Improving your mindset is a key step to increasing your chances of business success

 

Starting your own business requires a healthy amount of determination, courage and confidence, but sticking with your guns and keeping that business going requires even more determination, courage and confidence. There are a lot of real world obstacles to overcome, from financial worries to building up a reputation with your potential customers, but there are also the obstacles we set up for ourselves.

When it comes to running a business, you could be your own worst enemy. The wrong headspace can significantly impact your chances of turning your brand into a success, so here’s what you can do to improve your thinking and change your mindset. Let’s take a look.

Understand the basics

When you watch a film for the second time, you pick up on all sorts of details that you didn’t the first time around. Well, the same logic applies to business.

If you don’t take the time to get to grips with the foundations of your industry, you’re only going to make things harder for yourself and your business in the long run. Making a name for your business, requires you to take the time to learn, and sometimes relearn, the basics.

Set specific goals

Think about the kinds of questions people are likely to ask when you tell them you have your own business. Namely: what are your goals? You need to have a specific answer to this ready.

It’s not enough to simply want to ‘make a profit’ or ‘be successful’. You need to have set goals in place which you can actively work towards. These goals act as stepping stones on your road to success, helping you know if you’re on the right track. Without them, you’re more likely to feel demotivated and aimless.

Learn from others

Nobody gets anywhere without a bit of help and support, so don’t let your pride get in the way of progress. Many people suffer from the idea that success is only valid if you get there all by yourself with no help, but by thinking this you’re only making things more difficult than they need to be. Even the greatest business minds speak openly about the help they received from mentors when they first started out, including the likes of Bill Gates and Oprah Winfrey. Reach out to anyone you know who’s been on a similar journey and pick their brain.

Think for yourself

Being a people pleaser isn’t an inherently bad thing. Wanting to satisfy those around you is a good trait to have, but don’t let the opinions of others overshadow what’s best for you and your business. No matter what you do, you will never please everyone, so be dissuaded from taking a course of action which feels right to you.

Master time management

Ask any entrepreneur what the most valuable currency is, and the vast majority of them will say time. Once you start to find success, it will feel like there simply aren’t enough hours in the day. And while it’s good to be busy, it puts added pressure on you to manage your time effectively. Create regular to-do lists. Ask yourself which tasks are top priority and which can afford to fall down the pecking order. And, of course, don’t be afraid to delegate and outsource.

Never think you know it all

A common pitfall that entrepreneurs fall into is, after a certain amount of time and success, assuming they’ve got everything sussed. You might feel like you’ve learnt everything there is to know about your business, but the world of business itself is constantly changing, and you have to stay on top of these changes in order to evolve and grow. Keep your mind open to new information, even if you’re a veteran in your field, because no one is above discovering something new.

 

Need help taking your business to the next level? TEDCO Business Support is there for you. Get in touch with our team today for help, advice and guidance by calling 0191 516 61 02. You can also drop us an email at hello@tedco.org.

What we offer

TEDCO offers one-on-one support provided by a dedicated team of business advisors and a range of pre start seminars available to clients who are taking the first steps into self-employment. This could be looking at an initial idea and developing it further, looking at how to start a business plan, business competitors, business marketing.

Are you eligible?

If you are looking to start and grow a business we’d love to hear from you. Our friendly team of experienced Business Advisors are on hand to take your call to discuss the support available.

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