8 ways to have the right mindset for growth 

The media makes pretty grim reading right now. Open any newspaper and you could be forgiven for thinking that the UK is doomed. 

With the UK in crisis, now is the time to look at opportunities to tighten up the finances of your own business AND look for opportunities to grow your business. When the economy is in recession there are actually more opportunities to grow your business than when the economy is buoyant.

The only thing holding you and your business back from growing right now is you. To help you move your business forward during this turbulent time, here are 7 mindset shifts you need to make.  

  1. Make peace with your reality

Suffering is what happens when you resist what is already happening. The sooner you confront the current reality and accept it, the quicker you can move past it. 

  1. Hold yourself accountable 

If you want to grow, you need to think of the acronym R.O.A.D. You need to take Responsibility for the choices you’ve made, you need to take Ownership of where you want to go, you need to start taking Action, and you need to be Decisive. When making your strategy plan, be 100% accountable for putting it into action.

  1. Don’t compare yourself to other businesses

Some businesses are struggling, others are thriving. Don’t compare yourself to either. Every business owner, firm, and situation is different, so don’t disrupt your focus with doubt.

  1. Prioritise delivering value 

Concentrate on delivering exceptional service to your current clients or customers. How can you offer extra value during this time? This will make you invaluable and it will ensure that you stand out from your competitors.

  1. Focus on your strengths (not your ‘failures’)

What work are you good at? What do you love to do the most? Which clients/customers are your favourites to work with? Being positive during this time is essential, so focus on what you love and reflect on your principles and values. Rediscovering why you do what you do is very powerful when it comes to self-motivation and drive. 

  1. Fail fast and achieve quickly

Inaction is the worst thing you can do, not trying something and failing. During a time of such change, don’t procrastinate and don’t be a perfectionist. Take action, fail fast, learn from your mistakes, and concentrate on getting there first (not doing it perfectly and getting there last).

  1. Be grateful and become self-aware

Practice gratitude every day by thinking about what you are grateful for both now and in your future. Also, take time to reflect and to rediscover your purpose. If you’re confident and happy, you will attract similar clients/customers.

  1. Know your numbers

Your numbers really do tell a story. If they are up-to-date you can use them to see how your business is really performing. Not knowing your key numbers such as profit, expenditure is the quickest way to paralyse your decision making and stifle your business’s growth. If you need help to truly understand how your business is performing, then get in touch with us.

Adapt AND adopt 

We have all had to adapt to some degree over the last few years of the pandemic, for example, being forced to adapt to working from home. Changes such as these are necessary to our ‘survival’ during this time.

With that being said, however, it is the business owners who have both adapted and adopted changes of their own, who have thrived. These are the individuals who make quick and effective decisions, who take responsibility for changing their situation, and who take action. 

Anyone can grow their business during a recession, they just have to have the right mindset.

If you would like help with the matters raised in this article please call us on 020 3915 8585 or email us.