There’s always a more nuanced story behind every prize-winning product launch, successful startup pitch, or “overnight” success business, namely a narrative of self-doubt, comparison, and the constant fear of being found out as an imposter. This psychological effect, commonly known as impostor syndrome, afflicts a whopping number of entrepreneurs, even the most successful, and no matter where they are in business.
What is Imposter Syndrome?
Imposter syndrome was first named in 1978 by Pauline Clance and Suzanne Imes, psychologists who defined it as an insidious sense of not feeling competent despite generating evidence of competence. Those with the condition typically credit their success to luck, timing, or other factors, not ability, effort, or intelligence.
While impostor syndrome affects all careers, entrepreneurs are particularly vulnerable. Why? Being an entrepreneur means venturing into the unknown, assuming huge risks, and pretending to be in charge—all while dealing with uncertainty, isolation, and massive pressure for success.
How Imposter Syndrome Plays Out for Entrepreneurs
Entrepreneurs who experience imposter syndrome may:
- Downplay their success or attribute achievement to luck or circumstance.
- Feel anxious about being “found out” as not being as competent as others think.
- Overprepare or always look for validation to feel worthy.
- Miss opportunities they don’t feel qualified for.
- Create unrealistic expectations and then be devastated when they’re not fulfilled.
This mentality can become a huge obstacle, not emotionally, but operationally. Entrepreneurs might wait too long to pitch for funding, underestimate their service, micromanage rather than delegate, or shy away from scaling in fear they’re not ready or good enough.
Root Causes of Imposter Syndrome in Entrepreneurs
Several causes are responsible for these feelings among business owners:
- Perfectionism: Setting yourself to unrealistically high expectations means that any error is a feeling of failure.
- Comparison: Social media merely posts success, creating the illusion of what “normal” progress is, which isn’t representative.
- Lack of representation: Women, minorities, or first-generation entrepreneurs might not look up to individuals like themselves as leaders, which makes it harder to accept success.
- High stakes: Entrepreneurs might invest personal money, time, and self-image into their business. Pressure to succeed can escalate self-doubt.
How to Deal with Imposter Syndrome
While imposter syndrome may never fully disappear, it can be managed with intent, commitment, and support. Listed below are methods entrepreneurs can utilize:
1. Name It and Normalize It
The very first step is to acknowledge that what you perceive exists by name—and you’re not alone. Talking about imposter syndrome with colleagues, mentors, or a coach may dilute its power. It’s normal, not a reflection of an individual’s fault.
2. Record Your Successes
Keep a “confidence file” or “win journal” where you record compliments, accomplishments, and successes. When your inner critic rears its ugly head, a file like this can remind you how much you’ve come along and what you can actually accomplish.
3. Redefine Your Inner Critic
Instead of trying to silence the negative thoughts, disprove them. When you think, “I’m not ready for this pitch,” recast it as, “I don’t have it all together, but I’m ready and capable of learning as I go.”
4. Define Success and Failure
Entrepreneurship is experimental by nature. Not all ideas will pan out, yet that doesn’t equate to failure. Repurpose failure as feedback and a natural part of growth. Similarly, give yourself permission to define success on your own terms, not someone else’s timeline or benchmarks.
5. Create a Support System
Surround yourself with people who are going to believe in you and your vision. Peer mastermind groups, accountability partners, or business communities can offer insight, inspiration, and honest feedback when you need it the most.
6. Mentor or Be Mentored
Having a mentor can provide advice and validation. Equally, mentoring others can illustrate how much you do know—and remind you of your own knowledge base.
7. Invest in Your Development
Taking courses, reading books, or being coached doesn’t make you not good enough—it makes you committed to growing. Confidence will often follow competence.
Final Thoughts: You’re Not an Imposter—You’re Human
Entrepreneurship is messy, uncertain, and full of unknowns. Moments of self-doubt don’t make you an imposter—it makes you human. What defines successful entrepreneurs is not their lack of fear or insecurity, but the courage to keep showing up anyway.
By acknowledging imposter syndrome and doing what is necessary to rise above its hold, entrepreneurs can break free from fear-based decision-making and take bold action, and build businesses that reflect not just what they do, but who they truly are.