Last post I reminded you about my last blog series that outlined the “Five Mindset Traps of an Entrepreneur”.  In this new series, I’m going to share some strategies to break free of these pesky little patterns that can be standing between you and your success.

If you are a business owner who has not yet delegated or still struggles with figuring out how to better leverage your time by having a team, you may be suffering from mindset block #1 which is the I have to do it all myself syndrome. How would you know if this is you? See if you related to any of these statements –

“No one could do it as good as I can”
“I’m not comfortable asking for help”
“I couldn’t trust someone”
“I should be able to handle it all”

Many of us struggle with this concept and the cost is really high. The first thing I do with a business owner is to look at where they are wasting their precious time by doing things that would be better outsourced. There is the tactical piece of “How do I do this” but mostly, the place it breaks down for people is when they have the mindset block of having to do it all themselves. Very often this comes from family messages and early training about not giving permission to be vulnerable or receive support.

The first step is to make an assessment about where you are in this area. If you haven’t yet mastered delegating and outsourcing (or just reaching out for support/encouragement), is it that you don’t know how or could it be a mindset block?

If you push past the first sentences and find what’s on the other side, you’ll discover the golden nugget. For example, if you relate to the sentence, “I’m not comfortable asking for help” take it the next step further and ask yourself why. Would you feel stupid? Would you lose credibility? People think you are less than or too needy? What’s the story under that? If you unravel the story that’s usually unconscious or not quite in your reach, you can finally ask the magical question…Is It True? Once you look at it from this perspective, you can begin to chip away at the old belief/block so you have freedom to make a new choice. To further this questioning process, look into the work of Byron Katie at www.thework.com. She’s got a quick way to turn your erroneous thinking around. On her site got to the Do the Work section and get started taking back your power.

Next post, we’ll journey together into how to blast through Trap 2.  You’ll be surprised how some simple shifts can really make a big difference.

Blessings,
Therese

Last post I described an all-too-common scenario. A fellow business owner spent a fortune on the “necessities” of building her business (website, branding, top-level coaching, etc.) only to be frustrated because she had not dealt with the mindset issues that were holding her back.

Here are 2 of 5 Entrepreneurial Mindset Traps you must overcome to enjoy the success you’re looking for in your business.

#1 – I have to do it all myself
Raise your hand if you are a first born child. For most of us (me included) the role of being first born makes us the natural choice to be at risk for this mindset trap. If you have ever refused help, hated to ask for support, or just were frozen at the idea of you not being in charge of everything, you qualify. It’s pretty standard in the entrepreneurial psyche by now, but Michael Gerber in his classic book EMyth Revisited tells of the three roles that a business has to have in order to run – the technician, the manager, and the entrepreneur. Often in start up phase we are all things because there is no cash flow. But if you are a few years into your business and still doing your own books, we have to talk!

Let me give you an example. I was at an event where the keynote speaker sat next to me and shared that on Sundays she always did her bookkeeping. Here she was positioning herself as a rock star in her area, but had huge trust and delegation issues, so took the whole day on Sunday to do something that she could have outsourced easily. On stage she was selling $25,000 programs, but I could see huge reasons why her business didn’t work (nor her sales) because of this pattern of having to do it all herself. For me her presentation was an integrity disconnect because she was teaching people how to be powerful in one area, but in her own business she was defaulting to some old patterns. (And again, no judgment here because we all have some of this.)

#2 – People won’t pay higher fees

This is a revenue killer. It happens when a business owner is well meaning and tends to look at a prospective clients financial situation and decides for them what they can do and cannot do. Part of it is from a place of compassion, but it may come from poor boundaries, care-taking, or even the reality that YOU wouldn’t pay higher fees. It also could come by not having a clearly defined niche because if you are working right, your people will pay for what you offer. Good marketing, clarity on your value and who you serve best are the key here, but until you get this, the cost of this mindset trap is that you are under charging, under earning, or possibly working with people who aren’t your idea market because of the fee structure. The truth is that while the economy is sluggish, there are lots of people still spending lots of money! In a few weeks, I’ll show you how to shift your mindset to start getting more comfortable asking for your slice of the pie.

Do these sound familiar?  Keep an eye out for my next post where I’ll share the final 3 Traps.

Blessings,

Therese