I’m finding that I write about business psychology more than any other topic.
It’s an elusive and slippery topic.
For example, do you think in terms of abundance? Or, do you believe there isn’t enough to go around?
When you have a goal, do you see it so clearly in your mind that it would be impossible for that goal not to come true?
Do you use the right language, even in your own thoughts?
I was mentoring an entrepreneur the other day who had a deal she was putting together to purchase an international vacation home.
She wanted mentoring on the mechanics of the deal. The numbers. The Terms. A review of her offering brochure, etc. I don’t believe she expected me to get inside her head, or thinking, as much as I did.
She wanted to make 10 small units available to her friends. This equals 10 new partners — do you know what a “PITA” is?
I encouraged her to think in terms of 2 to 3 partners. These partners would bring substantially larger chunks of cash to her deal. In addition to simplifying the deal, this would greatly reduce the PITA factor.
Do you see the difference in thinking here?
By asking for much bigger dollar amounts, from fewer potential partners, she had to overcome some personal fears.
The fear people would say “no”.
The fear her deal wasn’t good enough for someone to invest a substantial amount of money.
A lack of “abundance” thinking.
Why have 10 partners when you could just as easily do the deal with 3?
As an entrepreneur, you not only need to monitor your own thoughts — your mindset — you have to be aware of what other people are thinking and you need to be cognizant of the fact that you influence that thinking.
My friend with the deal was prepared to offer a 44% return, a return I think her deal may deliver. But, what if the deal returns 25%? This would still be a great return, especially in view of the other perks to the partners.
In this scenario, the problem my friend would have is the investors heard 44% — 25% will seem, in their minds, to be a losing number.
“What happened to 44%? We lost money!”
How you think influences everything.
Your personal outcomes.
The expectations of your teams and partners.
Your ease of doing business.
Theresa Bradley-Banta, co-creator of bigfishtopdogs.com, is a musician, award winning graphic artist, blogger, chief figure outer and owner of multiple businesses. She coaches and mentors entrepreneurs from startups to developed businesses.
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