Limiting beliefs: Risk-Taking in business
“Whether you think you can or think you can’t, you’re right” (Henry Ford). What are your limiting beliefs? I found that experiencing positive change through a journey of self discovery has an effect on one’s limiting beliefs. It can play a big role when taking risks in business, find out why in the article below.
What are limiting beliefs?
Many people believe that taking risks is essential to success in business. After all, without risk there can be no reward. While it is true that some risk-taking is necessary in business, it is also important to be aware of the potential danger of making decisions based on limiting beliefs.
A limiting belief is a belief that limits your ability to see other possibilities or to take action. For example, you may believe that you need to take huge risks in order to be successful. This belief may prompt you to make risky decisions without fully considering the consequences. As a result, you may end up putting your business in jeopardy.
Alternatively, you may believe that taking any risk is inherently dangerous and should be avoided at all costs. This belief may lead you to play it safe and miss out on opportunities for growth and expansion.
“I’m not a risk-taker.”
“I’m not an entrepreneur.”
“I’m happy working for a stable company.”
“I’m not the type of person that would start their own business.”
Limiting beliefs are easy to see in others – especially in my line of work. How frustrating it is to see abilities in others that are never unlocked because they think, “That isn’t me!” Yet how often are we guilty of putting the same limitations on ourselves?
What are some examples of limiting beliefs?
There are many examples of limiting beliefs that can hold us back in life. Do you sometimes have that feeling that you are not good enough or that you are not capable of achieving your goals?
Limiting beliefs can be based on our past experiences, our upbringing, or what we have been told by others. They can also be a result of our own negative self-talk. Whatever the origin, these beliefs can limit our potential and prevent us from living a fulfilling life.
Over the years I have seen many participants break through these barriers, and I have achieved success on my own terms beyond my original expectations. Yet I was still limited by the mantra at the start of this article. This isn’t a problem if you are fulfilled by the direction your life is going; everyone has different motivations.
However, if there is somewhere you want to go, and your limiting beliefs are getting in the way, the most powerful question is always “Why?” Whatever your initial responses are, keep asking yourself, “Yes, but why?”
Once you change your mindset, take the next small step. You don’t suddenly become a risk-taker, you take just a bit of risk. You don’t become an entrepreneur overnight, you do just a few things that are a bit entrepreneurial.
How do you get rid of limiting beliefs?
The key to getting rid of limiting beliefs is to strike a balance between risk and caution. Make sure that you are taking risks based on sound information and a well-thought-out plan. Don’t let your limiting beliefs hold you back from achieving your business goals.
Of course, risk-taking can be scary, and it’s easy to let your fear of failure hold you back. If you want to be successful in business, it’s important to identify your own limiting beliefs and find ways to overcome them.
limiting beliefs: 3 x exercises
Overcoming limiting beliefs is having a different mindset, but it is also working on yourself and developing as a person. Exercises help to achieve this. These are my 3 go-to exercises that help to overcome limiting beliefs:
- Recognize that your beliefs are just thoughts, not facts. Just because you think something doesn’t make it true. Second-guessing yourself is normal, but don’t let your doubts take over.
- Challenge your beliefs. Once you’ve identified a limiting belief, ask yourself if it’s really true. Is there evidence that contradicts your belief? What would happen if you took the opposite approach?
- Take action, despite your fears. The only way to overcome a limiting belief is to take action in spite of your fears. Make a plan and take small steps towards your goal.
We have seen that if you experience achieving success, your self-doubt will start to dissipate. Just to let you know, I was 50 when this process started. I took a risk. We started our own company. So what’s next? And what is next for you?
If you would like more information about business coaching and our programmes, click here or contact us to explore more about the ways we can help you and your business.
