8 Biggest Limiting Beliefs of Young Entrepreneurs

Young entrepreneur limiting beliefs

No matter how hard you run, where you hide or how successful you’ve been, there is no escape. That voice! It follows you. That annoying, overprotective, whining, critical voice that can not be lost because it’s IN YOUR HEAD!

The voice has a very distinct language. It’s favorite phrase is “yeah but.” For example, “I just received the highest score I’ve ever gotten in this subject. Yeah but if I hadn’t made that stupid error it would have been perfect.”

I would love to tell you that there is a way to completely get rid of the voice, but then again, there are occasions when it is useful. Without it, you’d probably be dead. You would be too carefree and would never know when to stop.

This would lead to potentially bankruptcy, broken relationships or death through poor attention. If you don’t have a critical voice inside your head, you’ll get run over. That’s why you don’t let young children cross the road or pretty much do anything that isn’t supervised. A lot of times adults talk about a desire to feel the simple happiness of a young child, but you would be hard pressed to hear them ask for the unknowing stupidity that goes with it.

So the first thing you need to be aware of is as annoying as that critical voice is, it’s there to protect you. It does not want you get hurt, or to fail. However, you must fail to eventually succeed. We learn primarily through trial and error. Hence the dilemma. Successful people are those that fail the fastest. They just keep going until they figure it out.

The risk is over time, these critical thoughts solidify into limiting beliefs where the once protective mind becomes overprotective and restrictive. There are numerous ways to deal with limiting beliefs. One method is simply to become aware of them and challenge them through re-framing. Re-framing simply means to create a new empowering belief to challenge and replace a limiting belief. There are 8 limiting beliefs I come across again and again. Re-framing them will be the focus of today’s post.

 

1. I’m not good enough

You know what, you’re right! You’re not good enough. If you were, you would already have whatever it is you are working towards. The point is, no one is instantly successful. No one is good enough in the beginning. It’s a process. Therefore, one way to directly challenge this belief is…

Re-frame: My competence grows with each practice session. 

 

2. I don’t deserve it

Why not you? Why does some other chump deserve the win more than you do? The way I see it, everybody (except for the truly troubled and cruel) deserves a great life. Everybody deserves to win. Now of course, not everybody will, which means when you do get a win, it should be doubly celebrated. The trouble of course is guilt. Somewhere along the line you were taught others deserve more than you because they worked harder or are more disadvantaged or whatever. Rubbish! If they get a win, great, good on them. If you’re smart, you’ll pay attention to what they did so you can do better next time. If you get a win, even better, good on you! It’s that simple.

Re-frame: Whether I win or not, I deserve success. 

 

3. I’m a failure

If you were a failure, you’d be dead by now. As long as you’re breathing and moving, there is only one way to fail and that is to stop trying to learn. Now it’s actually pretty hard to stop learning. Considering we are designed to learn, you would actually have to interrupt your very nature in order to attempt to do so. The only sure-fire way to do that is to die. It’s never about failure, but rather how you perceive the learning process.

Re-frame: I’m a learner (and a pretty darn stubborn one too). 

 

4. I don’t have the money/time/resources

Neither does that guy, or that girl, or that annoying 15 year old kid tinkering in his or her parents’ shed and on their way to becoming a multi-millionaire. It’s never a question of money/time/resources but passion, perseverance and resourcefulness. There is always time if you want it bad enough and are patient. There is always a way to find more money/resources if you keep connecting to more and more people and are patient enough. The key is patience and perseverance. Both are essential traits.

Re-frame: I will consistently work at it and find the money/time/resources.

 

5. I’m going to get laughed at.

Yes, yes you are. If not laughed at, then ridiculed in some other way. There is an a-hole in every bunch. However, also realize it’s a lot rarer than you think. Most people, and hopefully that includes the ones closest to you are supportive. The question is what does it mean. The answer is what people say about others is much more a reflection of them than of the person they are referring to. In other words, them laughing is more about them attempting to mask their own fears and inadequacies than yours.

Re-frame: The people that matter will appreciate and respect my efforts. 

 

6. I won’t be able to maintain it if I am successful

This ones a doozy. Welcome to the strange world of self-sabotage. Self-sabotage is based on a real problem, being that maintaining and growing success takes more effort and sustainable growth than the initial achievements. It’s hard work! So the critical part of you in its constant effort to protect you may try to get you to fail because it will be easier in one sense, but of course disappointing in the grand scheme of things. The key here is to remember that you are deserving and you are built to learn. Otherwise you never would have succeeded in the first place.

Re-frame: The first time is the hardest. If I’ve done it once, I will be able to do it again and again…

 

7. I could lose everything

Too true. But then again, lot’s of things could happen to you. You could be struck by lightning or picked at random to win a prize. The next person you meet may become your best friend or someone who is trying to take advantage of you in some way. Who knows? I don’t think it has to be about winning or losing, but rather a careful consideration of risk-to-reward. You take a risk every time you leave the house and sometimes by staying in it. What you really want to consider is “do I want this and what is the smartest way to go about it?” My motto is always follow your dreams but cover your responsibilities. Take as many calculated risks as you can but never risk more than you can afford to lose.

Re-frame: I will always seek a healthy balance between risk and reward and cover my responsibilities.

 

8. I don’t want to feel alone

I respect your honesty. The truth is, humans are social creatures, and the decision to go off and work on things (often by yourself) is a difficult one to make. However, by taking those sometimes lonely leaps of faith you get to finally learn how to rely on the most important person in your life. Yourself! You learn that you are more resilient than you thought and that you can cope. It’s a crucial lesson that must be learnt. Self-reliance is an extremely attractive trait. Ironically, this also tends to improve your relationships because you become more appreciative and efficient with the time you do have with others, and of course, less in need of their approval.

Re-frame: I will become comfortable with my own company and make the most of my time with others.

 

There you go. 8 limiting beliefs and powerful example re-frames to consider. If you have any other beliefs or re-frames to add, feel free to do so below.

 

One Response to “8 Biggest Limiting Beliefs of Young Entrepreneurs”

  1. Greg Vinson

    Very insightful article Aleks. I’m glad you made me aware of it, and look forward to exploring more of your thinking on the personal psychology strategies that can support success and a satisfying life.