Welcome back to the series! In today’s lesson I have a question. When the economy goes south how do you respond? Do you entertain thoughts of closing up shop?
Million-dollar small businesses have another viewpoint. In hard economic times they see opportunity not failure. Yes, they see the reality of the market. But they have a “second eye.” This eye helps them see the way out.
The “Profitable Mindset”
Seven-figure small business owners I talk with have a “profitable mindset.” It says…
“I create my own economy.”
Think of the power of those words! Saying them means this. You have the power to choose how much money you make. Not your external circumstances.
How do you develop this mindset as a business owner?
Developing Your Belief
Here are 5 steps 7-figure small business owners use to create their economy. More are involved, but I these five will get you going.
Step #1: It’s Up To You
I have a relative who runs a profitable cleaning business. His clients are cities and municipalities. Despite having contractors and temporary employees, guess what?
Each day he gets up his mindset is simple. It’s up to him to make money today. Why? His performance determines his results.
Step #2: Get It Done
I love it when someone tells me I can’t do something. It’s too hard. It will take to long. They don’t realize what 7-figure small business owners know.
I determine how much I will get done in a day. I also have the power to get others to help me do it. This is where delegation and creating a team comes from.
If necessary, you hire who you need to get more done. It allows you to focus on other important tasks.
Step #3: Don’t Believe the “News”
In the documentary about the making of the movie “Animal House”, Kevin Bacon tells a short, but insightful story.
He shares how during his career, people told him projects like Animal House wouldn’t succeed. Each time Kevin did the projects anyway. The result? He’s been in successful movies such as “Footloose” and others.
The opinion of others is what I call the “News.” Like most media, they believe they can see what you don’t. Most of these people are not small business owners.
Follow your dream. Not the interpretation of your dream from others. You have the power to create the income and success you want; Despite the “News!”
Step #4: Save Money
When I was boy, I didn’t like a simple, yet powerful financial lesson from an Aunt. She sat back in her chair and told me…
“It’s not what you make it’s what you save.”
Seven-figure small business owners save money. Those “rainy days” will come. And sometimes they bring “hurricane-force winds” with them.
Step #5: Keep Growing
For these small business owners growth does not stop. Something can be improved. Products and services can be replaced. Without growth you may not go for lucrative contracts. You will stagnate and get passed by.
Keep growing yourself and business. Your big opportunity is closer than you think. The question is will you be ready to take advantage of it?
Clyde McDade is the author of the upcoming eBook, The 7 Profitable “Word-of-Mouth” Marketing Secrets of Little-Known Small Businesses.