great aspect of entrepreneurship, it’s nice to have someone to discuss big decisions with – a position that can be filled by a mentor. They should be someone with experience in the business world, and who can help you avoid common pitfalls. Having a guide to turn to will allow you to move forward with more confidence.

2. Learn from Setbacks

Before turning Apple into the corporate giant it is today, Steve Jobs found himself out of luck and fired from his position at Apple.“What had been the focus of my entire adult life, was gone. It was devastating,” he said at the time.

This setback inspired Jobs to better himself. He founded NeXT and helped the animation studio, Pixar, gain success in the entertainment world. He took setbacks in stride and returned to Apple, prepared to take on the world.

Every entrepreneur, no matter how dedicated or talented, will face setbacks on their journey. It’s how you respond to setbacks that matters.

3. Welcome Discomfort

As a first-time entrepreneur, you’re going to have to tackle issues you’ve never faced before. It’s normal to feel uncomfortable, but you shouldn’t let that get in your way.

Responding to these challenges successfully will demonstrate your ability to handle anything that’s thrown at you. Every milestone you reach proves you can do this and that success is within your reach. The more discomfort you tackle head-on, the less you’ll fear new challenges.

4. Embrace the Word ‘No’

Don’t spread yourself too thin. Our natural inclination is to keep people happy, which can be amplified when you’re starting out and trying to build business relationships. But, this could easily lead to burn out.

Failures you suffer as a result of being too eager to please can contribute to worsening your self-belief. Respect your own time, mental health, and resources by learning to say ‘no’ when it’s appropriate.

5. Celebrate Every Win

It’s crucial to take time to acknowledge your victories as an entrepreneur, no matter how small. Whether it’s a sale, a contract, or even a bit of good news, allow yourself a little celebration to validate your hard work. Celebrating will create a more positive feeling to associate with your small business. The more victories you savour, the more you’ll be motivated to keep working hard.

Small Business BC is Here to Help

SBBC is a non-profit resource centre for BC-based small businesses. Whatever your idea of success is, we’re here to provide holistic support and resources at every step of the journey. Check out our range of business webinars, on-demand E-Learning Education, our Talk to an Expert Advisories, or browse our business articles.