The single most powerful asset your company can have

I bet you are thinking that it is your credibility in your respective niche or the people who work for you. Maybe even your products or services, even your intelligence or something without which no business can be successful: money!

Well, the answer is a resounding no on all accounts. In fact, by all accounts, it is your own attitude or, more specifically, your way of thinking that decides the fate of your business. How many times have you read or heard that if you want to build a $1 BILLION company you have to think like someone who already runs a $1 BILLION company – you must already be that person.

Or at least have the same mindset.

I know what you’re probably thinking, here we go again, more “mind over matter”, “you are what you think”, “what the mind can conceive, you can achieve” or “everything starts with the mind”, but the fact is which is precisely where everything starts

The difficulty is in translating that thought into a series of specific actions that lead to running a $1 BILLION business. Let’s face it, only a few do!

Here are 7 mindset principles that are crucial to building such a business. If you are serious about it and spend just a few minutes a day adjusting your mindset towards this goal, then it is the best investment you can make in that business.

But keep in mind that this will take time; in all likelihood, you will have to do it in stages. Get to a $100,000 company first, then a $1 million company, and so on. Once you hit $10 million, according to people who have done it, it gets easier!

1. The principle of defining your great purpose

Great business leaders and their companies do great things that leave a legacy, leaving the world a better place. These leaders create a cause, not just a business. They become philanthropists who use their incredible position and wealth for good.

Their businesses became more than just business: they became a conduit to something bigger than just business, bigger than the leaders themselves and their own interests.

I quote Victor Frankl, a renowned Austrian psychiatrist: “Success, like happiness, cannot be pursued, it must come…as the unwanted side effect of personal dedication to a cause greater than oneself.”

What is the Great Purpose or cause of your business? How can your business help improve the lives of your customers?

2 The principle of thinking clearly

“As Man Thinketh” is a very famous book written by James Allen who spent 25 years interviewing famous and successful people of his day trying to find out exactly what was different about them that made them successful.

He deduced that everything was due to his thoughts and his actions.

If you focus on a particular problem, you end up with more of the same problem. However, if you focus on the solution, you will find that solution and very likely other different and potentially profitable solutions will appear as a bonus.

What are you focusing on now in your business? The problems or a solution? Clarify your problem and then start thinking clearly about solving it. Thinking clearly sounds easy, but it takes practice. People running multi-billion dollar companies do this frequently.

3. The Principle of Attraction.

What you think can often be attracted. This does not mean that if you constantly dream of winning the lottery, you will win: dreaming or wishing is not the same as a considered thought. In business and very often in life, what you think seriously and carefully about yourself can, and very often do, attract

I have also read that the big difference between dreaming and hoping is the feeling that it entails. Strong emotions help speed up the process. Don’t just dream, really feel what it would be like to have whatever you want, live it! You are only restricted by your imagination – let yourself go!

Does it seem like you’re only attracting difficult or low-income customers? If so, you almost certainly believe that’s all you deserve, at least unconsciously.

Paul McKenna, a renowned hypnotist, was trying to help a client make his business more successful. The man sold his services for seminars and by doing so he could only work for so many days and with so many clients per year, thus limiting his income. He felt that he could not charge more than, say, $1,000 per customer, as in his mind this seemed like a fair but high price.

Paul asked why he couldn’t charge more and the man replied that he felt no one would pay more. So Paul asked her to imagine charging the client $120.00 for his services. The man obviously couldn’t consider it, even if he thought someone would pay for it, but then Paul started lowering the price first to £6,000 and then to $5,000 and then to £2,500, at which point he asked the man if he thought that it was a fair price. price at which the man replied that it was. Why? Because the man thought that compared to $12,000 it was a bargain!

This is a great example of how someone running their own business can change their business almost immediately by changing the way they think about their business and what it could do for the customer. The man changed his pricing structure, ended up with more customers than he could handle, and has since raised his prices again.

Apparently your business is always a mirror of your inner thoughts. What do you have to do to get better prices? What needs attention in your business to enable this? What does your company need to move to the next stage?

4. The Principle of Commitment and Creation

So you want to create a billion dollar business. By themselves, your thoughts, hopes and dreams are not enough, you have to do something. Albert Einstein was quoted as saying “Nothing moves until something happens”

You have to make something happen and you do it by being 100% committed to your goal. No matter what happens, you will take your business to the next level.

Once you are 100% committed and focused on your goal, the magic seems to happen. If you find the right people and resources to support you, the right opportunities will appear out of nowhere. It’s called synchronicity.

Are you still dreaming or have you done something? Are you 100% engaged and focused?

5. The Principle of Perception

When you market your product, try to see it from the customer’s point of view. How do you perceive your product? I once worked for a company that sold a high-priced product, but it wasn’t really that expensive to buy. However, the general opinion of our customers was that it was an expensive product and they expected to pay a lot for it, so they did!

How you market your product is crucial to how your customer will perceive your value to them. What are you doing in your business to create perceived value? You can change it?

6. The Principle of Consequence.

“Every action has an equal and opposite reaction” or so my physics teacher taught me at school. If this is one of Einstein’s unbreakable laws, then it means that any action you take will have a consequence.

You may not be able to completely control the consequence or outcome, but you can control your reaction. If you want a different result, you must change your actions that brought it about in the first place.

If you want to grow your business from $100k a year to $10 million then you need to take different steps than you are already taking. So what are they?

7. The beginning of a rich mind

It is your mental attitude that will determine your success. As I hinted at the beginning of this article, “if you can believe, you can achieve, and you will also receive.”

Imagine how you would run a $1 billion business, or even a $1 million one. How different would that be from the way you run things now? How different would you have to be?

Finally.

Changing the way we think can be extremely difficult for some and almost natural for others; It is the same in all areas of life. But if you are committed and focused by following these principles and practicing them, even for just a few minutes each day, you can change even the most ingrained thinking to a new level.

It’s all in the mind as they say!

Thanks to Denise Corcoran for the above. I found an article he wrote in 2001 a few days ago digging through some old files when I was trying to think of what to write a new post about. Did someone mention synchronicity? I’ve changed it a bit to include my own insights into mental wealth, but I’m grateful nonetheless.