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Why do most founders and entrepreneurs feel like frauds and suffer from impostor syndrome?

Why do most founders and entrepreneurs feel like frauds and suffer from impostor syndrome? The topics for these videos come from the things I discuss most often with founders. Once they have started to trust me, they almost always talk about how they feel like frauds who will soon be caught and exposed. Even the most talented and successful feel this way. That is when I tell my favorite anecdote from author Neil Gaiman.
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Just recognizing the existence, and near ubiquity, of impostor syndrome among founders can go a long way to reducing its impact. Thinking of Neil Armstrong’s self-doubt gets me through many crises of confidence.
Knowing that we tend to undervalue our true areas of expertise, try to take a hard and realistic look at your abilities. Recognize where you are strong, and hire or otherwise compensate for the areas where you are objectively weaker.
One path to recognizing our strengths is to start taking compliments seriously. If you regularly hear positive and specific statements about yourself or your work, believe them!
Many of us suffer needlessly with this problem because we think we are alone. Entrepreneurs are constantly selling and pitching, and one of their key products are themselves. We often try to create an image of the perfect confident leader and visionary. It would be healthier for all of us if we could, even just in private with each other, admit and share these feelings. It goes a long way to reducing the burden. The community of entrepreneurs is powerful. We need to leverage our networks for mutual support far more than we do.

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