Is this massive entrepreneur mistake keeping you stuck?
Growth is painful. Change is painful. But nothing is as painful as staying stuck somewhere you don’t belong.
Last week I was on a call with an ambitious entrepreneur who is working towards a net income of 10 lakhs a month but she was stuck.
When I shared with her the 4 stages of an ambitious entrepreneur and the massive entrepreneur mistake that was keeping her stuck, she immediately experienced a positive energetic shift even while on the call. She went from fear to courage in no time and in fact she left the call feeling inspired to take bigger bolder actions.
In this blog, we are going to learn the 4 stages of an ambitious entrepreneur and the massive entrepreneur mistake that is keeping you stuck, so that you can get yourself unstuck in no time and start taking bigger bolder actions.
Would you love that?
Now, let’s look into the 4 stages of an ambitious entrepreneur based on their net income.
The first stage is STRUGGLING. This is the stage where there is lack of money flow, the business is either making loss or you have a net income of less than a lakh a month. Your energy levels are low. You know the current financial situation cannot last long and you are desperate for more business.
The second stage of an ambitious entrepreneur is SURVIVING. This is the stage where there is flow of money, you might have been able to break even or you have a net income of 1 to 3 lakhs a month. Yet the money flow is not adequate, you are unable to grow rapidly and you feel frustrated about losing bigger opportunities.
The third stage of an ambitious entrepreneur is THRIVING. This is the stage where the business is profitable and you have a net income of 3 to 10 lakhs a month. You know the business is doing good, yet there are some limitations, you are unable to serve more people and you feel restricted in expansion.
The fourth stage of an ambitious entrepreneur is DRIVING. Wow! This is a beautiful stage where your business is diversified and your net income is more than 10 lakhs a month. You feel fulfilled, you are having a lot more fun and enjoying a luxurious lifestyle. Most importantly, you have the freedom of time.
Were you able to spot the massive entrepreneur mistake that is keeping you stuck?
Before you hear it out from me, for a deeper learning, let’s take Krish who is an ambitious coach as an example.
Krish is earning less than a lakh a month and is struggling to scale up his coaching business.
Now, how can Krish go from struggling to driving?
Krish can immediately move from struggling to surviving if he signed up more 1-on-1 clients. Then from surviving to thriving if he added group coaching programs to his business. He can then move from thriving to driving by creating online products and high-end Mastermind programs, where his involvement in the business is minimal and he has freedom of time. He can move from driving to beyond by developing more coaches and having franchise models.
Sounds simple, right?
BUT…Krish is stuck and struggling, and so are many ambitious entrepreneurs.
Why? What do you think is the massive entrepreneur mistake that is keeping them stuck?
Like Krish, many ambitious entrepreneurs who are still struggling or barely surviving, earning a net income of less than a lakh to 2 lakhs a month, set an ambitious goal of 10 lakhs a month and work towards it.
This is a MASSIVE entrepreneur mistake for 2 main reasons.
#1. The belief system that is required to earn 10 lakhs a month is completely different from the one required to earn 2 lakhs a month. So when you set an ambitious goal, even though you consciously put in a lot of effort, you are unable to move faster because your subconscious mind does not believe it is possible. It quietly shuts down.
#2. Krish has lack of money flow and is already feeling low because of that. But instead of focusing on signing up more 1-on-1 clients which will bring him money right away…. because of his ambitious goal of 10 lakhs a month, he has been focusing on creating online products.
So neither has he signed up 1-on-1 clients nor has he created online products because… online product creation not only requires money, but also a burning vibrant energy, neither of which he has!
Imagine yourself sitting in the driver seat of a high performing BMW wanting to go on a highway in Dubai…with an empty fuel tank and on top of it not knowing how to drive.
How does that look to you?
How does that sound? Crazy right?
That is exactly what happens when you set an ambitious goal and start working towards it without being equipped with a burning energy to drive you and an empowering belief system to support you.
Does that mean you shouldn’t set ambitious goals?
Not at all.
Begin with the end in mind. Know that earning more than 10 lakhs a month and being a role model and inspiration to others is a wonderful possibility in your business.
BUT, for now, focus on the milestones.
Entrepreneurship is not a race to be won,
but a journey to be enjoyed.
At whichever stage you are in that journey, focus on the immediate next stage. Strengthen your beliefs and build your energy, which will in turn help you to take bigger bolder actions.