Hey girlboss, are you feeling stagnant in your business and not sure what is causing the business to slow down?Let me share with you some business tips on how to remove this feeling out of your life and grow your online business faster with a growth mindset!
After going through the stagnant stage in building my own online business in the past, I found out that the cause was sometimes rooted in our own thought process that became misconceptions. The good news is the moment you realized that you need to get out of these misconceptions, your business will prosper and you will grow.
Misconception #1: I already spent so much money on my business!
So, you invested a lot of money just to get your onlin business started. Now, you realized that you need to spend even more money on your website, marketing, social media, courses, trainings and administration related materials and sometimes, out of town conferences to take your business to the next level. All you can do is watching your business getting more and more expensive everyday. I get it! I went through the exact same thing just two years ago after I decided to walk away from my full time job to build my online business full time.
I used to place all my focus on how much things cost and tried to do a lot of things myself, instead of reaching out for professional help. Don’t get me wrong! I have learned a lot during the process but looking back, I wish I asked for help and paid the professionals to handle the job because I wasted so much time doing things that did not bring immediate results to my business. And if you understand the value of time, you know that time is money you can’t get back.
How to fix it?
The fix came from my decision to have a growth mindset. Instead of focusing too much about how much it costs at the moment, I started shifting my focus on the long term gain and the potentials that my business could grow into. I asked myself questions like “What if my business can grow bigger & faster after I attend this training?” “What if my website gets more traffic after I purchase this service?” “What if my brand gains more exposure?” and I realized that sometimes you just have to go for it and realize that your success is totally in your control. Business is all about short term sacrifice for long term gain. Listen to what your gut is telling you!
“Focusing on the long term gain instead of short term loss will help you to see things in a different perspective”
Misconception #2: “This is how I/we always do things!”
Promise me to use this sentence very carefully when you have a conversation with anybody!
When you are saying this to a client or a team member who is bringing you an alternative or new ideas that could potentially help your business grow, it means your mind is already close. Most businesses fail because of this reason. What works for your business today might not work tomorrow. As business owners, we have to always stay alert, stay open minded and stay innovative. It doesn’t matter if the idea/suggestion is a ridiculous one. When you allow your head to think that this is how you always do things, you are letting people know that you are not willing to change and grow. Nobody likes to work or do business with someone who doesn’t have the flexibility and the willingness to change. It might sound harsh but it is the truth.
How to fix it?
It’s easy to fix this one! How do I know? I used to be one. I used to think that there is a certain way to do things and since my way of doing things was working, I didn’t need to change. I used to be that perfectionist person that wanted everything to be perfect and done a certain way. Little did I know, perfection was my enemy for growth and success. The word ‘perfect’ does not exist in business. If your business is perfect, your business has no more room to grow.
“Learn to listen to different ideas and suggestions! So what if you try and fail? At least you can learn and grow!”
Misconception #3: I got some small results. Let’s celebrate and take a break!
I say ‘Yes’ to the celebration but ‘No’ to taking a break, especially when you want to succeed in life. Almost everything in life will slow down if you take a break. It’s like going on a healthy diet to become healthy but the moment you lose a few pounds, you go and take a break. I can guarantee that you will get all that weights back in just a few days. This is important when it comes to business. Do you know that while you sitting there taking a break, someone else is working non stop everyday towards their goals? Don’t take a break when you have not arrived at the finish line!
How to fix it?
Always remember that the race is tough and long but what is waiting for you at the finish line is much more rewarding! I like to surround myself with friends and mentors that always push me to the next level. We celebrate our success together but as soon as the party is over, we all get back on the grind and hustle. Having a support system like that really helps you staying on track and pushes you to achieve more in life. I found mine, you should also find yours.
“Don’t rest during the race, rest at the finish line!”
Misconception #4: “I can spend money on things I want now that my business is making money.”
Do you know that a lot of business fail not because they are not making money but because they don’t know how to manage their finance?
I love this quote from the book #Girlboss by Sophia Amoruso that says “Money looks better in your bank than on your feet”. When my business was growing, I had so many thoughts of purchasing new things: a new car, a new bag, a new pair of designer shoes. But I quickly realized that my money was better spent in my bank, in educating myself and investing back into my business.
How to fix it?
It all starts from being aware of where your money is going and realizing that every single penny you make during your first few years of building your business should be re-invested back into your business and yourself or your staff. Instead of spending it on things I wanted, I purchased social media and Pinterest courses to learn how I can take my online business to the next level. I bought tickets to trainings and coaching sessions to make me a better business owner. I bought books and audios on business, leadership and personal growth to improve myself.
“An investment in yourself will always have a positive return.”
Misconception #5: When______, then I will start____________
I call this a deadly statement. You can probably think that I exaggerated, but you have no idea how much of an impact this kinda of thinking would make on your success. It PUTS A CAP on your growth immediately.
Does any of this sound familiar to you?
“When it is the right time, then I will start pursuing my goals and dreams.”
“When I start making more money, then I will tell more people about my business.”
“When I start making more money, then I will purchase that course to grow my business.”
“When I start making more money, then I will invest more in a decent website.”
“When I start making more money, then I will expose my business to more people.”
I hear this every single day from a lot of my clients and new business owners and I always tell them, “Let’s put it in a different context!”
…Maybe because you have not told many people about your business, that’s why you are not making more money.
…Maybe because you didn’t invest in yourself, that’s why you are not making more money.
…Maybe because you didn’t invest in a decent website, that’s why you are not making more money.
How do I fix it?
I stopped saying things like this once I realized that I was putting the limit on my own business and on myself. I learned to tell the difference between ‘expenses’ and ‘investment’. I also learned to say ‘No’ to unnecessary expenses and say ‘Yes’ to necessary investments. If you are waiting for the right time, the right time will never come. The best time to do anything is RIGHT NOW. Don’t be that person who can’t grow because of their own limits.
“The only limit you have is yourself”
Are you a business owner who feels stagnant and need to improve your revenue and decrease your cost?
Looking to take your business to the next level?
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