What is a Business Growth Mindset and Why is it Important?

Jessica Graiser
August 26, 2023
5 min read

What is a Business Growth Mindset and Why is it Important?

Introduction

A business growth mindset is an approach to business that emphasizes continuous learning, creativity, and resilience, with a focus on expanding and improving the business over time. In this article, we will discuss the importance of adopting this mindset, why it’s critical for health coaches starting a new business, and how to overcome limiting beliefs that will inevitably sneak in! Here we go!

What is a business growth mindset?

A person with a growth mindset believes that their skills and abilities can be developed through dedication and hard work, and they embrace challenges as opportunities for growth. They are open to new ideas, seek out feedback, and are not deterred by setbacks. In a business context, having a growth mindset means being willing to take risks, experiment with new strategies, and adapt to changing circumstances. It involves setting ambitious goals and striving to achieve them, even if it means stepping outside of your comfort zone. It also means focusing on the long-term success of the business, rather than short-term gains or avoiding failure.

Overall, a business growth mindset is a positive and proactive approach to business that encourages innovation, creativity, and continuous improvement. It is essential for entrepreneurs and business leaders who want to succeed in today's fast-paced and rapidly changing business environment.  Let’s be clear, this sounds simple, but don’t be fooled.  Creating and practicing this type of mindset takes dedication and perseverance.  The good news?  Everyone can get here if the work is put in!

Why is having a business growth mindset important for solo-entrepreneurs? (AKA you.  The new business owner!)

Having a business growth mindset is especially important for you because you are often faced with a variety of challenges and uncertainties.  Take a look at how this specific mindset can make these challenges easier to tackle.

  • Encourages Innovation: You will begin to think outside the box and come up with innovative solutions to the problems you face. This can lead to new products or services, improved processes, and a competitive edge in the marketplace.
  • Increases Resilience: YESSS!! Starting a new business can be tough, and you are likely to face setbacks and failures along the way (happens to all of us).  A growth mindset helps you to stay resilient and bounce back from these challenges, learning from your mistakes and trying again with renewed energy and determination.
  • Fosters Continuous Learning: This mindset fosters the ability for you to see every experience as an opportunity to learn and grow. You will begin to seek out feedback, are open to new ideas, and actively look for ways to improve your skills and knowledge. This can lead to better decision-making, improved performance, and a more successful business overall.
  • Promotes Goal-Setting: You will notice that you start to set ambitious goals and work hard to achieve them. This can help you stay focused, motivated, and on track, even when faced with distractions or obstacles.

Overall, having a business growth mindset is essential if you have the desire  to succeed in today's competitive business environment. By adopting this approach, you will remain resilient, innovative, and focused on your goals. 

How does a new business owner start adopting this mindset?

Adopting a business growth mindset requires a conscious effort to change the way you think about your business and your role as an entrepreneur. Here are some steps you can take to begin developing a growth mindset:

  1. Don’t shy away from challenges: Instead of being intimidated by challenges, embrace them as opportunities to learn and grow. This means stepping out of your comfort zone and taking calculated risks.
  2. Learn from failure: Failure is an inevitable part of entrepreneurship, but it can also be a valuable learning experience.  (Psst…all health coaches who start their own businesses experience failure) Instead of dwelling on your mistakes, focus on what you can learn from them and how you can use that knowledge to improve.
  3. Seek out feedback: Feedback is essential for growth and improvement.  Actively seek it out from customers, mentors, and peers. Be open to constructive criticism and use it to identify areas for improvement.  Joining Flowell is an incredible way to immediately become part of a larger community of like-minded people. 
  4. Be open to new ideas: Stay curious and open-minded.  Your willingness to consider new approaches and perspectives is crucial to your long-term success. This can help you stay ahead of the competition and identify new opportunities for growth.
  5. Focus on long-term goals: Don't get too caught up in short-term wins or losses. Instead, focus on your long-term goals and how you can continue to grow and improve your business over time.  The “big picture” is important!
  6. Practice self-reflection: Take time to reflect on your experiences, identify your strengths and weaknesses, and set goals for personal and professional development.

