It’s the classic chicken and egg story for some financial planners who want to start their own business: do I need to work on self-development before I launch my own business or will starting my own endeavor ignite my self-development? It’s a very fair question to ask, and one that I hear a lot from those who are hesitating to take the next step.
In my experience, it’s almost always the latter that occurs. When you make the decision to become an entrepreneur and take control of your career and future, your self-development becomes fast-tracked and you start learning much more about yourself at a rapid pace. That’s why I normally encourage those I mentor to take the leap. If they wait until they believe they are truly ready, many of them will never make the move and stay stuck in their current situation for the rest of their career.
Why does becoming an entrepreneur supercharge your self-development? Here are three big reasons:
The Self-Fulfilling Prophecy
Self-fulfilling prophecies can be either positive or negative. For example, if you truly believe that you are unlucky in love and will end up alone, you’ll likely sabotage any healthy relationship you get into so you can subconsciously prove yourself right. However, it can also work in the other direction.
Most people believe that launching an advice-based planning career requires a high level of self-awareness, people skills, and desire to learn. When they take the plunge and start their own business, they therefore become the type of person who is—guess what?—self aware, has strong people skills, and desires to learn as much as possible. Sometimes making the move before you think you’re really ready is the impetus you need to become the entrepreneur you want to be.
You’ll Need to Lean on Mentors
When you work for a large firm and are on the commission-based hamster wheel, you can get away with not having mentors. In fact, many large companies may actively discourage you from developing mentors who may help you to think differently. When you’re an entrepreneur, on the other hand, you need mentors to succeed. When you cultivate your team of mentors, you will learn at an accelerated pace—both about yourself and about the industry. Just one or two mentors who have been in your situation can save you years of costly mistakes and help you get into the right mindset to succeed.
You’ll Attract Other Like-Minded Businesspeople
According to the Law of Attraction, we tend to manifest in our lives what we are most focused on. When you’re toiling away at a large firm and chasing sales, it’s likely that you are focused on how much you don’t like what you’re doing. Guess what that manifests? Yep, more of the same frustration. However, when you start your own business, you begin focusing more on yourself, your business, and how to create a fulfilling lifestyle.
Not only will this attract new and better opportunities, but it will also attract others who are focused on the same thing. You’ll likely find yourself developing relationships with those who make you feel good about yourself, who are actively looking for ways to help you, and who add to your overall sense of energy and success.
Will you ever believe you’re 100% prepared to leave the comfort of where you are and launch your own business? Probably not. But don’t let that stop you! When you make the leap, you’ll often find that the resources and people you need to succeed almost ‘magically’ appear. This leads to a rapid increase in self-development which will help you build the seven-figure business of your dreams. If you’d like more advice on exactly how to launch that business, please reach out. I’d be happy to share my knowledge with you.
How to Operate a 7-Figure Entrepreneurial Advisory Business