6 Mindsets a 6/7 Figure Entrepreneur Needs To Embrace if They Want To Scale Their Business

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If you’re an entrepreneur, it’s not an easy road. On the one hand, you must create and maintain a solid brand to differentiate yourself from competitors. On the other hand, you have to manage cash flow or capitalize on profitable opportunities. These were all at the root of teething problems we see in our Super Scaling members at all levels.

Getting started can be one of the hardest things for many, whether we believe it or not. But having a positive mindset is one of the most important things when it comes to having success as an entrepreneur. This article will detail some mindsets you need to embrace if you intend to scale your enterprise to a six- or seven-figure organization.

1. ”Risk-Taking is Part of effective Planning”

The mindset of a 6/7 figure entrepreneur isn’t stopped by the fear of taking risks and is willing to make sacrifices to achieve their goals. It’s essential to understand what type of person this is and what they’re eager to do to achieve success.

They not only have the proper attitude but are also very determined to succeed in their business. The best entrepreneurs are willing (and clear minded) to take risks. They understand that failure is part of the process and that you aren’t trying hard if you are not failing. They know that success doesn’t happen overnight and that it takes time and effort to build a business from scratch.

Experimentation, therefore, is at the heart of planning, so that you ensure that a risk taken is done with due diligence and contingency plans!

2. “Amplifying the Good”

If you look at your life objectively, you will notice that good things are taken for granted. Clean water, clean air, a safe enough environment to run a business. And yet, many people are plagued by problems as if that was the only thing that happens in their life.

Entrepreneurs need to maintain a positive attitude so they can see the good in everything that happens in their business and life. I don’t mean toxic positivity where you simply try and look at the good in everything. What I mean is to savor memories and moments where you felt achievement, success, and resourceful moments. Such thinking is powerful because it helps you detach yourself from negative thoughts, which typically amplifies stress, anxiety, depression, and other issues.

3. “Constant Pursuit for Improvement”

Entrepreneurship is a journey, and it’s not a destination. The goal is to build something that can last, but there are no shortcuts to success. You need to know that the world’s best entrepreneurs are always learning and constantly reading, listening, and attending events, workshops, and seminars.

But beyond that, I have a ritual of spending time thinking about my business on a piece of paper. What needs to be redone? What needs to be improved? How can I push the results of improvement for my audience?

Often, by hunting for better ways to execute tasks, we can then replace old processes. The issue is that creating these processes requires a clarity of systems thinking. When you have it all in your head, it’s never going to work. Instead, attempt to do it visually so that you can return to it and start thinking in a manner that makes your processes vibrant and valuable through time.

4. “Proactively Hunt for Failure”

The reality is that most entrepreneurs make mistakes, which is true for everyone, especially for entrepreneurs trying to scale their businesses.

Entrepreneurs that succeed embrace their mistakes as growth opportunities and learn from them, in contrast to those who fail and instead place blame on others, never growing from their missteps.

I would say that reactive failure is not something I prefer. I do like to hunt for potential roadblocks and failure points in advance, and ponder over them so that I can get prepared in the event such a mistake occurs. To be fair, clarity of our failure points is going to be far more predictive of our future than hoping to be successful. At least, with knowing what kinds of mistakes can take place, we can institute contingencies.

5. “Effectiveness first, then efficiency”

I’ve always emphasized in our coaching sessions that we must first have an effective approach that delivers results first, then aim for efficiency. Both are not mutually exclusive because both are still needed for scaling a business.

Consider what results you need to deliver first to your customer. What will have the most significant impact on your business? Prioritize those tasks first, so that no matter how tedious it is, you eventually get the deliverables expected from your clients. Then, you can set up systems or delegate specific responsibilities to others in your organization to improve efficiency later. When you invest time thinking about how to unblock tedious activities like paperwork filing or email replying, you can smoothen out efficiency through the establishment of systems.

6. "For things to change, I must change first”

You must be able to respond to change, adapt swiftly, and pivot when necessary if you want to grow your business. You are in charge of everything as an entrepreneur, from managing clients and customers to recruiting and firing personnel.

Psychologically speaking, the ability to accept personal responsibility for results in your life will be crucial. I learnt this in my own training in neurolinguistic programming. As the key basis for improvement, we should focus on the things we can change on the inside in order to become more adept at attaining results on the outside.

This way, my expectation for scaling the business will always be raised to the level of what I truly believe. And as we know, positive expectation and belief might not be something that MBAs talk much about, but has been the single most important factor in the transformation of many businesses and the conduct of business.

Conclusion

Scaling a business is not just done with tools and systems for the business. You need to remember that you as an individual are representative of that business, so a misaligned mindset can set you back by months, even years. If you found this article helpful, do share it with someone who might need it. Or you can also register to join Super Scaling X in order to learn this and other cool approaches to business scaling!

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