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3 Reasons Why Your Business Won’t Grow Until You Do
67 Plays3 months ago
In today's episode of The CEO's Wing Woman®, Olivia Jenkins speaks about a topic she's incredibly passionate about – growth mindset. As business owners, we need to recognise that our business won't grow unless we do. If we stop growing as leaders, our business will likely stop growing too. In this episode, we'll unpack the three main things we tell ourselves that hold us back from achieving the level of growth we desire. Let's explore these themes and learn how to overcome them to unlock your full potential and skyrocket your business growth.
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Transcript
00:00:00
Speaker
Welcome back to another episode of the CEOs of Wingwoman. Today, I am really excited to dive deep into a topic that I am very passionate about because it is all things growth mindset. And I firmly believe that as business owners, our business won't grow unless we do. So what I mean by that is we will reach a point in our business where if we stop growing as leaders, it is highly likely that our business will stop growing too. So in terms of the three main factors or the three main stories that as business owners, we can tell ourselves and that hold us back from achieving the level of growth that we want. There are three main themes that stand out and that is what we're going to unpack together today inside this episode. So let's talk about theme number one.
00:00:50
Speaker
The first theme is not wanting to invest in growth, not wanting to spend the money on the development, on the growth, on our education, on our training. So this is one major headspace issue when it comes to mindset that can stop us from achieving the level of growth that we want in our business. Because the more that we can continue to grow as leaders, the more capacity we have to lead our business to success. So, Let's think about this in terms of the investment. So by investing in growth, yes, there is always going to be a cost involved in investing in something, but there's also a cost in not investing in something too. There's what we call opportunity costs. So it's not just about, okay, well, what am I going to spend in terms of this investment? There's also, what is this going to cost me if I don't act now?
00:01:44
Speaker
if I don't make a change, if I don't continue to invest in my growth, am I leaving a huge amount of potential on the table for my business if I don't actually invest in my own growth? So when you think about investing in your growth, it's not something that you do one time. This is likely something that will be a lifelong commitment. It'll be something that you're always investing in. You're always growing, you're always learning new things, You're always striving to be better than you were yesterday. And this growth mindset is really a commitment. It's not something that you do once. It's a way of showing up. It's a way of life. So this commitment to growth is really important as a business owner to always continually expand your mindset, to go into everything, knowing that what you know now, you can always know more. You can always learn more.
00:02:39
Speaker
You can always have an expanded mindset beyond what is possible for you in this moment. So this thought process around not wanting to invest, it's not just about the investment, it's also about what you're leaving on the table. It's the opportunity cost if you don't continue and to invest in your education or in your growth. The second common theme is I'm too busy. Now, this would ring true for a lot of business owners, particularly if you are still in technician mode, you're in manager mode and you're in entrepreneur mode all the time because it's very easy to feel like you're constantly on a rat wheel and you're in your business all the time and you don't really have or it feels like you don't have any any time to be able to step away and actually work on the business. So if you are in a stage in your business right now where you don't have any time, it's highly likely that this is the reason that your business has stopped growing.
00:03:39
Speaker
because you haven't actually carved out any time in your business to work on the business. You're always in the business. Now, I have a golden rule with clients and with my own business that you work on strategy, work on the business minimum four to eight hours a week. So if you are not able to carve out four hours in your diary every week in your calendar to be able to work on your business, then changes need to be made. And you need to get back in control of your calendar to be able to work out how you can structure your time in a way that allows you the opportunity to work on the business and not just in it. Because this mindset of I'm too busy is not serving you. And having that mindset might have got you to where you are today in your business, but it is not going to be the thing that gets you to the next stage in your business. Sorry.
00:04:34
Speaker
this feeling of being too busy is the the reason that you're not focusing on growth. You're too busy to focus on growth. Your mind is too busy. And it's often likely that you would be saying things like, I'm really busy, but does busy equal productivity? No, because we know that there's a difference between being busy and being productive, right? So Here, this stage of of this mindset or this stage of business that you're in is directly related to the fact that you are working on majority of the things that could be delegated to other people in your business. It could be delegated, outsourced or deleted so that you can stay in your zone of genius. You can stay in your 20% of the things that you're currently doing that are actually going to drive the growth.
