I bet you are thinking that it is your credibility in your respective niche or in the people who work for you. Maybe even your products or services, even your intelligence or something that no business can succeed without: money!
Well, the answer is a resounding no on all accounts. In fact, by all accounts, it is your own attitude or more specifically your way of thinking that decides the fate of your business. How many times have you read or heard that if you want to create a billion dollar company you have to think like someone who already runs a billion dollar company? You must already be that person.
Or at least have the same mindset.
I know what you are probably thinking, here we go again, more “mind over matter”, “you are what you think”, “what the mind can conceive, you can achieve” or “it all starts with the mind”, but the fact of issue is that it is precisely where everything starts.
The difficulty is in transferring that thought to a series of specific actions that lead you to manage a $ 1 BILLION business. Let’s face it, only a few do!
Here are 7 mindset principles that are crucial to building such a business. If you take it seriously and spend only a few minutes a day adjusting your mindset towards this goal, then it is the best investment you can make in that business.
But keep in mind that this will take time; in all likelihood, you will have to do it in stages. Go to a $ 100,000 company first, then a $ 1 million company, and so on. Once it hits $ 10 million, according to the people who have done it, it gets easier!
1. The principle of definition of its great purpose
Great business leaders and their companies do great things that leave a legacy, leaving the world a better place for it. These leaders create a cause, not just a business. They become philanthropists who use their incredible position and wealth for good.
Their businesses became more than just a business: they became a conduit for something bigger than a simple business, bigger than the leaders themselves and their own interests.
I quote Victor Frankl, a renowned Austrian psychiatrist: “Success, like happiness, cannot be pursued, it must arise … as the unintended side effect of personal dedication to a cause greater than oneself.”
What is the great purpose or cause of your business? How can your company help improve the lives of your customers?
2 The principle of thinking clearly
“As Man Thinketh” is a very famous book written by James Allen, who spent 25 years interviewing famous and successful people of his time trying to discover exactly what was different about them that made them successful.
He deduced that it was all due to his thoughts and acting on them.
If you focus on any particular problem, you will end up with more of the same problem. However, if you focus on the solution, you will find that solution and most likely other different and potentially profitable solutions will show up as a bonus.
What are you focusing on now in your business? Problems or a solution? Clarify your problem and then start thinking clearly about how to solve it. Thinking clearly sounds easy, but it takes practice. People who run billion dollar businesses do this, often.
3. The principle of attraction.
What you think can often be attracted. This does not mean that if you constantly dream of winning the lottery, you will win; dreaming or wishing is not the same as thinking. In business and very often in life, what you think seriously about you can attract
I have also read that the big difference between dreaming and waiting is the feeling it carries. Strong emotions help speed up the process. Don’t just dream, really feel what it would be like to have whatever it is you want, live it! It is only restricted by your imagination, let it rip!
Does it seem like you’re only attracting difficult clients or those who earn you low income? If so, you almost certainly believe that that is all you are worthy of, at least subconsciously.
Paul McKenna, a renowned hypnotist, was trying to help a client make his business more successful. The man sold his services through seminars, and in doing so he was only able to work for a few days and with so many clients a year, limiting his income. He felt he couldn’t charge more than $ 1,000 per customer, as in his own opinion this seemed like a fair but high price.
Paul asked why he couldn’t charge more and the man replied that he felt that no one would pay more. So Paul asked him to imagine charging the client $ 120.00 for his services. The man obviously couldn’t consider it even if he thought someone would pay for it, but then Paul started lowering the price first to £ 6,000 and then to $ 5,000 and then £ 2,500, at which point he asked the man if he thought it was a price. fair price to which the man answered yes. Why? Because the man thought that compared to $ 12,000 it was a bargain!
This is a great example of how someone who runs their own business can change their business almost immediately by changing the way they thought about their business and what they could do for the customer. The man changed his pricing structure, ended up with more customers than he could handle, and has since raised prices again.
Apparently, your business is always a mirror of your inner thoughts. What do you have to do to get better prices? What needs attention in your business to enable this? What does your company need to move to the next stage?
4. The principle of commitment and creation
So you want to create a billion dollar business. By themselves, your thoughts, hopes and dreams are not enough: you have to do something. Albert Einstein was quoted as saying “Nothing moves until something happens”.
You have to make something happen and you do it being 100% committed to your goal. Whatever happens, you will take your business to the next level.
Once you are 100% committed and focused on your goal, the magic seems to happen. If you find the right people and resources to support you, the right opportunities will appear out of nowhere. It’s called synchronicity.
Are you still dreaming or have you done something? Are you 100% committed and focused?
5. The principle of perception
When marketing your product, try to see it from the customers’ point of view. How do you perceive your product? I once worked for a company that sold a high-priced product, but it wasn’t really that expensive to buy. However, the general opinion of our customers was that it was an expensive product and they expected to pay a lot for it, so they did it!
How you market your product is crucial to how your customers will perceive your value to them. What are you doing in your business to create perceived value? You can change it?
6. The principle of consequence.
“Every action has an equal and opposite reaction,” or so my physics teacher at school taught me. If this is one of Einstein’s unshakable laws, then it stands to reason that whatever action you take will have a consequence.
You may not be able to fully control the consequence or outcome, but you can control your reaction. If you want a different result, you need to change your actions that brought it to you in the first place.
If you want to grow your business from $ 100,000 a year to $ 10 million, then you need to take different actions than what you are already doing. So what are they?
7. The principle of a rich mind
It is your mental attitude that will determine your success. As I indicated at the beginning of this article “if you can believe, you can achieve and thus you will receive”
Imagine how you would run a billion dollar business, or even a million dollar one. How different would it be from the way you handle things now? How different would you have to be?
Finally.
Changing the way we think can be extremely difficult for some and almost natural for others; it is the same in all areas of life. But if you are committed and focused by following these principles and practicing them, even for just a few minutes each day, you can shift even the most deeply held thinking to a new level.
Everything is in the mind as they say!
Many thanks to Denise Corcoran for the above. I came across an article you wrote in 2001 a few days ago looking at some old files when I was trying to think of what to write a new post. Did anyone mention synchronicity? I changed it up a bit to include my own thoughts on wealth of mind, but I’m thankful anyway.
