We’ve all been there. You’re brimming with an idea, a vision for something exciting and impactful. You take a deep breath, push past the initial fear, and dive into the world of entrepreneurship. But then, it hits you: doubt.
A nagging voice whispers uncertainties. That voice begins highlighting potential roadblocks, and suddenly that initial spark starts to fade away. This internal critic, coupled with external skepticism, can be enough to send even the most determined entrepreneur running for cover.
But here’s the truth: doubt and criticism are inevitable companions on the entrepreneurial journey. A Kauffman Foundation report states that only about 20% of startups actually make it past year seven. That statistic alone is enough to fuel the flames of self-doubt.
However, the mark of a true entrepreneur isn’t the absence of doubt, but the ability to navigate it. In the face of negativity, it’s crucial to remember the wisdom of those who see your potential, the ones who believe in your journey.
This was Warren Phillips’ key message in a recent Making Bank episode on our YouTube channel. Here’s why surrounding yourself with these champions and embracing your own belief is the key to thriving as an entrepreneur:
The Power of Believers: Why Having Your Corner Matters
Imagine this: you’re training for a marathon. You’ve poured months of sweat and dedication into your preparation. But on race day, as you stand at the starting line, self-doubt creeps in.
“Can I really do this?” whispers your inner voice.
Suddenly, you hear a familiar voice cheering you on. It’s your friend, your mentor, someone who’s seen your commitment and believes in your strength. Their confidence becomes a powerful counterpoint to your self-doubt, pushing you forward.
This is what it’s like to have believers in your corner. In entrepreneurship, these individuals could be - investors who see potential in your idea, mentors, friends and family who celebrate your small wins and offer unwavering support when things get rough.
Here’s how having a strong support system benefits you:
Motivation and validation: Believers serve as a constant source of encouragement. Their belief in your vision fuels your own and reminds you why you started this journey in the first place.
Honest Feedback: True supporters don’t shy away from offering constructive criticism. They challenge you to think critically and help you identify areas for improvement.
Celebrating Milestones: The entrepreneurial journey is not easy. Having a support system that celebrates your wins, big or small, keeps you motivated and energized.

Finding Your Cheerleaders: Building a Support System That Works
So, how do you find these champions? Here are a few tips:
Network Actively: Attend industry events, join online communities, and connect with other entrepreneurs. Surround yourself with positive and inspiring individuals.
Seek Mentorship: Find someone who has walked a similar path and can offer valuable guidance. Look for mentors through organizations or professional networks.
Build Genuine Relationships: Don’t just network for the sake of networking. Build genuine connections with people who share your values and vision.

Turning the Tide on Doubt: How to Embrace Your Why
Having a strong support system is crucial, but it all starts with you. Here’s how to cultivate unwavering belief in yourself:
Know Your Why: What drives you? What problem are you passionate about solving? Having a clear purpose provides direction and fuels your determination during challenging times.
Focus on Progress: Don’t get discouraged by setbacks. Celebrate small wins and milestones, and remember that every step forward is a step closer to your goals.
Visualize Success: Take time to visualize your goals achieved. Imagine the positive impact your venture will create. This mental exercise strengthens your resolve and keeps you motivated.

The entrepreneurial path is rarely linear. There will be moments of doubt, setbacks, and unexpected turns. But by surrounding yourself with believers and building your own self-belief, you can navigate these challenges and emerge stronger. Remember, it’s a journey, not a destination. Enjoy the ride, learn from your experiences, and never stop believing in the power of your vision.
As the entrepreneur Malcolm Gladwell once said, “The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.” So, keep believing, keep moving forward, and most importantly, keep chasing your why.