Today is a good day.
You closed a deal, got paid $10,000, and the people on your team all seem to love their job.
Why does anyone work a 9-5 gig?
Starting this biz was the best thing I ever did.
I’m a genius. I’m brilliant. I’m successful.
But tomorrow, everything changes.
Instead of closing deals and raking in cash, you’re wondering why an employee didn’t show up for work, trying to fill that gap for the day. Your sales system seems to be falling apart… leads keep hanging up half-way through your pitch. You also realize you made a mistake on your direct mailers yesterday and put the wrong phone number ($1,000 wasted). To top it all off, you got in an argument with your spouse this morning.
Why did I ever start this business?
Maybe I’m just not cut out for this kind of thing…
Other entrepreneurs don’t seem to be going through the same things I’m going through…
You know what I’m talking about… your self-esteem fluctuates, from day to day, based on how successful your business is, how much money you’re making, how happy your family is, and whether you woke up on time, exercised, or ate pizza last night.
An infinite amount of factors threaten to derail you… and your business.
Let me explain.
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Businesses Fail Because Of Bad Decisions… Entrepreneurs Fail Because Of Low Self-Esteem
What are the top reasons that businesses fail? That’s easy. In fact, here are the top 20 reasons.
And while “Burn Out” and “Lack Passion” sit near the bottom, we must ask the question…
When 42% of failed entrepreneurs realized their wasn’t a market need for their product, why didn’t they pivot? Why didn’t they seek out an expert for advice on next steps? Why didn’t they alter their product slightly?
When 29% of failed entrepreneurs ran out of cash, why didn’t they seek out more investors? Why didn’t they adjust their business model to be more profitable? Why didn’t they find a way to solve the problem?
The answer is dead simple.
Because the entrepreneur stopped believing it was possible.
That is the only reason that an entrepreneur throws in the towel and gets a day job (unless their priorities and passions had an adjustment, of course). That’s the only reason that an entrepreneur doesn’t pivot when necessary. And it’s the only reason that an entrepreneur stops facing unexpected challenges as mountains to conquer and starts viewing them as un-conquerable mountains.
The joy of entrepreneurship is in solving problems.
When you stop solving problems, when you stop believing that you’re capable of solving any problem, your business suffers — fails completely, even.
More importantly, you stop pursuing the thing that you were so passionate about.
Your Self-Esteem Directly Influences How Successful You Are
Ever known that person who was super annoyingly in love with themself?
They smile a lot. Impending problems don’t seem to bother them at all. And they always just know that they can solve any issue that comes their way. To us, they sometimes seem a bit… conceited, arrogant, irritating.
But there’s no denying it, they really believe in themselves.
The truth is, believing that you can conquer any challenge, believing that you are the best person for this entrepreneurial journey, believing that you are wired to succeed…
Those things will contribute to your longterm success more than anything else.
(That’s why you sometimes see arrogant A-holes that are so successful. Try to find the balance between confidence and arrogance — see the 1 powerful way to increase your self-esteem below. That should solve the problem. 😉 ).
Ryan is fond of saying, “Every time I’ve bet on myself, I’ve never lost.”
That is just the kind of confidence you should have in yourself. The confidence to put money on your own ambitions and believe it’ll pay you back 10 fold. The confidence to hire people because you believe you can learn to be a good manager. The confidence to keep going when everything is falling apart because… well, you’re the best person for the job.
And you know it (even if you’ve screwed up hundreds of times in the past).
If you know you’re going to win in the end, you will win. Plain and simple.
Have you ever met a consistently confident person who didn’t get everything they wanted out of life? Probably not.
Have you ever met a low-confidence person who was wildly successful? Probably not.
Can you even think of a single million- or billion-aire who doesn’t have the utmost confidence in themselves? I can’t.
1 Powerful, Dead-Easy Way To Increase Your Self-Esteem
That’s all good and dandy…
But now the rubber hits the road.
How do I increase my self-confidence practically.
And there are a lot of answers to that question. Consistent exercise, eating a healthy diet, meditation, pursuing hobbies, and even traveling can all make you a more confident person.
But there’s one thing that is more powerful than all of those habits combined…
Paying it forward.
Become a consistent giver. Give to a charity of your choice every month (something that gets you excited), leave a little extra tip every time you go out to eat, be generous and lavish with your compliments, and be the kind of person who wants to leave this world a little better off then you found it.
Why would that increase your self confidence?
Because when you have clear evidence that you’re working toward something bigger than yourself (making the world a better place), that you’re a selfless giver, and that you are a good person…
…when you believe you’re a good person… you feel better (giving generates far more dopamine than receiving) and your self-confidence skyrockets.
Deep down, you believe that good people can conquer any problems that come their way. They keep going when things get tough, treating challenges like the opportunity for growth that they are. They smile more, they feel better, and they know why they’re getting out of bed in the morning.
When you have evidence that you’re a good person, you love yourself more (I know it’s cheesy) and you trust yourself more. You believe in yourself more.
It’s a small thing, an easy thing, something that’s easy to throw over the shoulder…
Meh… that won’t make a difference.
But don’t knock it til you’ve tried it.
It might just be the self-confidence pill you’ve been needing. The one that will help you trust yourself again, build the business of your dreams, and live a life you are immensely proud of.