The Growth Mindset 

The Growth Mindset - A Little Trivia

Did you know that over 86% of small business owners make less than $100,000 per year in net income?

That means the vast majority of businesses in America are not giant companies with massive teams and endless marketing budgets.

They are very small businesses.

And here’s the part almost no one talks about…

A huge percentage of those businesses could dramatically increase their revenue — sometimes by 2x or even 3x within a relatively short period of time — if they simply understood how modern visibility works and marketed their businesses correctly.

Or in many cases…

Marketed at all.

Right now, an overwhelming number of service-based businesses still rely almost entirely on word of mouth to survive.

And while word of mouth is great, it is not predictable, scalable, or fully within your control.

You can have a fantastic month because a few people mentioned your business…

…and then the next month your phone barely rings.

That’s not a growth strategy. That’s a gamble.

Here’s the reality:

If you own a service-based business and you are not showing up in the Call Pool, you are invisible to a massive percentage of potential customers.

The Call Pool is the group of businesses people choose from when they search online for a service provider.

And if your business is not appearing in those top search positions…You are not even being considered.

More Trivia

According to data from the Bureau of Labor Statistics, roughly 20% of small businesses fail within their first year.

By year two, about 30% are gone. By year five, nearly half have failed.

And by the end of a decade, only around 30% are still standing.

That means roughly 7 out of 10 businesses will not survive long term.

Now, businesses fail for many different reasons. But one of the biggest reasons — and one that shows up over and over again — is cash flow problems.

In simple terms:

Not enough money coming in consistently.

And here’s the hard truth many business owners never fully accept, a business cannot survive if people do not know it exists.

You cannot rely solely on hope, referrals, or “word getting around.”

At some point, every business owner has to make a decision:

Do I want to own a business, or do I want to build one? Because building one requires investment.

• Investment in visibility.
• Investment in marketing.
• Investment in growth.

That doesn’t mean reckless spending.

It means understanding that marketing is not an expense that hurts your business. Done correctly, marketing is the engine that feeds it.

The businesses that survive long term are usually not the businesses with the fanciest logos or the biggest personalities.

They are the businesses that consistently stay visible, stay relevant, and stay in front of potential customers.

Visibility creates calls. Calls create revenue. Revenue creates survival. And survival gives you the opportunity to create something amazing, to grow wealth and perhaps create a legacy for your family.

Surviving Pandemics and Economic Crisis' 

The world became a scary and uncertain place in 2020. People were told to stay home, which may have been necessary for safety, but it created major problems for businesses.

If people are not leaving their homes, many businesses lose customers, sales, and revenue almost overnight.

If you own a business of any kind, it is important to understand there will always be obstacles.

Pandemics, economic downturns, inflation, wars, technology shifts, and changing consumer behaviors are all part of the business landscape. The world changes constantly, and the way people communicate, search for information, and purchase products changes with it.

When these changes happen and your business fails to adapt, your business begins to suffer setbacks. Over time, weakness in a business can become dangerous. Businesses that are not growing, adapting, and strengthening themselves become vulnerable when hard times arrive.

This is why marketing should never be viewed as something you only do when business slows down. Strong businesses create consistent visibility long before they desperately need customers.

A solid marketing strategy helps create stability, predictability, and resilience.

I often think of marketing as the root system beneath a tree.

Most people focus on the visible part of the tree, but the real strength comes from the roots underground. Deep roots are what keep a tree standing during strong winds and violent storms.

In the same way, a strong marketing foundation helps keep a business stable during difficult times.

Businesses that adapt quickly and stay aware of changing marketing opportunities are often the ones that survive and grow. In many cases, competitors are much slower to change than people realize.

Business owners who continue learning and improving their visibility often gain a major advantage simply because they are willing to evolve.

When the pandemic first hit, many businesses went into a tailspin because of uncertainty and fear. Nobody knew what was going to happen next.

And the reality is simple: when people stop spending money, businesses suffer. Whether it is caused by a pandemic, a recession, or another economic crisis, reduced consumer activity creates pressure on nearly every industry.

Every year, hundreds of thousands of businesses close their doors even under normal economic conditions. During the first year of the pandemic, that number increased dramatically.

Now, the next thing I am about to say may upset some people, but I believe it is true based on what I have witnessed throughout my career.

In many cases, the pandemic itself was not the direct reason certain businesses failed. Instead, the pandemic exposed weaknesses that already existed within those businesses.

Weak visibility, weak marketing, poor cash flow, lack of adaptability, and unstable foundations became impossible to ignore once adversity arrived.

When a business does not have a strong foundation, it becomes fragile. If you are not focused on growth, visibility, and building long-term strength into your business, difficult times can expose those weaknesses very quickly.

