Building a business is a bit like building a house. You're going to have much longer lasting success and a much stronger house if you lay solid foundations to begin with. A powerful, positive mindset helps build a strong foundation in your business. There are three core elements that you need to succeed as an entrepreneur in business.
1. A powerful and positive mindset: This relates to having the right kind of energy, clarity and focus in your business.
2. Strategy: Embarking on a business and succeeding requires you to have really clear goals. You need to have clarity on what your goals are and specifically, your key success metrics.
If your goal is to hit seven figures this year from a service-based business, you’ll want to break down the following metrics:
You need to know your numbers and what it's going to take to convert your leads to sales.
Prioritising how you spend your time and money is also critical to achieving your profit goal so that you don’t run out of cash. Your strategy should include what you, as the business owner, will devote your time to and working out what tasks you might outsource to other people.
3. Taking action: This involves taking consistent, daily action and spending it on things that matter - which you would have determined by having a documented strategy.
All three components obviously matter when you're building a business but here's where people often go wrong.
Mistake #1: Focusing only on action
If you're only focusing on action, you may feel that you're too busy to put any energy into your mindset or health. You may even slip into a rut of not exercising and eating junk food.
This is the mode that I call the ‘desperate hustle’. You're frantically working hoping that you're going to see some rapid results but you're really not operating at your best. What's happening here is that you're too busy to be effective and this quite quickly leads to burnout. Also, if you lack precision because you don't have a clear strategy, your actions might be misdirected.
Mistake #2: Focusing only on Strategy
If you over-focus on strategy and stop taking action, then the problem here is that the best laid plans with no action and the wrong kind of energy won’t lead to a good outcome. This results in a cycle of endless planning where nothing actually comes to fruition.
When you have a solid mindset, the first thing you get is the mental clarity to find the right balance between strategy and action. You will start to act on purpose and with purpose. This will also help you to find balance in other areas of your life so that you can prioritise exercise and eating healthy foods to increase your energy levels.
By starting with your mindset, you’ll approach your strategy creation from the best state and then take meaningful action that will lead to results. You'll also maintain the discipline to be consistent.
Your mindset is the one component that you can't outsource. Nobody can work on your mindset for you. It's something that you own and you have to take responsibility for it.
It is the one piece that you really have to master because without a solid mindset, the other components can end up being quite weak and inconsistent.
Mindset training often teaches that to master your mindset you need to focus on your thoughts and to think positively. Though this is true to a level, thoughts are very complex and not things we can necessarily understand or immediately master.
To master your mindset really quickly, you have to remember that your physiology controls your psychology. Your physical movement and your physical state has a much bigger weighting on your mindset than simply trying to control your thoughts.
As a Money Mindset Coach, I always start with physiology because it's where you can make the most rapid breakthrough. Anything that you manifest is actually based primarily on the feelings in your body and the thoughts in your head catch up later.
If you've been stuck in a bad routine and you're looking to snap out of it to make a big change in your business, there are two quick strategies you can implement right away:
1. Become aware of your physical posture now. Are you standing up straight? Are you sitting down and slouching? If you’re feeling negative, chances are your posture is quite restrictive. Take note of what you're doing and correct it! Stand up straight, take a deep breath, stretch, and go for a quick walk. By changing your physiology, you will see an immediate change in your mood.
2. Start your day with some exercise. It could be a jog, a walk or anything you enjoy doing. Physical movement is going to release endorphins into your body and you'll see an immediate change in your energy and in your motivation.
Daily exercise is the one thing that works for me without fail. Even if I’m in a killer bad mood, exercise and fresh air always clears my mind and shifts me back into positive energy.
To accelerate your success in business, start with your mindset. By mastering your mindset first, you'll end up making much faster progress with your strategy and you’ll take more effective action.
And remember my top tip: start with your physiology to change your psychology. This will shift your energy and lay a foundation for you to take your money mindset to the next level.
To your success,
p.s. Whenever you're ready to experience a massive money mindset breakthrough, here's how I can help you:
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