Navigating Imposter Syndrome in Tech Leadership Roles

Imposter syndrome at work can affect anyone, regardless of how senior they are or their impressive professional background. Even in the fintech world, where innovation and confidence are prized, self-doubt can manifest and affect high-performing leaders.

Imposter syndrome can emerge when leaders are confronted with the dual pressures of high expectations and rapid industry evolution, particularly in fintech, where technology moves at lightning speed. Imposter syndrome is more common than we often acknowledge, and knowing you’re not alone can be helpful in taking the first step.

Spotting the Signs of Imposter Syndrome

There are some tell-tale symptoms fintech leaders should be mindful of, particularly as they step into new roles or face significant challenges:

• Persistent Self-Doubt: Despite proven achievements, you may question whether you’re qualified enough to lead your team. This is especially prevalent in a field like fintech, where the technology and regulatory landscapes are constantly shifting.
• Attributing Success to External Factors: Many leaders downplay their role in success, attributing achievements to “luck,” “good timing,” or team efforts, sidelining their own contributions.
• Fear of Failure: The high stakes in innovation can cause hesitation in leaders, stalling key decisions out of fear of public mistakes.
• Difficulty Accepting Praise: Praise can feel uncomfortable, as though you haven’t earned it or it is not deserved, even if the results show otherwise.
• Feeling Like a Fraud: Despite scaling teams or raising funding rounds, a lingering fear persists that one day, “the truth” about your perceived inadequacies will come out.

What Drives Imposter Syndrome

The fast-paced, competitive environment in tech can often amplify feelings of inadequacy. When this is accompanied by a top-down management style, this can unintentionally exacerbate imposter syndrome. Leaders operating in progressive firms find value in adopting a coaching style.

Equally,a drive for perfection, common among tech leaders, can fuel imposter syndrome. In fintech, teams may be handling critical financial solutions or compliance-heavy challenges, which can make leaders feel overwhelmed by the need for flawless execution.

For many, a lack of a strong support systems can also drive that overwhelming feeling. While this is certainly improving, many tech organisations have limited opportunities to openly discuss vulnerabilities. Peer groups become a value asset for everyone, but especially for those feeling a sense of loneliness in their leadership role.

Recognising Growth vs. Imposter Syndrome

It’s important to distinguish between natural discomfort from stepping into a new, challenging role and true imposter syndrome. Feeling unsettled during periods of growth can be a positive sign. It means you’re stretching yourself outside of your comfort zone. 

However, if self-doubt persists long-term or intensifies despite external success, it may signal deeper imposter syndrome that needs addressing.

I’ve worked with lots of highly capable leaders willing to challenge themselves to move beyond their existing comfort zone. Feeling off balance and/or a sense of discomfort is normal and to be expected when you’re growing. But if you’re still doubting yourself long after the wins stack up, that’s not humility, that’s imposter syndrome in disguise.

Strategies for Managing Imposter Syndrome

So how do you deal with the challenges of imposter syndrome? It doesn’t have to impede your leadership. Here are a few practical steps to combat it:

• Shift Your Mindset: Transitioning to a leadership role requires a company-wide perspective rather than just focusing on your niche. Spend time understanding how other departments, including engineering or compliance, align with the overall vision. Spend the first few meetings observing rather than contributing. Listen to understand team dynamics and alignments.
• Lean Into Coaching: Don’t rely solely on your current expertise. Coaching can help uncover blind spots in leadership and offer clarity, and provide a sounding board. In-person executive coaching is a powerful tool for deep personal growth. Complementing this with innovative solutions like AI leadership coaching apps, make coaching more accessible, offering real-time support across a wide range of scenarios and providing around-the-clock guidance when you need it most.
  • Delegate and Empower: Avoid the trap of micromanaging as an enterprise scales. Effective delegation helps leaders maintain focus on high-value priorities while teams feel trusted with ownership of responsibilities.
• Build a Network: Connect with external leaders, both within and outside the world of FinTech. Whether it’s meeting other founders or attending conferences, these connections inspire new ideas and reinforce how widespread certain challenges are in the sector.
• Set Realistic Expectations: Startups and scale-ups thrive on innovation over perfection. Mistakes will happen, but they often lead to invaluable lessons. Start small, iterate, and improve.
• Reframe Success: There may be a mindset shift required, from considering the volume of tasks completed on a given day, to how, as a leader, you are contributing towards long term strategies.

