Remember the Little Engine That Could?
“I think I can, I think I can , I think I can…”
She was on to something.
So often I work with clients who desperately want to multiply their income — doing the awesome work they love — but they have a big ol’ blindspot.
Their beliefs, their fears, and their attitudes that guide everyday decision making are holding them back from outstanding business growth.
Whether they can see it clearly or not, a fixed mindset is keeping their income and success at a static level. Their personal understandings about themselves and their potential are restricting their growth opportunities.
If you think you can’t, you can’t.
What a Fixed Mindset Looks Like
With a fixed mindset, an entrepreneur is likely to do the same things over and over, without changing them, because they believe that talent, success, drive, etc. are concrete.
Either you have it, or you don’t.
Those with a fixed mindset often focus on their competition, dwell on the successes of others, and close their doors to collaboration.
This limits their income-generating opportunities, keeps them where they are, and massively hinders business growth.
Again, they might not even realize they’re doing it.
What a Growth Mindset Looks Like
A growth mindset, on the other hand, inspires business owners and leaders to try, try again.
Just like that little engine.
She told herself over and over again that she could do it!
And you can do the same thing with your mindset.
Instead of seeing challenges as barriers, see them as new opportunities.
Instead of seeing talent as something people are born with, see it as attainable.
Instead of playing by the current rules of business, make new rules for growth.
Those with a growth mindset understand that their industries are always moving, changing and evolving.
Whether it’s coaching, writing, designing, accounting, sales…the rules of engagement are always morphing.
And those with a growth mindset are thinking, “Great, let’s do this.”
How a Growth Mindset Helps Your Hit Your Income Goals
So, how does a growth mindset help you reach $100K+ a year (and way beyond) in your business?
With a fixed mindset, you might say “I’m not making 100K each year.”
With a growth mindset, you’d say “I’m not making 100K each year yet”
That’s the biggest leap (and the hardest)…actually believing that you have the ability to reach the six- and seven-figure level with your business this year.
Because you do, believe me.
I’ve worked with 100s of business owners in a ridiculous number of industries, and the formula works the same across the board.
Knock down your belief barriers, and start thinking about what you can be doing differently right now.
Using a Growth Mindset to Reach Your Business Goals
1. Tackle the Fears That Are Holding You Back
Without first addressing your limiting beliefs about yourself and your performance, capabilities, talent, etc., you’re going to stay small and play it safe.
Your fears are like a bungee cord yanking you back to the current status quo again and again.
Do a self check-in…what fears to you have around growth?
That you’ll be embarrassed?
That you might not be perfect?
That you’re too young, or too old?
That you might experience (gasp!) failure?
Truly, you can not be successful in your business if you are letting your limiting beliefs hold you back from trying and failing (aka, learning from new mistakes)…no matter how amazing your services are.
Because mistakes = opportunities.
And calculated risks = business growth.
Read more about the emotional barriers that limit your business growth: How To Overcome Fear In Business As An Entrepreneur
2. Restructure Your Unique Offerings
This is so important: get away from charging hourly wherever possible.
When you trade your time for dollars, you’ll reach a ceiling that can only be surmounted by working ridiculous hours (no thanks) or raising your hourly rates. There are only so many hours in the day, and you’ll never be able to change more than hours x rate.
When you develop Premium Packages, however, not only do you have the ability scale your income, you’ll also shift the focus from the time you spend working (which your clients don’t really care about) to the high-value outcomes you provide (which they care very much about).
Think about how you can add, reframe, incentivize, and give value.
- What are the transformational results you can offer your clients?
- What are other ways in which can you eliminate your clients’ pain points?
- What are the big problems you are better than anyone else at solving?
Once you understand your clients’ big problems and the big outcomes they’re looking for, you can then focus on developing your Premium Packages that clients will pay a minimum of $3K – $10K because you are focused on the Big Solution they need.
If you’re ready for a crash course in creating your monthly Premium Packages, read How to Make $10,000 A Month (or More!) As An Entrepreneur
3. Invest In Your Business Growth
Your mindset, your strategies, your systems…they all take time to develop.
Educate yourself, do your research, and find a mentor or coach to help you discover what your roadblocks are.
Inevitably, there will be aspects of building a business that you just don’t know about because you haven’t done it before.
And because we don’t know what we don’t know, sometimes it’s hard to even identify why we are hitting a snag.
A coach (or several coaches) can help you identify what makes the most impact and what to avoid, so you end up wasting less time, energy, and money on trying to figure it out.
Glean knowledge from others, absorb their advice, learn from their experiences, and accept their honesty.
This takes time and, in some cases, money.
But think of it this way.
By investing now in learning the very best systems to grow your unique business, you’re saving a whole lot down the road.
An investment now can result in your business problems being solved quickly and forever.
So you can quickly move on to the next great thing…
A Growth Mindset Doesn’t Happen Overnight
You can have it, but you have to work for it. It takes regular exercises, self check-ins, and commitment to changing your belief system.
For most of us, this means shifting the way we understand ourselves, our potential, and our environment from a young age. It’s no small feat.
But If you want big results, you have to put in the time.
And leaping the hurdles to the $100K+ level this year is absolutely within your reach if you do the self work.
Once you start getting clear on what’s holding you back and how to market your services effectively, you’ll be able to start churning out high-value, premium-priced packages that save you time and grow your business.