Mindset is everything when it comes to growing a successful business. The way you think and the mental habits you cultivate can help your business thrive or struggle. While there are many different outside factors that come into play when running a business, ultimately, it’s your thinking habits that most influence the trajectory of your success.
Most people don’t have what it takes to create and grow a great business. Many people try but the majority fail, and in the majority of cases this is down to their mindset. Yet with a few simple modifications to the way they viewed life and business, they could have developed a ground-breaking company.
If you’re passionate about what you do and want desperately to succeed, then here are a few simple thinking habits to cultivate into order to help transform your business for the better.
Believe you are personally responsible for your life’s outcomes
The more successful entrepreneurs have an unswayable sense that they are in control of their destinies, and no one else. Outside factors can have an influence of course, but these people believe success is ultimately down to their own decisions and actions.
Those who fail in business usually blame outside factors such as bad luck, a poor economy, unfortunate timing, or other people letting them down. You should do the opposite. Never rely on anyone – or any excuse – to come to your rescue. Take responsibility and focus on how your actions, and your actions alone, determine results.
Allow ideas to incubate
When you’re trying to grow your business and make it thrive, it might seem counterintuitive to take time off and focus on something else. However, when you don’t give your mind time to process the huge amounts of information you’re consuming, your creativity is smothered.
Whenever possible, take time out each week to focus your mind away from your work. In so doing, you’ll allow ideas to incubate in the subconscious mind. We’ve all heard of those eureka moments people have when sitting on the beach, walking the dog, or relaxing in the bath.
Carry through on those ideas meticulously
Once successful business people get an idea, they meticulously study and test its viability. At first it might seem ludicrous or unworkable, but some of the best inventions and innovations have come from being driven enough to dig deep into something’s potential.
It’s easy to simply do what lots of others in your industry are doing but in order to get ahead you need to come up with that unique idea and then develop it to its full potential.
They focus on the 80-20 rule
Less successful business owners fail to follow what is known as the ‘Pareto Principle’, which is more commonly known as the 80-20 rule. The philosophy behind the rule is that 20 percent of your activities will account for 80 percent of the results/income you achieve.
The best solopreneurs take this rule to heart. They adapt their mindset so they focus their energies on the 20 percent of action that makes the most impact. The rest of their work they delegate or automate or get rid of altogether.
Most adults, apart from some creative artists, hate ambiguity. Not knowing whether a certain task, project, or business idea will work renders many people paralyzed with indecision and fear. When you don’t have all the information you need, moving forwards with a business idea can be terrifying.
This is something successful solopreneurs have learnt to overcome or accept. Starting and growing a new business, especially in unchartered territories, is never going to be a sure thing. Yet some of the most famous names we know today started out with just a simple concept. They had no clue as to whether it would succeed but they moved through the fear regardless.
Get up early
It’s no surprise to learn that many of the most successful people wake up early. For example, Richard Branson rises at around 5:45 every morning. Whether it’s 4am, 5am, or 6am, becoming an earlier riser can provide you with a number of benefits.
You get an extra hour or two to prepare for work, perhaps in the form of exercise or meditation, or you can start work earlier and finish earlier, allowing you to spend more quality time with your family. For many people, those quiet early morning hours can also be their most productive.
Maintain focus regardless of failure or success
Successful people maintain a strong balance regardless of whether they’re meeting with failure or success, at any point in time. Growing and running a business never runs smoothly and there will always be peaks and valleys. If you let these ups and downs sway you emotionally, then you’ll be left susceptible to either paralyzing anxiety or lazy overconfidence.
Maintain your focus on what needs to be done and on your goals, especially when you’re reaping the rewards of success and being inundated with adulation.
They make the time to relax and be with family
There are some solopreneurs who make a big deal of the fact they work 16+ hours a day. They brag about their packed schedule on social media as though it’s something to emulate.
The fact is, there’s more to life than work, especially if you have a family and want to maintain your emotional and physical health. While there will inevitably be periods, especially during the early stages of a new business adventure, when you work very long hours, what you really need to quickly achieve is a sensible work-life balance.
Make time to relax, be with family, take vacations, meditate/pray, and exercise. You’ll return to work renewed, invigorated, and with fantastic incubated ideas.
Consider making one day each week a completely no-work day. Switch-off completely on that allotted day.
Transforming how you think and work
Changing a few simple thinking habits can significantly increase the likelihood you meet with success when it comes to growing your business. Mindset is so important, both in business and in general life.
A carefully cultivated positive outlook and mental attitude can take you further than you ever imagined possible. It’s simply a matter of incorporating these thinking habits, like those listed above, into your daily routines. With practice, belief, and perseverance, they’ll become second nature.