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9 Poisonous Thoughts That Hinder Your Success

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9 Poisonous Thoughts That Hinder Your Success As A New Entrepreneur

Being a new entrepreneur can be daunting sometimes, with so much to learn and do, as well as the scary prospect of convincing others to pay for something that you haven’t charged for before.

What may come as a surprise though is that your mindset while starting the entrepreneurship journey is just as important as the other skills that you’ll need to learn. It’s important to be aware of some thinking patterns that you’ll need to fight and curb in your efforts to get off the ground successfully.

Look out for these 9 common poisonous thoughts that will try and derail you:

 

1. I’m not good enough

This is a limiting belief common to many many people. At the root of many of our fears and inability to act on our dreams is this belief that we are not good enough. If you remember that most other people are thinking the same thing, it can help you to make a choice to ignore those thoughts and get on with it anyway. Step out and take action. The more you do, the more you’ll actually learn (even through making mistakes), and the better you’ll become at what you do.

You have to just start – like everyone else who succeeded before you. At some point they had to make the decision to just start. So when you find yourself thinking that you’re not good enough to start a business, take the steps you planned that day regardless, and continue as if the thought never occurred.

 

2. The competition is much better than me and so no one would choose my product or service

The great thing about the presence of competition is that it means that there is demand for your product or service – it’s a good sign that the marketplace has decided that there is a need for what you provide!

Even if many customers like your competition, there will be others who are attracted to what you offer and your unique take on what it is you do. Some will relate better to you and what you represent than they do to the competition. So don’t let this put you off.

“Do not overestimate the competition and underestimate yourself. You are better than you think.” – Timothy Ferriss

3. I’ll never ‘get there’

Yes you will and you can. Persistence always beats talent long term. Think of the hare and the tortoise – the classic tale of how slow, steady, but persistent action won out in the end! You can start out with less talent than someone else in your field, and with persistence you will overtake them eventually.

 

4. It’s too hard

Now I’m not going to lie to you and tell you that it’s not hard. It is. But so is not reaching for your dreams. In fact, it’s much harder – because of the pain of regret and the pain of not enjoying the many benefits that come from doing what you’re meant to be doing and doing it well.

Just trying causes growth in you as a person, and for that alone it’s entirely worth it. You will never know what you could have accomplished if you hadn’t tried.

 

5. If I was going to succeed, I would have succeeded already. It’s too late for me

There are so many examples of successful people who found success ‘later in life’. By the time they achieved their dreams, they were older (yes), but also wiser, less concerned about what people were thinking of them, and they knew themselves better. They had also come to a great place of understanding what they truly valued. Colonel Sanders, the man who sold his ‘Kentucky Fried Chicken’ recipe and franchise rights for $2 million was broke at 65. But he got up from defeat again and through determination and hard work, succeeded in selling his fried chicken recipe – and the KFC franchise business is a household name to this day.

 

6. I don’t have enough experience/knowledge/talent to succeed

Everyone has to start somewhere. Just focus on being better than the people you’re trying to help. There will always be someone who is better than you at what you do (and #1 expert status can be subjective anyway- how to do you measure it? Is it by the number of sales? Is it by the quality of service, again which is subjective? By the number of happy customers? Or by revenue earned?).

There will always be people who don’t know what you know and have less experience than you and can benefit from your help and what you have to offer.

 

7. I’m not the kind of person who succeeds

What kind of person is that? Successful people come in all shapes and sizes and in every personality type you could summon up a list of Myers Briggs personality types! Amongst successful people, there is also no commonality between the backgrounds, education, connections or good looks they possessed before becoming successful. Think about it – you’ll even find that there are many successful, famous actors and actresses who are not conventionally good looking.

The primary difference between successful and unsuccessful people is the way they think. Which is why that is, along with your business skills, one very important part of your personal development that you can continue to work on.

 

8. What would my friends think?

You’ve got to take your friends out of the equation entirely. If they are not entrepreneurs themselves, then in all likelihood they will understand very little of what you are going through anyway. So their opinion, regardless of what it is, doesn’t actually hold any value when it comes to helping you succeed as a new entrepreneur. You don’t want their advice – you’ll want advice from someone else who has been on that journey and can encourage you along the way.

