The ONE practical mindset shift that will transform your financial success
Struggling to make money in your business? Find out why you’re probably not turning a profit yet – and the ONE practical mindset shift that will transform your financial success.
When I first started as an entrepreneur 14 years ago, I made some big mistakes that resulted in some seriously struggling businesses. I can place all that failure down to ONE thing – starting a business for selfish reasons!
I started my business because I wanted to run a business. It suited me because I liked the idea of not having a boss, I wanted it to work around me and my life and I want to do something I enjoyed.
Most of you will probably relate to those reasons, and wonder why I’m deeming them as ‘selfish’. But the fact is, those reasons alone will not create a successful business because it’s not approaching it from a place of service.
Women struggle to turn their passion into profit
What do I mean by that? Let’s take the popular craft industry to illustrate the point. Women have a tendency to create businesses or products on the basis that they just enjoy doing it/creating them.
Over the past year, I’ve seen many new craft businesses pop up, because people want to turn their passion into a profitable business. However, if the owner is doing it because they love their craft and for that purpose only, the business unlikely to succeed.
Why? Because unless you are producing things that people want to actually buy, your business will always struggle. Businesses exist to serve a need and a requirement, and if the market doesn’t want what you have to offer, you don’t have a business.
The moment I switched my perspective to create a business around my ideal client and what they genuinely wanted, was the moment I achieved rapid and phenomenal success both in money and soul reward in my own business.
So, while I absolutely believe that you can work in alignment with your purpose and make money from it, you can simply turn any hobby or process that you want to teach into a success.
Your business won’t succeed until it solves a problem
Your business won’t be successful unless it actually solves a problem. You need demand – and people willing to pay you to solve their problem for them. This is the key mind shift change we need to make – looking at what you do from your client’s perspective, instead of your own insular view.
This is why it’s so important to start with a mission that’s bigger than you, and to delve into why you started your business in the first place (beyond your ‘selfish’ motivations).
That’s not to say that your ‘selfish’ motivations should be disregarded; those motivations are valid and genuine requirements for many of us. But in order to create a sustainable and successful business you have to make it bigger than just you and your family and what’s going on in your world, otherwise no one really cares.
When we ask the question – “What is the transformation that I want to see happen in in the wider world?” we can gain laser focus on both your ambition and passionate why to change the world one person at a time. As well as the genuine desires and problems of the people who need you.
Look at your business through the eyes of your ideal client
So, whenever you are creating a product or writing a piece of content marketing, look at it through the eyes of your ideal client instead of from your perspective.
Instead of saying ‘this is my process and this is what I want to teach or take somebody through’, ask yourself:
- What is the problem that this person has?
- What is the goal that this person wants to achieve?
- How can I use my skills and my processes to help them achieve that goal and overcome a problem that is stopping them?
As soon as you make that switch you will find that your business will be positioned in a way that you can monetise it and make traction, because you’re actually ‘in demand’ instead of running a fun enterprise. It will still be purposeful, you can still work within your zone of genius, but use your superpowers to actually help others (and make money) rather than just pass the time.
After all, if we want to be taken seriously as business women, we must stop running hobbies and start running serious, profitable businesses.
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