Are you your business’ own worst enemy? Here’s how to identify if you’re holding yourself back, and three ways to fix it.
Here’s how to identify if you’re holding yourself back, and three ways to fix it.
You may have noticed that ‘mindset’ is a word being thrown around a lot recently. There are numerous books and articles on success mindset with Business Coaches having whole programmes around how to ‘think’ to achieve goals and build a thriving business.
We are all either moving towards something (desire) or moving away from something (fear). In business, it can broadly be divided into the desire for success versus the fear of failure. It is most certainly true that how you think affects the decisions you make and the actions you take.
We behave very differently when we are operating from a place of fear than we do when we are motivated by confidence and desire. Often we are unaware we are in the fear zone because the fear zone is comfortable, safe, fully justified and can keep us quite busy.
No business ever became successful operating from the ‘fear zone.’ Let’s compare mindsets to help you identify if you are one of the many people who could use a shift.
- Hunter versus Hoarder – In the area of profitability
- Purpose driven versus Excuses driven – In the area of choosing which actions to take
- Buy it versus DIY – In the area of investing in skills
One mindset is driven by a desire for success, the other a fear of failure. Let’s break these three down and see if you can relate.
Hunter / Hoarder
HUNTER: You can probably imagine that a hunter is a fearless animal, scoping out opportunities, devising ways to bring the deals and build revenue for the business. The hunter’s motto is ‘the bigger the better’. The hunter is out, actively seeking deals, building a network to make the job easier. The more active and skilled the hunter is, the higher the business revenue will be. In the business world ‘hunting’ means ‘selling’.
HOARDER: The hoarder, in contrast, will be focused on the small details. The hoarder will protect every dollar that enters the business in the fear that there will not be enough revenue. The hoarder will haggle over small numbers, spending hours of valuable time ensuring that no-one is overcharging or taking advantage of them. Focusing on the fear of loss, the hoarder with be worried about lack of funds, and resent paying others for their services.
Purpose / Excuses
PURPOSE: The laziest person in the world, when driven by a purpose, will reach deep and take action to get what they want. The difference between doing something and not doing something is whether or not you have a compelling reason to do it. Purpose driven people pile up their reasons, making their purpose compelling. With a compelling purpose, their actions will keep you moving in the right direction. Cultivate their mindset by writing your purpose down and putting it on your wall – keep that at the very top of your daily mindset.
EXCUSES: When the reptilian part of the brain is triggered, an excuse will arise. That is because this part of your brain is responsible for keeping you safe and avoiding risks. They say you can find justification for anything if you try hard enough, and the opposite of having purpose is having a believable reason why something is impossible, not worthwhile, or too hard.
These excuses are all lies designed to stop you from taking risks. If you believe the lies, you will lose your drive and stall. In business, there is a constant need to stay on target, stay motivated and keep the purpose for your business front of mind in order to continue taking actions. Making excuses will stop the actions required for business growth.
Buy it versus DIY
BUY IT, also known as ‘outsourcing’ is based on the concept that you may not be the greatest bricklayer, so you pay someone who is. In building a business, like building a house, it is critical to buy skills and expertise. Getting good advice during the first few years of business can save a lot of time and expense in the long term and assist with business growth. Viewing smart outsourcing as an investment in the business rather than an expense is a good way to keep in mind that outsourcing is a necessary part of building a business.
DIY mindset wants to save expense by doing everything themselves. It may seem that doing everything yourself is a cheaper way to go, which appears true, but you cannot be out ‘hunting’ if you are behind a desk searching for images for your website, or trying to work out how to register for PAYG Withholding tax. There are plenty of people who have the skills to get you set up and running smoothly without trial and error. Use your contacts, build your network, and find people to help you. Often, the ‘DIY angle is a form of excuse – because while you are busy doing everything yourself, you have a reason not to be out hunting.
Let’s summarise the two:
- Hunter/with a clear purpose/prepared to invest/desire for success
- Hoarder/believes their own excuses/tries to do everything alone/fear of failure
I believe we are ALL alike… we all start off as number one, then things get harder, get scary, and we move into number two. Often we swing back and forth, from one to the other, one minute we are taking actions, the next minute we are back in fear.
Take a few minutes when you feel yourself sliding into the fear zone to just remind yourself. You are a hunter, you have a clear and compelling purpose, and you are prepared to invest. Isn’t that what is required to be an entrepreneur? Staying in that sphere will help your goals materialise, and prevent your fears becoming realities.
Adopt this mantra:
I am a hunter, I am committed to my purpose, I invest in my business success.