According to ‘The Principles Of Psychology’, an 1890 book by William James, known as the father of American psychology, self-worth is based on our actual achievements and our aspirations, as in the equation below:

Self-Esteem = Success/Pretensions.

The equation simply means that if we have more success, we have good self-esteem. The idea is to focus on our strengths, skills and in those areas where we can do something meaningful.