The “con” in con-man is short for confidence. Con-men are successful because they are confident. They “fake it until they make it” one might say. This same confidence can and is used by successful law-abiding citizens every day. What I am suggesting is that there is such a strong connection between success and confidence that once one enters the loop through solid work, the loop begins to feed itself.
Lets talk for a moment about what I have identified as the entry point, “solid work”. This is the preparation, the due diligence, the hard data gathering that backs up the confidence. Yes, you can “fake it until you make it”, but those who make it eventually create solid work to back up their confidence. Without it, the faking can only last so long.
Now, if you’ve heard or read Jim Collins talk about “the flywheel concept”, you can see how this kind of applies here. In the beginning, it takes more solid work to get your confidence up, but once you have it, the past successes will make you more confident. Confidence will then lead to more success, but if you don’t keep backing it up with solid work, the flywheel will eventually stop spinning.
Danielle Franklin of ForexExplore.com says that “Once you earn new experience, the confidence increases,” and I would have to agree. Whether you are in stocks, sales, teaching, politics, or management, managing your confidence-success loop is critical.