Business struggle comes not from a lack of effort but from the lack of a winning mindset. Entrepreneurs often put in a lot of blood and sweat in their businesses and still face the dissatisfaction of where it all went wrong. A lot of times people end up fussing over complicated marketing strategies and technical tactics to succeed but do not keep in mind the proper mindset needed to chalk a name in the game. An abundance mindset is one of the important determinants of success. It takes individuals from a continuous struggle to a thriving attitude.
A lot of entrepreneurs run their startups with a mindset that screams out scarcity. Now, the thing is that having a mindset which reflects scarcity causes individuals to overlook so many resources and opportunities. People play the game not to win but instead not to lose which takes away a lot of growth opportunities. For example, if you run a business with the mindset that the playing field has limited resources then you will put in efforts in the wrong domain. The real entrepreneurial spirit focuses on seizing the opportunities that help in business growth instead of mingling in unnecessary details. It’s time to reflect on your mindset and see if things aren’t going well?
The answer to your inner reflections is abundance! Many entrepreneurs who are successful possess an abundance mindset that looks at the world as a place with limitless opportunities. The aim is to make a positive impact. One of the most important factor of practicing the abundance mindset is
Working with competitors
Many entrepreneurs look at their competition as mortal enemies instead of individuals who happen to be in the same line of work. By moving to protect the business the bigger picture of the market gets missed. The abundance mindset shifts viewpoint of competition as people who provide even more opportunities. Gordon Geckos and Wolves of Wall Street are examples of how working with competitors brings out more profits in the long run. The real question is not how to take away the competition’s existing customer base but how all of this can work in a mutual benefit.
It is an excellent start to study the competitors in the business. This will help in understanding how they provide their services to the target audience. A unique venture with your business competitors might provide more value to the business than sole operation of the business. Competition is nothing to be feared of and it is better to eliminate the “they versus us” approach. In fact, form amiable terms with competition and many budding entrepreneurs will be surprised from what they learn.
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