“Confidence comes not from always being right but from not fearing to be wrong.” — Philosopher, Peter McIntyre

While the concept of confidence is really quite complex, most people consider it to be an outward expression or appearance of knowing what you are worth. It is having the ability to show those around you that you understand and appreciate yourself and your talents, and know the value of what you have to offer. For an entrepreneur, this couldn’t be more important. Here are the top reasons why it is vitally important for every entrepreneur to be confident.

Confident Entrepreneurs = Confident Investors

Because entrepreneurship is largely about doing or being something that has never been done or been before, people who are on the outside looking in don’t want to throw their hat into the ring unless they have some assurances. While investing and working on a start-up company is always risky, it is much easier to get on board with someone who at least believes in themselves and their idea. If an investor has little history or financial data to base their decision on, they really have to go with their “gut feeling” about the offer. While confidence will not always get you the deal of a lifetime, it does genuinely help. In fact, many angel investors and investment clubs have often stated that they select confident entrepreneurs nearly 100 percent of the time. Why? Because if success leads to confidence, then the opposite is also true… confidence leads to success.

Confident Entrepreneurs = Confident Buyers

Once an entrepreneur has received their initial funding and the beginnings of a company is in place, they now have to find someone to buy what they are selling. Whether you are talking about pedaling cosmetics door to door, selling high tech computer components to government agencies, or promoting services as a life coach, having confidence in what you are offering is key. People are naturally opposed to change, and even something as simple as switching phone companies can cause deliberation. It is because of this that successful selling requires confidence. A successful entrepreneur has to believe… and be confident enough in that belief to convince others… that their company is the best choice. That what they are offering is worth the time and money required to make the switch. Entrepreneurs who can accomplish this on a large scale are those who get where they want to be.

Confident Entrepreneurs = Confident Employees

A third area of great importance for any successful entrepreneur is in the other people who represent them and their company. From the lowest paid worker to the highest VP, the caliber of employees that a company has really says a lot about their culture and the odds of their future successes. When people have a leader who is confident in their abilities and in the work that is being done, it is only natural for each employee to begin to develop confidence of their own. Something as simple as acknowledging past victories and showing expectation in conceptual future successes can make the difference between a hum drum employee and one who literally talks up his company everywhere he goes. Just as “shit runs downhill,” so does confidence. Confident entrepreneurs have the opportunity to be the primary source and example for their employees.

Confident Entrepreneurs = Confident Innovations

A final area that is talked about so much in the entrepreneur universe is innovation. Everyone is looking for and striving towards the proverbial “think outside the box” vision for their company. But, in reality, this can only come from a place of confidence within an organization. Most people have some level of creativity, originality, and untapped intelligence inside of them, but are often too afraid of their idea being rejected to run with it. So, what’s the best way to draw out these hidden initiatives? Be confident, as an entrepreneur, in your company’s direction as an innovator. When it is clearly evident that you are a confident promoter of new ideas and an advocate for inventive improvement, people will be much more likely to come to you with their concepts and brilliance. After all, who better to share a dream with than another dreamer?

Just like most other traits, confidence can be developed and increased over time. It all starts with identifying where you are strongest and taking the time to appreciate those areas of yourself. Once you have come to a place where you can confidently recognize and trust your own abilities, decisions, and insights, it is simply a matter of time before this inner confidence builds to a place that others around you see it as well. When this happens, be ready… because confident entrepreneurs = successful entrepreneurs!