So, in short, to answer the question of ‘What would my friends think?’ – the answer is: ‘Who cares?’ . They are no doubt wonderful people who you enjoy spending time with and care about, but with regard to entrepreneurship, what they think is really not relevant or important to your success.

 

9. There’s too much to do and I’ll never get it all done

There is a lot to do as an entrepreneur, true, but how we think about it is really important. If you focus on empowering thoughts such as, ‘How can I get it all done?’, your brain will actually go to work to find the solutions for you. And one step at a time, you will get it done.

“The secret of getting ahead is getting started” – Mark Twain

Here’s to your incredible success as an entrepreneur! Thank you for reading my article!

Sue Sundstrom is passionate about helping you create the work and life you were meant for. She helps entrepreneurs overcome overwhelm by finding clarity, focus and productive solutions. She blogs on mindset, productivity, relationships and more at www.suesundstrom.com; You can find her on twitter @suesundstrom.

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11 Comments

11 Comments

  1. My 67 Steps Review

    Oct 26, 2015 at 5:00 am

    This is great. It’s so hard to get these thoughts out of your head. Meditation has helped me a lot. When I discovered that I don’t need to be a “master” at anything before I can teach, it really freed me up to start manifesting what I have always wanted to do.

  2. Hardik panchal

    Aug 7, 2015 at 2:02 pm

    Ya. All of the above are true reasons which hinder our Success. For thoroughly. One if we work for excellent than i think no need to run behind Success. Actually its my personal thought. And way think you

  3. Timo Fischer

    Aug 1, 2015 at 9:46 am

    Definitely had some of those thoughts a while ago, glad that I got rid of them! Through meditation and just deciding to think more positively it’s a choice that you have to make.

  4. Laiza King

    Jul 29, 2015 at 11:19 am

    Number 1 is definitely one thought that hinders alot of people and stops dreams right on their tracks. Thank God I’ve been able to overcome that and I realized that getting passed that venom has helped me become a better person and chase my greatness. Thank you so much for this article.

    • Sue Sundstrom

      Jul 29, 2015 at 4:23 pm

      Thanks for your comment Laiza, so glad you enjoyed the article. Great to hear you’ve overcome #1 – it is a very big one and often needs ongoing changing in our thinking.

  5. Dotchamou Zakari

    Jul 28, 2015 at 6:06 pm

    Hello, thank you for your wisdom. Being an entrepreneur requires that we totally change our habits and thoughts. By reading your post I can see that you enter in the mind of people who faile as businessmen and you help start up to learn from errors of mindset.
    I want to share these two quotes with the reader of this post
    “Chase the vision, not the money, the money will end up following you.” —Tony Hsieh, Zappos CEO

    “The most dangerous poison is the feeling of achievement. The antidote is to every evening think what can be done better tomorrow.” —Ingvar Kamprad, IKEA founder

    • Sue Sundstrom

      Jul 28, 2015 at 6:35 pm

      Thanks for the comments Dotchamou – you’re right, this article is born out of entering into the minds of some of the people I’ve coached who had limiting beliefs and it’s also born out of thinking I’ve had to break out of. I’m passionate about this area – how we can challenge and change our thinking 🙂

  6. Ethan Bridges

    Jul 28, 2015 at 5:53 am

    What Axel said.

    If I’d pick one, it’d be #7 (I’m not the kind of person who succeeds). This is simple, but it could mean someone’s future. I actually heard my Dad say that ultra-success happens to … “those kinds of people.” We’re doing fine, but it just struck me that a limiting belief existed. It only means we can do better than what is happening now. What’s worse is those who hear that statement gets to believe it, without realizing that it’s total nonsense.

    • Sue Sundstrom

      Jul 28, 2015 at 6:32 pm

      Hi Ethan, thank you for your comment! I think #7 is common to a lot of people – we attribute some special, mythical aura that ‘those people who succeed’ have, which is just not true at all. They had to work hard & persist & keep going beyond their self-doubt just like everyone else!

  7. Axel Page

    Jul 28, 2015 at 12:59 am

    #8 is very dangerous and is part of the broader issue of people who always compare themselves to their peers, and more importantly, cares too much what others think. Once you become free of outside opinion, you are truly liberated to achieve your goals and desires.

