Some business owners stay stuck for a few years before having their breakthrough year, and that was the case for a 27-year-old who shared their story on Reddit.
After a few years of being stuck at around $40,000 per year, this entrepreneur scaled up to a six-figure business within 18 months. The entrepreneur attributed changes to their inner circle as the key catalyst for the transformation.
"Your business doesn't outgrow your identity," the entrepreneur said.
These are some of the key lessons from the entrepreneur that you can apply to your business and career.
Don't Miss:
- These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends
- $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation.
Hang Out With The Right People
The entrepreneur emphasized surrounding yourself with the right people. When the original poster was stuck at $40,000 per year, they noticed that most of the people they hung out with complained all day. Those types of people won't help you grow, and if you surround yourself with complainers, you may end up complaining more often.
A transformation only took place once the entrepreneur got more intentional about their inner circle. The business owner paid to be in masterminds and events instead of settling with their current network.
When you change the people you associate with, you also change the types of conversations you have. The entrepreneur said conversations shifted from how to get more clients this week to what it takes to systematize acquisitions so clients flow into the business.
Trending: Backed by $300M+ in Assets and Microsoft's Climate Fund, Farmland LP Opens Vital Farmland III to Accredited Investors
Think Big
Thinking big is another key piece of achieving long-term success and getting unstuck, but the people you spend time with influence how you think. The entrepreneur said that when they changed their network, their thoughts changed as well.
The business owner used to think about saving $50 instead of looking for ways to make an extra $5,000. It's good to save an extra $50, create a budget, and stay on top of your expenses. However, if you only focus on cost-cutting, you eventually reach a point where you can no longer cut costs.
Only thinking of ways to save $50 can put you in a scarcity mindset that makes it difficult to grow. Setting your sights on earning an additional $5,000 per month can lead to more abundance, and you will end up with more money.
See Also: If You're Age 35, 50, or 60: Here’s How Much You Should Have Saved Vs. Invested By Now
Rewire Who You Are Before The Numbers Catch Up
The Reddit post got plenty of likes, but the top comment also received plenty of upvotes, including positive remarks from the original poster. The commenter said that sitting with a bunch of people who earn $500,000 per year doesn't guarantee that you go from earning $40,000 per year to making $500,000 per year.
"The real leverage is rewiring who you are before the numbers catch up," the commenter said. "When you start operating as the version of you who already runs the business you want (the way you think, decide, execute), the market eventually mirrors that back. And funny enough, the people you ‘should' be around start showing up naturally, because you've become the kind of person they want to work with."
The commenter also invited everyone to ask one question to themselves each day to gauge their progress.
"Am I acting like the version of me I'm trying to become, or the version I'm trying to outgrow?" the commenter asked.
The commenter asserted that asking yourself that question each day can help you grow faster than discovering the latest marketing hack.
Read Next: Are you rich? Here’s what Americans think you need to be considered wealthy.
Image: Shutterstock
