Make It New Grads

30-year-old millionaire: This is how to beat self-doubt

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Kyle Taylor didn't graduate from college, but he knows what it takes to succeed. The self-made millionaire now runs his own company, and he didn't have an easy start.

In his 20s, the young professional found himself in a serious financial hole — $50,000 in debt, to be exact. Taylor started exploring strategies to make more money, blogging about the experience along the way. That blog eventually became personal finance site The Penny Hoarder, which provides money advice to millions of readers, and Taylor became a millionaire.

In an interview with CNBC, the 30-year-old shares what he wishes he'd known at age 22:

"Quiet people run the world, too," Taylor says. "I remember thinking in my early 20s that my mixture of introverted-ness and impostor syndrome would mean that I would never be able to lead a team or get to 'the top.'"

Kyle Taylor, founder and CEO of The Penny Hoarder
CNBC
Kyle Taylor, founder and CEO of The Penny Hoarder

As an introvert, Taylor says he found networking and meeting new people exhausting. As a professional with "impostor syndrome" — a term used to characterize the self-doubt felt by accomplished people who believe they are unworthy of their achievements — he found it hard to feel confident.

But eventually, he discovered the advantages that traits he had believed were weaknesses gave him in business.

"My introversion can be a strength when channeled correctly," he says. "I'm thoughtful, strategic and able to make deep connections with the folks that I do communicate with."

In fact, former Google career coach Jenny Blake says that the ability introverts have to hold meaningful conversations is a key strength.

"Sure, I'm slipping out of cocktail parties 30 minutes after they've started," Taylor admits, "but that's because I've already found the person I needed to meet and made a lasting connection."

Opening up to friends and colleagues about his lack of confidence also helped.

"I've learned that nearly everyone has impostor syndrome at some point in their life," he says. "It's led to so many people confiding in me that they feel the same way. Sometimes even from those same, confident CEOs I once thought were unshakable!"

Turning inward and focusing more on how you're feeling can help you, according to organizational psychologist and bestselling author Tasha Eurich. Her book, "Insight," explores how asking yourself key questions can lead you to a more fulfilling career.

When Taylor feels his self-doubt creeping up, he uses a simple but effective strategy to keep moving forward.

"One thing that's helped me," he says, "is to be honest about when I'm feeling that way."

Check out the formula Taylor uses to save money