Business coaches everywhere will tell you that they hold the secret to helping you build a successful business. All you need to do is sign up for their course and follow the top-secret formula. In no time, you’ll be making 6 or 7 figures. Easy peasy.
Honestly, though, it doesn’t work that way. Building a successful business cannot be confined to a one-size-fits-all formula. But there are some common steps that are more likely than others to lead to long-term success.
For the fastest way to build a successful business, here are the steps I’ve found to be essential.
Ditch the idea of overnight success
We all love the idea of an overnight success story. But those stories don’t really happen. They never show you what really goes on behind the scenes. Those ‘overnight success’ business owners have put 2, 5 or even 10 years into honing their business, their skills, and their mindset before success flowed in.
In fact, many business owners have ‘practice’ businesses first before they strike it rich. They bounce from idea to idea or try out a few different businesses before they settle down with one. They learn to be nimble and fail fast. When something doesn’t work, they pick themselves up, brush off the dirt and keep going.
Other business owners try out different angles of the business idea, stumbling and pivoting until they find the approach and niche that best suits them and solves the needs of their ideal clients.
And finally, there are business owners who invest a lot of time polishing and perfecting the logistics and finer details of their core business before they hit the big-time.
The important point is that nothing is ever lost. Every idea you try out and tool you learn is another link in the chain of your future and ongoing success. Embrace the journey, and be grateful that you’re not an overnight success. Your business has time to grow and evolve into its full potential. And you have time to grow the systems to support it.
Give your business time
While experimenting with your business services and messaging can be a good thing, sometimes, the best strategy is patience. Rather than rushing into the next thing or great idea, slow down. Hone your skills, practice your sales conversations, work on your marketing. Analyze and evaluate everything before jumping to the next cool idea.
If you’re convinced that your current business is not the right fit for you, you can shift. But before you do that, get introspective. Be open and willing to challenge yourself. Perhaps, the missing link is that you need greater focus, commitment, and faith in your current business? Maybe, patience is what will ultimately lead to success?
Be consistent, show up, and do the work to build a successful business. If your business is 3, 6 or even 12 months old, it’s still in its infancy. Give yourself the gift of time. Grant your business the attention and support it needs to grow and thrive.
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Invest in the future, not just the present
In today’s online world, it’s so easy to grab the latest course, the next coach, and the sexiest business technology. But for your business to have longevity, you need to look to the future as well as the present.
Set aside money for business reinvestment – the future expenses that accompany growth and success. One day, you might need to upgrade to a proper CRM (Customer Relationship Management) system to manage a large client database. Hiring additional staff and freelancers like personal or virtual assistants, a bookkeeper, and/or a social media manager will enable you to outsource tasks so you can focus on the area of your unique brilliance. At some point, you’ll need newer computers and other tech equipment. Make sure you have money saved for future expenses.
You also need to invest in your financial future. Set money aside for taxes every time you have some income. Pay yourself a living wage, and preferable more. Contribute regularly to a retirement fund, so you don’t have to work till you’re one hundred.
Work on your mindset
“In a growth mindset, challenges are exciting rather than threatening. So rather than thinking, oh, I’m going to reveal my weaknesses, you say, wow, here’s a chance to grow.” – Carol S. Dweck
You can have all the right strategies and finances in place to build a successful business, but if you don’t work on your mindset you can easily self-sabotage and prevent your success.
Your mindset affects how you think and feel about your business, your confidence, your beliefs about your competence and capabilities, your feelings about worthiness, being deserving of making money, and growing a thriving business, and the likelihood that you will achieve your goals.
Your mindset needs to match your aspirations. Otherwise, you’ll end up procrastinating, spinning out on mind drama, getting stuck in perfectionism, and holding yourself back – rather than taking baby steps, staying the course, taking inspired action and doing the things you need to do to grow your business.
Some useful ways to grow your mindset include managing and mastering your thoughts, speaking to yourself with positive, encouraging self-talk, journaling, and EFT/tapping. Use these hacks to dissolve fears and anxieties about showing up, being visible, marketing your business, asking to get paid, and moving your business forward.
Regular check-ins with an accountability partner can give you a sounding board for your mindset and help you stay on track.
Mental chatter and mind gremlins accompany every stage of business growth. New level, new devil. You never get away from it. So, block out time in your calendar to regularly work on your mindset. Become aware of the thoughts and feelings you’re having today. What’s holding you back? What do you want to do today to grow your mindset and stay focused on long-term and long-lasting business success?
The fastest way to build a successful business is to slow down. There’s no race to the finish. You don’t have to create a six- or seven-figure business in 12 months. And you’re pretty unlikely to do it anyway. So let go. Be willing to show up, experiment, make mistakes, learn from them, and move on. Grow your mindset every day to stay in the game and thrive.
And remember, the goal isn’t the destination. The destination is the journey.
If you’re ready to grow your mindset and finally create a six-figure business that brings your gifts to the world, let’s talk. I help women in business deepen their self-worth, create financial abundance, grow their businesses, and make a bigger impact. Click here to schedule a free one-hour mini-consult.