Confidence is often seen as a nice-to-have, but for business owners and managers, it’s essential.

It’s the difference between seizing opportunities and hesitating, between leading with conviction and second-guessing every decision. But confidence isn’t just about achieving more—it’s also about enjoying the process. A lack of self-confidence can turn even the most promising career or business venture into a stressful experience. When you’re constantly doubting yourself, success feels like luck rather than a product of your skills and effort. Raise your confidence, and work suddenly becomes more rewarding and enjoyable.

Intrinsic vs. Extrinsic Confidence

There are two main types of confidence: extrinsic and intrinsic.

Extrinsic confidence is based on external validation—winning a sale, receiving praise, or seeing past successes stack up. It feels great, but it’s fragile. If your confidence depends on closing deals, what happens when you lose one? Your confidence takes a hit just as easily as it was built up.

Intrinsic confidence, on the other hand, isn’t based on outcomes—it’s rooted in the belief that you can handle whatever comes your way. It’s knowing that success and failure are part of the process and that setbacks don’t define you. This is the type of confidence that keeps you going when times are tough, and in my opinion, it’s the real winner.

Confidence and Resilience: Two Sides of the Same Coin

A colleague of mine, Garry, pointed out that much of what I describe as confidence is actually resilience—the ability to bounce back from setbacks and failures. He’s absolutely right. Confidence isn’t just about knowing you can do something; it’s the knowledge that failures will come, and when they do, you’ll find a way forward. That’s the real magic. As my colleague Bruce Wilson put it, “Every failure becomes a platform for my future success.” I couldn’t agree more. My own (slightly clichéd) take on this is “Some you win, some you learn.”

Confidence and Procrastination

Procrastination is often a symptom of low confidence. When people hesitate to take action, it’s usually because they lack confidence in their ability to make the right decision. The result? Delayed progress, missed opportunities, and a nagging sense of frustration.

Building confidence naturally reduces procrastination. When you trust your ability to assess situations and make sound decisions, you move faster and more decisively. However, this shouldn’t be mistaken for reckless action. Confidence isn’t about blindly charging ahead without thought. Instead, it’s about evaluating key points, considering alternatives, comparing and contrasting, and making informed choices. True confidence isn’t reckless—it’s strategic. By strengthening intrinsic confidence, decision-making becomes smoother and procrastination diminishes, leading to faster progress and greater success.

How to Build Intrinsic Confidence

If you want to achieve more while enjoying the journey, here are a few practical ways to build intrinsic confidence:

  • Reframe failure as learning – Every setback is feedback. Instead of dwelling on what went wrong, ask: What can I take from this?
  • Take action before you feel ready – Confidence is built through doing. The more you push yourself, the more capable you’ll feel.
  • Develop a resilient mindset – Expect setbacks and prepare for them. If you know they’re part of the process, they won’t shake you as much.
  • Surround yourself with the right people – Confidence is contagious. Spend time with those who challenge and support you.
  • Recognise past wins, but don’t rely on them – Use them as proof that you can succeed, but don’t make them the foundation of your confidence.

Confidence isn’t just about getting ahead in business—it’s about enjoying the journey. Build intrinsic confidence, and you’ll not only achieve more, but you’ll also enjoy the process a whole lot more.

What’s one thing you can do today to strengthen your confidence?