Tuesday, November 25  

How Having Confidence Can Destroy Your Business

After yesterday's post, someone asked me if having absolute confidence in yourself can be a bad thing.

Of course it can. It can be a terrible thing.

2 of my brothers and I all have similar personalities - we're very driven and very, very competitive.

One brother goes as far to describes his drive to succeed as a "sickness".

Our Competitiveness Is Our Biggest Strength & Biggest Weakness

We've talked many times on how our competitiveness (as a result of this confidence in ourselves) is our biggest strength AND our biggest weakness.

• We never, ever give up
• We never quit
• We never concede a point

That can be good.
It can also be disastrous.

2 Reasons Your Confidence Can Undermine Your Business

1. Sometimes the best thing you can do is quit. Quitting at the right time can free up resources that might be better used elsewhere.

Quitting can help make your successful. Successful people quit all the time. Indeed, part of the reason they are successful is because they quit the stuff that doesn't work.

If you're have the utmost confidence in what you're doing you might not recognise the need to quit before it's too late.

2. If you're over confident you tend to dismiss others' criticisms.

That's not to say that confident people aren't receptive to ideas - I feel the more confident I've gotten over the years has allowed me to relax and acknowledge I don't know everything (hardly anything if the truth be told).

This, in turn, has made me more receptive to advice, feedback and criticisms.

Confidence is great. Over-confidence is not so great.

Cheers

Brendon