And at some point, every business will face adversity. The businesses that survive are usually the ones that prepared themselves before the storm ever arrived.

Fixed or Growth Mindset?

I remember a few years ago a client of mine called to tell me he had experienced a “first” in his business. He had his first $100,000 month.

What made this so interesting to me is that he did not own some giant company with hundreds of employees. He owned a small handyman business.

Our conversation caused me to have a huge epiphany.

If you gathered a group of people who all operated the exact same type of business and gave them access to the same tools, resources, opportunities, and information, would all of them achieve the same level of success?

Of course not.

Some businesses would grow quickly. Some would remain average. Some would struggle. And some would eventually fail.

So what determines the difference?

A large part of that answer comes down to the mindset of the business owner.

Some people operate with a growth mindset while others operate with a fixed mindset. This is one of the biggest reasons why businesses with very similar opportunities can produce completely different results.

A growth-minded business owner looks for ways to improve, adapt, learn, and grow. They are willing to try new ideas, invest in visibility, and make changes when necessary.

They understand that business is constantly evolving and that staying stagnant can be dangerous.

On the other hand, a fixed mindset often creates resistance to change. Some business owners become trapped in old ways of thinking, even when the market around them is changing rapidly.

They may avoid learning new marketing strategies, resist technology, or refuse to invest back into their business because they become too comfortable operating the way they always have.

The reality is that two businesses can have access to the exact same opportunities and still experience completely different outcomes.

The difference is often not intelligence, luck, or even talent.

Many times, the difference is the mindset of the person running the business.

Fixed or Growth Mindset - The Dividing Factor 

The client of mine who celebrated his first $100,000 month was actually part of a chain of independently owned franchises. Over time, his location became the top revenue-producing location in the entire franchise system.

After we began working together, one of the corporate owners took notice of the growth happening at this particular location and requested a meeting with me.

Eventually, I was hired to act as a marketing consultant and advisor for the franchise system as a whole.

In this role, I worked directly with franchise owners across the country, helping them better understand internet marketing, visibility, customer acquisition, and the overall profitability of their businesses.

Once I was given access to the franchise list along with the revenue numbers for each location, it became very easy to identify which businesses were thriving and which ones were struggling.

What fascinated me most was the difference in mindset among the franchise owners.

These business owners all had access to the same brand, the same business model, similar tools, and many of the same resources. Yet the differences in performance between locations were sometimes dramatic.

Some owners were eager to learn, adapt, and grow. They embraced the idea of reaching past their comfort zone and trying things like Google ads.

Others resisted the idea completely.

Some refused to even discuss digital marketing opportunities. Many of the franchise owners operated their businesses with a survival mindset instead of a growth mindset.

Now, to be fair, there are certainly other factors that can influence revenue. Demographics, population size, competition, and local economics can all affect the opportunity level within a specific market.

But after years of watching these franchise owners operate, one thing became very clear to me:

If you take a group of people running the exact same business model with access to many of the same resources, they will not all achieve the same level of success.

And in many cases, demographics is not the blame.

It is mindset.

Mindset affects how a business owner learns, adapts, invests, markets, solves problems, and responds to opportunity.

Ultimately, the mindset played a major role in determining where one of these franchise business owners fell within the hierarchy.

What Makes a $100K Month Possible for a Really Small Business?

Well, first of all a great marketing person! 😂😂😂

However, the real answer is a growth mindset.

The owner of the highest revenue producing location has a growth mindset. He understands what he has to do in order for his business to grow.

He understands he must always be ready for change in today’s world, he must be versatile, he must adapt to the ever-changing landscape of how the consumer communicates and buys.

How a Growth Mindset Helps a Business Owner to Succeed

A growth mindset can help business owners handle adversity by making them more resilient, adaptable, and open to change.

Business ownership is not easy. There will always be setbacks, mistakes, slow seasons, competition, and unexpected problems. The difference is how a business owner responds to those challenges.

Here are a few ways a growth mindset can make a major difference in business:

1. Embracing Challenges

Business owners with a growth mindset tend to view challenges as opportunities instead of roadblocks. Rather than avoiding difficult situations, they look at them as chances to improve, learn, and grow stronger.

This mindset helps them approach adversity with a more proactive attitude instead of becoming paralyzed by fear or frustration.

2. Learning From Mistakes

People with a growth mindset understand that mistakes are part of the learning process.

Instead of viewing failure as proof that something “doesn’t work,” they ask better questions:

“What could I have done differently?”
“How could I improve this next time?”

