As an entrepreneur, you’ve invested time and energy into building a flourishing empire. Running a business is a considerable achievement, but unfortunately, it also comes with its fair share of challenges. Although it's healthy to celebrate the positive parts of your business, it's also essential to recognize its barriers, so you can overcome them, grow, and ensure that your business is successful in the long run.
One of the most common challenges entrepreneurs face is when they adopt a scarcity mindset. The basis of this mentality is fear, and that fear then drives your actions. Rather than focusing on your gains, your mind fixates on your losses. And that's no way to run a thriving business!
A scarcity mindset may manifest itself in self-sacrificing tendencies from the toxic belief that energy, money, and community will never come your way. So rather than welcoming abundance, you feel the need to hoard everything you have, which only gets in the way of growing your empire.
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A scarcity mindset closes you off to abundance in all areas of your life, making it impossible for you to put 100% into your business. If you can relate to this toxic mentality, it's time to recognize the problem, determine how it's affecting you, and find a way to solve it. Here are three signs a scarcity mindset is getting in the way of your business flow.
Hiding your authentic self
While you may be committed to your business, fear can get in the way of fulfilling your goals. For instance, you won't feel comfortable presenting your truest self to others when you have a scarcity mindset. Instead, you may feel the need to please those around you and hide your whole self because you're afraid of being judged. The problem is, you can't run your business when you're not confident in who you are.
Notice the common thread: Fear. Fear makes you feel like you can never measure up to those around you. It convinces you that you're incapable of running a successful business, and you shouldn't speak your truth. All of these beliefs are false.
Hiding your true self puts a barrier in front of your business flow because you cannot fully step into your role as CEO. For example, you may feel unconfident in your decisions, or you may believe that all of your work will never be enough. That's the scarcity mindset talking.
Not making time for rest
When you're stuck in this scarcity mindset, you don't make time for rest. To you, rest is an option rather than an obligation. Fear fuels this type of productivity. It may be fear of not making enough money or anxiety about not using your time wisely. Regardless, overworking only leads you to burnout.
When you experience burnout, your creativity runs dry, your energy declines, your mind processes things slower, and you can't give your best to your clients. Your exhaustion will block your business flow.
Although a scarcity mindset may convince you to dedicate your time to your business, the reality is that your business needs you to rest and recharge. That means rest should be one of your top priorities!
Fear of taking financial risks
Taking financial risks is part of being an entrepreneur. However, when you have a scarcity mindset, you're hesitant to make any financial decisions. It doesn't matter if the risk is big or small. You don't want to take any chances. Instead of investing your money, you may hoard it away in a bank account with little means of growth.
Fear of financial risks may also stand in the way of growing your business. For example, you may feel uncomfortable investing in tools for your company or outsourcing assistance from other professionals. But the problem is, you can't do everything on your own. A thriving empire requires a team, so you need to remain open to investing your money in meaningful changes.
Balancing too many roles makes it harder for you to stand confidently as the CEO. As a result, your energy and time are depleted, and you can no longer tap into your strengths as a business owner.
A scarcity mindset holds you back from growing your business into the empire you envision and deserve.
Transform your mindset
The good news is this: you have the power to change your mentality. You can start the process by practicing self-reflection and journaling. Keep in mind that negative thoughts and feelings will appear, and that's normal. The goal is to understand your emotions, why you're feeling them, and how you can change them in a way that better serves you.
Start by asking yourself the following questions:
- Why do I feel like there's never enough time?
- Why do I feel like I'm not enough?
- Why do I feel like I need to hide who I am?
Take your time with each question and allow your thoughts to flow freely. Afterward, think about instances when you felt like you couldn't accomplish something due to a lack of money, time, or energy, but everything worked out regardless. Our limiting beliefs convince us of these “untruths,” when in reality, we have more control than we realize.
Reflect on the outcome of those experiences and finish your journaling exercise by writing the following statement, "I am fully capable of achieving anything. I have an abundance of money, time, and energy."
When you live in abundance, your actions and decisions are not driven by fear. Instead, you can stand confident as your most authentic self and invest a healthy amount of time and energy into your business. You have the strength and determination to change your mentality. So start shifting your mindset and grow your business into the empire it's meant to be!
