From Doubt to Dominance: Overcoming Impostor Syndrome as a Woman Entrepreneur

Imagine standing in a room filled with accomplished business leaders, yet feeling like you don’t belong. That’s exactly how Cybele Negris, co-founder of Webnames.ca, felt when she won a prestigious award. Despite her success, she thought:

“What was I doing here? Sooner or later, they’ll find out I’m not as smart as they think.”

Or, imagine turning DOWN opportunities because you didn’t think you were good enough or you were afraid of what people would think about what you would say. That was me.

This is impostor syndrome—a psychological pattern where high-achievers doubt their success and fear being “exposed” as frauds. First coined by psychologists Pauline Clance and Suzanne Imes in 1978, this phenomenon disproportionately affects women entrepreneurs, even when they have a proven track record of achievements.

If you’ve ever felt this way in your business—questioning your skills, feeling like you just got lucky, or fearing that people will discover you’re not as competent as they think—you’re not alone. In fact, studies show that up to 84% of entrepreneurs have experienced impostor syndrome at some point, and new research shows that both women and men are affected by this debilitating issue but they respond to it differently.

Let’s explore how impostor syndrome impacts women in business and how we can break free from it.

First, What Is Impostor Syndrome?

Impostor syndrome is the persistent feeling that you are not as capable, intelligent, or successful as others perceive you to be. Despite evidence of success, women who experience impostor syndrome or feelings of impostor syndrome in certain situations, tend to attribute their achievements to luck, external factors, or over-preparation, rather than their own skills and abilities.

The original study, conducted in 1978, by Drs. Pauline Clance and Rosemary Imes found that high-achieving women were particularly susceptible to these thoughts and feelings. They discovered that women who excelled academically and professionally still felt undeserving of their success, fearing that they had somehow tricked others into believing they were competent.

While impostor syndrome affects both men and women, research shows that women experience it at higher rates due to social conditioning, gender biases, and the pressure to constantly prove their worth. New research now shows that men also experience impostor syndrome but it manifests in their lives differently than women.

How Impostor Syndrome Affects Women Entrepreneurs

As a business owner, impostor syndrome can have a real impact on our success. It’s not just about self-doubt—it influences decision-making, visibility, and even business growth. Here are just a few of the ways I’ve been stifled in the past as a result of impostor thinking.

1. Fear of Taking Risks

Until Fall 2024, I (like many others) hesitated to take big leaps in my business—whether it’s launching a new product, applying to become a certified woman-owned business, or even believing that people would pay me, I felt like I was always working to get “ready” or that I wasn’t “qualified enough.”

A study conducted by Hewlett-Packard found that men apply for jobs when they meet about 60% of the qualifications, while women tend to wait until they meet 100%. This was me! This same mindset can hold women back from seizing business opportunities, leading to slower business growth compared to male entrepreneurs.

2. Underpricing and Undervaluing Services

Women who experience impostor syndrome often struggle with charging what they’re worth. They may feel guilty about setting high prices or fear that clients will think they’re overcharging.

One mentor once told me that:

“The price is the price!”

Do not get on the struggle bus of decision-making because someone questioned your price or did not respond to you after you shared your prices. Maybe they weren’t meant for you in this season. Maybe they need more information or time. Whatever THEIR issue is, is NOT yours.

Business coach and entrepreneur Jamie Wolfer recalls feeling uncomfortable pricing her services in the early days of her wedding planning business:

“Who am I to be running a business and asking people for money? There are people who have been doing this for years!”

This mindset leads many women to charge too little for their expertise, ultimately undervaluing their own work and limiting their revenue potential.

3. Overworking and Burnout

If you secretly believe you’re not qualified, you may overcompensate by working longer hours and overpreparing to prove yourself. Women who experience this manifestation of impostor syndrome often feel the need to be “perfect” in everything they do, leading to chronic stress and burnout.

Psychologists have found that individuals who experience impostor syndrome often struggle with:

• Perfectionism, where nothing ever feels “good enough”

• Overworking, in an attempt to prove their competence

• Burnout, due to constant stress and anxiety

Over time, this can take a toll on mental health, making it even harder to operate a successful business. According to one of the foremost thought-leaders on impostor syndrome, Dr. Valorie Young, impostor syndrome is more about the “distorted views of skills and competencies” that force us into unrealistic standards of success and goal achievement.

