It's always a good idea to take a moment for self reflection and dismantling the beliefs that are keeping you stuck. The end of the year is also a great time to identify issues that held you back during the previous year. 

We frequently talk about the strategies, tools and resources needed to build a thriving business, but we haven't spent enough time of the biggest dream killers of all, those myths and limiting beliefs that keep us stuck. 

Struggles, Challenges and Issues... Oh, My!

Experiencing a little fear and apprehension is normal when you venture into the unknown. At the same time, a lot of fear, doubt and a lack of confidence can set you back for years.

Until we acknowledge and manage these nagging mindset blocks that can stand in the way of our progress, we'll never realize our dreams.  

Embracing a positive and adaptable perspective not only empowers individuals to navigate the ever-evolving landscape of the digital marketplace, but it also positions them to view setbacks as opportunities which leads to innovation and improvement.

A mindset geared towards continuous learning, adaptability, and a belief in one's ability to overcome hurdles is the driving force behind a sustainable and thriving online business.

The Stuff No One Talks About

For example, it's not easy to admit that you have insecurities, you're afraid or you suffer from low self esteem. 

But these challenges are real and they have to be addressed before progress can be made. 

We'll outline them in a way that not only brings them to the forefront, but gives you tips on how to get around them to reach your goals and form consistent habits.

Conquering Limiting Beliefs

Let's start with the fears and beliefs that can hold you back and keep you from reaching your goals.

1. Fear of Failure

Many entrepreneurs fear that their business might fail, leading to financial loss and damage to their reputation. This fear can paralyze decision-making and hinder taking necessary risks.

If this sounds like you: It's important to identify and evaluate the reasons you think your business might fail. Get a notebook and listing them on paper. Next decide what your fears are based on.

For example, is your fear based on data or feedback you've received when you implemented a procedure or plan, or is it based on a hunch or a feeling?

Fears that result from data can be improved or fixed. If your data shows something negative, use your feelings of fear and dread to fix the issue. If you're not sure how to fix it, consult with other business owners to brainstorm ideas you can use to fix the issue. Take a poll or ask your friends, family, or others in your network to take a look at the issue to get their input.

Perform A/B testing to receive feedback from your audience to see what works best with the people you're trying to sell to.  

It's important to realize that failure is part of building a thriving business and learning something new. No one who has a successful business got to where they are by never taking risks and never failing. 

No one wakes up one day, throws up a business and starts reaching their income goals without failing and learning from mistakes.

When you fail, it doesn't mean you're a failure. It doesn't mean you're a bad person. It just means that what you tried didn't work. End of story.

You can regroup and try something different, or you can take it personally and cry 😭or sulk about it. It might feel like a major gut punch 👊🏻 when you don't succeed at something. We get it. 

But the important thing is that after your cry, 😭you do eventually regroup (sooner rather than later), maybe do some research to determine why things didn't work out and you get busy trying something different.

The business owners who make it through to the other side of success will frequently work with coaches and mentors. They also network with like minded business owners to come up with new and innovative solutions to get around obstacles.

Failure Can Be a Good Thing! 😆

Failing can be a good thing because it tells you what's working in your business, and it can signal that you need to change direction.  

It's important not to take it personally if your strategies don't work. That just means it's time to make changes you can test, and try again.

2. Imposter Syndrome

Some new business owners may doubt their abilities and feel like they don't deserve success. They may believe that others are more qualified or that they are simply "pretending" to be entrepreneurs.

If this sounds like you: It may be hard to believe when you start getting results that this is happening to you, and you may start feeling anxiety about whether you  are "worthy" or "deserve" to be happy and successful. Of course you do... it takes work to reach a place where you're getting results and it's not something to take lightly. 

To manage these feelings and give yourself positive affirmations, and the motivation to keep going, it might be a good idea to keep a journal that helps you express your feelings as you face challenges, solve more problems for yourself and others, and as you get more and more wins in your business.

It may also help to watch videos of motivational speakers like Zig Ziglar, Les Brown, Tony Robbins, or anyone who motivates you in a positive way.  There are so many more who have been where you are and received huge successes.

3. Scarcity Mindset

This belief revolves around the idea that resources are limited, and success is a zero-sum game. Business owners with a scarcity mindset may struggle to invest in themselves or their businesses due to the fear of not having enough.

If this sounds like you: This is a mindset that will definitely keep you stuck. You are your biggest and best business asset. Your business is you. And until you have the tools and resources (including the right business building, goal oriented mindset) needed to build a thriving business, you will stay stuck in a rut.

It's crucial to first be coachable, because no one is born knowing how to run an online business. So you will need people who can show you the ropes. If you're not willing to listen, learn and implement, you're probably wasting your time with this whole process.

There is no magic wand that you can wave over your business that will make it profitable. That's all up to you. So if you bring a depleted, defeated, uneducated, unmotivated person to your business, what do you think your chances of success will be? 

Investing in training, motivation, tools and resources can open doors and take you to places you never dreamed were possible.  

4. Perfectionism

The desire for perfection can be a significant barrier. Some entrepreneurs may feel they need everything to be flawless before launching, which can lead to procrastination and missed opportunities.

If this sounds like you: Keep in mind that your goal as a business owner is to create and implement content and proven systems that will earn you money. You earn money by helping your ideal customers solve problems. End of story. 

You can spend your entire day, creating long drawn out, complicated "gobbldygoop" that looks great and means absolutely nothing to your audience. Or you can create a system your audience understands, that gets to the point of helping them solve a problems, add a buy button, promote it and move on with the rest of your day. It's all up to you. 

Confused, people don't buy. Simplicity sells. So if this is you, create a sign that you hang in your work area that says, "Perfect is the Enemy of Done". If it never gets done, you never launch. If you never launch, you never make money.

The best way to get around perfectionism is to force yourself to launch (or implement), even when what you're trying to do is not perfect. Of course you want to check spelling, grammar, placement, etc. But once you have proofread it's time to launch, implement tracking and measurement tools to see how well it performs, and move on with your day.

A great way to get things done is to create your own templates or purchase.  For visual elements you use on a regular basis, you can easily create templates using a free tool like Canva.

5. Lack of Self Worth

A belief in one's own unworthiness or inadequacy can undermine confidence and hinder proactive decision-making. It's crucial for business owners to recognize and overcome such beliefs to build a successful venture.

If this sounds like you: Is your inability to move forward because you lack confidence to go for it? Starting an online business is not for the faint of heart. It can be downright scary. If you feel awkward, intimidated, and hesitant... join the club. 

When you're feeling that way, you have to find ways to manage what you're feeling. So whether it's journaling, talking to a therapist, reading self help and motivational books, watching videos of people who have done what you're trying to do, joining communities, etc., you HAVE to find ways to overcome these fears and doubts.

Overcoming these limiting beliefs often involves a combination of self-reflection, mindset shifts, and seeking support from mentors or peers in the entrepreneurial community. It's important to determine whether you are sabotaging your own success because of a lack of fears, doubts, a lack confidence or all the above.

Common Myths About Starting a Business

Here are five common myths about starting and having an online business that can limit the success of a new or aspiring business owner:

1. You Can Become an Overnight Sensation

Myth: Online businesses can become successful overnight.

Reality: Building a successful online business requires time, effort, and consistent dedication. Overnight success is rare, and most thriving businesses result from sustained hard work and strategic planning.

2. Reaching Your Income Goals Requires Little to No Effort

Myth: Running an online business requires minimal effort for maximum results.

Reality: While online businesses offer flexibility, they still demand significant effort and commitment. Success typically comes from continuous learning, adaptation, and perseverance.

3. Anyone Can Do It

Myth: Anyone can easily succeed in online business.

Reality: While the barriers to entry may be lower, successful entrepreneurship demands a unique combination of skills, market understanding, and determination. Not everyone is suited for the challenges of running a business.

4. You Can Be Successful Without Marketing

Myth: If you build it, they will come.

Reality: Having a great product or service is essential, but effective marketing is equally crucial. Without proper promotion and visibility, even the best offerings may go unnoticed in the crowded online space.

5. Passive Income is Effortless

Myth: Building passive income streams require little to no effort once they are set up.

Reality: While the concept of passive income is appealing, it's not totally hands free. You can't just set it up and walk away.

Establishing and maintaining passive streams of income involves upfront work and ongoing maintenance and testing.

Successful entrepreneurs continuously monitor and optimize their income-generating activities for maximum results.

6. You'll Need a Lot of Money to Get Started

Myth: Only people with lots of money to invest can have a successful business online. 

Reality: Many online businesses can be started for $200 or less, which practically eliminates the barrier to entry. There are lots of models that can be started for free, if you have committed to certain platforms that utilize free plugins and apps.

Understanding the realities behind these myths is essential for new and aspiring business owners to set realistic expectations, plan effectively, and navigate the challenges of starting and growing an online business.