Why Confidence is Vital in Entrepreneurship

Coming across a young entrepreneur with a very outstanding and sellable product who has low self-esteem has really opened my eyes to one of the setbacks business people encounter. Confidence is vital for business success; entrepreneurs should build confidence and conviction by totally believing in themselves and the products/services they are offering.

As stated by a philosopher named Peter T. Mcintyre, “confidence comes not from always being right but not fearing to be wrong”.  With success, growth and fulfillment as the goals of everyone setting for business, it is therefore sacrosanct to understand how confidence influence the rate and pace at which these goals can be achieved. Areas in business where confidence is highly required are:

  • Starting Out

When entrepreneurs decide to engage in business activities, they are confronted with so many challenges ranging from risking fund, comfort zone and facing uncertainty. Total confidence plus courage is required when you want to start a business and execute winning ideas.

  • Selling and Marketing

The absence of confidence results in fear and self doubt to the point where an entrepreneur will begin to doubt his business and its offering even before getting to the market. Entrepreneurs need to be bold in order to confront their market and make positive modifications in line with feedback and opinions.

  • Growth and Expansion

The decision for growth and expansion is strategic and require promptness and accuracy. Business hardly accommodates dilly dallying at whatever stage as competition can easily put someone else ahead of you.

  • Negotiation

Most deals, acquisitions and partnerships depend on confidence and better negotiation skills. Facebook acquired Whatsapp for jaw-dropping $19bn amount in 2014 and this result can be attributed mostly to the negotiation skills of the guys from the side of Whatsapp.

 

This article was written by Sule Muhammed Lawwal; he can be reached via smuhammedlawwal@gmail.com

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