How Imposter Syndrome Affects Self-Employed Women

Feeling like a fraud? Constantly worried you just aren’t good enough??Hands clammy at the thought of being exposed as a fake or a phoney by your clients? ?

Eek.?

You might be experiencing the dreaded imposter syndrome…?

And you’re not alone. A 2019 survey found that over two-thirds of women have struggled with imposter syndrome (IS), and over half of men (56%).?

What is imposter syndrome???

First identified in 1978 by psychologists Pauline Clance and Suzanne Imes, imposter syndrome is loosely defined as ‘the persistent inability to believe that one's success is deserved or has been legitimately achieved as a result of one's own efforts or skills.’?

It’s a real piece of work too! The NatWest Own Your Imposter campaign found that:?

• 28% of working women say imposter syndrome has stopped them speaking in a meeting?
• 21% have held off suggesting a new or alternative idea at work?
• 26% have failed to change career or role?

… and if you’re an entrepreneurial woman, the chances are that our malevolent friend IS, might affect you even more…?

Nearly two thirds of women have considered starting their own business but haven’t due to feelings commonly associated with imposter syndrome. This may be just one of many factors to explain why only a fifth of UK businesses are run by women.?

How does imposter syndrome hold back female entrepreneurs???

Imposter syndrome can force us to play it small, keep us in our box, for fear that we will fall flat on our face.??

As a business owner, the buck stops with you, and that can feel like a hell of a lot of pressure if you're constantly doubting your ability.?

For those women who do take the bold step and start up on their own, they do not scale to the same level as their male counterparts.??

Only 10% of women-owned businesses ever grow above 2 employees and ￡100,000 annual revenue.?

There is a massive gap in lost revenue for the UK economy and this is reflective of not only the restraints of imposter syndrome, but myriad other gender factors that make it harder to thrive as a female business owner.??

Imposter syndrome can stop us charging what we’re worth.?

Self-employed women are charging 43% less per day for their services. Historically, this gap has been attributed to an undervaluing of female competencies on the part of the client, but more recently, a different issue has come to light – the struggle for women to set a day rate.?

Women aren’t confident in charging their full value. This is having a massive impact on their savings pot too, meaning they’re less likely to have a comfortable pot at retirement age.??

Imposter syndrome can fill women with doubt about what they can viably charge.?

On top of this, imposter syndrome can prevent women from applying for financial support for their business. The NatWest research also found that 44% of women said imposter syndrome had held them back from applying for funding. This can have a huge long-term impact on the financial health of a business.??

Imposter syndrome can make you doubt your expertise.?

As a consultant, you need to be the expert in the room. You need credentials, experience and the ability to communicate this knowledge to clients.?

What that doesn't mean is that you have to know absolutely everything under the sun! It doesn't mean there won’t always be things to learn. It is your level of experience and expertise compared to others in the room – and most importantly, that of your clients, that matters. ?

If you know more than the average person in that room, you are indeed the expert!?

A rather telling statistic from Hewlett Packard revealed that men apply for a job when they meet only 60% of the qualifications, but women apply only if they meet 100% of them.?

Imposter syndrome fuels the fear that we are not good enough, not expert enough –?but this isn’t real. As consultants, it is vital you remember that.?

Imposter syndrome feeds on the loneliness of self-employment.?

You’re out of your comfort zone – and you've got no colleagues to tell you it’s ok. You’re scared of failing!??

Remote working can be a very lonely experience – in fact loneliness and isolation are a greater concern for self-employed women, with a quarter (25%) of them saying they felt lonely as a result of working remotely in comparison with 16 per cent of men.?

You can get in your own head, questioning everything, forced into procrastination for fear of making the wrong decision. Any forward momentum halts!?

So what can you do to challenge imposter syndrome??

Unfortunately, there isn’t a magic wand that will wave away these feelings. It’s not something you can totally get rid of, but you can work out ways to re-frame it and challenge it.?

Build your network: Make sure you have like-minded entrepreneurs to vent to, to pour your deepest fears out to, and who can help you work through what’s fact and what’s imposter syndrome running riot.?

It’s likely that they will share their own fears with you too, and it will help to know you’re not the only one going through it! Because – YOU ARE NOT!?

Work with a mentor or coach: Sometimes, a totally objective professional will be exactly what you need to separate the fact from the fiction. It can help to see people who are like you, and who you might feel are a few steps on from where you are – to know that it can be done!??

Recognise it for what it is: Call your imposter syndrome out. Recognise that just because you have thought it, it doesn’t make it true. Once you understand that imposter syndrome is actually more common in high achievers who are seeking perfection, you can start to learn when it’s happening and not let it spiral.??

Training: If you genuinely feel like there’s a skill gap, take some training! It’s a great way to expand that network as we touched on above, and a way to ensure your business and personal development is kept up to date. It can also help to adjust your mindset in the long term.?

If you’d like to take back control over your negative self-talk, then it’s well worth a look at my UNSTOPPABLE YOU eight-week course! I offer a scientifically proven well-being model to help you live a more confident, self-assured and fulfilled life.??

The discipline of positive psychology was developed to teach awareness of your thoughts, and ways to control what you focus on. It will help you pop a lid on that imposter syndrome chatter, so you can free your mind up to drive that business forward.??