I had several conversations with entrepreneurs this week who were struggling with a specific issue that had plagued them for a while. In each case these are strong, capable entrepreneurs who I’ve known for a long time. As with all entrepreneurs (and humans), they have strengths, weaknesses, and blind spots. In each case, I felt like self-doubt had crept into their brains around the specific weakness they were struggling with.
On the way to the airport, I had call with another entrepreneur that I work with. Same tenor – something that he’s struggled with for a while was causing him to lose confidence. We talked most of the way to the airport and by the end of the conversation, it was clear that, while this is an issue that has been a struggle for a while, it’s one that this person has actually done a good job on, but just has never crushed it. The frustration – over a period of time – started to morph into self doubt.
When I realized this, I gave him some specific suggestions, using the frame of reference of “inquiry.” This is how I deal with my own self doubt. Whenever I find myself struggling with something that I think is important, I go on an inquiry to learn as much as I can about the issue, figure out what I’m struggling with, figure out a solution that works for me, and then implement it. I’ve done this numerous times in my life – sometimes the inquiries are short (24 hours); other times they last a decade or more.
When I thought about what might be generating this self doubt in otherwise successful, smart, and intellectually / emotionally strong people, I realized that the context that we are in is often a driver. Suddenly lots of companies are having what appears to be success and rapid growth. If you are an entrepreneur and you are not running one of these, even if you are experienced and successful, it’s easily to start to doubt yourself. This is especially true when you find yourself in a bumpy spot in your business.
Perspective matters a lot at these moments. I’ve had a lot of successes and failures. Whenever I fail at something, I just get up, try to learn something from it, and try again. But I don’t benchmark myself against others – I don’t care where I am on any particular list, I don’t care what other people are saying, I don’t care what is written about me (good or bad). I just try to learn from each experience and get better. And, when I realize that I’m doubting my ability to do something, I double down on the notion of figuring it out and use an inquiry to get me there.
Reprinted from Feld Thoughts
Brad Feld is a managing director at Foundry Group who lives in Boulder, Colorado. He invests in software and Internet companies around the U.S., runs marathons, and reads a lot. Follow him at twitter.com/bfeld.