People generally think that businesses fail because they lack good planning and smart strategies. This is not necessarily the case. Impressive strategies and brilliant ideas often fail to occur because the business owner never had the correct mindset. According to a study published on Oxford Academic, our emotional state and mindset affect all our decisions so a poor mindset leads to poor strategies. Therefore, mindset should be the first thing to work on and improve whenever someone thinks of launching a business idea. When a business starts with the right mindset, the product and services offered are focused on the customer. The people hired, advertising copy, resulting customer satisfaction are all a result of the right mindset creating a truly valuable business.
So, what happens when mindset is not optimized? Some drawbacks:
- You give up too easily
You expect instant success and feel like a failure once you meet setbacks. Every business has its problems and it’s by solving these problems that you earn a profit above the standard employee’s salary.
- You always try to be right
While the first point may cause some readers to feel like they should always argue their point because that means they’re not giving up, it’s also crucial to assess how important that is. If it’s not important, let it go. Focus your energy in the right places.
- Poor product or service quality
If a business owner’s mindset is only focused on enriching his or her own bank account, then product/service quality will typically be compromised. This is because every dollar saved serving the customer is a dollar that the business earns. This is not to say that the business should not earn anything, but there is a threshold to be met.
Serious business owners have to start working on their mindset today. Again, it’s poor mindset that will lead someone to procrastinate. Change does not occur overnight and the earlier you start, the more time you have. There are many books on mindset but one that has been published recently is Septemics which can be purchased on Amazon.
The author, Jim Marshall, is an expert in multiple disciplines ranging from psychology and philosophy to mathematics and history, amongst other things. What he has done is to condense his 50,000+ hours of research on various dimensions of human potential and development and put them into a book.