"When you defend your limitations you get to keep them" Jim Kwik

Starting a new business is an exciting endeavour that requires courage, dedication, and a willingness to take risks. However, many people hold themselves back from pursuing their dreams of entrepreneurship because of limiting beliefs and debilitating fears. 

Here we'll explore how to overcome those limiting beliefs and fears so that you can confidently take the necessary risks to start and grow a successful business with a clear conscience and enthusiasm.

6 Ways of Overcoming Limiting beliefs in Business

1. Understanding Limiting Beliefs

Before we can learn how to overcome limiting beliefs, we must first understand what they are. 

Limiting beliefs are negative thoughts or beliefs that hold us back from achieving our goals. 

They often stem from past experiences or external influences and can be deeply ingrained in our subconscious minds.

Some common limiting beliefs that people have about starting a new business include:

• "I don't have enough money to start a business"
• "I don't have enough experience"
• "I'm not smart enough to run a business"
• "I'm too old/young to start a business"
• "I don't have enough time to start a business"
• "I'm not good with technology"
• "I'm scared of what people will say if I fail"

These beliefs can be paralyzing and prevent us from taking the necessary risks to achieve our goals. The good news is that with the right mindset and tools, we can overcome these limiting beliefs and achieve success.

2. Developing an Entrepreneurial Mindset

The first step to overcoming limiting beliefs is to develop an entrepreneurial mindset. This mindset involves shifting your focus from fear and self-doubt to opportunity and growth. Some key elements of an entrepreneurial mindset include:

Risk-taking mindset

Entrepreneurs must be willing to take calculated risks and make bold decisions with confidence. They don't fear failure as they understand it is a natural part of the process and use it as a learning opportunity.

Growth mindset

There are basically two mindsets: Fixed and Growth. Having a growth mindset means believing that your abilities and intelligence can be developed through hard work, dedication and a willingness to change. This mindset allows you to approach challenges with a positive attitude and a willingness to learn.

People with a fixed mindset believe you either have talent or you don't. To them change is an unsurmountable hurdle. Such people tend to be jealous of other people's success and give up easily if they find something difficult when they first try  

Positive self-talk

We all talk to ourselves all the time whether we are awake or asleep. Sometimes this is subconscious so we are not aware of it. If your self-talk is negative and you put yourself down constantly you find it almost impossible to achieve your goals.

Positive self-talk is a powerful tool for overcoming limiting beliefs. It involves replacing negative thoughts with positive affirmations that reinforce your confidence, self-esteem and belief in yourself.

Resilience

Resilience is the ability to bounce back from setbacks and persevere in the face of adversity. It's an essential quality for entrepreneurs who must navigate the ups and downs of starting a new business, especially the first time around.

Having resilience means you will fall down 8 times, but get up 9. It means there will be little negative effect on your performance as a result of the hurdles and challenges you will meet on a daily basis while running your business. By developing these qualities, you can cultivate an entrepreneurial mindset that will help you overcome your fears and confidently take the necessary steps to keep your business growth on track.

3. Overcoming Fear of Failure

One of the most significant limiting beliefs that entrepreneurs face is the fear of failure. This fear can be paralyzing and prevent you from even taking the the first actions to get your business started. You become stuck in overthinking mode. Here are some tips for overcoming the fear of failure:

• Reframe failure as a learning opportunity. Don't beat yourself up. Learn something from each failure knowing the experience will make you do better the next time.
• Focus on your strengths and achievements. All too often we concentrate on what we can't do or find difficult and this prevents us from making progress.
• Visualize your success. If you imagine you are successfully already achieving the results you want you will maintain a clearer vision of what your purpose is and what your ultimate outcome will be.
• Take small steps towards your goals. Break big goals down in to small well defined action steps so that you always see a clear path to achieving your ultimate goal.
• Practice self-compassion. Be nice to yourself, be patient and make your expectations of your performance realistic. Don't compare your chapter 1 with someone else's chapter 23. As long as you are growing and making progress you are bound to succeed with the right priorities.

By reframing your relationship with failure and practicing self-compassion, you can overcome the fear of failure and take the necessary risks to achieve success.

4. Setting Goals and Taking Massive Imperfect Action

Another essential element of overcoming limiting beliefs is setting clear goals and taking consistent sustained action. Here are some tips for setting effective goals:

Goal setting

Effective goal setting involves creating specific, measurable, achievable, relevant, and time-bound (SMART) goals that align with your vision and values. Vague goals will be like New Years resolutions they will come to nothing. Making a goal time bound means setting a deadline for it completion and scheduling the action steps in your calendar.

Take calculated risks

Taking calculated risks involves weighing the potential rewards against the potential risks and making informed decisions. 

But don't overthink and be overcautious on everything. Concern yourself only with the actions that will truly have dire consequences if the risk is too high. 

Action-oriented mindset

An action-oriented mindset involves taking consistent and purposeful action towards your goals. This mindset helps you overcome procrastination and self-doubt. 

Don't overthink things and fear taking massive imperfect action. Done is better than perfect. That's the only way you make progress.

By setting clear, measurable goals and taking action towards them, you can build momentum and overcome the limiting beliefs that hold you back from achieving success. For this reason you must measure your progress and carefully review your goals every week or more frequently if necessary. Always plan your week ahead. 

5. Cultivating Mindfulness

Developing mindfulness is a crucial technique to overcome limiting beliefs and fears. It entails being completely present and conscious of your thoughts, emotions, and environment. To cultivate mindfulness, you can try the following suggestions: practice deep breathing or meditation, take frequent breaks during the day to reset your focus, maintain a positive outlook and practice gratitude, and surround yourself with affirmative influences. 

When you develop mindfulness, you increase your self-awareness and minimize the influence of limiting beliefs and fears on your decision-making.

6. Building a Support System

It is essential to build a support system to overcome limiting beliefs and fears when starting a new business. This journey can be tough and lonely, but having a support system can provide the necessary encouragement and guidance when required. One can join a business networking group, attend industry conferences and events, seek mentorship from experienced entrepreneurs, and surround themselves with positive and supportive friends and family to build this system. By doing so, you can utilize the experience and knowledge of others to succeed and overcome any limiting beliefs.

Conclusion

Starting a new business is an exciting and challenging journey that requires courage, dedication, and a willingness to take risks. However, many people hold themselves back from pursuing their dreams of entrepreneurship because of limiting beliefs and fears. By developing an entrepreneurial mindset, overcoming the fear of failure, setting clear goals and taking action, cultivating mindfulness, and building a support system, you can overcome these obstacles and achieve success.

If you're struggling with limiting beliefs or fears around starting a new business, we invite you to reach out to us at +1(609)-937 9002 or [email protected]. 

Our transformational coaching and business experience will provide the guidance and support you need to overcome obstacles, build confidence and achieve your goals.

IT'S TIME FOR MEANINGFUL CHANGE