Stop Listening to These 5 Self-Limiting Beliefs Stunting Your Business Sometimes being brutally honest has the happy result of realizing, even if you can improve. you are smart, you work hard, you can do this.
By Kimanzi Constable Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
Every successful entrepreneur had to conquer many self-limiting beliefs before they could grow their business. These beliefs may be buried deep in your mind, or maybe you've verbalized them, but these self-limiting beliefs will keep your business from realizing it's full potential.
There will always be areas of your business where you can learn and improve. A wise entrepreneur said, "An expert is a student first." However, there's a difference between always striving for improvement and staying stuck with self-limiting beliefs.
Related: Cultivating The Mindset of a Successful Entrepreneur
The key to success in business is constant growth. Your mindset determines what actions you take to grow your business, which determines the numbers on your bottom line. To have the right mindset, conquer these four self-limiting beliefs.
1. My content isn't good enough. Many entrepreneurs question the quality of the material they produce but the important opinion is your audience. The feedback you receive from your target audience tells you if your content is quality. Here are some ways to know if your content is hitting the mark:
- The open rate of the emails you send out.
- The engagement with your social media posts.
- The comments on your website.
- How much people are sharing your content.
- Constant growth in visitors to your website.
- Constant growth on your email list.
If you're seeing success in these areas, stop second-guessing yourself. When these numbers are where you want them to be, that's ok. There's always room for improvement, but don't let that become a self-limiting belief.
2. I can't raise my prices. Money is always an uncomfortable topic, especially when you're asking people to pay you. That uneasiness leads too many entrepreneurs to undercharge for their product and services.
You shouldn't be afraid to charge a fair price if you're offering people a solution to their biggest struggles. Successful entrepreneurs charge based on value, not what they think someone is willing to pay. If what you create has value, people will always find a way to pay for it.
Related: Cultivating The Mindset of a Successful Entrepreneur
3. There's too much competition. There are more than 900 million websites and 250 million blogs with 175,000 being added everyday. There are a lot of entrepreneurs teaching the same things. Despite those numbers, your business can thrive.
Many businesses don't grow because they try to blend in. They try to connect with influencers and even try to copy those who are successful. You can't blend in and stand out at the same time. Be different. Embrace what makes you who you are and infuse that into your business. Be the "square peg in the round hole," as Steve Jobs said.
4. I don't have enough credentials. There are places where credentials are a must: doctor, lawyer, chemist and so on. However, the only credential today's entrepreneur needs is the knowledge that comes through experience.
You can learn things in books and classrooms, but experiencing them in the real world is how you grow as an entrepreneur. Ignore the haters who try to point out your lack of credentials and focus on those you're helping.
5. I don't have enough resources. Starting and growing a business usually requires some sort of financial investment. This holds too many entrepreneurs back from starting or growing their business. There are many free resources that can help you start and grow. WordPress alone let's you set up a free website, which is one of the most important parts of your business.
If your funds aren't where you want them to be, don't let that become a self-limiting belief. Today you can use a number of different ways to grow your business:
- Crowd funding.
- Venture capitol.
- Bartering.
- Building as funds come in.
We are entrepreneurs because we don't think 9 to 5. We see problems as opportunities to grow. Not enough funds is a challenge to think outside of the box.
Conquer self-limiting beliefs by getting honest with yourself. Acknowledge them and take the steps to beat them. Focus on creating quality products and services. Focus on those who your business benefits.
Realize that we live in a time when anything is possible. You have everything you need to take your business to levels you never thought were possible. It starts with your mindset.
