If you’re new to the world of entrepreneurship, you may think that you’re playing it safe by starting small with your business. Whether it’s fear of failure, a scarcity mindset, or limiting beliefs preventing you from taking your business to the next level, it is important to identify these obstacles and address them head-on.
So how do you get rid of those limiting beliefs and start playing big? The first step to achieving this is by developing a growth mindset. A growth mindset means embracing challenges, uncertainty, and failure as opportunities for learning and growth. It also involves making smart financial decisions, having emergency savings, and hiring experts in areas where you lack skills.
By adopting a growth mindset and taking challenges head-on, you can grow your business and achieve greater success.
First things first, what is a limiting belief?
A limiting belief is a negative thought that limits your potential. You might believe you’re not good enough to have a successful business. Or you might believe you’re not creative enough to develop new ideas. Limiting beliefs can come from a number of places, including family history, comments from friends, or societal norms. Whatever the case, these limiting beliefs can hold you back from achieving your goals.
It’s important to identify your own personal limiting beliefs so you can address them head-on. Once you identify a limiting belief, ask yourself: Is this really true? Is there evidence to support this belief? If not, it’s time to let go of that negative thought and replace it with a more positive, empowering belief.
By recognizing the negative thoughts holding you back, you can begin to challenge them. Once you identify your limiting beliefs, try to develop evidence that disproves them. Entrepreneurs’ most common limiting beliefs are that they are not “enough” (good enough, smart enough, old enough, young enough, rich enough, educated enough…you get the idea) to start their own business.
But think of all the people who started successful businesses without any experience. Take author and success coach Jen Sincero for example. She was in her 40s, making next to nothing as a freelance writer, just barely getting by and uncomfortable with the idea of building wealth. Until she ultimately changed her mindset and decided that she was tired of living in a space of scarcity. In her book, You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life, she writes that “If you want a life you’ve never lived, you have to do things you’ve never done.” Within three months of this mindset shift, she set up an online business helping entrepreneurs write proposals, and she tripled her income.
Even Bill Gates can show you that anybody with an idea and passion can be successful. He was a college dropout with a passion for computer programing. Yet, at only 20 years old, he and his business partner Paul Allen founded Microsoft, and at 31 years old, Bill became the youngest billionaire in history.
By refuting your limiting beliefs with evidence, you can start to see them for what they are: false thoughts that are no longer holding you back.
Fixed mindset vs. growth mindset
Most of us have a mix of fixed and growth mindsets regarding our abilities and talents. Fixed mindsets cause false beliefs that say we are born with a certain amount of intelligence and skill — there is little we can do to change that. A fixed mindset can lead us to give up easily when facing challenges because we don’t believe we can improve.
On the other hand, a growth mindset is a belief that you can develop your abilities and talents through effort, good teaching, and practice. People with a growth mindset see challenges as an opportunity to learn and grow instead of a threat. They are more likely to persevere in the face of difficulties because they believe they can improve with time and effort.
Which mindset do you have? If you have more of a fixed mindset, try to adopt a more growth-oriented attitude and eliminate your many limiting beliefs. It may not be easy at first, but it can make a big difference in how you approach challenges in your life.
Shifting out of a fixed mindset
Try these five tips and tricks to overcome your fixed mindset and move into a growth mindset:
- Acknowledge your fixed mindset beliefs and reframe them as growth mindset beliefs.
- Embrace challenges and view them as opportunities to learn and grow.
- Practice growth mindset affirmations such as “I can do anything if I set my mind to it” or “I am open to learning new things.”
- Seek out growth mindset role models who inspire you to think differently about your abilities and talents.
- Be patient with yourself and remember that change takes time. Growth mindset thinking is a lifelong journey, not a destination.
By implementing some of these tips, you can begin to develop a growth mindset and let go of the false beliefs holding you back from success.
6 tips for having a growth mindset in your business
As an entrepreneur, it is important to have a growth mindset and positive thinking in your daily life to succeed.
Here are a few tips successful people use to develop a growth mindset in their business:
Let go of the fear of failure
One of the biggest things holding entrepreneurs back is the fear of failure. We often think that if we fail, it will be the end of the world. But the truth is that failure is a part of life and how we learn and grow. If you’re afraid to fail, you’ll never take risks or try new things, which will prevent you from growing your business.
Take on challenges
Another way to develop a growth mindset is to take on challenges. By taking on new challenges, you’re pushing yourself outside your comfort zone and expanding your horizons. When you’re faced with a challenge, don’t think about whether or not you can do it – just focus on finding a way to get it done.
Make strategic business decisions
Adopting a growth mindset doesn’t mean acting recklessly. To grow your business, you need to have a strategy and make thoughtful decisions. This means investing in things that will help you grow and cutting costs in areas that aren’t necessary.
It may also mean hiring an expert when needed. There’s no shame in admitting that you don’t know everything. Hiring experts in areas where you lack skills is a smart move. By doing this, you’re ensuring that your business is getting the best possible advice and help.
Another thing that can hold entrepreneurs back is the fear of the unknown. We often want everything to be certain before we take action, but life is full of uncertainty. By embracing uncertainty, you can become more comfortable taking risks and trying new things.
Learn from your mistakes
Finally, it is important to learn from your mistakes. When you make a mistake, don’t beat yourself up – just take a step back and analyze what went wrong. Doing this can prevent you from making the same mistake again in the future.
Letting go of your own limiting beliefs
To grow your business, it is important to overcome limiting beliefs. Many limiting thoughts are just negative beliefs that are holding you back. Identify limiting beliefs in your life, challenge them, and reframe them to encourage positive thinking. By doing this, you can develop a growth mindset and take your business to the next level.
If you feel like your business is stuck in a rut or if you feel like YOU are stuck in a rut, it’s time to book a discovery call with me. Remember, it is not about finding the perfect solution – it is about taking action and learning from your mistakes. So don’t be afraid to fail, embrace uncertainty, and take on new challenges. Your business will thank you for it!