It is human nature to make excuses. We are all guilty of this from time to time. However, as a business owner, the excuses that you make to yourself are the most damaging.

In this series, we are going to examine five common excuses that business owners often tell themselves… which keep them from developing their business to its full potential.

Some of these excuses are conscious, while others are unconscious. Either way, they can inflict critical damage to the future of your business.

The five mistakes are:

  • “I can’t do it.”
  • “This concept won’t work in my industry.”
  • “I don’t have time.”
  • “It’s too large of a financial risk.”
  • “I have to serve each customer personally.”

Excuse Number One: “I Can’t do It”

Studies in a variety of disciplines have shown that If you believe that you can accomplish your goals, you are much more likely to find success.  Negativity and a lack of self-confidence tend to become self-fulfilling prophecies, meaning that simply by failing to believe in yourself, you reduce your chances of success.

What are the limits of your potential?  How successful can your business be?  How much money can you make?  How soon can you enjoy the lifestyle you desire?

There are two ways to answer those questions.  The first is to determine your true “ceiling.”  And the second is to determine the ceiling you place on yourself.  The sad reality is that many business owners choose to limit their own success by refusing to believe in themselves.  Rather than reaching their true potential, rather than creating a multi-million dollar business empire; they decide that such success is not for them, and choose to settle for less.

There is a few business owners who refuse to place artificial limits on their potential.  They are governed only by their true potential.  And these are the business owners who find massive success.

How would you feel if a business partner, friend, or family member pulled you aside and told you that you could not grow your business past a certain figure—say $500K in yearly revenue?  No matter what you do, you couldn’t break that ceiling, they say. If you took them seriously, you would be upset, right?  Or you’d laugh and blow them off.  But guess what: every single time you say “I can’t do it” in response to a new challenge, you are placing an arbitrary limit on yourself.  You wouldn’t allow someone else to impose a limit on your success, so why should you do it to yourself?

Study after study has demonstrated the power of belief and positive thinking.  Sure, you will not succeed in every single venture.  But if you approach everything you do with the belief that you will be successful, you are going to be far more successful than an equally talented individual who responds to every challenge by saying “I can’t do it.”  Banish that phrase from your vocabulary, starting right now.