Do these thoughts run through your mind? Even a little bit of the time?
“I’m not good enough.”
“They’re going to find me out.”
“I should really be better at…”
“I’m not enough of an expert…”
You’re not alone.
In a 2016 interview, actor Tom Hanks said this about his career:
“No matter what we’ve done, there comes a point where you think, ‘How did I get here? When are they going to discover that I am, in fact, a fraud and take everything away from me?”
Hanks was telling his interviewer that he has constant Imposter Syndrome—a collection of feelings of inadequacy that persist even in the face of information that indicates that the opposite is true. It is the feeling that you are not really competent; that you are only posing as someone who is competent.
Those feelings often hit advisors at the worst time—like when they are introduced to a wealthy client or are presenting a high premium policy.
There’s nothing wrong with occasionally feeling like a “fake, phony, fraud” unless how you deal with it hurts your business.
Here are 4 signs of imposter syndrome, how they may be hurting your business and what to do about it:
1. Beating yourself up for ‘failures’—like not being able to close on a piece of business or getting a NO response, or missing an opportunity.
How this hurts your business:
Whenever you get nervous about things not working, it usually results in a flurry of activities, but not activities that will be better for your business in the long run.
What to do about it:
Ask yourself, is there actually something I need to learn to do better, do more of, or do faster? If there is, learn it and do it. If not, do the things you need to do, despite the feeling. It will go away with your next success.
2. You question your competence, your message, and whether you should even be doing this.
How this hurts your business:
It’s difficult to market and sell confidently when you’re questioning the elements of your business. Your confidence is your #1 business-building tool. It’s more important than your marketing process or sales system. When you’re lacking confidence, everything comes out weaker and less effective.
What to do about it:
Keep a file of success stories and expressions of gratitude from clients. When you’re questioning your value, open it and read some of them. This will help you get away from that feeling that you’re an imposter and back to doing the work you need to do.
3. Your imposter feelings make you too quick to avoid talking about something your client needs to pay for or to back off a recommendation.
How this hurts your business:
You’ll sabotage making the money you want and deserve. You’ll be violating your standards—fees you’ve set in a confident moment, etc.
What to do about it:
Let the prospects or clients decide for themselves. If you believe you know what they need but they might not take your advice and commit to it, don’t let your imposter syndrome have you make that decision for them.
4. Because you feel like an imposter, you don’t fully commit. You don’t make bold moves because you doubt whether you can succeed—or deserve to.
How this hurts your business:
You don’t go ‘all in’ because there is a part of you that feels it’s safer to hold back (so they won’t see that you’re a fake). So, you don’t invest in the help, technology, or infrastructure you need or in becoming the person you need to become.
What to do about it:
Work with a business coach who will supportively push you to make the moves you need to make. Become part of a community that will support you in your commitments. And whatever you do, don’t do it alone. Building a financial or insurance business is not a DIY activity.
If you saw yourself in ANY of these descriptions, it’s time to do something different. Contact me to schedule a ‘Breakthrough Call’ with me to see how to turn YOUR Imposter Syndrome around.
And always keep REACHING…
