Every business owner faces challenges. But have you considered which of those obstacles exist only in your head?
Sometimes, what’s holding you back is nothing more than a belief – and all too often, a belief that’s built on assumptions, not reality.
These beliefs manifest as an internal voice that says, “I can’t,” “I’m not ready,” or “This won’t work.” Listen to the little voice too often and you’ll develop a limiting mindset. Which leads to limited opportunities, limited growth, and limited success.
It’s an easy trap to fall into. Nobody enjoys failure, and there’s never a shortage of legitimate external factors (market conditions, competition, lack of resources) pitted against you.
But left unchecked, a limiting mindset will drag you down and make sure you never unlock your full potential.
How a limiting mindset shows up in business
It’s important to understand how a limiting mindset differs from a bad attitude or a lack of self-confidence. A limiting mindset is not automatically negative in nature. It’s simply an untruth that feels as though it’s rooted in facts.
It can sound like:
- “I’m not good with numbers, so I’ll never understand my finances.”
- “My business isn’t big enough to benefit from strategic planning.”
- “No one can do this as well as I can.”
- “10% YoY growth is the maximum for my market.”
These beliefs impact your daily decisions.
If you think you’re bad at marketing, you might avoid launching a new campaign. If you are skeptical of your soft skills, you may skip out on key networking events. If you believe “good help is impossible to find,” you will continue to work your fingers to the bone instead of hiring support.
Over time, these small choices create bigger consequences – for your business and your personal wellbeing.
Playing it too safe
In the moment, a limiting mindset can look like avoiding risks, delaying decisions, or sticking to what’s comfortable instead of what’s necessary. Maybe you’ve dismissed a new tool or strategy with “We’ve never done it that way.” Or hesitated to raise prices because “Our customers will go to our competitors.”
This mindset creates inefficiencies by narrowing your vision to the now instead of broadening your vision for the future.
An easy test to determine if your decision-making process is being influenced by a limiting mindset is to ask: Am I making this choice based on evidence, or because it feels unfamiliar or risky?
A limiting mindset compounds
When playing it safe is your business philosophy for too long, you create a ceiling for your business that is lower than your potential and impossible to break through.
Be careful not to confuse being happy with your life and settling for “good enough” rather than pushing toward what’s possible.
A step-by-step guide to changing your mindset
The good news is that a limiting mindset isn’t permanent! Once you recognize the pattern, you can tackle your mindset head on.
Here’s how to do it:
Start with a single belief
Running your business with a limiting mindset is like driving with the parking brake on – you’re still moving, but with unnecessary resistance. When you shift how you think, you shift what’s possible for your business.
Recognizing that a limiting mindset is holding you back can be an overwhelming discovery. Don’t let it be.
Every entrepreneur has limited themselves at one point or another. It’s human nature. The trick is to not make a habit of it.
Start small. Choose one limiting belief to tackle. Then another. And another.
Before you know it, you’ll find yourself saying, “I can,” “I’m ready,” and “This is gonna work!”
_____________________________________________________________________________________
Accountability Services’ Behind the Puzzle series shares honest thoughts and stories from our own business journey. Like you, we have a vision for our company that goes beyond turning a profit – and like yours, our path to success has been lined with obstacles and triumphs, frustration and joy, problems and solutions. As our team works to solve our own business puzzle, we hope this candid look behind the scenes provides useful insights to help you solve yours.
