Building confidence in your side hustle to start a business

Whether it’s overthinking it, a fear of failure or self-doubt, or worrying about the future before it’s even begun, these struggles can paralyse progress, but there are always ways to overcome and achieve your entrepreneurial dreams.

Recent research from Candle Shack found that 47% of Scots have said they are actively looking for new ways to supplement their monthly income, with many turning to ‘side hustles’ to bring in more cash, so it is more relevant than ever for us to support those thinking of this path.

1. Overthinking and procrastination

Overthinking is a common hurdle that many entrepreneurs face. It manifests as endless questioning and sometimes, full-on analysis paralysis. You might spend hours going over data, obsessing over every tiny detail, and so, you fail to move forward. The fear of making the wrong decision can lead to procrastination and, ultimately, to stagnation.

To break free from this trap:

• Recognise the signs and be aware of when you're overthinking or stuck in analysis paralysis, and how to overcome it, by doing things like setting clear goals, seeking feedback and embracing imperfection.
• Give yourself a time limit to do work, finish tasks, and make decisions.
• Make a decision and adjust along the way as you need to - progress is better than perfection. Start to build confidence in knowing that an action made is better than standing still.

2. Battling Self-Doubt

A common question that pops up when you're starting a business is, "Am I good enough to do this?" This self-doubt can lead to reluctance in moving forward, as you second-guess whether anyone would pay for your products or services. It’s a natural feeling, but if left unchecked, it can stop you from progressing.

To combat self-doubt:

• Reflect on your skills, talents, and successes that have brought you this far, focussing on your strengths. Write it all down and refer back to it when you need to.
• Keep a log of positive reviews or testimonials from clients, suppliers, family and friends, and refer back to it to reinforce the value you provide.
• Remember that growth takes time, and confidence will build as you continue to put yourself and your work out there.

3. Fear of failure

Fear of failure can be the biggest stumbling block for side hustlers scaling up their businesses. It may feel "safer" to keep things small, avoiding larger investments like marketing, hiring help, or setting ambitious goals. You might even hold yourself back by underestimating your potential, settling for just enough income to get by rather than aiming for bigger achievements.

To overcome the fear of failure:

• Remember failure is a learning experience, not the end of the road. Many successful business owners have failed multiple times before achieving their breakthroughs.
• Take calculated risks and start small if needed, but start. Gradually scale up, track your progress, and adjust as necessary.
• Challenge yourself to think beyond “just getting by” and aim for what will truly fulfil you. Set a vision for where you’d like to be in one year and five years – refer back to it often to see what progress you’re making.

4. Overcoming isolation

Working on a side hustle can feel lonely. You might be stuck in your own bubble, keeping ideas to yourself and not reaching out for help or collaboration. This limits your resources, opportunities, and support, which can stunt your business growth.

Here’s how to break out of that isolation:

• Connect with like-minded people, join online forums, or attend local business events.
• Surround yourself with people who have been in your shoes. Their guidance can help boost your confidence and provide valuable insights.
• Talk about your business with trusted friends, family, or peers. You’ll gain new perspectives and may even attract potential collaborators or customers. Why not try putting a challenge you’re facing to your peers, you might be surprised how they help you to see a new direction.

5. Charging what you’re worth

One of the biggest confidence challenges for new business owners is pricing their products or services appropriately. It’s easy to undervalue yourself, especially when you’re just starting out.

To charge confidently:

• Calculate the time, effort, and expertise that go into your product or service and know your value.
• Do market research so you know what others in your industry are charging and position yourself accordingly.
• If raising prices feels daunting, do it incrementally. Test the waters with slight adjustments, and you’ll build the confidence to charge what you’re truly worth.

Balancing the excitement of a new business with the fear of the unknown is tricky. When you're starting out, it can be difficult to trust your own judgment, leading you to seek validation from others. While support is valuable, relying too much on external opinions before making decisions can indicate that you don’t trust yourself.

Many start-ups will also experience imposter syndrome, the feeling that you’re not truly qualified or deserving of your success. Everyone has this to a certain extent. When it pops up you need to have the skills and tools to knock that back and continue regardless.

Building confidence in your side hustle to start a business takes time, effort, and self-awareness. By recognising the roadblocks, taking action, and learning to trust yourself, you can move past the doubts and confidently build the business you envision. Embrace the process, and remember: the road to success is paved with persistence, not perfection.

About the Author:

Nichola Henderson is the Founder of Coaching by Nic. Nichola is trained and certified in Transformational Life Coaching, Neuro Linguistic Programming, Clinical Hypnotherapy, Breathwork, Meditation, Vinyasa and Yin Yoga, Resilience and Positive Psychology, and Wellness Coaching.