Let`s face it… how many businesses fail within 5 years of starting?
The numbers are not good, you know it, I know it, everybody knows it. Now, there`s a couple of points which are essential for every business`s success and most of them are easier said than done…
… business is not for everybody, the odds are against you but that doesn`t mean you don`t take the right knowledge and apply it to work in your favor.
I`m assuming that you`re not like everybody and you want to throw yourself into the business world and that`s reason I`m sharing with you a few key pieces that need to be in place in terms of your mindset that will definitely help you in the early stages, when everything looks confusing, scary and overwhelming, pieces that I personally put together after the early mistakes.
One thing I can tell you is that entrepreneurship changes people, it is an amplifier of who you are and what you do, it will reveal your strongest and weakest points, and the good news is that you`ll have a chance to improve the areas on which you are weaker and focus on the ones you shine the most.
Ok, so the following steps are the ones that helped me when I started my entrepreneurial journey:
#1 The Millionaire Mindset
This was hard for me to develop at the time, I came into the online business space with a scarcity mindset, mainly because of my middle-class upbringing and some old negative beliefs about money. This one is a killer, starting out with a scarcity mentality is the worst business plan you can have and I go into more depth about this on other articles.
Basically, what happens is that every time you need to invest in your business, you`ll have those old and limiting beliefs about money preventing you to have the necessary expansion to create results, you`ll be forced to play it safe and as far as I know, no successful person ever won in life by playing defense.
#2 Study The Giants
This brings me to the point of showing you how essential it is to study successful people, what they`re doing, what they`re saying, how they approach business, life or investing. I remember at the time, my case study was Grant Cardone, I loved the guy, I loved his message and I`m still a huge fan, I consumed every book he wrote, every podcast, every video, I became a maniac, obsessed with learning about how he was operating.
That eliminated a lot of limiting beliefs I had and gave me a big boost of confidence when approaching the apparently daunting task of creating a business and having to borrow capital from my family to make my dreams a reality. Analyze the giants of this planet, don`t make the mistake of taking advice from quitters.
#3 Eliminate Negativity Out Of Your Life
Do you have someone in your life dragging you down, right now? If so, kick them out of your life… yes, I said it, I know it`s not popular and having those people in your life, especially when you make the bold decision of starting a business and potentially change your life for the better, it will not help you. I`m still doing this, if someone enters my life and I notice that they are not gonna help me grow, the relationship ends there.
I don`t mean getting a divorce because your spouse is not supporting you or to say to your parents: “I`m not your son, anymore…”, I`m saying that you can figure out how to work the situations, it could be as simple as changing environments. Remember, no negativity allowed, make that one of your priorities.
#4 Consistent Action
One of the main reasons why some business owners succeed at such a high level is that they go through anything to make their visions a reality, they take massive and consistent action towards their goals. My experience in military and as a real estate agent taught me a lot about persistence, whether it was failing over and over on a shooting practice before hitting the target or doing endless cold calls with a high failure rate.
The point is that you need to approach success as your duty, obligation and responsibility, no matter what, you know where you want to go, even if you don`t see the end results, there`s only one way to go and that`s forward.
# 5 Patience
I`m such a suspect on this one, I am an impatient human being, I`m driven by progress and results. The entrepreneurial journey showed the hard way on how much lack of patience I had at the time and it`s definitely a work in progress for me. Let`s put it this way, anything worth creating takes time, don`t you think?
Getting on board with quick fixes is a poor person`s mentality, it`s gonna slow you down, that`s a promise. I wouldn`t say that patience is something you develop right away, like the money mindset shift, but it`s a skill that you need to develop as you go through your journey. There are things in life that are not supposed to be a rush.
There you go, 5 steps to help you get on board in the world of business, with the right mindset, feeling more confident and prepared for the challenges you`ll certainly face along the way.
Don`t be fooled, I`m more aware of this than most entrepreneurs and I still don`t know anything about business… you`re never too smart to stop learning.