The other day I was having a discussion with my team about the correlation between self-confidence and income. My partner, Sunny, (former Marketing VP), is sharing her thoughts here:
Your self-confidence can have a direct impact on how much money you earn.
When you believe in yourself and are confident in how much you can achieve, you behave in a way that allows you to go after what you want and increase your financial success. Remember that it all starts with having the right mindset and believing in yourself.
You’ll ask for a raise.
You’ll put yourself up for a promotion.
You’ll charge what you are worth.
Let’s break it down further. The ROI on Self-Confidence:
1. With robust self-confidence you’ll go the extra mile.
The last 10% of the most worthwhile endeavors is where you need to dig deep and find the enthusiasm to keep you going. This requires a deep-rooted belief that you can do it. It requires that your confidence in your capability is greater than the challenge ahead.
Going the extra mile when others might give up is what separates good from great.
2. You’ll get comfortable saying NO.
Have you ever said “Yes” to something to please others, or because it’s easier than rocking the boat by saying “No”?
Because you wanted to keep someone happy?
Because you thought it was expected of you?
I know I have, and I bet you have, too.
Your time, energy and focus are limited, and for everything you say “Yes” to, you’re saying “No” to something else. When it comes to your earning potential specifically, this equation is critical—focus on what matters to you.
3. You’ll build better connections.
It’s not easy meeting people and building relationships, but it is those relationships that build success. (As Ivan says, no one does anything alone).
Once you stop second-guessing yourself and are no longer inclined to draw back from people out of fear of being judged or rejected, you will be SO. MUCH. HAPPIER.
With self-confidence, you worry less about others' thoughts of you, their approval, or how you’re coming across. You’ll be able to connect naturally using the best of yourself … not in a bombastic, ‘look-at-me’ kind of way, but in a way that honors who you are and what you can do.
4. You won’t let fear of failure hold you back.
Being a high-performer in life and in business requires you to make a lot of decisions, and lean into risk. Sometimes those decisions will work out, and sometimes they won’t. Without self-confidence, it’s easy to take the blunders and the failures personally and to let them affect your thinking and halt your progress.
It took me a while to figure this out, but I believe that the failures are as important as the success in building anything worthwhile.
5. You’ll do what matters to you: True success comes from committing to ‘purpose’, engaging with the things that matter most to you, and taking continued, meaningful action. But that’s only possible if you sweep aside the rules and expectations that don’t serve you.
That’s a pretty clear R.O.I., and a compelling reason to invest in growing your self-confidence.