How self-loathing blocks growth

Self-esteem is absolutely essential in Buddhist practice, but it may seem like self-esteem has no place in Buddhism. The Buddha taught us to stop identifying anything as I, me, or mine, because doing so leads to suffering. In Mahayana Buddhism we say the self is empty of any inherently-existing, enduring, independent self-nature. What exactly is it we're supposed to hold in esteem, or have confidence in? If the main point is to transcend self-concern, isn't self-esteem the opposite of what we're going for?