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making decisions based on statistics


When starting any kind of business, you need to have an entrepreneurial mindset. That means making decisions based on statistics and not on emotions. It definitely means doing income-producing activities such as, market research to determine the needs of your audience, rather than only doing easier and more fun activities.

Most of the entrepreneurs I've met who are not having the kind of success that they desire, have a problem with their mindset. I can sense it when I hear them talk about their business. Unfortunately, they aren't aware of their mindset, so they don't know that it's the problem. Before their finances improve and their business thrives, their attitude toward business needs to improve.

Mindset is something quite intangible. You can't just say, "Oh, you're spending too much money; that's your problem." Or "Your conversion rate isn't high enough to justify your advertising expenses." Those are tangible problems. Mindset is illusive, and harder to pinpoint.

One way to discover if your mindset is aligned with your business is to try to uncover any hidden beliefs that are holding you back. Beliefs that don't support your desires are the main culprits that can keep you stuck in an undesirable situation. But beliefs are just thought patterns that are habitual. This is good news because habits can be changed. The best way to change a belief is to substitute a new one that's more in alignment with your desires.

Just like being in any long-term relationship, as an entrepreneur, all of your issues will come up and need to be dealt with. One common issue is your relationship with money... how much you think you deserve, how much you can ask for, how much you can keep, and how you treat money in your personal life.

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