Have you ever felt this way about the work you do or want to do as an entrepreneur?
Here’s a confession: I can relate. I’ve felt like a fraud many times while starting my own business. But thankfully, with a few shifts in my mindset, it’s been possible to get over it!
For those of you who may feel like a fraud right now, chances are that feeling comes from 1 of the 6 mindsets listed below. But there is good news. There are many ways to beat that “total fraud” rap, do good work, and really be a Boss in your business. I share some solutions below, including my favorites, #5 and #6.
Total Fraud Mindset #1 – You’re faking it until you make it. Simply put: you feel like you’re over-hustling and under-earning. Meaning… you’re doing lots of work, but you’re not making the money just yet. You may even feel like you’re not living up to your brand or the person everyone expects you to be. You’re stressed because you don’t have enough clientele. You don’t have enough money. You don’t have a website. You don’t have a brand. No one knows who you are or that you even have a business in the first place! STOP… take a breather.
Solution: Own your hustle! Success doesn’t happen overnight, and those who constantly ask how you’re doing in your business or if you’ve made money yet (especially when you’re only 3 months out) most likely have an unrealistic view of entrepreneurship and the hard work that goes into it. Be persistent in your business, especially if you’ve proven your concept. The money will come when you work from truth, consistency, giving… and hustle.
Total Fraud Mindset #2 – You’re not being true to yourself. Okay, so you’re making the money but the work just doesn’t feel right. You started a business with the notion that if you just keep at it, the money will be enough to make you happy. But in the meantime, you’re hating the work. What felt like a glimpse of freedom from the daily grind, in reality comes down to shackles in your own grind.
Solution: Take inventory of your passions and what gets you out of bed in the morning. What’s the one thing that you truly love doing? Don’t forget to consider your love of all of your self-care activities as well. It’s never too late to pursue making your passions a part of your daily routine. Even better if you can figure out a way to earn money doing just that.
If you’re interested in learning how to start a business from your own passions and from doing activities you love, join me here.
Total Fraud Mindset #3 – You’re not working with your ideal clientele. Who you’re working with now may not even be who you had in mind when you started. Even more frustrating, if you’re just starting out, it may be taking you a bit longer than expected to even get that first person to buy. And you know you could use and handle many more people, but it’s just taking forever to get there.
Solution: Something to consider… Are you really selling to the right people? Before moving any further in your business, take stock of your clientele. Are they ideal for you and what you’re providing? Do you solve their problems? Is there even a problem to being with? Truth is, if there isn’t a need for what you have to offer, no one will buy, no matter how great of a sales pitch you have.
Also, if you’re established in your business and you’re still not getting your clientele to buy, ask them a simple question (by survey, email, phone call, etc.): “What can I offer you that will move you forward in your goals?” You may discover that a simple adjustment of your offerings may have new clientele coming to you and get your current clientele excited again.
Total Fraud Mindset #4 – Your only customers are your friends and family. Believe it or not, every success story started at the beginning, at zero. So, of course friends and family may be your starting point. And when they’re your only audience and purchasing from you to support you, you may start to doubt your ability to do your work and if you’re really making a true impact in any way.
Solution: Get out of your comfort zone. Make connections with others through networking events, social media and through referrals. Then ask all those new connections if you can add them to your email list. It’s even better if you’re providing helpful and consistent content on your website or blog that you can send to them as soon as you hit “post”!
Every success story starts at the beginning, at zero.
Total Fraud Mindset #5 – You’re selling someone else’s products or services. Now, I must admit. This was HUGE for me. Others can own it well and make it work for them; I couldn’t.
Years ago, I started my own business selling someone else’s products as an independent consultant. And although money making opportunities were there, and I did okay compared to my team members at the time, I didn’t feel like I was running my own business. In fact, I felt more like a member of the sales team.
I felt like a member of the sales team for this company, not an owner of my own business.
I was selling something I didn’t create, and I was selling something I never would have created. I thought the product was great, but I didn’t really get that excited about it because it was something that I never would have used prior to becoming an independent consultant. In fact, I began to resent using the product every day after a while because I saw it as a hassle for my lifestyle.
However, I did love the community! I got excited about the friendships that I had instantly formed by joining the company, and I literally felt like I had tons of new friends from day one. The support from everyone was also a great experience as you moved up the ranks. But, if I was being true to myself, starting my own business would have looked very differently back then; it would have involved something that I created on my own. At the time, I just didn’t know how… or that there was even a possibility!
Another pain point with this model: There is often a requirement to pay membership fees or selling minimums to keep you “owning” your own business. Granted, in order to be sustainable, every business should have some type of revenue (and profit). However, if what you bring in decides whether or not you’re a part of the club, sometimes you may get left out… and that can’t be good for morale.
Solution: If you love the products or services that you’re selling, proclaim it and keep aspiring. However, if you have a burning desire to do something more in line with your current love, pursue that! And the good news is, you don’t have to choose. You can do both.
Total Fraud Mindset #6 – You’re rewarded based on someone else’s benchmarks: That includes cars, trips, tokens, pins, praise, and recognition. For my independent consultant business, rewards came through selling more products and gaining more team members. It was often challenging to find recognition or praise when I only sold a few more products than the usual for me. I was constantly focused on reaching someone else’s benchmark. And to be honest, sometimes this wrecked my self-esteem. It made me feel bad about my abilities and doubt whether I could succeed. All based on comparing my progress to others and trying to excel at a faster rate.
Truth: you may feel the same way. In order to win that car, trip, pins, or public praise, you have to reach a benchmark that you don’t set for yourself. You may even feel bad or stressed even if surpassing your own expectations was a milestone for you. Because, even though you may do well on your own terms, your progress may be minimized because it’s still not good enough for the company you’re a part of.
Solution: Start a business where you set your own benchmarks for praise and recognition. Celebrate when you reach those milestones, no matter how small. Reward yourself with a trip when you want! Reward yourself with that car when you’re ready! Not when someone else says it’s okay.
Are you interested in having your own reward system? Join me here.
So what about you? Are there ways that you’ve felt like a fraud in your own business and ways that you got out of that mindset? Please feel free to share below.
