Self Esteem Vs. Self Confidence And Their Roles In Business

Self esteem and self confidence are not the same thing and therefore, hold different value. We develop self esteem when others tell us how wonderful, attractive, and smart we are. Though self esteem is a good thing to have, it is no substitute for self confidence, which is developed through self-improvement and overcoming obstacles.

People who are confident in themselves know that they are talented and smart because they have proven it to themselves. We tend to place higher value on self confidence because it is something we earned rather than something another person provided to us. Boosts to self esteem can help to reinforce self confidence. On the other hand, someone who is self confident is less likely to internalize external observations that are detrimental to self esteem.

Both self esteem and self confidence play a role in business. No one should embark on a business venture without a decent level of self confidence. If customers complain or other things erode self esteem, the entrepreneur will have the self confidence to persevere. Entrepreneurs with low levels of self confidence are much more likely to throw in the towel.

Self confident business owners who endure the tough times will eventually increase their self esteem when customers once again provide glowing testimonials. The importance of the level of self confidence should not be underestimated. It can mean the difference between earning minimum wage and developing a business that generates a six figure income.

It takes much less to destroy self esteem than it does to erode self confidence. However, self confidence is typically much more difficult to rebuild. It can take years for people to develop the self confidence they had before entering an abusive relationship. Getting self confidence to an acceptable level before undertaking a business venture contributes to a successful outcome.