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Imposter syndrome is a psychological phenomenon that can affect anyone, but it often affects entrepreneurs. It’s the feeling of being an impostor and like you don’t deserve your success. This post will help small business owners overcome imposter syndrome so they can save their business from ruin.

Why small businesses fail

According to the Bureau of Labor Statistics, 70 percent of all businesses with employees fail within 10 years. Interesting fact is that the research says this number has less to do with the economic climate, but more to do with the business owner’s skills, knowledge, access to information and leadership skills.

Coincidence or not, an estimated 70% of people experience impostor feelings at some point in their lives, according to a review article published in the International Journal of Behavioral Science. 

“Imposter syndrome can be such a heavy subject and barrier to success for many people. And since it’s perceived as taboo by many, people dealing with imposter syndrome simply don’t feel comfortable talking about their struggles with it,” said Orlando Baeza, CMO of Kajabi. “The biggest downside is feeling isolated and as though you don’t have a community to turn to or resources for how to move past it.”

The best visibility and growth strategies in the world will not move the needle – not even an inch – if you, as a business leader, are too afraid to take action. Left untreated, the feeling like a fraud will not go away by itself. When you ignore it, imposter syndrome begins to impact both your decision making and mental health, causing anxiety, depression and a feeling that you are stuck.

Who can EXPERIENCE impostor feelings?

Short answer: anyone, men or women, a natural genius, a beginner, an award winning artist, students, someone who is a high level job or someone who is in a freelancing position. A person who lives in New York or a person who lives in any other city of the world can experience impostor syndrome.

This syndrome impacts brick and mortar and online business owners alike.

What is impostor syndrome

Impostor syndrome is a concept found in cognitive psychology, which explains the feelings of inadequacy and intellectual insecurity some people feel. These feelings are seen as common among high achieving individuals like successful entrepreneurs who believe that they have been lucky to reach their level of success when in reality, they can attribute much of it to what they’ve done.

The impostor phenomenon was first described by psychologists Suzanne Imes, PhD, and Pauline Rose Clance, PhD, in the 1970s. Their initial study focused on high-achieving women (Source: Clance PR, Imes SA. The imposter phenomenon in high achieving women: Dynamics and therapeutic intervention), which is why it was thought that only women who are high achievers experience impostor phenomenon.

Psychologists Pauline Rose Clance and Suzanne Imes explain that people who struggle with imposter syndrome will often attribute their accomplishments to luck rather than to ability, and fear that others will eventually unmask them as a fraud.

Recent research published in the International Journal of Behavioral Sciences (2011) confirmed that men feel like a fraud as well. According to Harvard psychologist Amy Cuddy men simply do not talk about having imposter feelings. They hide it.

“In private practice, it wasn’t as common for men to talk about it. But when [the survey that diagnoses the impostor phenomenon] was anonymous, men were expressing it to the same degree as women.” says Amy Cuddy on impostor syndrome in men.

How do entrepreneurs experience imposter syndrome?

• The more you accomplish, the more you just feel like a fraud.

• You keep asking yourself “What gives me the right to be here?”

• You feel like you don’t deserve to be in a leader position and maybe that you should get a real job.

• When you run into a difficult task, you believe that a more competent person will be able to handle anything faster or easier.

• You have a belief that someone more successful will be able to promote their business with more confidence.

• You have a tendency to over work yourself because you believe every minute of your life needs to be invested in becoming the expert, the leader that people think you are.

• When you get good results, you believe that it was due to luck or some other factor that you had not control or influence over.

• You attempt to do everything yourself, because if you can’t do it yourself, you’re not a good leader or a true expert.

• You feel ashamed if you discover that something doesn’t come easily to you or if you fail to succeed on your first try.

• The work you do must be perfect, but to a standard that isn’t really achievable by anyone else.

• You always push yourself to work harder, to be better, which drives you into burnout very often.

• You struggle with self doubt and low self worth, you believe your accomplishments are not good enough and you secretly worry about peers calling you out like an impostor.

• Failure is something you dread – and when it happens it reinforces your impostor feelings and causing more self doubt.

• You think you have tricked others into thinking you are more successful than you actually are.

Have you ever felt like an impostor?

You’re not alone. Impostor syndrome is a common problem in the business world. It’s when entrepreneurs, CEOs, leaders and even employees feel like they don’t have what it takes to succeed, despite their achievements and successes.

Impostor syndrome is a very real and serious issue for many entrepreneurs. It’s not just the people who have achieved success, but those on the way to it as well. The feeling of being a fraud can be so strong that it impairs work performance and mental health. Luckily there are books available that will help you accept, recognize and overcome imposter syndrome so you can save your business!

