Entrepreneurial Success: Enhance Your Mindset to Increase Your Revenue

While the first step to becoming an entrepreneur is locating a profitable business idea, like opening a physical therapy clinic, the true foundation of entrepreneurial success rests within your mindset. Providing good physical therapy can take you only so far. However, true determination to stop at nothing to achieve your goals can carry you through to the finish line.

You may have hundreds - if not thousands - of competitors in your field. Many of them provide similar physical therapy services as you. Yet, one practice may be raking in huge monthly revenue, while the other can barely get off the ground.

So, what separates these two practices? It's the difference in the mindset of the entrepreneurs behind the ventures. The successful businessperson boasts a heightened business mindset that leads to higher revenue. The unsuccessful one may know a thing or two about business, but is okay with doing the bare minimum.

Below is a chart that displays the key differences in the mindsets of successful and unsuccessful entrepreneurs. Adopt the mindset philosophies of the successful entrepreneur and you'll happily discover that your profits increase as well!

The Mindset of the Successful Entrepreneur

1. Always reaches higher and focuses on the upsell. He/she knows how to turn $5 into $20.

2. Has an elevator speech prepared and will recite it to anyone who's willing to listen.

3. Values the power of marketing and employs proven marketing tactics. He/she markets whether business is booming or in a lull.

4. Hires experts to help in marketing and practice management.
5. Spends time working on the practice not just practicing IN the practice.

6. Believes in his ability to achieve the best and constantly pushes himself beyond his comfort zone for the greater good of his business.

7. Believes that customer service is just as important as promotion and providing quality products.

8. Is a problem solver. He/she can allocate funds as if it were his natural talent. He/she knows how to run a tight ship in order to keep revenue up and overhead down.

9. Values his/her intuition over the advice of another. He/she truly understands what's best for the business.

10. Keeps moving when things are slow. He/she is always quickly moving on to the next task that must be done to improve the practice.

11. Thrives under pressure. He's always attentive and alert. When business begins to see red, he/she is an entrepreneurial hero.

12. Implements sound ideas into the existing business plan in order to increase revenue, customer service, and promotion.

13. Stands his/her ground. He/she confronts rotten eggs with a cool attitude and a firm intent. He notices everything and handles all confrontations with class.

 The Mindset of the Unsuccessful Entrepreneur

1. Believes that good enough really is good enough. He/she believes that a dollar in revenue is better than no revenue at all.

2. Feels embarrassed to toot his/her own horn and often downplays the complexity of his practice.

3. Employs marketing tactics only when business is slow. He/she is all about cutting corners, and when business is booming, marketing expenses seem unnecessary.

4. Allows his/her personal low self-esteem to translate into his business leadership. Because of this, marketing, networking, public perception, and revenue take a hit.

5. Customer service is an afterthought. He/she takes personal offense to most patient complaints.

6. Is a problem solver only when it comes to menial issues, but cracks under pressure when the hard times come knocking.

7. Ignores his/her intuition and does not seek expert help.

8. He/she takes advantage of the slow times in his business to indulge in his personal life while he should be working.

9. May thrive under pressure, but it's fear that keeps him/her going rather than his optimism. This same fear can cause panicky, unwise decisions.

10. Lets his/her ideas lie dormant until his business is bringing in more money.

11. Stands his/her ground with an overly aggressive and threatening attitude. His/her business mindset is out the window when he/she feels taken advantage of.

 As you can see, a heightened mindset - a willingness to succeed and take risks for your business- to ask for expert help when needed - is the foundation for attaining higher profits. By following the mindset of the successful entrepreneur, you'll experience the success you've been dreaming about in your practice.