Self-confidence: Why it's an advantage in small business
Self-confidence for women who own or operate a small business is essential. Every day brings new challenges and without self-confidence you and your business could suffer.
Some women do really well in small business and others don't. Two women with the equivalent skills and qualifications may have quite different results. The first woman's business may do well, while the other one may fail. What makes the difference? Self-confidence is one of the keys.
Here are 7 advantages self-confidence could bring to your small business.
1. Self-confidence makes it easier to enthuse clients, customers and staff.
They will have greater faith and trust in someone who displays self-confidence and confidence in the products and services on offer than they will in someone timid, uncertain or apologetic. People will pick up on your self-confidence and indirectly gain confidence in you and your business.
2. Self-confidence helps you with promotion and marketing.
Self-confidence can give you the edge when you need to cold call, develop partnerships with other businesses, answer enquiries, or put an advert or flyer together. If you lack confidence you may hold back on meeting people, contacting people, or responding to people. Thus you may limit the potential of your business to be promoted in the best way possible.
3. Self-confidence is an asset when you network.
A small business relies on word-of-mouth marketing and this can often be built through networks and networking. It is much easier to network, introduce yourself to strangers or engage potential customers in conversation if you have self-confidence.
Gain greater self-confidence when networking by watching Rachel's DVD on "Business networking: The skills you need".
Other ways self-confidence can boost your small business.
4. It is easier to take the initiative when you have confidence.
Running a business requires initiative. It is easier to take the initiative when you have confidence in yourself and your abilities than when you don't. Self-confidence can help you be more creative too. It is hard to be creative when you are worried, negative or tense.
5. Self-confidence makes everyday operations easier to manage.
Self-confidence makes it easier to handle all the everyday operations, including cash-flow issues, supplier negotiations and taxation requirements. The easier these kinds of tasks are the less stress you will have in running your business. It is also more likely that you will be able to meet all the administrative requirements and red tape that is foisted on small businesses with a minimum of fuss. There will still be fuss - the taxation office and the government make sure of that - but it will trouble you less if you are confident in dealing with authority, officialdom and legalese.
Rachel runs live webinars to build small business confidence. Click here to find out about: Ten things I've learnt about being successful in small business.
6. Self-confidence helps in handling difficult customers or clients.
Every small business has its fair share of difficult or negative customers to handle. Self-confidence can make the difference between handling a customer easily and getting frustrated with them. Staying cool, calm and collected, with confidence, can help you leave a positive, lasting impression. You may even be able to turn an unhappy customer around. This can require a lot of self-confidence but it can feel wonderful when you succeed.
For example, I once had a customer phone up to complain about something in my business. She spoke at length when I answered the phone. As I listened to her I did not get upset or defensive but simply stayed with her story. However at the end, instead of actually dealing with her specific complaint I decided to thank her for having the courage to phone me. She was really pleased when I acknowledged this, and told me it had taken a lot of courage and she'd been rehearsing what to say for three days. We ended up talking about this instead of the complaint. She was delighted and we finished the call. I never had to sort out the complaint!
This is the value of self-confidence. I did not need to argue with her, justify myself, or the business, nor get defensive or upset. I had the confidence to listen, to trust my instincts and to mention what I noticed. I was on a high for the rest of the day and we ended up with a happy customer.
7. Set-backs are easier to handle with self-confidence.
Self-confidence makes it easier to deal with and rise above set-backs, so that you and your business do not go under if there is a down turn. Some days you simply have to "hold the faith" that everything will turn out okay. It is much easier to do this when you are confident than when you are anxious or fretful.
Please don't confuse self-confidence with becoming cocky or complacent, however, as these will not help your business get through troubled times.
Complacent can mean that you fail to see new opportunities, whereas self-confidence can help you to stay open to them. Once you become anxious or lack confidence you may be too scared to accept new ideas and tighten against new opportunities for fear of their going wrong.
Being cocky can mean that you believe everything will be all right and you don't need to do anything about your current situation.
Having self-confidence means you ask for help when you need it.
Make sure you have the self-confidence you need so you don't hold back your profitability and growth and you can deal with everything that arises. Don't leave your business to chance, leave it in the hands of someone with self-confidence, you!
Rachel Green: Motivational Speaker | Small Business Owner | Coach | Author.
Rachel has run a small/micro business for over 20 years and has survived many economic ups and downs, whilst other businesses around her have come and gone.
She is the author of several CDs including "Confidence for women at work" and the DVD "Business networking: The skills you need".
She also runs live webinars for small business owners to build small business confidence. Click here to find out more about: Ten things I've learnt about being successful in small business.
Copyright Confident Woman Australia, 2010.
NB: This article is not provided as an alternative to obtaining professional advice from an appropriately qualified business advisor.
Rachel Green
Reader Comments (6)
John Ingleson - PrimerGroup Pty Ltd, NSW
We provide funding for new businesses which are growing.
It's the belief / confidence that you have in your own ability to succeed that sets you apart from others, who would love to start their own business but aren't game.
I think an area that would be interesting would be on how to achieve this confidence in yourself so that you can step away from the RAT race and DO your own thing.
When I started out in carpet cleaning 24 years ago I had been give less than two hours instruction on how to do it. There were no courses available and it was all about learning 'How to' on the job. Now I encourage people to enter this industry and I help to show them enough to get them started and guide them on to the right path to success.
It is all about belief in oneself and having the confidence to do it.
To me confidence is about believing in oneself.
Patrick Burgess AIMM. ICF.
You don't need eyes to see, you need vision.
So if i give enough to the people that surround me, and try nurture them as I would myself then I am actually feeding on really good energy that inspires motivation, drive and self-confidence... It gives me a purpose in a sense.
Mick.
Sometimes also confidence increases once we get business success. The beginning can be quite anxious.
I also think that each day we can be faced with things we have never done before and so each day we need to learn and keep expanding our confidence. That's how it is for me anyway!
Rachel.
William