4. Avoiding Self-Promotion

Marketing yourself is essential for business success, but impostor syndrome makes this difficult. Many women entrepreneurs avoid promoting their work, speaking on podcasts, or applying for media opportunities because they “feel” unqualified.

This had been my struggle for a countless number of years before I, as my grandmother would say, “put my foot down.” While I have managed to “put myself out there” over the course of time, my efforts had been few and far between, disjointed, and lackluster to say the least—but yet, I persisted.

Even accomplished women experience impostor feelings. I can remember when Michelle Obama admitted to feeling like an impostor, despite her global influence. She said:

“I still have a little impostor syndrome... It doesn’t go away, that feeling that you shouldn’t take me that seriously.”

If one of the most powerful women in the world can feel this way, it’s clear that impostor syndrome is not about actual ability—it’s about perception... What Dr. Valorie Young acknowledges as distortion. Kind of like wearing your glasses upside down. You’re wearing them but what you see is warped, angled, and maybe even acutely slanted.

Let’s Talk About How to Overcome Impostor Syndrome

But have you heard the good news? You don’t have to let impostor syndrome hold you back.

Here are five powerful strategies to help you overcome this dreadful feeling and step into your full potential.

1. Recognize and Name It

The first step is acknowledging that impostor syndrome is an experience that you’re having, NOT a personal failing. Even the most successful women entrepreneurs feel this way at times.

When you recognize it for what it is—just a pattern of thought, NOT the truth—you take away its power. That is how I’ve been able to move forward and enter into this entrepreneurial space full-time as of November 2024. Yes, it’s taken time to get my footing but that’s with any major transition.

2. Track Your Wins

Start keeping an “Evidence Journal” where you document your successes—big or small.

• Secured a new client? Write it down.

• Received positive feedback? Save it.

• Hit a revenue milestone? Celebrate it.
  

By regularly reviewing this list, you’ll train your brain to focus on evidence of your competence rather than your doubts. These actions aren’t the only actions you can focus on but they are certainly at the top of my list along with a few others.

3. Shift Your Mindset

Reframe negative thoughts by replacing them with factual, empowering statements.

• Trash this: “I just got lucky.”Celebrate this: “I worked hard for this opportunity, and I deserve it.”

• Trash this: “I’m not an expert yet.”Celebrate this: “I know enough to help others, and I’m always learning.”
  

When you actively shift your thoughts, you begin to believe in yourself even more.

4. Surround Yourself with Support You’re not meant to do this alone, Sis. I learned this more than a decade after starting my business and burning myself out, up, down, and to the side.

Surround yourself with mentors, coaches, and like-minded businesswomen who can uplift and encourage you will remain critical to your success.

Research shows that women entrepreneurs who have strong support networks experience less self-doubt and greater business growth. Consider joining affinity groups for women entrepreneurs as being part of a supportive community helps you see that you’re not alone—and that you truly belong in the entrepreneurial space can help you fill some inexplicable voids and challenges.

5. Take Action Before You Feel Ready

The best way to silence impostor syndrome? Do the thing anyway.

Even if you “feel” unqualified, take the leap:

✔ Raise your prices ✔ Apply for the opportunity ✔ Speak on the panel

The late Dr. Susan Jeffers emphasized the importance of “feeling the fear and doing it anyway” in her highly acclaimed best seller of the same name. More than twenty-five years later, she reminds us that confidence comes from action, not from waiting to feel ready.

You Are More Than Enough

If impostor syndrome is holding you back, remind yourself of this:

Real impostors don’t feel impostor syndrome.

The very fact that you worry about being “good enough” is proof that you care—and that you belong.

The next time that self-doubt whispers, “You’re not qualified,” push forward anyway. You’ve put in the work. You are capable. You are worthy. You deserve every bit of success and achievement coming your way.

Now go claim it, Sis. In this moment, let go of the doubts—whether loud or lingering—that impostor syndrome tries to plant within you.

Instead, embrace the wisdom of Oprah Winfrey, who reminds us:

“It’s your job to create the highest, grandest vision for your life, because you become what you believe.”

So believe in your brilliance, lead with boldness, and step fully into the successes and impact that you envision for yourself, your family, and your community.

Dr. Phyllis Clark, Ph.D | Hey, Sis! Enterprises, LLC

Helping mission-driven women in business and education enhance clarity of self, build unshakeable confidence, & overflow with the courage to do what they've been called to do.