Ask any successful entrepreneur how much mindset has played into their financial success in business and you’ll hear “90% or more!” What you have been conditioned to believe around money and success heavily influences what actions you will take (or don’t take.) For many in the speaker and entrepreneur industry, upgrading the mindset is key to achieving more success.
I’ve been thinking a lot about the mindset shifts that have made a big difference in my own success – especially the ones I’ve taught my clients.
Often we buy into what the collective consciousness teaches – “work harder, always be selling, get more new offerings out there” are just a few of the messages we hear over and over again. What I’ve found is that if someone with a big message wants to grow their impact and income, the model of success has to change first. These four mindset shifts are actually tackling a big myth around what it takes to make it past six figures. For some they’ll be slightly radical, but I’ve witnessed how quickly each of these steps work to transform cash flow and results.
Myth #1: Do More to Grow
One of the best mindset shifts I personally ever made was realizing that in order to achieve more I had to become more leveraged. There is a big trap in believing you have to “do” more in order to grow. Ultimately there are only so many hours in the day and when you tap out, you’ll falsely believe you can’t grow any bigger.
As a leader and movement maker, you can’t afford to become a bottleneck to greatness. When you adopt a “leader” mindset, you will tune into a new strategy for growth. All of a sudden your mind will search out ways to achieve more through delegating and leveraging your time.
Try this mindset: “How can I exponentially grow my output while doing less?”
Myth #2: I Need to Know How
There are two types of entrepreneurs – risk driven and safety driven. For safety driven people, the mind will always search for a clear path before you feel ready to take action. The need to know “how” will always strangle your ability to take the leaps of faith required to break through your financial ceiling.
A powerful mindset shift that will catapult your progress is to let go of knowing how and just decide what outcome you will have. If you don’t have all the answers, just take the actions that you can take – hire a coach, do research, partner up with someone with more experience or hire someone to do it for you.
Try this mindset: “I release my need to know how.”
Myth #3: If I Can Do It, I Should…
If you are creative and visionary, chances are you have a million ideas swirling around just waiting for a chance to be birthed. For many, this creative process is a bit like an addiction. If the current offerings aren’t making enough money or if you feel bored by your business, you create something new. Now if you thrive in chaos and don’t really care about your profitability, this might just work for you.
But often creating new offerings and having a million projects just stunts your growth, adds to your overwhelm and puts you on a crash-course for financial challenges. The mindset shift in this case is to replace constant creation with optimization. Recognize that saying NO to new ideas can actually create space for you to focus on making your current business offerings you have more profitable and less stressful to manage.
Try this mindset: “Simplify to multiply.”
Myth #4: Only Spend Money You Have
There’s a lot of conflicting advice in the world about how to manage your money. Most of this advice applies to your personal finances, especially when it comes to limiting your personal debts. But when it comes to growing your business, a whole new set of rules apply.
No matter what stage of growth you are in, the fastest way to better results is to invest in the future success today.
Most entrepreneurs never believe they have enough money to afford the resources they need. Instead of figuring out how to make an investment in the right coach, training or team happen, they hold back and “wait” until they have enough money. That day often never arrives so progress is slow.
You have to invest now in the right resources to get the right results tomorrow. The mindset shift is to decide to invest then get clear on what has to happen to cover the investment.
Try this mindset: “What would have to happen to cover this investment – and be profitable?”
Remember that our mindset is just a collection of beliefs and ideas that have been formed over decades. Often the mindset we have now will not be the right one to achieve significance. An action you can take today to upgrade your mindset is to learn how to condition your mind for higher levels of wealth and success.