How Your Personal Life Can Ruin Your Business
How Your Personal Life Can Ruin Your Business
Damaging mindset hurdles you may not be aware of.
Devn
I’m a strong believer in the need for personal growth in order to hit your biggest business goals. I’ve seen time and time again that it’s impossible to overcome recurring, mental business hurdles unless you take a deep look at who’s at the helm.
If you’ve been curious about this topic, but not quite sure how to start this conversation with yourself, let’s take a look at the most common personal hurdles that keep your business small.
Good Product or Service
Do you take constructive criticism well? Or do you become wrapped up in its reflection on you and swim in the belief that you must have done something wrong if your product isn’t perfect?
If you often find yourself avoiding opportunities for feedback, this should be a note to self that this is an inner block.
Honest, raw feedback from your customers is what leads to that turnkey solution that absolutely turns your product into a delightful one.
If you only chase the obvious product flaws, you’re scratching the bare minimum of your absolute best.
Operations and Productivity
It’s really hard to trust others to do work that you can do yourself in the style and way that you like.
You think it’s a waste of time to explain something that you can easily do yourself in that same span of time — so that’s what you do. You work 12-hour days pretty much doing all the things you know you can tackle yourself.
If you’re spending 2 hours a day creating social media content and engaging with your audience for your brand, you’ve thrown away 2 hours you could’ve spent directly increasing your sales or making CEO-level moves on your business.
By entertaining work that an associate can do, you rob your business of having a CEO at the helm who’s doing as much CEO work as possible.
A DIY mindset usually flips its usefulness very quickly — it’s very necessary for the beginning of your journey, but as soon as you’re bringing in some revenue and are on the path of seriously trying to prove that you can go full-time with the business, DIYing everything will kill your business.
Money
This is the big kahuna right here.
A lot of entrepreneurs struggle with some form of money mindset. Whether it’s a desire to control money, worrying over not having enough of it, overspending money — money is at the forefront of many minds especially when you’re solely responsible for making a lot of it for your business.
This is why money mindset isn’t an ignorable topic for many entrepreneurs on the start of their journey.
In order to make money, and a lot of it — you need to understand how money makes you feel a little too small or big, and how that affects your spending habits and your ability to go after big paydays.
If you’re someone who grew up without much money, you’re going to be ecstatic when you make your first $10K. However, if your product or service is worth much more than that, you’ll create a self-imposed ceiling because you haven’t developed the awareness that it’s an issue.
Having low money worth can result in you leaving money at the table. You’ll also be privy to bad negotiations where you undersell yourself and entertain constant discounts that you shouldn’t be giving away.
On the flip, someone who’s a little too comfortable with money can introduce irresponsible spending habits where they’re dropping cash on superfluous purchases when they should instead, be putting that money away into a profit account.
In short, a misaligned money mindset can punch a business in its finances, right where it really counts.
Getting clear on where you stand when it comes to your money mindset and what you can improve for the benefit of your business is a key move that needs to come early in your business.
Do you have a healthy business or does it need a tune-up? Grab my free checklist to find out.