While a limited mindset can wreak havoc with the flow of positive energy and so the success of your business, it can also have a negative effect in a more tangible way. In particular, in the three ways that are listed below. That means to achieve the success you deserve with your company you need to check whether any of these blocks are in play and clear them by the following advice.
Is the way you think about things harming your business?
Expand your market
One issue that a limited mindset can cause in business is when trying to expand the market for your product. This is something that can be partially problematic if you have been involved in the design and creation of the product you are selling.
The reasons for this is that it’s likely you had a very distinct idea of the people you were creating it for in your mind when you were coming up with and developing the idea. That means you can be far too close to a product to have the objectivity needed to see opportunities in other markets that you could expand into.
To deal with this, pick one of two options. The first is to disengage with the product and business for a short time, perhaps taking a break and deliberately not ruminating over the issue. The idea behind this being that you can return afterward with a refreshed mind more capable of seeing the wood and the trees in terms of the other possible market out there.
The second opinion is to recruit others to help you with this issue, as even if you are a one-person- band, it’s likely that you have people in your life that know a little about the business but aren’t as close to it as you are. Then all you then need to do is ask them to brainstorm the types of people that could find your product useful that you are not currently marketing it to and work from there. Perhaps following this up with some market research to confirm the hunches.
Seeking funding
A limited mindset can be so damaging when developing your own business as it can even prevent you getting your idea off the ground if it interferes with how you seek funding. After all, no business will be able to startup if there is no funding for materials, equipment and resources. However many people still insist on only exploring the more traditional funding routes and stopping dead if they are not awarded the financial help that they need when pursuing these.
Luckily, there are quite a few alternatives out there in addition to just approaching your bank for a business loan that can get you set up and ready to go in no time. One such option is to consider something like this Merchant Money’s cash advance for UK businesses as a funding source. Not only is a super fast way to get the money you need to start things off, but you are also able to pay back what you owe at a place that you dictate. Something that can make repayment in the early stages of a business startup, where there are no profits coming in, much more reasonable.
The second option is to approach a peer to peer lending agency. Receiving funding from them is different from dealing with a bank because they often offer low-interest rates and super quick turnarounds on decisions. Something that can be incredibly helpful if you need to get started with no time to spare.
Stopping you collaborating with people
Lastly, you need to consider whether a limited mindset is blocking you from collaborating with other creatives and businesses and growing your brand in that way? If you find that it is, the first thing is not to panic! In fact, it’s very natural to feel wary of competitors in the field and protective of the ideas and business you have worked so hard to set up.
However, it is worth noting that isolating yourself within your market can do more harm than good. In fact, collaborating with a well-known name can associate you with the trust and quality they have established, as well as get your brand in front of a much wider audience.
Something that definitely means you have more to gain by doing this than by insisting that you go it alone. After all, you don’t have to play a zero-sum game to succeed, so why not maneuver into a situation in which both you and the company you are collaborating with both benefit?
