Thankfully, there are ways to work through these limiting beliefs and develop a more secure mindset -- and it often begins with learning from other entrepreneurs who have endured those same struggles. To help reframe your current way of thinking, a group of leaders discussed some limiting beliefs many entrepreneurs have and how you can overcome them.
'Success should come easy.'
Many entrepreneurs get discouraged when their efforts aren't immediately yielding results because they somehow believe success should be easier to achieve.
"Logically, we know that success rarely comes easy -- and yet, it's so easy for entrepreneurs to expect immediate visible success," says Ismael Wrixen, executive chairman of FE International. "In truth, for an entrepreneur to achieve their goals, they must be patient, steadfast and focus on smaller instances of growth."
'This person is doing better than me.'
In the social media era, it's almost a natural instinct to constantly compare yourself to your peers. However, Fritz Colcol, CEO of Simply Thalia, notes that this comparison can lead to self-doubts and limiting beliefs.
"When I was just starting out a decade ago, I used to keep comparing myself to other entrepreneurs who were doing better than me," Colcol says. "This set me back for a couple years until I finally realized that everyone's definition of success differs."
'I should be further along.'
For entrepreneurs who see others at a more advanced stage of their businesses, Joel Mathew, CEO and founder of Fortress Consulting, says to "stop looking sideways and keep focused forward."
"Focus on how far you've come and what your own goals are," Mathew adds. "Growth takes maturity and time, and it's different for everyone."
'I'm not good enough.'
Many entrepreneurs think they are not good enough or skilled enough to start something big now, says Solomon Thimothy, president of OneIMS. But if you keep waiting for the moment when you feel "good enough," it will never come.
"My advice is to stop waiting for a sign," Thimothy says. "You already have everything you need to make your goals a reality."
'I'm not ready.'
Whether entrepreneurs fear failure or success, it may be rooted in the words, "I'm not ready." According to Candice Georgiadis, CEO of Digital Day, this belief makes an entrepreneur more conservative and causes them to avoid taking risks to grow their business.
"It always gets to a point when you cannot push any further, hence building a resistance that you don't fully understand," Georgiadis says. "This will only be broken if you admit the fear of success and identify the source of your fear."
'Someone else will take this opportunity away from me.'
A scarcity mindset -- believing that there is a finite number of opportunities and everyone else is competing with you for them -- can often hold entrepreneurs back.
"The problem with constantly worrying about someone else taking what you already have, or want to have, is that it steals energy from developing your current abilities and innovating," explains Richard Fong, CEO of Bliss Drive. "Instead, focus on the fact that growth comes not from clinging to the status quo, but from seeking new ways to solve problems."
'I have to be perfect.'
Perfectionism is a common trait among entrepreneurs. However, the drive and desire to be perfect may limit your ability to reach goals.
"My best advice is to follow this rule: 90 percen is good enough because nothing will ever be perfect," says Kristin Kimberly Marquet, founder and creative director of Marquet Media, LLC.
'Business success is all or nothing.'
"All or nothing" thinking is a common mindset that affects people both in and out of business, says Duran Inci, CEO of Optimum7. For instance, when you encounter a setback, you may think your business is over and you are a failure.
"That's not true," says Inci. "Set a list of concrete yet flexible goals, with appropriate metrics. Note daily and weekly accomplishments, finding areas of improvement. A printed record of affirmation will help."