A while back, I applied to attend the prestigious Clarion South residency for writers of speculative fiction. They're supposed to let applicants know by the middle of August. I'm surprised to find out how nervous I am. Application is by story (sort of an audition on paper, really), so if they reject me, they've rejected my story.
People often tell writers (and other artists), "Don't take rejection personally." Frankly, I think this is crap advice. Anyone who writes knows that it is much less painful to be insulted regarding one's person than it is to bear insults to one's writing.
Every writer I've ever talked to fights the spectre of "not good enough". And it has nothing to do with feelings of self-worth. One can be utterly convinced of one's own intrinsic goodness and importance as a human being, and still suffer agonies of "not good enough" when it comes to the writing.
So if I don't get into Clarion South I will not be taking it personally. No, it will be far worse than that.