If you’re in the business world, you might have heard about the startup mindset or the entrepreneurial mindset. These are a way of thinking about the world, your business, and your actions that prepare you for real-life success. However, there are 5 mindsets that are holding back your business that you need to look out for.
Let’s face it—starting a business is hard. Whether you’re trying to make it big on YouTube or start a local service business, you need to be looking to the future and your plan of action. With roughly 50% of small businesses failing in their first 5 years, you can’t afford to let your perspective hold you back.
Are you stuck in a cycle of no progress? It’s time to break that trend and create real change. Here are the 5 mindsets holding your business back.
1. You put yourself first.
Don’t get it wrong, self-care is important. This is especially true if you’re getting your business off the ground.
However, in your business, your customers and clients come first.
You can’t do and create whatever you feel like. You need to follow the needs of your customers, clients, and users. If you’re a blogger, for example, you’re not going to make much money just writing about whatever you want. The same is true in other aspects of running a business as well.
What to do instead: Instead, consider the pain points of your customers. It’s not about what they can do for you. It’s how you can create a strategy to put them first.
2. You can’t afford to invest in your business.
This is an understandable mindset trap. If your business isn’t bringing in as much cash as you expected, why invest back into it? Isn’t it just a waste?
In reality, you have to spend money to make money.
This doesn’t mean you need to take out a business loan and start overpaying left and right. it means you need to justify spending money on the things that matter. If something helps you build your business faster and get it in front of the right audience, this is a worthwhile investment.
What to do instead: If you’re struggling to justify investing in your business, it’s time to consider what’s important. You need the right skills and tools if you want to make money. Remember, your time is just as valuable. If you’re wasting time on small tasks, consider if you can outsource or invest in a tool. This is smart investing.
3. You need a huge following to make money.
In the digital age, follower counts matter more than ever before. Too much weight is given to the number of page, not necessarily the quality of the content, product, or service.
While it is true that followers matter to an extent, this doesn’t make or break your business. It’s always better to have engaged, active followers. There’s no use having millions of followers if nobody cares what you’re saying.
What to do instead: Consider how to become a strong part of your online community. Focus on quality over quantity. There’s a reason microinfluencers are so powerful today.
4. You’re not good enough.
Self-confidence is the killer for many businesses. If you don’t think you’re good enough or that you don’t have the right skills, you might feel like you’re being held back.
Think of the many business owners that came before you. They passed through similar challenges, and they didn’t always feel like they knew what they were doing. Still, they didn’t let that get in the way.
What to do instead: Don’t talk down to yourself about self-worth or skills. There’s a lot of power in just doing it anyway. Just fake it till you make it.
5. You’re afraid to fail.
Last but not least, many would-be business owners never take that big leap of faith because of one thing: fear. Fear can hold us back.
Not only might you be afraid of failing, but you’re worried about what others will think if you do. What happens if your business never makes it off the ground? How embarrassing will it feel to have lost so much time and money in the process?
There’s no way through the fear except to just let go of it. If you hold back from chasing your dreams just because you’re afraid, then you only let fear win.
What to do instead: It’s time to change the way you think about fear. You’re afraid because you have something worth chasing. This means you either choose to push forward anyway, or you allow yourself to fall victim to this mentality.
Are you ready to shift your mindset?
Stop being your own worst enemy. It’s easy to fall into any of these mindset traps above. If you want to succeed in business, you have to adapt and change your perspective.
Are any of these 5 mindsets holding back your business? If so, you’re not alone. Only you can make a real change and start changing the narrative. You’re in charge of your own story. It’s time to tell it your way.