00:05:25
Speaker
So most often when I say, what are the things that you should be doing in your business that you know you should be doing that you're not doing? It's usually that that is the 20% that you actually need to be working on, but instead you're focusing on the 80% that realistically more than likely should not be done by you, should be delegated, should be outsourced or should be deleted if it's not actually relevant. So this ability to, understand the difference between being productive and being busy is key and learning the art of prioritisation but also delegation as well and knowing when it's the right time to delegate so that you can spend your time in the 20% that is high impact growth activities. The third main mindset block is lack of discipline. So it's a standards issue.
00:06:19
Speaker
It's going back on the commitments that you've made either to yourself, to other people or to your business. And what ends up happening over time is when you don't follow through with the things that you say, when you say you will do something and you don't do that, you will lose trust with yourself over time. And collectively, every time you do that, it takes a coin out of the piggy bank so to speak and this really starts to take effect over long a long period of time and it pick it can become habitual where you are really falling flat on standards and on the boundaries or even if you actually do have boundaries articulated in your business. So this is really important when it comes to building
00:07:04
Speaker
an iconic brand and when it comes to building a bulletproof business, because you need to exercise discipline and you need to have a standards in place that you can work to and you can enforce, you can articulate first, but you can enforce to ensure that you're doing the things that you say you would do. And that then sets a standard for everybody else around you, everybody else in your team, everybody else around you that is spending time with you to make sure that they can meet those standards. so that's really important to build a brand that stands the test of time is to have that discipline and do the things that you say you'll do when you say you'll do them. Now, I know that may seem like a very simple thing, but I would encourage you to reflect over the next week or so after this episode to see if there are any times where you said you would do something and you don't follow through with that. And the reason why this is important as well in the context of mindset is because
00:08:01
Speaker
you really do need to push yourself out of your comfort zone. Sometimes as business owners, if we reach a certain level of success and we become complacent, that's when the boundaries start to get a little bit loose and the wheels start to fall off because we start to you know rest back on our laurels and maybe we're not as disciplined or as focused as we once were and we get a little bit complacent. So this is really important to remember because if you've reached a stage in your business where things have plateaued, This is the perfect time to embrace the beginner's mindset, go back to the very beginning when you first started your business and think about that courage that you had to pluck out of thin air to start your business for the first time. Go back to that and remember that you need to move from your comfort zone into your growth zone. And that happens at all stages. It's not as if you start the business and you have a growth period and then it stops there.
00:09:00
Speaker
We're always growing and the business owners that have phenomenal success, they're the ones that are continuing to make really courageous decisions at every stage of business. They're not just getting to a certain stage and then accepting that that's where their businesses are and just hoping for the best and waiting for their business to grow and being passive in the approach. They're being courageous. They're continuing to make decisions that scare them. and push them out of their comfort zone because they know that on the other side of the comfort zone, yes, there's going to be a little bit of fear and anxiety initially because it's the fear of the unknown. And then they're going to go into a learning state where they're embracing a beginner's mindset and they're learning new things. And finally, they're going to push into the growth zone. And that's where the magic happens. But we need to remember that as human beings, the way that we're wired, our mind wants us to feel safe.
00:09:57
Speaker
It doesn't actually like us going out of our comfort zone because that's not comfortable. That doesn't feel safe. So as humans, we need to remember that it's all in our head and we do actually have the courage within us. We can step forward. We can take our moment and continue to be courageous in business. And that's where the growth will happen. So if you've got a plateau in business, ask yourself, when was the last time I made a really deeply courageous decision? And what's the next courageous decision that I can make? Sorry. To recap on those three things, the three main factors that are holding business owners back from achieving the level of success or the level of growth that they want is number one, I don't have the money. I don't want to invest. A lack of commitment in their own growth. The second one is the I'm too busy.
00:10:47
Speaker
I'm too busy working in the business. I couldn't possibly invest in my growth. So that is the second common story that we can tell us ourselves. And of course, the third is the lack of discipline. And I think this one can be a little bit of a hard pill to swallow, but the lack of discipline is a really important one to overcome because if you can put those standards in place with yourself and you can do the things that you say you do, when you tell yourself you're going to make a courageous decision and you act on that, that's when the growth will happen. So being courageous and not being afraid to step out of your comfort zone into the growth zone.
00:11:23
Speaker
I hope you've enjoyed today's episode and I hope you've learned lots around why your businesses are not growing if you're currently in a plateau. And if you ah can really focus on working on these mindset strategies and really leaning into making courageous decisions, being really convicted in the things that you do, and also understanding that an investment in your growth is something that will pay itself off in spades. I'm confident that you will achieve the business success that you are striving for. So thank you so much for tuning into today's episode and I'm excited to see you in the next show.