For example, if a business owner tries Facebook advertising and it performs poorly, a fixed mindset might say:
“Facebook ads don’t work.”

A growth mindset says:

“Maybe my targeting was wrong. Maybe my message was weak. Maybe I need a different strategy.”

That shift in thinking changes everything.

3. Being Open to Feedback

Business owners with a growth mindset are usually more willing to accept constructive feedback and new ideas. They do not let ego stand in the way of learning.

Sometimes the biggest breakthroughs in business happen when an owner is willing to listen, adapt, and consider a perspective they had not thought about before.

4. Staying Flexible

Markets change. Technology changes. Consumer behavior changes.

Business owners with a growth mindset understand that change is inevitable, and they are more willing to evolve with it.

This flexibility allows them to adjust faster, try new approaches, and stay competitive in a constantly changing business environment.

5. Persevering Through Difficult Times

A growth mindset also creates long-term thinking. Successful business owners understand that growth does not happen overnight.

They are willing to stay focused, continue learning, and keep improving even when business becomes difficult.

Instead of quitting during adversity, they continue building.

Overall, a growth mindset helps business owners view challenges, setbacks, and failures as opportunities for improvement rather than permanent defeat.

And in business, that mindset can make all the difference.

Examples of a Growth VS A Fixed Mindset 

I want to provide an outline of each mindset so you can decide which one you relate to the most. It is completely normal to have traits of both.

However, if you really sit down and honestly evaluate your thinking patterns, it usually becomes very obvious which mindset you lean toward most often.

Fixed Mindset

A person with a fixed mindset typically believes their abilities, intelligence, talents, and skills are mostly fixed traits. In other words, they believe people are either naturally good at something or they are not.

People with a fixed mindset often dislike change, avoid challenges, and become uncomfortable when pushed outside of their comfort zone.

They may resist learning new strategies or adapting to new ways of doing things because they fear failure, criticism, or looking inexperienced.

From an entrepreneurial standpoint, this can create challenges because business ownership requires constant adaptation and problem solving.

Now, with that said, there are certainly exceptions. I have worked with clients who had many fixed mindset tendencies and still built successful businesses.

However, those businesses often experienced more struggle because resistance to growth can limit long-term progress.

Growth Mindset

A person with a growth mindset understands that abilities and skills can be developed over time through effort, learning, persistence, and experience.

Unlike someone with a fixed mindset, growth-minded individuals are generally more adaptable to change. They are willing to learn new things, try different approaches, and push through discomfort in order to improve.

They tend to view challenges as opportunities instead of threats.

This type of mindset is extremely valuable in entrepreneurship because business ownership constantly demands learning, adaptation, and resilience.

Examples of Fixed vs. Growth Mindsets

Fixed Mindset:
“I’m not good at sales. I’ll never be able to increase my revenue.”

Growth Mindset:
“I may not be great at sales right now, but with practice and learning, I can improve and increase my revenue.”

Fixed Mindset:
“I’ve always done things this way. There’s no reason to change my approach.”

Growth Mindset:
“I’m open to trying new strategies and experimenting to see what works best.”

Fixed Mindset:
“I don’t have the education or experience to apply for that opportunity.”

Growth Mindset:
“I may not have all the qualifications yet, but I’m willing to learn the skills I need.”

Fixed Mindset:
“I made a mistake, but it’s not my fault. That’s just the way things are.”

Growth Mindset:
“I made a mistake, but I can learn from it and improve moving forward.”

Fixed Mindset:
“I can’t take on new challenges. It’s too risky and I might fail.”

Growth Mindset:
“I’m willing to take calculated risks because challenges help me grow and learn.”

The truth is, every business owner has moments of both mindsets. The important thing is becoming aware of your default way of thinking because your mindset affects how you handle challenges, change, opportunity, criticism, and growth. And in business, those things matter more than most people realize.

Growth Mindset: There are Downsides

I am an entrepreneur with a growth mindset, and I can honestly tell you that even though I believe it gives me advantages in business, it certainly does not eliminate challenges.

In fact, a growth mindset can sometimes create its own set of problems.

I think it is important to be transparent about that because people often talk about growth mindsets as if they are purely positive. The reality is that any personality trait, when taken too far, can create struggles.

Here are some of the personal downsides I have experienced as an entrepreneur with a growth mindset:

Perfectionism

I am a recovering perfectionist. I constantly question my work, whether it is ready to be released into the world, and whether it is “good enough.” Over the years, this mindset has caused me major setbacks (LOTS OF MONEY) because I have spent too much time overthinking, revising, tweaking, and delaying action.

Perfectionism can quietly become a form of procrastination. Sometimes “done” is far more valuable than “perfect.”