4 Books To Save Your Business from the Impostor Phenomenon

The Secret Thoughts of Successful Women: Why Capable People Suffer from the Impostor Syndrome and How to Thrive in Spite of It – Book by Valerie Young

Book available on Amazon

“You can have all the confidence in the world and still be reluctant to self-promote out of a steadfast belief that a person’s work should speak for itself. It doesn’t.” – Valerie Young

“Then there are families for whom education was not the focus at all. Instead children were expected to go into the family business, join the military, marry and have children, enter the clergy, or grow up to be a contributing member of one’s racial, religious, or cultural group—something some African, Latino, Native, and Asian Americans refer to as “collective success.” – Valerie Young

“Non-impostors who work hard do so because that’s what’s required to get the job done. When their diligence pays off, it enhances their confidence. But when your work pays off, you mostly feel relief.” – Valerie Young

“The major reframe for the Superwoman/Man/Student is that competence is not a function of how many things you can do.” – Valerie Young

Presence: Bringing Your Boldest Self to Your Biggest Challenges – Book by Amy Cuddy

Book available on Amazon

“focus less on the impression you’re making on others and more on the impression you’re making on yourself.” ― Amy Cuddy

“This is how self-fulfilling prophecies work: we have an expectation about who someone is and how she’s likely to behave, then we treat her in a way that is likely to elicit those behaviors, thus confirming our initial expectations… and so on.” ― Amy Cuddy

“Impostorism causes us to overthink and second-guess. It makes us fixate on how we think others are judging us (in these fixations, we’re usually wrong), then fixate some more on how those judgments might poison our interactions. We’re scattered—worrying that we underprepared, obsessing about what we should be doing, mentally reviewing what we said five seconds earlier, fretting about what people think of us and what that will mean for us tomorrow.” ― Amy Cuddy

The Imposter Cure: How to Stop Feeling Like a Fraud and Escape the Mind-trap of Imposter Syndrome – Book by Dr. Jessamy Hibberd

Book available on Amazon

“I’ve come to realize that imposter syndrome involves much more than just feeling fraudulent and that it presents itself in a long list of different ways. It may appear as insecurity, self-doubt, fear of failure and perfectionism. Or as self-criticism, low self-esteem, an inability to accept compliments or a focus on where you’re falling short” ― Dr. Jessamy Hibberd

“You might not feel this way all the time, but when you do, this pervasive self-doubt and insecurity creates a cloud over everything you do, a constant nagging feeling of stress and anxiety, which affects both your work and your relationships. This might push you to keep reaching for perfection, but as perfection doesn’t exist you rarely feel satisfied or content with your achievements or with who you are.” ― Dr. Jessamy Hibberd

“When you do well, which you almost always do, you tell yourself anyone could have done it. You were just in the right place at the right time. You might have managed it this time, but how long can it last?” ― Dr. Jessamy Hibberd

By most people’s standards you are considered successful, but you don’t see yourself this way. And that’s where the problem lies. There’s no issue with what you’re doing by anyone else’s standards. It’s how you view yourself that is the problem.” ― Dr. Jessamy Hibberd

The Impostor Phenomenon: Overcoming the Fear That Haunts Your Success – Book by Dr. Pauline Rose Clance

Book available on Amazon

“Impostors believe they are intellectual frauds who have attained success because they were at the right place at the right time, knew someone in power, or simply were hard workers — never because they were talented or intelligent or deserved their positions.” ― Dr. Pauline Rose Clance

“Most people who experience the Impostor Phenomenon would not put such a label on themselves, nor would they overtly say, “I feel like an impostor.” Yet when they hear or read about the components of the phenomenon, they immediately say, “How did you know exactly how I feel?” ― Dr. Pauline Rose Clance

“Do not confuse Impostors with others who may fail in one or more of those areas or people who fake their credentials, pretend to have received good objective praise, are fraudulent in their performances, or who know they’re bright and successful but shrug off compliments in an act of false modesty.” ― Dr. Pauline Rose Clance

“These people are painfully aware of any deficiencies that exist in their knowledge. They tend to see others’ strengths and abilities and to admire and overrate the intelligence or achievements of those around them, always comparing themselves to these people, always believing that in such comparisons they come up short.” ― Dr. Pauline Rose Clance

“Persons with IP feelings experience considerable self-doubt and worry excessively. They’re frightened that they cannot repeat their accomplishments. They remember all their difficult times more than their successes or the tasks they previously completed with ease.” ― Dr. Pauline Rose Clance

If this post sounds like you, there’s more to read in this article.

As a business coach I often find that imposter syndrome is what hinders motivation and visibility efforts for my clients. Sometimes it’s really not about finding the best strategy for marketing growth. It’s about finding the inner false beliefs that make you feel stuck.

Over the many years I have been an entrepreneur and have worked as a marketing consultant, I learned this the hard way. It’s why now visibility coaching is part of my business growth formula. If you can’t feel confident about who you are as a business leader, growth and marketing will never feel easy.

Want to learn more about imposter syndrome in entrepreneurs? Here’s what you can read: