The Three Fundamentals of Small Business Success

In my years mentoring over 500 small business owners as they make their dreams come true, I’ve identified three essential elements that, if in balance, can create success beyond your wildest imaginings.

Mindset. Strategy. Action.

Yep, that’s it. I’m sure you were expecting some unheard of magic bullet, but no. This is all you need.

Mindset

I cannot emphasise just how important having the right mindset is as you work on growing your business. It’s everything.

You can have a rock-solid strategy, winning funnels and amazing offers, but if you don’t have a success mindset keeping you strong, you will ultimately sabotage yourself, trust me.

The mind stuff has always been a fascination of mine – I have a degree in Psychology; I’ve undergone deep therapy myself, and I’ve woven the mind work into all of my coaching packages and masterminds.

Identifying your limiting beliefs, establishing bulletproof self-belief and pulling yourself out of a negative spiral are all essential if you want to keep up that sustainable growth. I recommend starting with these five belief shifts.

Strategy

Let me start by making one thing clear – small business owners with an annual income anywhere up to £500k should be focusing on building income. This should be reflected in every single part of your business strategy.

It’s also important to remember that a strategy is not the same as a bag of tactics. Your strategy is the focused plan there to help you grow your business and reach your goals. Your tactics are the specific activities that help you implement the strategy.

My proven business strategy framework is one of the greatest sources of ‘aha’ moments. I walk my clients through 10 essential steps that help them become super clear on their audience, their purpose, their positioning, their marketing, their launch, and sales systems, among other things (you can find out more about that here).

Action

So you’ve got the success mindset down and the aligned strategy in place – now it’s time for the third fundamental: inspired action.

You can’t coast along, get complacent and still expect to reach your goals. But if you’re willing to get super discerning and stop wasting time on non-strategic, non-revenue generating tactics, you’ll have it in the bag.

I credit a large part of my current success to designing my own little success ritual and I suggest you do the same. Take a look at mine for inspiration here.

Trust me – when mindset, strategy, and action work in harmony? You’ll see big things, my friend.

Author: Gemma Went, Business Mentor, judge at UK Business Awards 2018

Gemma Went is an award-winning Business Mentor who works with one man bands to global brands, helping them to get the results they crave online. A podcaster, writer, speaker and panellist, she’s run two businesses of her own (the first she won an entrepreneur of the year award for) and helped hundreds of small business owners get the results they need, taking their business to the next level and helping them to reach the goals they desire.