    • Sue Sundstrom

      Jul 28, 2015 at 6:30 pm

      Hi Axel, I agree, worrying about what others think stops many people from acting in line with what they really want to do (and are talented at doing)…thanks for your comment

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Entrepreneurs

What if Elon Musk Ran Your Business? 4 Lessons From the Real Life Iron Man

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The story of Iron man and Elon Musk starts when Robert Downey Jr. visited SpaceX headquarters miles away from the setting of the first Iron Man movie back in 2007. The actor was inspired to base his character on Elon Musk’s personality. Ashlee Vance writes in Elon’s biographyboth Musk and Stark were the type of men, according to Downey, who ‘had seized an idea to live by and something to dedicate themselves to’ and were not going to waste a moment.” (more…)

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5 Ways to Prepare for Your Entrepreneurial Journey

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There are many ways to get ready for entrepreneurship regardless of whether you’re ready or not. The migration to the unknown will take you through many places, emotions, and people. Your journey will be both easy and difficult, but hopefully in between, you prepare yourself with an expectation of helping people by solving problems. The quest that you are about to enter will be one to remember if you are willing to adapt quickly and not give up.

Arranging for this huge change in your life should be one of the most memorable expeditions that you will ever experience. Looking into the future and being able to lay out a road map for your entrepreneurial journey will definitely be beneficial. Though there will be challenges every step of the way, being prepared will help you achieve your goals more efficiently.

To help you get started, here are 5 ways to plan an entrepreneurial expedition:

1. Form Ideas By Visualizing And Writing Them Down

Before beginning your entrepreneurial quest, brainstorm to come up with many amazing ideas even if you never act upon each of them. It’s always a good thing to write them down on paper, computer or via a mobile device app such as Google Docs. An abundance of suggestions about your processes is better than none or even a few objectives that can possibly help in some way.

The key is to breakdown those ideas to come up with better solutions to move forward in your voyage. See what’s more in line with your mission and values to be effective for your core audience, products or services that you may want to create. Whether you categorize those ideas or check them off one by one, coming up with different concepts will be a great start to your journey.

“Creativity is contagious – pass it on.” – Albert Einstein

2. Begin A Pattern Of Consistency By Quitting Bad Habits

Repetitive actions can present their challenges but if there’s a way to make progress and eliminate bad habits that aren’t hindering your itinerary then keep doing them. Have you ever noticed that negative thoughts, lack of confidence, and no exercise regimen could negate persistence of not only your entrepreneurial journey but other goals as well?

Get your mojo or swagger back by committing to a life of constant and everlasting consistency by stopping eating bad foods, wasting your time with hours of playing video games, watching television and other things that will stall your progress. When you get rid of actions that are slowing down aspects of your life, you’ll begin to pursuing things to help you lay the groundwork for success.

3. Be Disciplined While Listening More

Another way to prepare for your entrepreneurial journey is by being in control of yourself while paying more attention to everything else. It’s quite common to focus on things outside of your realm and instantly become something other than what you see fit. Difficulties can arise if your focal point isn’t there and somehow an opportunity pass right by you.

Mentorship even from a distance from someone that you don’t know can be a key element as you learn the importance of your mission. Listening to podcasts and watching YouTube videos of someone that has validated your idea is a great starting point as well. Mimicking them on some level can help you understand different phases that are ahead and how to deal with them.

“Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.” – Henry Ford

4. Work Effortlessly And Prioritize Your Time

You will have to work extremely hard with an emphasis on actual time value before pursuing your pilgrimage. We often hear about the results of hard work and it sounds cliche but when many other things are happening outside of your control, finding a way to manage your time can become difficult.

Most people will start off alone with zero help in terms of having a partner and putting in 100% effort. You will likely wear multiple hats as the visionary, programmer, marketer, content creator and so on. You may have to function with only 3 or 4 hours of sleep or even none at times while being respectful and cognitive of the time of others as well.

5. Persist Like There’s No Tomorrow While Planning For The Future

What’s in you? Nobody knows the answer to that question but you and the determination for reaching your destination as an entrepreneur. Whatever the answer is, you should be driven with an undaunted passion to pursue your expedition. Go after your dreams with a tenacity that you didn’t know was within your soul and keep pushing no matter what.

Be mindful that your strong pursuit can be done all while determining the proper destination of where you want to eventually end up. Never lose your focus admist numerous distractions that will happen. The emphasis comes from experience along with talking to other entrepreneurs who had similar occurrences at multiple stages of the process.

