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7 Common Mindset Mistakes That Can Limit Success in Entrepreneurship


Making mistakes is a part of entrepreneurship. Mistakes in product development, hiring, and even the business model are things entrepreneurs must experience in order to grow. However, there are some mindset mistakes that many entrepreneurs avoid. Unfortunately, not dealing with mindset mistakes can not only damage your business but also make your personal life more difficult as well.

Why do so many entrepreneurs focus on fixing their businesses without making an effort to adjust their mindsets? Some of this may be because of the nature of running a business. You have to take care of so many different aspects of your business that your mindset often gets overlooked. 

However, the truth is, taking care of your mindset is one of the best ways to ensure you are in a peak position to help your business grow. In this article, we’ll look at seven mindset mistakes that can limit success in entrepreneurship.


1. Fixed Mindset

A fixed mindset is a mindset where a person believes that their qualities are fixed traits that cannot be changed. This mindset limits your views and can cut you short of dreams before you even give them a chance. Characteristics of a fixed mindset include avoiding challenges and seeing obstacles as a reason to quit. A fixed mindset is a stark contrast to a growth mindset which sees traits and talents as something that can be improved upon.

The good news is that you can learn to switch from a fixed mindset to a growth mindset. Look at the ways you can practice a growth mindset. Take baby steps. Remind yourself that you CAN do this. Just like all of the negative thoughts have added up over time, so can the positives. But you have to be willing to put in the work to change your mindset.

Start by taking on a new, small project. You can also take an online course in something you enjoy. Make a contract with yourself that you can’t quit or there will be a consequence. Work on encouraging others and seeing that you can all be successful. These things will help you adjust your mindset so that you can foster growth in your business and life. 


2. All or None Thinking

I can either, “fail or succeed,” “you’re either with me or against me,” “it’s my way or the highway.” These mantras have an all-or-none mentality. When it comes to all-or-none thinking, there is no in-between. This can prove detrimental because we only see two ways of doing something, which isn’t fair or beneficial. As you know, the entrepreneurial world has many ups and downs. If we limit ourselves to only seeing it as failing or succeeding, then we are closing our eyes to our endless possibilities and opportunities.

Find a middle ground in your thinking. In this way, it will calm the mind and not make everything so black and white. We will see that there are more sides to an argument, and that can make us more open-minded to some great ideas and results.


3. Overgeneralization

According to Dr. Pucci, the two words that go along with overgeneralization are, always and never. Just thinking of those two words already pulse anxiety and panic through my nerves. “I can never achieve that,” or “my business partner always yells at me,” are examples of overgeneralization thinking. Those two words are extremely detrimental to our perception of ourselves and our world because it exaggerates our reality.

Use the words “always” and “never” carefully. You can also avoid overgeneralization by taking people and things on a case-by-case basis. Be sure that you are breaking down the situation in a non-exaggerated way.

For instance, think about saying that you are “always” being yelled at by someone. In reality, that person may not yell at all, in fact, you may realize that you two just bump heads here and there. If we really look at what we are saying and the situation, we can then begin to understand that much of our reality is based on what we think it is.


4. Jumping to Conclusions

This concept includes both the idea of mind reading and fortune telling. While we are unable to predict the future or what others are thinking, our mind likes to think otherwise. Both methods prove fruitless, as we never know what someone is truly thinking or how they will react to a situation. If we jump to conclusions right away, then we may hold back in asking a question or for help. This is often because we fear what others will think, what they will say, or how they will react. In our mind, we already “know” what their reaction will be.

Imagine if a detective or a judge jumped to conclusions before they arrested someone or handed out their verdict. Our jails would probably be full of many innocent people. That is why they must look at all the facts before they rule on a decision or form an opinion on something. The same holds true for you as a business leader as well. Take your time, and look at all the facts before you make any decision, big or small.


5. Irrational Labeling

These labels can include ones such as perfectionist, idiot, or people-pleaser. While labeling is necessary for our everyday life, there are some labels that we can never fully attain. No one is perfect. So, to say you are a “perfectionist” means that you are placing an irrational label on yourself and your mind. How can we be proud of our work or ourselves if we are setting ourselves up for a goal that can never be reached?

You must rationalize what is truly a label and is our need to label something in an irrational way. While you may like to call yourself a “neat freak” or “people-pleaser,” try thinking of an alternative way of explaining your sense of self. “I like a clean space”. Or, “I like to make sure that people are comfortable in my company” are great ways to share a little about yourself without putting an irrational label inside someone else’s head or your own.


6. The Magical “Shoulds”, Mindsets

We all know the saying, “should of, would of, could of.” The magical shoulds can put a damper on our minds, and really bring us down. Think of just some of the examples in which we use the word, “should”:

“She should have known better.”

“I shouldn’t have yelled at them like that.”

“We should have gotten that client instead of our competition.”

The word “should” is a way for us to ignore the fact that all the necessary ingredients to create our undesirable situation are all present. In other words, you are choosing to be ignorant of the reality of the situation rather than accept it. The magical shoulds make us feel much more angry, sad, or distressed over a situation than we need to be.

Try replacing the word, “should” with “wish” sentiments. In doing this, we are accepting our reality and the situation, and take ownership of how we can improve our reactions if a similar situation arises in the future.

“She should have known better.”

I wish that she wouldn’t have done that, but what’s done is done, and all we can do is learn from our mistakes and move on. “

“I shouldn’t have yelled at them like that.”

I wish that I hadn’t yelled at them like that, so next time I will be sure to speak my mind before I completely lose control of my emotions.

“We should have gotten that client instead of our competition.”

I wish that we had won over the new client, but everything happens for a reason, and all we can do is our best and to never give up.”

As you can see, the situation didn’t change, just the reaction and thought process behind it. When you let go of the shoulds, you soon realize that you not only feel much calmer but also a lot more in control of your emotions and mental well-being.


7. Not Taking Care of Your Mental Health

Another common mindset mistake entrepreneurs make is not taking proper care of their mental health. Entrepreneurship can be a high-stress and high-pressure environment. If left unaddressed, the environment of running a business can lead to burnout, anxiety, and depression. Taking care of mental health is critical for entrepreneurs as it affects their overall well-being and ability to succeed in their businesses. 

Maintaining good mental health helps entrepreneurs stay focused, motivated, and productive. It also enables them to make better decisions, and handle challenges and setbacks. When you take care of your mental health, it makes it easier for you to maintain positive relationships with employees, customers, and partners. Taking care of mental health is a key aspect of self-care and an essential ingredient for success in entrepreneurship.


The right mindset can often make or break your business. Sometimes we have an unhealthy mindset and do not even realize it. Hopefully, this article will allow you to take a look at yourself and your mindset. Be proactive about making the necessary changes and watch your business and yourself grow.


Co-writer: Summer Anderson

Thomas Martin
Tom is a member of the Editorial Team at StartUp Mindset. He has over 6 years of experience with writing on business, entrepreneurship, and other topics. He mainly focuses on online businesses, digital publishing, marketing and eCommerce startups.

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Entrepreneurial Lifestyle · Find Your Way · Grow Your Business · Productivity · Your Mindset

Tom is a member of the Editorial Team at StartUp Mindset. He has over 6 years of experience with writing on business, entrepreneurship, and other topics. He mainly focuses on online businesses, digital publishing, marketing and eCommerce startups.

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