Common Limiting Beliefs Entrepreneurs Have
As Henry Ford would say, “Whether you think you can, or you think you can’t – you’re right,” and many seasoned entrepreneurs would agree. What you find out after running through your own set of challenges and climbing your assigned mountains, is that having the right mindset is right up there along with every other skill you need. The thing is, many entrepreneurs start thinking that all they need are business goals, a strategy, a plan and a target market, but forget about this key point, and how limiting beliefs can hinder success. Here we are going to go through some common limiting beliefs that entrepreneurs have that can hold them back, and how to eliminate them.
Limiting beliefs are misconceptions we have acquired at a certain point in our lives that keep us from making progress. They stifle our actions and make us set ourselves up for failure, sabotaging our efforts without us even noticing. This is why it is important to learn how to identify limiting beliefs and replace them with empowering ones.
How To Identify Limiting Beliefs
Below is a limiting belief list to help you identify if you have any of these right now holding you back from your greatness. Go through each one and ask yourself if this is something that resonates with you – and if so, read on to why you should consider tossing them out to open up your path to success.
1 – You need a lot of money to start a business
I used to believe this, but at the time I didn’t know how many options were out there. To be fair, at the time there were not as many options as today, but I definitely didn’t know a lot anyway. I assumed I had to have a physical location, or buy a franchise, all extremely costly startup models. Nowadays, you can open an online store and sell Print on Demand products (that you only get charged for when you make a sale) with a very low startup cost. There are so many options out there it’s even hard to choose from. You need to come in with your interests and skills and see what model fits best for you. But you definitely do not need a lot of money nowadays to start a business!
2 – You need to be an expert to start
That is another misconception many beginners have. You don’t need to be an expert, but you need to be willing to learn more every day and to teach it to those who know less than you – if you are in a coaching business, for example. And you can also learn a lot as you go. The important thing is to not waste time waiting for the perfect amount of information to be consumed, to start taking action. Taking action helps bring clarity! And is the best way to learn. So start as soon as you can, baby steps if it’s what you can, but take one step today towards your dream!
3 – You need to wait for a better economy/government/etc
Any external circumstances are not an excuse to not have a thriving business, as long as you look in the right places. There is always a need to be met, and people willing to buy products and services. Figure out what is the need, solve it and you have a business.
4 – It will take a long time
And it may, or may not. But if you don’t start today, where will you be in 10 years? You could continue doing what you are doing and getting the same results, or invest in your dream business and be somewhere so much better 10 years from now. Not only financially, but doing something you really enjoy, that you have created. Is it worth investing your time on this?
5 – Comparing your journey with others’
Maybe you are trying to get your business off the ground, and when you see Kate or Peter getting the results you want but don’t yet have, you feel deflated. You feel it’s unfair, how come they have what you want and you don’t? And frustration, discouragement and overwhelm take over. We have all been there. Just remember: their journey is different from yours, it didn’t start the same, or at the same time, or with the same resources you have. Instead of feeling jealous, celebrate other’s victories and notice how they give you evidence that what you want is achievable.
6 – I am not worthy/deserving of all the success I desire
This is a very common one, although it is sometimes not easy to admit. Once you do a little soul digging, though, you may realize it is an example of one of your limiting beliefs. This one usually comes about after we internalized something we heard or were taught in our childhood, and it grew roots deep in our subconsciousness. Please know you are worthy, say that to yourself every day, treat yourself accordingly until you eliminate the feeling of unworthiness from the roots of your brain. You deserve much more than this.
7 – I’m not smart enough
You do not need to go far to break this one down – there are so many examples of successful entrepreneurs who aren’t that smart out there. They acknowledge it themselves. I can’t tell you how many times I’ve heard someone with a successful business say: “If I could do it, so can you!”. They didn’t think so much of themselves either but didn’t let that stop them.
Focus on your goals and appreciate the good things you have going for you right now. Practicing gratitude is actually a powerful tool to get your mindset to a higher vibration level. When you want something so bad and you can’t yet see it in your physical reality, focusing on its absence only makes it even harder to achieve.
As we say here frequently, what you focus on, expands. So, if you focus on what is missing from your life, you will strengthen the energy around that lack and increase the resistance to receive it. It sounds counterintuitive, but the secret is to have faith you will achieve the results you want, and let go. Let go does not mean you won’t take any action towards it (and I struggled with this concept), it just means you stop obsessing about the absence of the physical evidence of it in your life.
If you are getting overwhelmed, go take a break. Go do something you enjoy doing. If you are discouraged, search for inspiration from your favorite role-models, read a book, listen to a podcast. Then get back to taking inspired action. It pays to take care of and nurture your mindset.
