This article originally appeared in the Sept/Oct issue of Startups Magazine. Click here to subscribe

By Luna Williams, Founder of Luxury Collective Surrey and the Thrive Club

Despite their skills, accomplishments, and undeniable potential, imposter syndrome often creeps in, hindering progress and self-belief. In this article, we will explore the impact of imposter syndrome on female entrepreneurs and provide empowering strategies to overcome

it. Let's celebrate the remarkable achievements of female founders and help them embrace their skills with confidence!

Imposter syndrome is not exclusive to any gender, but it disproportionately affects women. According to a 2023 survey by KPMG, 75% of female executives have experienced imposter syndrome in their careers. “Women expect lower pay than men, are subject to condescension in the workplace and have less faith they will be treated equally. These compounded issues result in lowered confidence among working women — even high-achievers,” KPMG found.

This coupled with the hidden load of household work, where women perform more cognitive and emotional labour than men, can lead to self-doubt and a persistent fear of being exposed as 'not good enough.'

As entrepreneurs, we can set our own rules of engagement and are not subject to workplace bias or gender-pay gaps. However, self-doubt and lack of confidence can hinder success and growth.

Through understanding the roots of imposter syndrome and implementing effective strategies, we can overcome this psychological barrier and unleash our full potential. Imposter syndrome can manifest in various ways, including downplaying achievements, attributing success to luck or external factors, and fearing being perceived as incompetent.

Imposter syndrome can also have profound effects both professionally and personally. It can create a constant battle with self-esteem and confidence, leading to feelings of isolation and self-sabotage. It can negatively impact business growth, as female founders may be less likely to seek funding, pitch ideas confidently or negotiate deals, which are critical to entrepreneurial success.

Thankfully, research from Mentessa shows that Imposter Syndrome isn’t necessarily all bad. They have discovered three surprising benefits of imposter syndrome:

• Increases empathy and makes for better relationships
• Improves diligence, and performance as a result
• Strengthens resilience and mental health

So given this, let’s reframe and take action. Let’s see if there is a way to make peace with self-doubt, see it as a reflection of how much you care – and not your ability.

Tony Robbins, the American life and business strategist says: “There are often specific situations or interactions that will trigger feelings of impostor syndrome. To unlock how to deal with impostor syndrome, you must identify exactly what it is you’re afraid of. The next time you feel like an impostor, reflect on the circumstances that led up to the feeling and the self-talk you’re using once the feeling has started. You’ll likely see patterns.

There are things we can do to combat these feelings of inadequacy.

Breaking the silence

One way to combat imposter syndrome is through opening up about it. Female entrepreneurs should create supportive networks where they can share their experiences and vulnerabilities. By realising that they are not alone in their struggles, they can gain valuable insights, encouragement, and a sense of belonging. A study by Aston University found that sharing stories of overcoming imposter syndrome could inspire others and foster a more supportive entrepreneurial community.

Celebrating achievements

Let your achievements speak for themselves. Women often find it challenging to acknowledge and celebrate their accomplishments genuinely. Fostering a culture of celebration is vital to counter imposter syndrome. According to research by the University of Kent, recognising achievements, both big and small, can boost confidence and reinforce the belief in one's abilities. Encouraging a positive mindset that embraces self-praise allows women to appreciate their journey and the progress they have made.

Building a solid support system

Having a strong support system is crucial for female founders to overcome imposter syndrome. Surrounding oneself with mentors, coaches, and like-minded individuals who genuinely believe in their potential can provide the necessary encouragement and guidance. A study conducted by the University of Huddersfield found that women who had access to supportive networks reported higher levels of self-confidence and a greater ability to combat imposter syndrome.

Emphasising skill development

Imposter syndrome often arises from a fear of inadequacy or lack of knowledge. By investing in continuous learning and skill development, women can boost their confidence and combat the feeling of being an imposter. Attending workshops, conferences, and enrolling in relevant

courses can expand their knowledge base, enhance their skills, and reaffirm their expertise. The government's website emphasises the importance of skill development in combating imposter syndrome.

Practicing self-compassion

Rather than dwelling on perceived failures or mistakes, women should learn to acknowledge their humanity and understand that setbacks are an inherent part of the entrepreneurial journey. As Brené Brown says in her famous vulnerability TED Talk: “Vulnerability is the birthplace of innovation, creativity, and change.

Embracing failures as a stepping stone, the growth mindset

Failure is an inevitable part of any entrepreneurial journey. Entrepreneurial women must be able to reframe their perspective on failure, viewing it not as a reflection of their abilities but as valuable lessons and steppingstones to success. A study published in the Journal of Business Venturing found that those who embraced failure as a learning opportunity were more likely to overcome imposter syndrome and develop a growth mindset. The namesake book by Carol Dweck is an excellent source for anyone wanting to expand their growth mindset.

Finding inspiration in role models

Finding inspiration in successful women who have overcome imposter syndrome. By studying the journeys of accomplished individuals, we can gain valuable insights and realise that imposter syndrome is a common experience. These role models serve as reminders that success is attainable and that embracing one's skills and achievements is crucial for personal and professional growth.

Imposter syndrome can be a significant hurdle for women, but it is not insurmountable. By understanding its impact, breaking the silence, celebrating achievements, building a support system, emphasising skill development, practicing self-compassion, embracing failure, and finding inspiration in role models, female entrepreneurs can overcome imposter syndrome and embrace their skills and achievements with confidence. Let us empower each other, celebrate our successes, and create a thriving entrepreneurial community where imposter syndrome has no place.

We can all do well to remember these immortal words from possibly the only woman without a shred of imposter syndrome:

“It is with passion, courage of conviction, and strong sense of self that we take our next steps into the world, remembering that first impressions are not always correct. You must always have faith in people. And most importantly, you must always have faith in yourself.” – Elle Woods