Avoiding the Comfort Zone Trap

One of the biggest risks for leaders in any sector battling imposter syndrome is retreating to the comfort zone of their previous roles. Whether it’s over-involvement in day-to-day technical work or doubling down on tasks better suited to others, this behaviour can:

• Frustrate teams by signalling a lack of trust.
• Undermine broader strategic goals.
• Increase feelings of inadequacy, as managing every detail cannot solve complex challenges.

This can be a difficult shift. It’s common to like hanging on to the things we’re great at, it’s comforting, and can be a security blanket. But growth demands a shift. The real leadership move is letting go of what you can do well and stepping into what your company actually needs from you now.

Leaders’ Takeaway

Imposter syndrome may not discriminate, but it’s navigable. By acknowledging it, seeking support, and adjusting your focus from perfection to progress, leaders can drive innovation and growth without being derailed by self-doubt.

Imposter syndrome comes with the territory, particularly in tech. But when you reframe it as part of a learning experience rather than a limitation, you’ll find that it’s not an obstacle but a stepping stone.

Kirsty Bathgate, accredited executive coach, founder of gearingforgrowth.com and co-founder of www.bravyn.ai

Photo by Tim Gouw: https://www.pexels.com/photo/man-in-white-shirt-using-macbook-pro-52608/

Dealing with deal fatigue: managing your finances after selling a business

Selling a business can be both financially rewarding and emotionally exhausting. After months of negotiations, scrutiny and stress, it’s common for many entrepreneurs to experience ‘deal fatigue’. This is a state of mental and emotional burnout that makes it difficult to immediately tackle personal financial planning.

Yet, with potentially millions in proceeds at stake, it’s crucial to protect your wealth while giving yourself space to reflect and plan your next steps. Here’s how to strike that balance.

Take time to reflect

The period following a business sale is ideal for pausing and reassessing your goals. Beyond the financial windfall, the sale often marks a major lifestyle shift. Before making long-term financial decisions, it’s important to understand what you want your future to look like.

Rushing into investments or commitments without clarity can lead to costly mistakes or the need to unwind decisions later.

The four-box framework

To help navigate this transitional phase, a structured approach can provide both security and flexibility. One effective method is the ‘four-box framework,’ which segments your funds based on short and long-term needs:

1. Instant access

This is your emergency fund. It’s liquid, safe and ready for unexpected expenses. Typically held in an instant-access savings account, it won’t earn much interest but offers peace of mind. Just be aware of the £85,000 Financial Services Compensation Scheme (FSCS) protection limit per person, per bank, were the bank to fail. Note that FSCS protection does not apply to NS&I, but these accounts are guaranteed by HM Treasury.

2. Lost income replacement

Post-sale, many entrepreneurs see a drop in regular income, especially if they stay on in a reduced capacity. This box covers the shortfall, ensuring you can maintain your lifestyle while you transition. For instance, if your income drops from £200,000 to £80,000, this fund bridges the gap.

3. Capital expenditure

This box is for planned expenses such as celebratory purchases, tax bills, mortgage repayments or other large outlays expected in the next few years. Setting aside funds for these ensures they’re accounted for without disrupting your broader financial strategy.

4. Long-term investments

This is where your future wealth grows. However, it’s wise not to rush into investment decisions immediately after a sale. Your risk tolerance may be temporarily skewed, and markets can be volatile. Taking time to develop a thoughtful investment strategy is key. Investment firms also fall under FSCS protection, but this is only applicable if the firm fails, not if investment underperform. Remember, investments carry risk and you could get back less than you invested.

Using a gilt ladder

To manage these medium-term needs (such as those outlined in points two and three earlier) while avoiding the risks of equities or the erosion of cash by inflation, a ‘gilt ladder’ can be a smart solution. This involves purchasing UK government bonds (gilts) with staggered maturities that align with your income or capital needs.

For example, if you need £120,000 annually for the next three years, you can build a gilt portfolio that pays out that amount each year. These can also be adjusted for inflation. Additional gilts can be used to cover future expenses or serve as a temporary holding place for long-term investment funds.

While gilts are generally lower risk than equities, their value can fluctuate with interest rate changes, especially those with longer maturities. That’s why it’s important to seek professional advice when building a gilt ladder or exploring other investment options.

Creating space to plan what’s next

Selling a business is a major life event. The financial gain is significant, but so is the emotional impact. A structured approach like the four-box framework helps you secure your wealth while giving you the breathing room to consider your next chapter, whether that’s retirement, a new venture, or something entirely different.

Article written by Alison Fitzsimons at Evelyn Partners – alison.fitzsimons@evelyn.com

Photo by Photo By: Kaboompics.com: https://www.pexels.com/photo/black-calculator-on-top-of-paper-4491441/