Overall, adopting a business growth mindset is about being proactive, and committed to continuous learning and improvement. By incorporating these habits into your daily routine, you can develop a mindset that will help you succeed as a private health coach practitioner. 

Why is a business growth mindset so critical for health coaches starting a new business?

Okay, I know.  We’re really driving home the importance of having a business growth mindset.  So, why is it so critical?  Simply put…business is hard.  That statement is not to scare you.  You can do it!  However, it does take more than selling an impressive program.  You want to be armed with mental strength and a thick skin.  Once you reach this point, the failures or hiccups won’t seem so overwhelming.

Some of the biggest benefits of mindset practice are: 

  • Self-belief: IF I COULD SCREAM THIS OUT, I WOULD!! Limiting beliefs are the most detrimental factors when it comes to succeeding. Believing in yourself and your ability to succeed cannot be overstated.. A positive mindset can help you develop the confidence and self-belief you need to take risks, make difficult decisions, and overcome challenges.
  • Motivation: Starting and running a business can be a long and challenging journey, and it's easy to lose motivation along the way. Continuously practicing your growth mindset can help you stay focused, motivated, and energized, even when things get tough. We need to keep truckin’ along!

In short, your mindset is critical  because it will help you to stay creative, self-assured, and motivated as you work to achieve your goals. By cultivating a positive attitude and outlook, you can increase your chances of success over the course of time. 

You are committed to adopting this mindset, but still struggle with limiting beliefs.  Now, what?

Limiting beliefs are thoughts or ideas that hold us back from achieving our goals or reaching our full potential. I cannot tell you how many coaches we at Flowell talk to about this very topic.  We hear things like:

I don’t think I have what it takes to actually run a business.

I’m not credible enough.  I only have one Health Coach certification.

Why would people want to work with me?  I haven’t had clients yet.

I feel stupid.

I’m embarrassed to talk about my business to people I know.  What if they judge me?

Other professionals in my field have so much more experience than I do.  

AND. THE. LIST. GOES. ON. That was just scratching the surface on limiting beliefs that come up in our conversations.  It’s normal.  It can also be reversed with consistent mindset practice. 

So, how do you begin to overcome these limiting beliefs?  Let’s take a look:

  • Identify your limiting beliefs: Take time to reflect on your thoughts and beliefs about yourself, your business, and your industry. What negative thoughts or self-talk do you find yourself engaging in? What limiting beliefs do you hold? Write them down and acknowledge them. Denial is not the answer
  • Challenge your limiting beliefs: Once you have identified your limiting beliefs, challenge them. Ask yourself if they are based on fact or if they are simply assumptions. Ask yourself if they are serving you well or if they are holding you back.
  • Replace limiting beliefs with positive affirmations: Instead of dwelling on your limiting beliefs, replace them with positive affirmations. For example, if you believe that you're not skilled enough to succeed as a solo health coach, replace that thought with an affirmation like, "I am capable of building and running my own private practice."
  • Surround yourself with supportive people: AHHH THE HOLY GRAIL! Surround yourself with people who believe in you and your business. Seek out mentors, peers, and friends who can provide encouragement, support, and feedback. Flowell is ready to help you right now!
  • Take action: Finally, take action to overcome your limiting beliefs. Break your goals down into small, achievable steps, and focus on making progress every day. Celebrate your successes, no matter how small, and use them as motivation to keep going.

Facing your limiting beliefs head on is extremely challenging.  You have to be willing to look in the mirror and say the negative things out loud.  This is not easy.  It takes courage (which you have) and it also requires a solid support system (which Flowell provides).  You don’t have to do this alone!

Does this article hit close to home?

If you are interested in implementing this mindset into your routine, contact us!  Don’t go through this struggle any longer (it’s been long enough, I’m sure).  We provide a full, comprehensive mindset workup and implementation strategy.  You will be on your way to success before you know it!

We would love to chat with you.  Schedule your appointment now to learn more about what Flowell has to offer!

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