Overworking and Burnout

I also tend to drive myself too hard. Growth-minded people often believe that effort, learning, and persistence can solve almost anything. While that can be a strength, it can also lead to burnout if you are not careful. (Ask me how I know.)

There have been periods in my life where I pushed myself far beyond healthy limits because I was so focused on improving, building, and growing. The problem is that constant growth without balance eventually catches up with you.

Unrealistic Expectations of Others

One of the biggest struggles I have faced in business is hiring and managing employees.

I sometimes have unrealistic expectations because I expect other people to care about the business at the same level I do. I expect the same level of urgency, attention to detail, work ethic, and personal investment.

And the truth is, most employees will never think like an entrepreneur because it is not their business. That realization has caused me a lot of frustration over the years.

I have had to learn that delegation does not mean people will do things exactly the way I would do them.

Ignoring Personal Limitations

Another downside is that growth-minded people sometimes ignore their own limitations.

The constant desire to improve can create unrealistic goals and unhealthy pressure. While ambition is important, we are still human beings with physical, emotional, and mental limits.

I have personally experienced moments where I pushed too hard, took on too much, or underestimated the toll it would take on me.

Growth is important, but sustainability matters too.

At the end of the day, I still believe a growth mindset is one of the most valuable traits a business owner can have. However, I also believe self-awareness is equally important.

Because growth without balance can eventually become self-destruction.

Breaking the Mindset Barrier

Today’s world is changing incredibly fast. The way consumers communicate, search for information, and make purchasing decisions has completely transformed the business landscape.

As a result, businesses are being forced to change the way they operate, grow, and market themselves.

Business owners who resist accepting this reality — or refuse to adapt to it — often experience very slow growth, if they grow at all.

The handyman franchises I mentioned earlier are a perfect example of this.

Every franchise owner had access to the same business model, similar tools, the same branding, and many of the same resources and technologies. Yet the businesses at the bottom of the profitability chain continued to struggle while others thrived.

What made the difference?

Mindset.

Some owners adapted quickly. They embraced marketing, learned new strategies, improved their visibility, and stayed open to change.

Others resisted change completely.

What was fascinating is that one growth-minded franchise owner was able to generate nearly the same amount of revenue in a single month that some lower-performing locations struggled to produce in an entire year.

That gap was not created by luck.

It was created by mindset, adaptability, and long-term thinking.

Successful business owners understand that growth often requires taking calculated risks, learning new skills, and staying versatile in a rapidly changing world.

But perhaps even more important is this:

The business owners who succeed long term are usually the ones willing to create a structured marketing strategy and commit to it beyond the next 30 or 60 days.

They focus on the bigger picture.

Many small businesses struggle because they constantly chase immediate results instead of building long-term systems that create sustainable growth over time.

Building a profitable business rarely happens overnight. Strong businesses are built gradually through consistency, visibility, learning, and adaptation.

You cannot realistically expect to build a six- or seven-figure business while operating with a short-term, survival-based (5 figure) mindset.

You can say you want massive growth, but if your habits, decisions, risk tolerance, and actions continue to reflect a much smaller vision, very little will change.

Your mindset ultimately shapes your actions.

And your actions shape your business.

How To Create Change? What is the First Step?

Understand that small thinking often leads to small profits.

If you want to grow a successful business, you must train yourself to think beyond immediate survival and begin developing a long-term strategy. Strong businesses are built by owners who understand the bigger picture and make decisions based on long-term growth rather than short-term emotion.

One of the most important things a business owner can do is understand their numbers.

• How much revenue did your business generate this month?
• How does that compare to the same time last year?
• Which products or services are producing the most revenue?
• Which ones are the most profitable?
• Which services are underperforming or creating unnecessary strain on the business?

You also need to identify weaknesses within your business.

• Are you losing opportunities because customers cannot find you online?
• Are competitors capturing calls that could have gone to your business simply because they are more visible?
• Are there areas where your marketing, systems, or customer experience need improvement?

Successful business owners constantly evaluate where they currently are versus where they want to be.

• What is the gap between your current reality and your long-term goals?

Because that gap does not close on its own. You need a strategy to build the bridge between where you are now and where you ultimately want your business to go.

That strategy requires understanding important business metrics.

• What does it cost you to acquire a new customer?
• What is the average value of a customer over twelve months?
• What is the lifetime value of a repeat customer to your business?

Business owners who understand these numbers make far better decisions regarding marketing, growth, staffing, pricing, and investment.

At the end of the day, the distance between where you are and where you want to be is usually filled by one thing:

A structured marketing strategy combined with both short-term action and long-term growth thinking.



Lesson Overview