May 10th is National Small Business Day — don’t you love all of these national holidays?

I was working with a client and she asked me two questions: 

If I had more confidence, would I be making more money?

And, if I had more money, would I be more confident?

A lightbulb went off in my brain. Ahh, another chicken vs. egg dilemma. I answered a resounding YES to both of these questions. 

Where does confidence in business come from? 

Does confidence come from our work, relationships, or the number of dollars in our checking accounts? Or does it come from how many clients we have? Or, could it be when we stand in the mirror with our fists on our hips doing our best Wonder Woman or Superman pose?

As business owners (or, superheroes), we tend to be naturally confident people. We believe in ourselves, what we’re doing, and why we started our business in the first place. However, we can easily get tripped up when a client quits, a consult or presentation doesn’t go well, or we fall into the comparison trap. We start to second guess ourselves and do a replay of the “If only I did X” over and over in our minds. 

One of the main issues I see in my clients’ confidence (and even my own) is the comparison trap, especially on social media. You’re scrolling along and then you find other business owners in your field who appear to be killing it. A hundred thousand followers, thousands of comments and likes. You jump on one of their free workshops just to check them out. You show up live and your jaw hits the floor when you see how many people show up.

Thirty seconds into the free workshop and you’re starting to question what you’re doing wrong. You have more expertise, education, and experience in your field. You hold a degree from a great school and even have multiple letters behind your name. What gives? How’d they do it? 

Here’s a saying I love that always snaps my brain back and grounds me. Just like a rubber band snapping your wrist.

“YOU’LL NEVER BE GOOD ENOUGH FOR THE WRONG CLIENT.”

Can I get a hell yeah? This bears repeating… You’ll never (I repeat, NEVER) be good enough for the wrong client. Write this on a sticky note and keep it on your desk. Heck, write it on a dozen notes and plant them throughout your office or home as a regular reminder. 

Strengthening your confidence as a business owner is an ongoing process.

Here are five tips to get you on your way to building your confidence AND your money savvy:

1) Keep Your Stress under Control

You’ll hear this a lot from me. It’s crucial because it can and will sneak up on you out of the blue and on a regular basis. Establish a reliable stress reduction practice. You can only make good decisions when you breathe deeply and stay out of a scarcity mindset. 

Here’s what works for me. I usually start my day with a morning routine with a brain dump. Looking at my schedule, I add to my to-do’s for the day. Then, I crack open my journal and do some freewriting to let go of all the gunk in my brain. I don’t stop and edit — I merely let my pen and paper take over. I finish with a few notes about what I’m grateful for.

Now that the muck is out of my brain, I meditate. I love apps like Insight Timer and Aura. You can track your moods, progress, and take courses. I usually meditate for about 10-15 minutes. Meditating was challenging at first, so I started slow with just 3-5 minutes and worked my way up. For me, 10-15 minutes is my sweet spot. Start slow and stick with what you’re going to do consistently.

Then I usually take a walk outside and listen to a podcast or an audiobook. I like to listen to non-fiction personal growth books in the morning, then devour a fictional book at night. I’m reading so many good ones for entrepreneurs right now and am enjoying  The Power of One More: The Ultimate Guide to Happiness and Success by Ed Mylett and Greenlights by Matthew McConaughey. 

2) Learn from Failures and No’s

One of the best ways to build your confidence is to take risks. This doesn’t mean you should engage in anything reckless, but it does mean pushing yourself outside your comfort zone. Failure is a part of entrepreneurship, and it’s essential you learn from your mistakes. Every time you fail, you’re one step closer to success.

I have to admit; this one was hard for me to learn. Making mistakes is never fun and hearing “no” can wreck your confidence. Here’s the secret, the “no’s” aren’t personal. I truly believe in the saying, “Rejection is protection.” The universe, God, or your spiritual guides have your back. Once I started relaxing in that knowing, things began to flow again. 

3) Hire People with Skills You Don’t Have

Every business owner has distinct strengths and weaknesses. You need to focus on your strengths, delegate or outsource your weaknesses, and continue to develop your skills. This will help you build a well-rounded business and team that supports your vision. As your business grows, your confidence will grow along with it. 

I spent countless hours trying to figure things out on my own, like how to post on social media, find the right words to use in my website copy, and track all of my website analytics. In the book, Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork, author Dan Sullivan discusses finding people who can help you accelerate your business goals. 

Determined to find great business owners to help accelerate my growth, I found a kick-ass Virtual Assistant (VA) to help me with the tasks I don’t like or don’t know how to do. Working with a smart VA has enabled me to save time and focus on my zone of genius. I also work with an amazing copywriter and coach who has given me confidence in my writing that I never thought I could have! Check her out at The Intuitive Writing School.

4) Expand Your Own Money Story

Finding your badass money self is easier than you think. Don’t let your brain tell you you’re not smart enough or that it confirms you’re horrible in math. Okay, maybe math isn’t your thing. Trust me on this, it wasn’t mine, but if you read my story, you’ll see how my money journey started with being told that I wasn’t good at math nor smart enough to be in finance (read the story here). Insert all those internal thoughts of not being good enough! Well, my Taurus self didn’t listen, and 38 years later, I’m still here in the crazy world of finance.

The other key thing is not to let the number in your bank account(s) define you. Seriously, the beautiful thing about money is that it flows, and if you have a tight grasp on it, you cut off the flow. It’s similar to getting on the scale and seeing a number you don’t like. What are you making those numbers mean? If you see a “good” number, how does that feel? Just like your weight on the scale, your money will too fluctuate. Flow with it, don’t force, and know it can change for the better — often faster than you think. 

Building your money confidence is like anything else; it takes time. One of the first reads that I recommend to all my clients is The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel. There are many books out there with strategies and tactical advice around money, but if you don’t address the emotional why behind your money decisions, no financial plan or strategy will work. 

If you’re ready to dive into some tactical strategies that are personalized and right for you and your business, take a look at my Foundational program. In 30 days, you’ll get a step-by-step plan and finally free that “not good with money” story and become that confident, badass money person you always wanted to be. Get your Foundation in order.

5) Celebrate Your Successes

Lastly, I cannot emphasize this enough: Celebrating small wins significantly boosts your confidence. As an entrepreneur, you’re your biggest cheerleader. If you tend to set your eyes on the next goal even before reaching your current one — which, if you’re an entrepreneur, you probably do this — you’ll want to avoid this tendency. Take time out to pause and celebrate each milestone in your business. 

Set up a celebrate or win bank account and put 3-5% of what you make each month into it. Use this to do something fun to celebrate YOU and your business.

Building your entrepreneurial and money confidence is an ongoing journey. It takes time, effort, and a willingness to learn and grow. And it’s well worth the investment! When your confidence is unshakeable, you’ll have the rock-solid foundation you need to succeed in business and all areas of your life.