PM MASTERY BOOTCAMP – MINDSET AND GROWTH PART 2

As a business owner, one of the most critical questions you must ask yourself is: Is your business set up for growth? This isn’t just about ambition; it’s about readiness and capability. Many businesses bring in new clients or projects only to lose them just as quickly because they can’t handle the increased workload. So, let’s explore whether you and your business are truly prepared to grow.

Growth is a key aspiration for any business owner, but before you can embrace it, you need to ask yourself: Is your business truly set up for growth? If your foundation isn’t solid, any new opportunities can quickly slip away. In this blog post I go into the often overlooked aspects of preparing for growth, particularly in the property management industry, and explore how your mindset might be holding you back.

Property management can be a particularly negative field, with property owners and tenants often contacting you only when there’s an issue. Rarely do you receive calls to praise a job well done. This constant message of complaints can wear you down and affect your mindset. The negativity from your clients and even your own team can seep into your daily life, making it harder to maintain a positive outlook and be ready for growth.

Human beings are wired to survive, which historically meant avoiding predators and other dangers. Today, this survival mechanism manifests as a tendency to avoid conflict and negativity. In property management, this can lead to procrastination in making difficult calls or addressing issues head-on because of the fear of negative outcomes. Understanding this can help you see why you might be avoiding growth-related activities.

Much of what holds us back is rooted in our subconscious mind, which stores all our experiences and influences our reactions without us even realising it. This can lead to self-sabotaging behaviors and a fear of success. For example, you might avoid asking for a raise or implementing new business strategies because of an ingrained fear of rejection or failure.

I’d like to share a personal story to illustrate the importance of having a toolkit to manage challenging times. Despite outward appearances, I faced significant personal and professional challenges: a marriage breakdown, a business in turmoil, and a serious health condition. It was during these times that I leaned heavily on my own toolkit to navigate through the ups and downs and come out stronger.

One of the biggest hurdles to growth is your inner critic – that voice that tells you you’re not good enough. This critic is often loudest in professional settings or personal relationships, holding you back from stepping out of your comfort zone. To tame this inner voice, you need to become aware of it and challenge its validity. Ask yourself if the criticisms are based on facts or just unfounded fears.

Imposter syndrome is a significant barrier to success. It manifests as feelings of inadequacy and the belief that we’re frauds, undeserving of our achievements. This can hold us back from public speaking, career advancement, and other opportunities. If you find it difficult to accept compliments or feel like a fraud despite your accomplishments, you might be dealing with imposter syndrome.

Limiting self-beliefs are another major barrier. These are negative perceptions that stem from past experiences and societal messages. They can make you feel unworthy or incapable of achieving your goals. Reflect on these beliefs and recognise them as stories you’ve told yourself. Rewriting these narratives can pave the way for personal and professional growth.

Emotional intelligence is critical for managing our emotions and understanding those of others. It enables us to respond thoughtfully rather than react impulsively, fostering better relationships and communication. Property managers and business owners, in particular, benefit from mastering emotional intelligence to handle various stakeholders effectively.

Mindset is a dynamic aspect of our lives that requires continuous attention and adjustment. For instance, how would your mindset hold up if a former employee stole your largest client? Situations like these challenge our resilience and adaptability.

Transforming your mindset and addressing limiting beliefs are crucial steps toward achieving success in both personal and professional realms. By strategically adjusting business practices and continuously working on emotional intelligence and mindset, you can foster significant growth and resilience. Remember, personal growth and business success are ongoing journeys that require persistent effort and adaptability.

 

We would like to thank our Property Management Partners: