Mindset Mastery for Entrepreneurs – Part 3: What Does it Take to Develop a Winning Mindset?

This three-part series is intended to support you during these difficult times by guiding you in developing a winning mindset and building a thriving business.

In Part 1, I shared a brief overview of the 9 elements of a winning mindset.
In Part 2, I explained Elements 1 – 4.
In Part 3, I will delve more deeply into Elements 5 – 9.

Overview

⇒ Element #1: Vision & Values (Part 2)
⇒ Element #2: Empowering Beliefs (Part 2)
⇒ Element #3: Goals (Part 2)
⇒ Element #4: Focus (Part 2)
⇒ Element #5: Perseverance (Part 3)
⇒ Element #6: Confidence (Part 3)
⇒ Element #7: Growth Mindset (Part 3)
⇒ Element #8: Resilience & Performing Under Pressure (Part 3)
⇒ Element #9: Communication Skills (Part 3)

You will benefit the most from this article when you…

Ponder on each of the following exercises and write down your answers. This will help you gain clarity about where to focus your attention in order to bring your business to the next level.

⇒ Element #5: Perseverance

“If at first you don’t succeed, try, try again.” – Thomas H. Palmer

You persist in an idea, purpose or task despite obstacles, failure and opposition. This is the key to achieving your goals and success.

Famous entrepreneurs who exemplified perseverance are Steve Jobs, Thomas Edison and Walt Disney. If you read their stories, you´ll find that they persisted in their dreams against all odds.

⇒ Exercise: Rate your perseverance

What is your one great idea that makes it worthwhile to persevere? What is one situation in your business or life where you have successfully persevered?

Reflect and write it down!
Now check two other situations.
Rate your perseverance on a scale from 1 – 10 in these situations. Do it now!

If your scores were on the low end of the scale, use the following 5 steps to improve your perseverance:

Step 1: What did I do well?

Think about an example from the past or present where you performed well.
Now take a second to appreciate what you did well. Smile!
Store it in your memory and use this example to build yourself up to overcome current challenges.

Step 2: What didn´t go so well?

If you didn’t achieve what you desired, be honest, face it and then let it go.
At the same time, don´t judge your current situation. A great opportunity may be right around the corner! The next three steps will help you get back into the winners’ circle.

Step 3: How do I feel?

If you’re upset and beating yourself up, take several deep breaths and exhale slowly until you feel relaxed.
When you feel calm, you can make better decisions on how to move forward.

Step 4: What can I do differently?

Think about what you could do better next time.
Say to yourself “Next time I will ____________.”
What actions would be best in this situation?

Step 5: How can I be more successful?

Visualize the success you desire and take appropriate action.
High achievers practice three success factors: Focus, building their competence and igniting their passion.

⇒ Exercise: What do I need to increase my stamina and perseverance?

I need to __________________________.
I need to __________________________.
I need to __________________________.

Direct your focus on meeting those needs. This will help you to persevere, and to have the stamina to build your business successfully.

⇒ Element #6: Confidence

Everyone admires a self-confident person, someone who’s at ease with him- or herself. Self-confidence also provides the fuel for high performance and the boost your mind needs to function well.

⇒ Exercise: How self-confident are you?

In what situations do you feel self-confident and when do you not?
Pick a situation in one area in your business and rate your self-confidence on a scale from 1-10. Repeat this process with different areas and situations until you get a complete picture.
What comes up for you if you note any lower scores?
Reflect on where you would like to improve. Write it down!

How can I build my self-confidence?

It’s not easy to be self-confident, particularly if you’re self-critical or if other people put you down. Remember, self-confidence comes from within!

Use the following 5 steps to improve and maintain your self-confidence:

Step 1: Understand self-confidence

Self-confidence is:

Valuing yourself and feeling worthy, regardless of any imperfections or of what others may believe about you.
Trusting your own judgments and abilities.
Believing that you can accomplish whatever you set your mind to and that you deserve success.

Step 2: Build self-confidence habits

Take advantage of opportunities, face your fear, and be decisive.
Step outside of your comfort zone, face conflict, don´t judge others.
Take responsibility for your actions, listen deeply, speak with conviction and take care of your physical, emotional and mental health, etc.

Step 3: Positive self-image & feedback loop

Develop a positive image of your authentic self.
See yourself confidently talking, presenting, leading, etc.
Hold this self-image in your mind, and you’ll likely start to receive positive feedback that reflects your self-confidence.

Step 4: Review your past achievements

Your self-confidence will increase when you’re able to say, “I can do this, and here’s the evidence.”
Create an achievement journal and list 10 of your favorite achievements.
Review these achievements daily to build your confidence.
I also recommend taking this strengths test[1] to determine your top five strengths, so you can build a solid foundation for your self-confidence.

Step 5: Boost your self-confidence

Visualize yourself as a confident person.
Affirm yourself and improve your self-talk.
Challenge yourself to go beyond your self-perceived limits.
Question your inner critic.
Mentally, set yourself up to win.
Be aware of your body language. Don´t slouch!
Focus on a positive outcome.

By changing your focus, internally and externally, you’re changing your mental and emotional state that changes your life and business!

⇒ Element #7: Growth Mindset

According to Stanford social psychology professor Carol Dweck[2], who specializes in mindset psychology, a fixed mindset is when people believe their basic qualities, intelligence, talents, and abilities are fixed traits. They believe that they have a certain amount of these traits and can´t change them.

On the other hand, people with a growth mindset believe that their innate talents, aptitudes, interests or temperaments can be changed and enhanced through application and experience.

These are the people who really go for it in life, and challenge themselves constantly to grow and learn.

Developing a growth mindset is a big concept in itself. You will find more information on my website on how to develop a growth mindset[3].

⇒ Element #8: Resilience & Performing Under Pressure

When things are upside down and can’t be changed, resilience gives you the flexibility, creativity and humor to get through it all. Resilience allows you to face a challenge, overcome it, and be even a little bit stronger and wiser next time.

⇒ Exercise: Rate your resilience

What is one personal trait you could change in order to increase your resilience? For example, you could let go of negative thinking and habits.
Write down your ideas and reflect on them.

⇒ Exercise: How well do you perform under pressure?

What are the positive and negative qualities you embody when you´re under pressure? Write down your thoughts and ponder what you could change.
On a scale from 1 – 10, how well are you able to work on one project or finish one task while performing under pressure? Rate yourself now!

Use the following 5 steps to improve your performance under pressure:

Step 1: Conquer pressure & stress

There are three aspects to feeling pressure: you desire a result, the outcome is unknown, and you feel responsible for the outcome.
Focus on the present moment to conquer feelings of pressure and stress.

Step 2: Right strategy

One very effective strategy to handle pressure is to focus on your breath.
Take several deep breaths to release the tension and pressure. It will help you to think clearly and to find creative solutions to your current problems.

Step 3: Confidence & optimism

Confidence and optimism are key attributes to handling and defeating pressure.

Step 4: How do you think about the situation?

The meaning we ascribe to a situation either heightens or relaxes our sense of being under pressure. What do you think about your current situation?

Step 5: Manage pressure & embrace new opportunities

Start with strengthening your confidence, optimism, and enthusiasm.
See the opportunity in every challenge.
Learn to regulate your breathing, thoughts and emotions.

⇒ Element #9: Communication Skills

“The greatest compliment that was ever paid to me was when someone asked me what I thought, and attended to my answer.” – Henry David Thoreau

Effective communication is one of the most important skills in life. Essentially, communicating effectively means to clearly articulate our own thoughts and feelings and to listen attentively to others.

⇒ Exercise: Rate your communication skills

On a scale from 1-10, rate your ability to articulate yourself clearly. Do it now!
What feedback have you received from your team and customers about your communication skills?
What do you need to learn or improve in order to communicate more effectively?

There are many great books about communication skills[4]. I find these 7 skills most important:

Skill #1: Verbal & non-verbal communication

Non-verbal signals include tone of voice, eye contact, arm and leg postures.

Skill #2: Active listening

Active listening creates a safe environment for others to express their feelings, thoughts and ideas.

Skill #3: Asking questions

Asking questions shows you´re interested in your communication partner.

Skill #4: Be clear & succinct

Be clear and concise about what you communicate. Less is often more!

Skill #5: Clarifying & summarizing

Reflect back to clarify and summarize what you´ve heard. This shows that you´re actively listening to your communication partner.

Skill #6: Being empathetic & develop trust

Understand what is going on for the other person. Try to see things from their perspective.
Adapt your communication style appropriately to the situation to build trust.

Skill #7: Being present & providing feedback

Being present includes accepting the other person you´re communicating with so you can provide valuable feedback.

Summary

Element # 5: Perseverance

How can I improve my perseverance?

Step 1: What did I do well?
Step 2: What didn´t go so well?
Step 3: How do I feel?
Step 4: What can I do differently?
Step 5: How can I be more successful?

Element #6: Confidence

How can I build my self-confidence?

Step 1: Understand self-confidence
Step 2: Build self-confidence habits
Step 3: Positive self-image & feedback loop
Step 4: Review your past achievements
Step 5: Boost your self-confidence

Element # 7: Growth Mindset

What does it take to develop a growth mindset?

Be open to learn, improve, and grow
Be motivated by setbacks
Embrace self-transformation

Element #8: Resilience & Performing Under Pressure

How to perform well under pressure:

Step 1: Conquer pressure & stress
Step 2: Right strategy
Step 3: Confidence & optimism
Step 4: How do you think about the situation?
Step 5: Manage pressure & embrace new opportunities

Element #9: Communication Skills

Skill #1: Verbal & non-verbal communication
Skill #2: Active listening
Skill #3: Asking questions
Skill #4: Be clear & succinct
Skill #5: Clarifying & summarizing
Skill #6: Being empathetic & develop trust
Skill #7: Being present & providing feedback

Supporting You…

I´m available to support you through this difficult time by re-imagining your business, developing perseverance, confidence, a growth mindset, resilience, optimal performance under pressure, and effective communication skills.

Contact me for a complimentary 30-minute strategy session:

https://nextlevelcoach.as.me/schedule.php

Let me know if this article was interesting and helpful. Leave a comment!

[1] https://www.gallup.com/cliftonstrengths/en/strengthsfinder.aspx

[2] Carol S. Dweck, Ph.D. (2006), The New Psychology of Success, P.11ff.

[3] http://mariusbill.com/business-mindset-coaching/ or http://mariusbill.com/blog/

[4] John C Maxwell, Everyone communicates but a few connect, 2010; Kerry Patterson, Ron McMillan, “Crucial Conversations”; Courtland L. Bovee, Business Communication Essentials, etc.

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This article series was published in an online magazine! Click the links below to find the articles in the magazine:

Mindset Mastery Series for Entrepreneurs – Part 1

Mindset Mastery Series for Entrepreneurs – Part 2