Episode #5
July 18, 2024
53:43 min

Stop Your Limiting Beliefs and Get Out of Your Own Way

In this episode, Derek Hoefrichter from SBE Service Business Evolution discusses the importance of overcoming limiting beliefs and effective communication in business growth. Derek shares his journey from politics to entrepreneurship and how he realized the impact he could have on a smaller scale. He emphasizes the role of communication in solving business issues and building a strong company culture. Derek also highlights the need for business owners to shift from working in the business to working on the business, and the impact of limiting beliefs on growth. In this conversation, Derrek Hofrichter discusses the importance of overcoming limiting beliefs in order to achieve success in the service business. He emphasizes the need for a growth mindset and the willingness to challenge and change one’s beliefs. Derrek also highlights the common mistakes that service businesses make when trying to scale their operations and provides insights on how to avoid them. He emphasizes the importance of building a strong foundation, utilizing management software, and being a resonant leader. Derrek encourages business owners to connect with others, learn from their experiences, and seek support and guidance.

Episode 5 Show Notes

Summary:

In this episode, Derek Hofrichter, a business coach and trainer, shares his journey from politics to entrepreneurship and how he overcame limiting beliefs to build a successful fitness coaching business. He emphasizes the importance of effective communication in business improvement and discusses the concept of working in the business versus working on the business. Derek also highlights the significance of identifying and overcoming limiting beliefs that hold us back from achieving our true potential. The conversation explores the impact of limiting beliefs on personal and professional growth. It emphasizes the importance of becoming aware of these beliefs and actively working to overcome them. The speaker shares examples of how limiting beliefs can hinder progress and success in business. They also discuss the role of coaching and community in helping individuals overcome their limiting beliefs. The conversation concludes with insights on the common mistakes made by service businesses when scaling operations and the importance of building a strong foundation before focusing on other aspects of the business.

Keywords:

business strategies, limiting beliefs, communication, business improvement, working in the business, working on the business, limiting beliefs, personal growth, professional growth, awareness, overcoming, coaching, community, scaling operations, strong foundation

Takeaways:

Effective communication is essential for business improvement as it allows for clarity, alignment, and the building of a strong company culture.
Working on the business, rather than in the business, is crucial for business owners to focus on strategic planning, growth, and leadership.
Limiting beliefs can hinder business success and personal growth. It is important to identify and challenge these beliefs to unlock true potential.
Aligning values and finding a company or coaching organization that shares your vision and philosophy is crucial for personal and professional fulfillment.
Beliefs shape our reality. It is important to cultivate positive beliefs that empower us and support our goals and aspirations. Limiting beliefs can hinder personal and professional growth, but becoming aware of them is the first step towards overcoming them.
Coaching and community support can help individuals overcome their limiting beliefs and achieve success.
Service businesses often make the mistake of focusing on urgent tasks instead of impactful ones, which hinders their growth.
Building a strong foundation, including implementing management software, is crucial for scaling operations in service businesses.
Being a resonant leader, who is optimistic, compassionate, and creates a sense of safety, is essential for fostering a positive and productive work environment.

Titles:

Finding Alignment: The Importance of Shared Values
Challenging Beliefs: Cultivating Empowering Mindsets Building a Strong Foundation for Business Growth
Overcoming Limiting Beliefs for Personal and Professional Growth

Sound Bites:

“The speed of impact is way faster at that small business level.”
“Communication is the ability to put words, the right words in the right order.”
“Communication is usually the root cause of any problem in a business.”
“It’s never a process of completely eliminating these. It’s just trying to become aware of them and then trying to reduce the number of them that we have.”
“This is impacting people’s path to growth. It’s sad because you like, especially from like the outside perspective, it’s like, wow, like you could be making so much more progress.”
“It’s going to be a long process to overcome a limiting belief. And if we’re trying to grow a company, let’s say from a million a year to 2 million a year, there’s of course going to be some limiting beliefs that have held us back from doing that.”

Chapters: