No one wants to hear they are going to fail at building their new business into their empire. It’s basically an entrepreneur’s worst nightmare. You’ve discovered a skill and a market that needs your skill, and you have the drive to succeed. But there is still something you need to build your empire: the right mindset.
Even if you have the drive to build your empire, you could still be missing the right mindset. Drive can often be deterred when the work gets really difficult.
And being the ruler of your own empire is not easy.
Entrepreneurs are known for their dreams and ambitions. But there is a reason first-time entrepreneurs have a success rate of only 18%. They have dreams, and they think they have the ambition to succeed. But when times get rough, they realize they don’t have the mindset tools to survive.
Or they had a great idea but failed to give themselves the tools to scale their business. Or they failed to implement online growth tactics.
The good news is that you do not have to be one of those entrepreneurs.
You can improve your mindset. You can overcome difficulties faced by business owners who were looking to build an empire. And you can learn the tools you need to scale your business. Then, you can see your goals become a reality, but we’ll get to that.
Your mindset is what’s holding you back.
How you interpret learning moments and how you view your business is crucial. If you’re not looking at your business through a learning-lens focused around long-term growth and success, you will never take the steps to get there.
So if you do not keep your mindset in the right space, you will fail to build your empire.
The Impact Your Mindset Has On Building Your Empire
Your mindset dictates how you view your business and the world. If your mindset is negative, you will view your business negatively.
That’s why successful entrepreneurs avoid giving voice to negative thoughts.
What your mindset focuses on is what will manifest in your life. Our mindset dictates our ability to dream, to focus on the future, and to plan.
As an entrepreneur, this is extremely important for you.
You started a village. You found the perfect place to build homes and plant crops. Maybe you convinced some people to join you. You were able to sell your idea of a village to them. But now, you can either stop there or dream about the future.
An entrepreneur will not only dream about building their village into their empire… they will give themselves the tools to do so.
But there will be bumps and difficulties on the way. Your mindset not only dictates how well you can envision your future but how you approach those problems.
Do you let them deter you? Or do you let them inspire and build you?
It is critical that you approach these moments with a growth mindset if you want to build your empire.
Why You Need A Growth Mindset To Build Your Empire
When it comes to your mindset, in this regard, you essentially have two choices: fixed or growth.
Those who approach life with a fixed mindset will often find themselves trying to dodge events they may fail at. When they come across a problem, they get frustrated. They run away. They cheat. And they compare themselves to others who are doing worse to feel better.
But when people with a growth mindset come across a problem, they engage with it. If they fail, they learn from it. They are able to thoroughly process what happened and what went wrong. And they avoid the comparison trap because their worth is not based on others’ failures.
So what do you do when you face a problem?
This is an excellent indicator of your mindset. And if you are realizing that you’re approaching life with a fixed mindset, you can adapt it.
Because the reality is, you are going to come across problems.
So instead of focusing on the outcome, look at the process. Create goals that look at how you got somewhere and what you learned. Acknowledge the small successes so you can continue to learn.
If you are continually beating yourself down for failure, you will never learn.
And it impacts how you view your business.
How can you build your empire if you think you’re constantly failing?
Every project doesn’t succeed. Every client doesn’t stick. And if you only view your business based on a few Key Performance Indicators (KPIs), you’re going to view yourself as a failure. Especially at the beginning.
So remember, your mindset is crucial in dictating how you view your business.
The Impact Your Mindset Has On How You View Your Business
Conquering a growth mindset is a great start in building an entrepreneur’s mindset. This mindset will help you face problems with a solution based attitude.
But now you have to translate that into how you view your business.
When you look at your business, what do you see?
If you are going to be uncomfortably honest with yourself about something, this is the moment. When you talk about your business to yourself, do you speak about it like it’s already failed? Or like it’s “just” a side-hustle?
That’s like the founder of the village looking at the houses he built and the fields he sowed and saying, “This is just a place to live.”
You need to shift your mindset to a growth mindset so you can learn from hardships. But you also need to shift how you view your business so you don’t discourage yourself. If you’re viewing your business as “just” a side-hustle or extra income with no room to growth, your business will not grow.“Mindset defines how your empire will grow.” - Dan Lok Click To Tweet
It’s easy to dream. The simple thing is to say, “One day, I will be making $100,000 a year while working part-time!” And then keep that goal in the “hopes and dreams” box while not taking any steps towards it.
But if you never start taking steps, you will never move.
Your village will stay a village if you don’t decide that it needs to be bigger. Once you make that decision, you will start building and growing.
To start that process, you need to know how you see your village. You may look at your village and say, “Well, I like it here. I think we’ve got some good people, and we’ve got some things that no other village offers.”
But you need to be a raving fan of the future of your village. You need to believe in its growth.
In your business, you need to believe it’s more than a hobby or a side-hustle. You need to believe in yourself to take it to the next level.
And you need to believe that you can build it into an empire.
And once you have your view about your future, you need to set goals to get there.“If you don’t know where you are going, you will probably end up somewhere else.” - Lawrence J. Peter Click To Tweet
So decide where you want your business to be. And then set the right goals to get there.
Why You Need To Set Goals (& How To Do Set Them Correctly)
Goals give your business a direction. Plus, they can help you shift into a growth mindset as you focus on the successes throughout the process.
And there is a right way to set goals so you can actually achieve them.
This four-step formula will help you hold yourself accountable to your goals. So you can make sure that you are constantly moving towards building your empire.
Step #1: Set Your Goal
First things first: have a goal. There are specific ways you should set your goals, but we’ll get to that in a moment.
And it’s not enough to set your goal, you need to write it down. You need to keep yourself accountable by writing down what you want your empire to look like.
Step #2: See Your Goal
Once you write your goal down, you need to be able to physically see it. Keep your goals posted in your workspace or on a bathroom mirror. Put them wherever you are going to see them daily.
Pro-tip: You will get complacent if you see them in the same place all the time. So move them every week. Change their placement so you will continue to notice and acknowledge them.
Step #3: Live Your Goal
This is the inspiration part. Don’t get caught in just writing down your goals and not giving yourself the motivation to achieve them.
So what is it that you want?
Perhaps it’s to leave a full-time job and to turn your side hustle into your full-time business. Take a week vacation from your job and focus entirely on freelancing. Let that be your inspiration to see what your life could look like.
If your goal is to earn a certain amount of money to be able to live in a certain type of house or drive a car, then recognize that. Rent your dream car and drive it for a day. Find a similar house on AirBNB and spend a night in it.
This manifestation is important. It is the inspiration to strive towards your goals every day.
Step #4: Share Your Goal
Lastly, you need to share your goals with someone who is trusted. Plus, someone to hold you accountable. When goals only belong to you, they can be warped or changed when the work gets hard.
But someone who can hold you accountable won’t let you do that.
Even if they are not actively checking in on your progress, knowing that someone else is aware of your goals is a great motivator.
But one of the best ways to motivate yourself is knowing you’ve set the right goal for you.
How To Decide Between SMART Goals And Stretch Goals
To build your empire, you need to set the right type of goals for yourself and your business. A good way to start is choosing between a SMART goal and a stretch goal. Neither is a wrong choice, but one may be more appropriate for you.
A SMART goal is one that is measurably attainable. SMART is an acronym for:
For example, a generic goal would be, “I want to earn more money.”
But a SMART goal would be, “I want to earn $100,000 in the next 12 months with my business.”
The goal is specific as it does not leave any wiggle room.
It’s measurable as it lists a number.
And depending on where your business is, it may be achievable. If you’re currently earning $30,000 a year with a low-income offer, it may not be achievable. But if you give yourself the tools to scale, it can become achievable (and we will offer you those tools in a moment).
But it’s relevant, as it’s reasonable and related to your business.
Lastly, it’s time-bound. There is an end date.
If you’re new to goal setting or risk-averse, this is the best type of goal for you. And if you’re struggling with a transition into a growth mindset, this could be the better option for you.
These goals tend to be more realistic and focus on achievability.
A stretch goal is appropriate for those who are ready to aim high but possibly not make their goals.
Stretch goals are larger than life goals. These goals aim for the moon, so the goal setter needs to be ready to fall among the stars if they don’t make it.
Those who set stretch goals are focused on explosive growth. This is not a bad thing. But the goals can be unrealistic at times, so those who set stretch goals tend to be more focused on the process.
They have a growth mindset.
And stretch goals are good motivators if your business has the resources to attempt them.
But stretch goals are best used in conjunction with smaller SMART goals. A combination of the two can help you successfully set your goals.
Your stretch goal may be long term. For example, your stretch goal may be to have $10 million in your retirement fund by the time you are 50 years old. (And note that this stretch goal is still technically a SMART goal as it meets the measurability criteria while being time-bound.)
But you may have a number of short-term SMART goals:
- “In my first 6 months of business, I will acquire 5 new clients a month.”
- “After a year of business, I will raise my prices by 10%.”
- “By 6 months of business, I will be making $6,000 a month pre-tax from client work.”
These goals are much smaller and more attainable. And they are short-term. So if you are looking to shift into a growth mindset to build your empire, this is a good way to start.
Having short-term goals will help you focus on the process of growth over the end result.
These small steps will help you start moving towards building your village into your empire. But you can’t stop at setting goals, you need to give yourself the tools to scale your business to meet them.
How To Build Your Empire… Starting Now
To scale your business, you need a system. And the best option is to use a system that is proven to work, so you don’t spend years trying to figure it out on your own. The good news is that millions of entrepreneurs have come before you to test out these systems. And there seems to be one that works.
It involves having three secret pillars in their business.
They have a system that generates monthly traffic automatically. They are able to do this through a solid marketing plan, using best practices to keep traffic coming.
Once they have traffic, they make an irresistible offer to transform leads into prospects.
And finally, they have a tried and true process to make those prospects into paying customers.
What exactly the system, offer, and process are will differ from business to business. So you need to determine what each of those pillars looks like for your business. And then you need to implement them to scale your business online. And experts agree, the future of business is online.“If your focus is not on building your business online, you will hurt.” Click To Tweet
So what can you do to build your empire?
You can learn best practices and marketing techniques. Because if you implement them correctly, they will work for you.
The only thing stopping your business from scaling is your mindset about your village. Do you believe your business could be built into an empire? Then, you need to give yourself the tools to scale.
The High Ticket Influencer™ program that Dan Lok created does just that. This tool provides you with strategies to maximize your Personal Media Platform, create those enticing offers, and remove yourself from the small day-to-day minutiae, giving you the freedom to scale.
What is holding you back?
You can scale your business. You can meet your goals. Even the stretch goals!
You can build your village into an empire.
You just have to start.
So take that first step to build your empire.