Breaking Free From The ‘Self-Employed' Mindset
Apr 30, 2018
No one is going to be surprised to see me write that Mindset is really important for business owners.
We touched on Mindset in my Business Club back in January when we looked at our Self-limiting Beliefs and our Money Mindset two things which have a significant impact of your business success.
I know we have Members in the Business Club and in the Collective who have a very pro-active approach to Mindset matters and we have Members who teach Mindset techniques to others, providing inspirational events and trainings.
My personal take on Mindset in business is a little bit more prosaic than many may expect.
Don’t get me wrong, Mindset features in all of my Programmes, but I will always link working on your Mindset to the achievement of some very tangible outcomes.
I am not what you would call a 'theoretical Mindset Coach’. For me it is all about the application - so I consider myself to be an ‘applied Mindset Coach’. My approach is a very practical one, sharpening your understanding of the impact of your mindset to enable you to do the things that you need to do to grow a business you love.
The thing about Mindset for business owners is that whilst it is vital to adopt the attributes of a ‘positive mindset’ in order to achieve success focusing so generically is not necessarily going to get you to the next level. You need to hone in on very specific beliefs and aspects of your Mindset.
In my experience when most us start our first business our principal goal is to get paid for doing work that we love. We hustle to get our first offerings out there; we strive to find our first customers; we hone our skills and with luck we begin to earn a living.
But sometime later most people are struggling to grow their businesses beyond that point and to close the gap between where they are now and where they ‘really' want to be.
They look longingly at others with successful businesses, taking considerable time off; pursuing a variety of interests; having time to create great new products and services; and building talented Teams around them or outsourcing successfully to increase their potential to grow their businesses further. Many can’t understand why it isn’t happening for them too.
Running your own business is very different to being 'self-employed'. If you want to breakthrough the revenue ceiling with your business, to build more time off, and create a legacy with your work, you will need approach things very differently too.
It’s one of the things we hear from so many people attending their first Business Bootcamp - they arrive as people who are ‘trying to earn money doing the thing they love’ and they leave realising that they are ‘Business Owners’. For us this outcome is one to the best responses we can hear from attendees. We have done our job!
So to grow your ‘Business’ you need to adopt the ‘Growth Mindset’ of a business owner, rather than the ‘Limited Mindset’ of self-employed person.
The Self-Employed Mindset means that you believe that:
🔹Working hard pays, and working even harder pays more
🔹You can do the work better than anyone else could
🔹If you're not working, you're not getting paid
🔹Taking on staff or outsourcing takes money out of your pocket
🔹You just want to 'earn enough to be happy'
The Business Owner’s Mindset means that you believe that:
🔹Working ‘Smart' pays and working ‘Smarter' pays more
🔹Using the right people in the right roles will do the best work (quicker!)
🔹Your company earns revenue and you enjoy the profit—even if you are not working 🔹Taking on staff or outsourcing grows your bottom line
🔹To build your legacy you need to earn ‘more than enough’ money
If you’re looking at this post and realising that you have a “Self-Employed Mindset’ don’t beat yourself up! It’s a natural stepping stone that most of us take on the business-owner-journey, me included.
Throughout the 1990’s my Accountant (who I have always used as a sounding board) spent a lot of time telling me that I needed to work on my business model; and my pricing structure and I happily continued to ignore his advice and run my business my way. I was doing what I loved every day and I was earning a good living. What could possibly be wrong with that?
It was some time later (after I’d read ‘Rich Dad - The Cashflow Quadrant') that I realised that what I had done was ‘ created my own job’. Far more rewarding, with better terms and conditions, and a better ‘Boss’, but none the less I owned my own 'job’.
When I was struggling to see how I could scale my business I realised exactly what my Accountant had meant. The key to growing my business beyond the ceiling I had hit didn’t lie in some mysterious external forces, or business skills beyond my own - the first step to finding the answer was actually within me all along!
My business goals were too small; my perspective was too narrow - I needed to think like a business owner!
Your journey to grow your business involves a number of core elements which I believe can be aligned into three key areas:
🔸First you need Clarity (of purpose; the why, the who; the what; the when; the how of your proposed business);
🔸Then you need the Business Owner Mindset and
🔸Finally nothing will happen at all if you don’t Take Action (the ability to plan and implement effectively).
None of these three vital elements will get you there on their own… they work in tandem, dove-tailing to provide you with your own unique blueprint for success.
Have you managed to navigate your way into the Business Owner Mindset yet?
If you’re ready to take the next step with your business and want to work smarter not harder - Message me and we can arrange a FREE strategy call to help you get the Clarity you need and create a realistic Plan of Action to achieve your Goals. Don’t just wonder what happened; make things happen, join me and turn your Ideas Into Action!