Are you afraid to start your own business? Do you often think about starting a business but then call it quits for some reason? People are scared to start a business for several reasons, but psychologically you are just not in the mindset of starting a business. 

All the other problems like the lack of capital/resources or the fear of starting something will resolve themselves once you have the right mindset. In this post, we want to help you build the right mindset so you can take control of your life and your finances. 

What exactly is a mindset? 

“The mind is a flexible mirror. Adjust it to see a better world.” Amit Ray 

Your mindset is a set of beliefs and thinking patterns that shape how you see the world around you. It helps you see things in a certain way. Your mindset forms your perspective of the world and the things around you and influences your behavior and decision-making. When starting a business, you need a resilient mindset that helps you make wise decisions based on facts and figures rather than emotions. 

In the book, Mindset: The New Psychology of Sucess, Carol S. Dweck explains mindset:

We often see books with titles like The Ten Secrets of the World’s Most Successful People crowding the shelves of bookstores, and these books may give many useful tips. But they’re usually a list of unconnected pointers, like “Take more risks !” or “Believe in yourself!” While you’re left admiring people who can do that, it’s never clear how these things fit together or how you could ever become that way. So you’re inspired for a few days, but basically, the world’s most successful people still have their secrets.

Instead, as you begin to understand the fixed and growth mindsets, you will see exactly how one thing leads to another— how a belief that your qualities are carved in stone leads to a host of thoughts and actions, and how a belief that your qualities can be cultivated leads to a host of different thoughts and actions, taking you down an entirely different road.

Sure, people with the fixed mindset have read the books that say: Success is about being your best self, not about being better than others; failure is an opportunity, not a condemnation; effort is the key to success. But they can’t put this into practice because their basic mindset— their belief in fixed traits— is telling them something entirely different: that success is about being more gifted than others, that failure does measure you, and that effort is for those who can’t make it on talent.

Let us explain in simpler terms. 

Your education, your environment, and your influences in life shape your mindset. These metrics include your culture, your friends and family, and the influencers around you. For example, kids who grow up in a family with highly successful parents and relatives have an environment for success. They grow up in an environment where success factors are in abundance. They have role models who influence their education and their mindset. So a child born in an educated family is much more likely to have a solid academic record than a child growing up around people who do not take education seriously. 

Here is a flow chart to help you understand what shapes your mindset: 

 Many factors can impact your mindset, including your culture (friends/family/teachers) and your preconceived notions.

So what to do about it?

Understand that that you need a mindset shift

A Great change requires profound awareness. So the first step is to recognize if you have a fixed mindset or a growth mindset. 

Know what you want. Do you want to be financially independent? Do you want to own your own business? Do you like the thrill of creating something new? Do you have a business that you want to scale? If the answer to these questions is yes, then you have a certain sense of awareness. 

Look hard at your problems and find out why you are unhappy. Then look at the possibilities. Learn how to eliminate that unhappiness. 

Being aware of your situation and the possibilities that might get you out of that situation is the first step of reshaping your mindset. 

After you are fully aware, The next step is to modify your environment.

Change the environment 

Your environment is the culture you live in and the people that surround you. Remember the adage: “You are the company you keep?” Be mindful of the company you keep, the people you hang out with, and the people you interact with the most throughout the day. How to do that? If you are in school, sit with like-minded students, join groups closest to your interests. Be mindful of the courses you choose so you can be around like-minded people. If you are careful about the people around you, you will automatically find an environment where you thrive.  

If you cannot find the right people to hang out with, choose quality entertainment and online interactive experiences instead. 

Stop hanging out with people just for the sake of hanging out. Think of it this way: A half glass of clean water will remain clean water until you add something to it. Do not add dirty water to your half-full glass to have the satisfaction of a full glass. If you cannot find clean water, be happy with the half. At least you have a half glass of clean water. 

Educate yourself 

Another factor that can impact your mindset is preconceived notions. Try not to assume things and make decisions based on verified facts. Understand that your education in and out of a classroom is important for reshaping the mindset. Listen to audiobooks if you cannot read. Allocate at least an hour a day to just your learning. It could be anything from reading a newspaper to meeting new people. 

Always have an action plan 

The final step in reshaping your mindset is the action plan. You need to measure how far you have come and how much further you need to go. To effectively do that, create a mind map or write down your goals on a piece of paper. Write down the end goal and then map out the smaller goals to reach the end goal. Here is an example:

When starting a business, a checklist can help you create a step-by-step action plan that you can check off as you go along your journey. 

Here is an example of an action plan:


Remember that it does not have to be complicated. Your micro goals should lead to your macro goal or the end goal. 

The bottom line 

Nobody but you can change your future. Do not ever lose your motivation. Just because something is not today does not mean it will not be tomorrow. Start with awareness, commit to self-education, and change your environment. Over time, your mind will begin to expand, ready for more knowledge, and with knowledge comes resilience. Once you are in the right mindset, you can do anything. Start your business or build a blueprint for your life from scratch.

Read more storied related to EntrepreneurshipLifestyle of a BillionaireMotivationMind, Body & Soul, and Technology.


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