Our beliefs tend to shape how we see the world around us. From our values around what’s right or wrong, how you are supposed to live life, the nature of people, our views on politics, culture, the environment, and more. These beliefs are especially apparent in business. They play a critical role in our entrepreneurial drive and the careers we pursue.
Our beliefs can do one of two things: Help us or hinder us. It is important for everyone to recognise which beliefs are limiting potential and make the changes needed to succeed.
Six common limiting beliefs that may well be holding you back from achieving true success include;
“I don’t have enough experience”
This belief is a common excuse for not starting a business or career switching. The truth is, there is no real reason why you are not capable of taking the first step. If you are not ready to quit your job, one of the best ways to launch your business is launch a side hustle. Set aside time before and after work and on weekends, to begin with: mind map your business plan, set up a website, outline tasks that need to be done to get started. When you just start somewhere, you will have completed the first part of your business, which will begin a natural snowball effect of ideas and inspiration to really get your start up off the ground.
I retrained to make sure I had the skills I needed to take my next step, so consider what training may help too. But don’t get stuck in a training loop to avoid ever taking action. It’s a fine balance.
“I don’t have enough money saved up to start my business”
Often, it’s not the money holding you back; that is just the excuse your give yourself because the reality is that you just don’t believe you are ready. There are dozens of ways to get the capital to start your business: crowd funding, personal loans, business grants and angel investors to name just a few.
Plus with a bit if planning you can save to give yourself some fall back money, and by launching as a side hustle to can earn while you learn.
“The market isn’t doing well right now”
As a business person, you have to be constantly looking out for ways to capitalise on situations. You can’t allow external factors, such as “market conditions,” to stop you from innovating and finding ways to succeed. These are excuses, not reasons. Throw out this limiting belief and adopt the belief that the market doesn’t control your business; you do.
“This is what worked in the past so let’s continue doing it”
If a strategy or campaign worked in the past, it’s because the right strategy was implemented at the right time. In the present, that strategy may still be a great one, but it may be the wrong time for it to succeed. Or, doing it the way you’ve always done it may be effective, but time consuming and outdated given the number of automation systems and digital advantages we have today. Running a business is a constant learning process, which involves adapting to current circumstances.
When thoughts of how things were done previously start to crop up, make sure they’re put in check by a rational and calculated judgment of how effective they will be in the present. Don’t let this belief be the root cause of repeated failures.
“The economy hasn’t fully recovered so people aren’t buying”
Once again, this is a common belief that blames an external factor on the success (or struggle) of the business. Who hasn’t blamed COVID for something (possibly rightly so). Often, when the overall economy is in a rut, innovative businesses thrive. They see the state of affairs and find a way to market their products in manner that appeals to the struggling consumer. Or, they take the opportunity to find undervalued investments that will result in a massive ROI once the economy recovers. They believe in taking responsibility for their success no matter what external conditions may be like.
“I know everything about the industry”
Doesn’t sound like a limiting belief does it?
But this is a dangerous thought that can become a threat to any business. Once you claim to be the best, to know everything there is to know, that’s when you let your guard down, giving your competitors an opportunity snatch a larger share of the market. Instead, adopt the belief that in order to maintain your success you have to work nonstop to be one step ahead. That way, you safeguard yourself from becoming a vulnerable target.
So it’s important to remember that you simply don’t know what you don’t know; The most successful entrepreneurs among us are teachable and willing to take guidance from mentors and coaches..
So what will you do to create the change you are looking for? Brexit has sort of happened, the Coronavirus is having an impact, oh there’s so many big reasons we could all use to stay right where we are and unfulfilled.
What’s the story you keep telling yourself that is holding you back? More importantly what are you going to do to rewrite it? Because only you can … there is no knight in shining armour going to do that for you, but as a coach and mentor maybe I can help you make that next step? If so please feel free to get in touch