Put in the work early with the mindset of expecting obstacles and pushing forward pass them.  It will be tedious and preparing for a grind will make your entrepreneurial journey more understandable through tough times. You will be a lot wiser and better after all of the hard work whether it’s considered a failure or success.

Which one of the above 5 ways to prepare for your entrepreneurial journey resonated most with you and why? Share your thoughts below!

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7 Things You Need to Do to Grow as an Entrepreneur

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Startups are on the rise and youngsters are keen to launch their own business instead of a nine-to-five job. As simple as it sounds, opening a business needs patience and the right planning. Moreover, the profits gained can help you meet your financial obligations and realize other dreams.

Young entrepreneurs must learn the skills of investing money within the right channels as most startups fail because of a shortage of funds. Every entrepreneur has a chance to innovate, create new jobs and have an influence on society. It’s our responsibility to continually grow and push forward, usually beyond our comfort zones.

Here are the seven must-learn tips to grow as an entrepreneur:

1. Read Books and Articles

For many new entrepreneurs, your first mentors are usually found in the pages of books and blogs. Much often learned from the writings of others, and fortunately these days, people are sharing their experiences. A survey found that 88% of the world’s wealthiest people read for a minimum of 30 minutes daily. By comparison, only 2% of the overall population reads this much daily.

Read chapters in books, and articles to get new ideas and skills. Some ideas might not be directly relevant to what you’re doing these days however, it could come helpful a year or so down the road.

My advice is to search out those leaders and writers who resonate with you. You’ll understand when you’ve hit on something when you find yourself returning to a book for answers and inspiration time and time again.

“Books give a soul to the universe, wings to the mind, flight to the imagination, and life to everything.” – Plato

2. Perform SWOT Analysis

Business students and old-school marketers should be very aware of mapping out SWOT Analysis charts (Strengths, Weaknesses, Opportunities, Threats). If you’ve never made a SWOT chart, write out the strengths, weaknesses, opportunities, and threats in four quadrants on a piece of paper.

In reality, you’ll jot down a couple of notes on the back of a cocktail napkin, however despite the simplicity, if done right, a SWOT will shed light on crucial areas that require improvement. Most significantly, don’t shy away from the truth. Dissecting your weaknesses isn’t fun however, no good comes from avoiding the fact.

3. Be Willing to Take Risks

It’s impossible to become an entrepreneur if you don’t take risks. Doesn’t matter how many times you’ve fallen. See how many times you stand-up. Being an Entrepreneur isn’t that easy; it’s an up-and-down game like a business. Be willing to come up with new plans even when old strategies are working. It’s through such risks that your business will grow. You’ll learn and meet new partners or investors. Even so, the risks must be calculated. Doing the analysis and making consultations is vital in this case.

4. Open Your Eyes Wide

Many opportunities are arising in the business world every day. For instance, many companies are willing to come up with a mobile solution for a startup without charging immoderate prices. This info can only be discovered if you’re keen.

Before dismissing adverts from websites and mainstream media, conclude if they’re relevant to your business. Also, follow the events happening in the stock market and international business summits. You’ll find the opportunities which will take your business to a new level.

Becoming successful as an entrepreneur is possible if you learn, take risks, evolve, innovate, and stay motivated. You must be realistic regarding your abilities and watch the events that unfold in your world.

5. Lead the Way for Your Team

Young entrepreneurs need to encourage employees and provide help at every juncture. For any young entrepreneur who aspires to be a leader it’s necessary to be:

  • Honest
  • Ambitious
  • Courage and Risk Taking
  • Dedicated
  • A Team-player
  • An effective listener
  • An effective communicator
  • Able to inspire confidence
  • Positive

An entrepreneur who has all the attributes of a leader leads the employees to productivity. It’s essential that the team respects a leader. The hunger and aspirations of the leader to strive for success inspire the employees to put in that extra effort to be successful.

“A leader is one who knows the way, goes the way, and shows the way.” – John C. Maxwell

6. Learn How to Keep Initial Success at Bay

Do not enjoy the shrubs of initial success for too long. Return to the drawing board and draw the future course of action. To move on to the next phase:

  • Utilize local and online channels to make hype for the services
  • Start expanding by hiring employees to enhance productivity
  • Cater to a good segment of the audience by providing various services
  • Re-invest the profitable revenue into new business efforts

Never let the initial success get to your head. The online platform is an ever-changing arena. Analyze what’s working and what new tactics can be utilized to strengthen the market base.

