How Business Owners Hold Themselves Back

Business owners spend a lot of time dreaming about what their business can become. They imagine the people they can help, the employees they can mentor, and the impact they can make in their industry. Over time, some businesses thrive, while others never fully achieve the potential their leaders once envisioned. This can be incredibly frustrating and, at times, downright puzzling.

Sure, some of it could be related to market conditions or business strategy missteps, but more often than not, it’s something more difficult to admit: The entrepreneur is holding themselves back. That can be a hard truth to face, but recognizing it is the first step toward change.

Here are the three most common reasons business owners get in their own way and how to overcome these obstacles:

1. Self-doubt

Sometimes entrepreneurs get paralyzed because they don’t believe they’re as talented, smart, or capable as their competition. They may feel they don’t deserve success or think they lack the skills to perform at a higher level. They choose to play it safe and keep their business stagnant. They rely on what’s worked in the past and resist change, holding themselves and their business back. Self-doubt is one of the most common reasons entrepreneurs fail to grow. In fact, it’s often the most significant obstacle standing between a business owner and their ultimate vision. In many cases, this self-doubt is a key component of what’s known as imposter syndrome.

According to WebMD, imposter syndrome is a psychological pattern in which you doubt your own skills and successes. You feel like you're not as competent or worthy as others believe, and you're afraid that, one day, people will discover “the truth.” While imposter syndrome isn’t a clinical diagnosis, it’s a very real feeling we all get from time to time. The key is recognizing it for what it is and finding ways to work through it.

One way to work through imposter syndrome is to spend time identifying and writing down what you’re feeling when self-doubt begins to creep in. Journaling gives you a chance to analyze those thoughts and notice when they begin. Are they rooted in reality, or can they be addressed with training, coaching or better management tools? Often, this exercise will give you a roadmap for self-improvement.

Another way to challenge self-doubt is to check in with trusted council. Others can see great things in us that we often overlook. A good mentor or friend can also help you identify areas for improvement in a constructive way. Talking openly with someone you can trust can help you figure out if what you’re experiencing is imposter syndrome or something else entirely.

2. Avoiding Discomfort

Who doesn’t love lying on the couch with a blanket, watching a movie or reading a book during a good thunderstorm? It’s much better than being out in the cold, getting wet, and feeling miserable. Humans crave comfort. We design products, from AI search engines and self-driving cars to TV dinners and washing machines, to make our lives easier. We pay for gym memberships and never go! It is in our nature to avoid discomfort.

But in business, discomfort is necessary if you want to gain an edge on the competition and reach the next level. Pushing yourself and your business to do things your competitors avoid opens up new opportunities and builds long-term advantages.

For example, your business might be willing to invest time networking in the community and building relationships through local support groups, while your competitor stays in their store and expects customers to come to them. Networking can be exhausting and uncomfortable! But guess whose business will grow? That’s right: It’s the owner who pushes past the discomfort and makes the effort to connect, promote, and engage.

By opening yourself up to less comfortable ideas and situations, you create the conditions for growth, both personally and professionally.

3. Receiving Disingenuous Advice

This is a tricky subject, but I think it’s one that needs to be addressed. I’m a big believer in seeking outside opinions to help you run your business more effectively and live your life more fully. Having a strong support network is essential for any entrepreneur. The truth is, though, not all advice is good advice, and taking the wrong advice can significantly impact your business and your life.

Humans are wired to look out for their self-interest. Sometimes, entrepreneurs lean on close connections for guidance and support only to discover later that the advice was self-serving or worse, intentionally sabotaging. If you’re a business owner, chances are you’re already smart and capable. As long as you stay aware and avoid falling for manipulation, you should be able to distinguish between helpful and harmful advice.

When you’re building your support network, take time to vet the people you allow in. Think about their motivations. Think about their character, experience, and integrity. Set a high bar based on their wisdom, judgement, and willingness to invest in a genuine relationship. Also consider how you can help them since mutually beneficial relationships are more likely to last and be fulfilling over time.

Remember, don’t rely on the first opinion you hear. Cross-check advice with others in your network. Get opinions and input from your spouse or partner. By gathering multiple opinions or perspectives, you can make more confident, well-rounded decisions and avoid being misled by a single bad suggestion.

Another powerful option is to work with a business coach. The saying, "It's lonely at the top," rings true for many business owners. Sometimes, you need a sounding board, someone qualified, objective, and invested in your success. That's what a good business strategy coach provides.

Do any of these resonate with you? Confronting self-doubt, stepping outside your comfort zone, and filtering out bad advice are all challenging tasks for any entrepreneur. Facing these issues head-on can lead to significant growth, both in your business and in your personal development.

It may seem like a lot of these challenges feel very personal, but I assure you that you’re not alone. Nearly every successful business owner I have known has had to face their own self-doubt, step well outside their personal comfort zone, and learn to trust the right people. In the business world, growth is never easy, but it’s always possible. With commitment, courage, and the right support along the way, you can push past the things that once held you back and experience a greater level of success.

As a business coach and growth strategy consultant, I help entrepreneurs navigate the roadblocks that so often hold them back. With the right support and a clear plan, you too can move forward with greater confidence. If you’re ready to take the next step, let’s connect!

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