Am I really a startup founder?
Building a startup is a really hard thing to do. Overcoming multiple challenges is part of any founder’s journey towards success. One of these challenges, especially for entrepreneurs that are just starting out on their first venture, is dealing with Imposter Syndrome.
For many, this feels like being a fraud — what you are doing as a startup founder is fake and not the real you. For example, if you work a regular job during the week, with the startup only being some kind of side gig. This feeling of “being an imposter” can become very strong when trying to convince other people about your startup, for instance potential partners, clients or suppliers — the feeling of being discovered as being an imposter can become a wall of sorts that stops you in your tracks or that prevents you from getting stuff done. For some, this even extends to friends and family or investors — not feeling like being a real startup founder can become a major obstacle in progressing and getting the business to grow. In this article we will be looking at what founders can do to tackle Imposter Syndrome if they have these feelings from time to time and how to overcome it ultimately. While it is mainly nascent entrepreneurs that tend to experience this syndrome, it can also be useful for other more experienced founders to look into it in order to recognize the symptoms of Imposter Syndrome early-on.
Imposter Founder?
In the world of startups, founders are likely to face many people that tell them “no” along the way or that simply don’t believe their startup will ever take off. This can be due to perceptions of their product, business model or the team itself. As a vc, we are often required to say no to many founders with very good ideas due to a lack of fit with our thesis. Nonetheless, being strong-willed and determined is a big requirement for success. Just because one vc says no, does not mean all other vc’s will say no. In fact, it does not mean all other investors (i.e. angels, incubators, accelerators etc.) will say no or that a no can’t become a yes later on. Luckily, not everyone you meet will tell you no. A handful of people that believe in you and your startup can be enough to give you the push needed to continue in the right direction.
There are multiple things that founders with Imposter Syndrome feel that may add to their feeling of being a fraud such as: working part-time as a founder, not having (much) staff, blurry roles/responsibilities, having a “wonky” product or rough prototype, having a lack of funds, not enough customers, working from home (i.e. no ‘real’ office) etc. Furthermore, some founders are also somewhat perfectionist, want to be super(wo)man, try to become an expert in an area or go about the entire journey as a solo founder. These approaches are not necessarily the best for a founder that has Imposter Syndrome. Building a team, relying on the expertise of others, delegating tasks and knowing when to take a break are essential aspects for a balanced work life. Becoming a workaholic to gain external validation at every step of the way whilst ignoring yourself as a founder is a red light that should be avoided by any nascent entrepreneur that’s just starting out. So how can founders overcome this syndrome?
Build Legitimacy
A good way to overcome the so-called Imposter Syndrome is to build legitimacy. But what is it? Legitimacy refers to actions you undertake to establish yourself and your startup as being the real deal, i.e. legitimate. In the context of entrepreneurship, it can be seen as social approval of the founder’s actions as being good and moral according to pre-established rules, norms and structures prevalent in society. Strategies that help founders gain legitimacy can help strengthen entrepreneurial identity development as suggested by research. Think of simple things such as assigning job titles for everyone, having a website, providing contracts to new team members or having a tangible track record that others can look into. A meeting with a potential client may result in being prompted to provide referrals, or a list of past clients — working on your client base could be considered as a strategy to build your legitimacy. In essence, you’d be “walking the talk” and doing what you say you do as a startup, which is to provide a solution to a market.
Read the Signs
Another important way to overcome Imposter Syndrome is to recognize the feeling of being an imposter as it emerges. Pay special attention to the time and place of this and reflect on your thoughts and behaviour — why did I feel like that at that particular time or why did I behave in that manner? Being aware that something might be amiss is already a big step. Talking about such feelings to others you trust is another way to better understand what might be happening and rethink things. Furthermore, being able to put a clear vision together is one of the best ways to overcome Imposter Syndrome. Where do you want to be, how do you see yourself or your startup in x amount of years? These are good questions to ask that help frame the path you’re walking more. Putting a vision together essentially visualizes the success you are seeking, making it easier to break that success into smaller parts (i.e. milestones).
Seek Support
If all else fails, do not shy away from seeking support from friends, family or advisors and investors that truly have your back. At N3F we work closely with founders at the early-stages of business ventures and understand that the team means everything. As such, having a confident leader that is focused, motivated and determined is essential for achieving success in the early-stages. It is key for pushing the startup further and turning it into a successful and sustainable business. This is why we believe in supporting founders to overcome such challenges by being their sparring partner.
A great listener at the right time can help ease concerns and lift a heavy weight off your shoulders.
We understand that as a startup founder, there are not many familiar signposts such as a job promotion or other sources of external validation that help you in determining the path forward and to keep you grounded. Founders tend to pave the way themselves through trial and error with the goal of establishing themselves and their startup. This often times does end up creating a heavy burden for the founder if she does not have a clear vision in mind. Founders are continuously tested, with every decision they make seeming to be detrimental to ‘keep the ship afloat’. Identifying the Imposter Syndrome and knowing how to deal with it can be critical for the success of startup founders. Building a startup is already a challenging endeavour on its own, and doing so with doubts in your mind will only add on to that challenge. So recognize the signs when you see them and aim to overcome the imposter feeling by working with others and taking things step by step. Startups are rarely built overnight, so take your time.
All images in this article were sourced from Unsplash unless otherwise stated. This is an excerpt of a medium article. To stay in touch and receive our blog updates, please follow us on twitter.