3 Lessons Entrepreneurs Can Learn From Limiting Beliefs
Strategies for Overcoming Mental Blocks
The major reason you’re not where you want to be could be your limiting beliefs.
If you find yourself constantly consuming information but not taking action, your limiting beliefs may be the root cause. The biggest obstacles for entrepreneurs — even seasoned ones — often aren’t their skills but their relationship with themselves and their ability to trust their capabilities.
If you’re hesitating to invest in yourself or not taking action, it might not be due to a lack of talent, skills, or resources — it could be because you don’t trust your ability to succeed.
In a podcast episode of No Clear Answers by hosts Rikki Goldenberg, Justin Mulvaney, and Corey Wilks, three experienced leadership coaches discussed overcoming limiting beliefs.
Here are my three key lessons from that podcast episode:
The Path to Self-Sabotage and Mindset Shift
Let’s consider a scenario where someone struggles with a skill. Here is a typical scenario a person takes when they are bad at a particular skill, like math.
I suck at math” or “I’m not good at math.
Therefore, I’ll never be good at math.
- You have an initial belief that you suck at math because you had a negative experience or you were intimidated by doing math in high school.
- The beliefs lead to you typically not putting in as much effort because it’s like, what is the point? I’m going to fail at this anyway.
- Then your mindset changes to “people like me aren’t good at math.”
- This mindset leads to behaviours like not asking for help, not studying hard, not putting enough effort into homework, and avoiding group study sessions — eventually reinforcing the belief that you’re bad at math.
- Your lack of effort creates a situation where you actually end up failing at math.
- It becomes a self-fulfilling belief that I suck at math. Well, then you get to the point where you do suck at math because you never tried to be better at math.
Many entrepreneurs struggle due to limiting beliefs. For example, they might think, “I’ve tried before and failed,” or believe they’re not ready, leading to half-hearted efforts to start businesses.
Your lack of effort and subsequent lack of success becomes a self-fulfilling prophecy — you are in your way, and your mindset and actions create obstacles to your success due to your limiting belief.
Pro tip: Your action plan
You need to shift your mindset when learning any new skill. You need to rewrite the personal narratives in your mind.
- Math is a learnable skill. As you start to learn any new skill like math, you will suck at the beginning because you suck. It’s normal to struggle at first.
- Math is a learnable skill, and it’s normal to struggle at first.
- But reframe your thought that “I’m not good at math,” and add the word “yet.” “I am not good at math yet,” the word “yet” is important.
- Start believing you can learn, practice, get feedback, and improve by just 1% daily.
- Keep practicing math, and then you will suck less at math.
- And then you would suck a little less at math until you would finally become good.
- With persistence, you might even become great at it one day.
Reframing your mindset takes practice, so write down your new beliefs and review them regularly — daily, weekly, or monthly. Use this as a checklist to shift your mindset and take action.
This approach applies to any skill, whether writing, reading, swimming, public speaking, entrepreneurship, or sales. Just replace “math” with whatever skill you think you suck at.
Confirmation bias reinforces limiting beliefs
Confirmation bias is the tendency to seek information confirming your beliefs or perceptions.
For example, if you’re an entrepreneur starting a company and frequently read about businesses that have started and failed, it can reinforce your doubts about your company’s success.
Over time, this can shape your reality, influencing your actions and decisions, even if it’s not based on objective facts.
Pro tip: Recommended approach
Surround yourself with people, coaches, mentors, books, and podcasts that push you toward your goals, whether starting a company or overcoming challenges.
Seek voices encouraging you to persevere, learn from failures, and continue working toward success.
Limiting beliefs can become a comfort
You should always take extreme ownership of your situation.
Don’t hold onto limiting beliefs because they provide comfort. When you believe you have no control, blaming external factors is easier than taking responsibility.
Playing the victim allows you to avoid responsibility, making it convenient to attribute your lack of success to unfair circumstances.
You might think, “If only I had what others have — money, intelligence, resources, connections, a great family — things would be different.” But this belief leads you to close off opportunities and put in half-hearted efforts, inevitably leading to failure. When that happens, it reinforces the belief that the world is against you.
Pro tip: The path forward
Remember the fastest man on earth, Noah Lyles. He didn’t let life circumstances define him; despite all the disadvantages, he won gold at the France 2024 Olympics.
The reality is that beliefs can outweigh facts, so be mindful of the beliefs you hold onto. Your beliefs can limit or push you to achieve more than you thought possible.
Stop clinging to limiting beliefs that have become part of your identity. Start recognizing them as limiting — don’t see them as your truth or reality. Stop using excuses like ADHD or other limiting beliefs for not trying or pushing hard on goals that matter to you. You can adapt and find ways to overcome obstacles.
Final thoughts
You are ready to challenge your beliefs and recognize that success often requires persistence, volume, and experimentation. Trust the process and embark on figuring out what works for you. Don’t let your limiting beliefs hold you back.
Now, listen to the fastest man on earth: What you have doesn’t define what you can become.
Go out there and change the world.
***
Affiliate Statement: For more information on overcoming limiting beliefs, purchase Corey Wilks’ course Build an Intentional Life. I’m a legitimate customer and can’t be happier spreading the word. If you purchase one of Corey Wilks’ courses, I’ll receive a small commission for the referral. This does not affect your price in any way and has not influenced my opinion of Build an Intentional Life — It truly is worth every penny.
Do you want to stay in touch? Join my E-Mail List.