7. Find and Keep Business Partners

You will always go far if you have people to carry your hand during hardship in business. They’ll share ideas that have made them successful and provides you funds whenever necessary. Demonstrating that you are organized, capable, and serious is vital when nurturing such relationships. Keeping records, creating financial contributions to society, and attending forums are some of the choices worth trying.

Being an entrepreneur isn’t as easy as it looks. You’ll face many up-and-downs, risks, financial crisis, and many more. Be ready to face these problems if you want to be an entrepreneur. Entrepreneurship isn’t about making money, it’s about innovating new things and represent new concepts and ideas to the world.

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Transitioning From Employee to Entrepreneur? Try Intrapreneurship First

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Studies show that 15 million Americans are self-employed full-time and that an estimated 27 million Americans will transition from the traditional workforce to full-time entrepreneurship by 2020. Additionally, it is asserted that entrepreneurs are 125% more successful if they have previously been employed in the industry in which they presently do business. This is all great news on many levels.

Chances are, if you are reading this article, you are considering transitioning from employee to entrepreneur, or perhaps you have already made the shift. I get it. I am one of the millions who has made the switch – trading stability and comfort for passion and freedom. However, if you are a potential full-time entrepreneur, there are many things to consider before making the leap.

How will I support myself and my family in the initial stages of development? What do I do if I fail? How do I maintain the drive needed to make a business successful? How will my business harness the creativity and innovation required to thrive in the marketplace? These are all valid questions and should be considered deeply.

If only there were a training ground to test your management capabilities, gain knowledge, think innovatively and be solution-focused. But, wait, there is. Your current employment can offer these opportunities and more – through intrapreneurship.

By definition, an intrapreneur is an employee of a company who has adopted an entrepreneurial mindset. Intrapreneurs are highly motivated self-starters and innovative, solution-driven thought leaders, who work within an organization. Because of this definition, acting in an intrapreneurial capacity in your current place of employment makes a great deal of sense when considering the move to self-employment. You can use your current employment status as a testing ground for where you want to be.

Here are four reasons why intrapreneurship can work for you:

1. See a problem. Solve a problem

All businesses should be designed to fulfill a need. Just as your own business should be able to justify its existence in the marketplace, initiatives within an organization should do the same. Closely examine processes and products in your place of employment. Determine what could be executed more productively. Alternatively, design a new initiative to creatively meet and exceed customer expectations. Acting in this manner will prepare you for building the structure and mission of your own business.

2. Creatively capitalize on skills and talents gained outside your employer

In many instances, we separate business from personal, and there are many good reasons for this approach. However, there are notable skills and talents used in your personal life that are transferable to the workplace. For example, if you engage in team sports, use your team building skills and charisma to involve your colleagues in projects.

If you love to read fiction books, integrate the creativity of the stories to bend the thinking of traditional methods of operation. The possibilities are many. Business owners rely on all life experiences, directly or tangentially related, for the benefit of their enterprises.

3. Intrapreneurship is for all employment levels

If you think intrapreneurship is only for c-suite executives, think again. Intrapreneurship is for the mailroom to the boardroom. As noted in the definition, intrapreneurship is about being a self-starter. You do not need permission from anyone to be highly motivated. Just as all parts of our bodies have a function, so do all positions in an organization. Even if you feel your position has no purpose in your organization, make one. We all have to start somewhere in our entrepreneurial journeys, so start right now, where you are.

4. Experiencing failure is inevitable. Move forward anyway.

All of us will experience failure at some point and multiple times as well. Failure will happen regardless if you remain employed or set out on our own. Be bold enough to move forward with establishing your voice and your place anyway. Business and life are about forward movement. Decide now what next step you will take if you fail. There is always a path forward. Get used to the possibility of your ideas being rejected and your designs being flawed now, so when you are a full-time entrepreneur, you will know how to advance.

Whether you are at the infancy stages of developing your own business, currently self-employed or even wish to remain an employee, establishing yourself as an initiator and innovator can reap many benefits for you and your company. That is the beauty of it.

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