Break Free of 12 Mindset Traps Entrepreneurs Face

Mindset matters. Discover 12 mindset traps entrepreneurs face that are holding you back from reaching your subscription box goals.

Seventy-five percent of being an entrepreneur is about your mindset. I’ve seen this in my own business and I see it with subscription box owners inside my coaching membership, Launch Your Box, every day. Your mindset can hold you back or propel you forward. 

We all fall into mindset traps from time to time – myself included. But the key is to not stay stuck in those traps. 

Recognizing what’s holding you back is the first step to moving past it.

I’m going to take you through all 12. I really want them to soak in. Think about each one and whether it’s an issue for you. 

1. The fear of failure. 

“But what if I fail?” 

This is probably the biggest mindset trap. It keeps us from getting started. We’re so afraid of failing that we never actually start. 

If you’ve been sitting there thinking about starting a subscription box, you might be worried about financial risk or your reputation or the possible impact on your personal life. The root of all of that worry is a fear of failure. 

This isn’t a mindset trap I struggle with. Instead, I frame it as, “What if I don’t try?” My fear of complacency, of not trying and missing out is bigger than my fear of failure. 

Reframe this fear by thinking about what it will look like when you succeed. Think about what you’ll be missing out on if you don’t take that chance. 

2. Perfectionism. 

This one holds so many of us back from starting. It’s the desire of having everything in place before getting started. 

Our Launch Your Box members know – you just have to start. You can start messy. You can launch your subscription box messy. 

But if you never start, you’ll never be able to make it better. 

Instead, do it messy and scared. Do it without knowing how it’s going to go. 

I relate this to being a mom. When you have your first baby, you don’t know how it’s going to go. You certainly don’t feel ready. But you figure it out as you go. 

Business is the same. You’ll never feel fully ready. 

Don’t let perfectionism be the reason you don’t take a chance. 

If you struggle with this mindset trap, you’ll love Amy’s interview on the Launch Your Box podcast! 

3. Imposter syndrome. 

Oh, imposter syndrome. 

• I’m not good enough.
• I’m not smart enough. 
• I’m not young enough. 
• I’m not creative enough. 

Ugh. Imposter syndrome is mean. And it can be loud. 

Imposter syndrome is really just a fear of inadequacy. Subscription box owners who struggle with this have a hard time believing someone will want to buy their subscription box. 

Imposter syndrome leads to hesitation and gets in the way of success. 

The thing is you don’t have to be the smartest, or the prettiest, or the most creative. 

What you have to be is consistent. Don’t worry about being the best at everything – or anything. 

Focus on being consistent and remind yourself that you are competent and deserving. 

4. Overestimating the importance of money. 

“I can’t start a business. It takes money.” 

And you’re right, it does. But when you tell yourself you don’t have the money to start, you’re not being savvy. 

If you can’t afford to hire someone to build a website or do your social media, Google it, watch YouTube videos about it, and figure out how to do it yourself. 

Get scrappy. 

You don’t need custom boxes when you’re getting started. I started with a plain brown kraft box with a stamp. And that was fine. 

Getting over this one is all about getting resourceful and figuring it out. 

Figure out what you can do with what you have. 

5. The fear of taking risks. 

Being an entrepreneur is a risk. It’s risky every day. 

When you’re afraid of taking risks, you limit opportunities that could come your way. This leads to stagnation – being stuck somewhere. 

I’m not a risk-taker by nature. I don’t skydive or gamble. But in my business I take calculated risks. 

Start with small risks. And when those start to pay off, you’ll get comfortable taking bigger, still calculated risks. 

6. Negative self-talk. 

This one is a problem for so many of us, especially women. 

This sounds like telling yourself you’re not good enough. Not noticing what you’re doing well. It’s an inability to see the positive by focusing on what’s going wrong. 

Negative self-talk leads to poor decision making. Instead of taking your shot, you pass on it or defer to someone else. 

Stop talking negatively to yourself. 

7. Lack of focus. 

I’m guilty of this sometimes. I think we all are. 

Lack of focus looks like trying to do too many things at once and not finishing any of them. Lack of focus leads to burnout and fatigue. You end up exhausted and overwhelmed – and you still have a long list of things to complete. 

Creative brains are often all over the place. Mine is. But if I don’t have a clear process to complete things, I’ll be all over the place. 

I combat a lack of focus by systematizing things. 

I have systems and processes for everything in my business. This makes me more likely to stay focused and implement things and get them done. 

My launches follow systems and processes. My team and I know what to do and how to follow the systems and the processes to get it all done well. 

I create systems and templates and plans inside  Launch Your Box, too. My members need them as much as I do. Those tools are some of their favorite parts of the membership. When they go to launch, they know to follow the same systems and processes that I use. And they work just as beautifully for their launches. 

What systems and processes can you put in place in your business?

8. Not valuing your time. 

We fall into the trap of trying to do everything ourselves. Waiting too long to hire. Trying to figure everything out ourselves instead of reaching out to an expert. 

This leads to frustration and delays in getting the dang thing started! 

Sometimes you have to hire someone to do the thing that is really hard for you to do. You have to figure out the value of spending money to hire someone instead of you spending the time to try to do it. 

Many entrepreneurs don’t place enough value on their time. They end up getting frustrated and burned out. And that gets in the way of making progress toward their goals. 

Is there something you are spending too much time on in your business? 

9. Comparison to others. 

You’ve probably heard the saying, “Comparison is the thief of joy.” President Theodore Roosevelt said it first. 

My version is a little different. Comparison is the thief of progress. And taking action. And ultimately, success. 

We constantly compare ourselves to others. In our industry, other industries. This leads to lack of motivation. 

If I had compared myself to Fab Fit Fun when I was starting my Monogram Box™, I never would have gotten started! I didn’t have their resources or thousands of employees. I couldn’t pack my boxes with tons of products that I sourced for very little cost. 

If you compare yourself to a subscription box owner who has over 1,000 subscribers, you may get discouraged. 

But listen to the whole story - that subscription box owner with over 1,000 subscribers may have started with 18. Launch Your Box member Betsy did! Learn more about the beginning of her subscription box story by listening to this episode of the Launch Your Box podcast. 

When you hear the full story, you’re able to be inspired instead of discouraged. 

Let the wins in our community inspire you, not stop you. 

10. Resistance to change. 

The business environment has shifted so much over the past four years. We’ve been through near constant change – a global pandemic, supply chain shortages, a struggling economy. 

If you resist change, you’re going to plateau and maybe decline. When new platforms pop up, lean into them. When algorithms change, try something new. 

You have to be open to change and open to learning how to work with the change. 

11. Short-term thinking. 

If you solely focus on short-term gains and short-term wins, you’re undermining your long-term success. 

Building a successful subscription business is a long-term game. 

It’s about building a sustainable business that brings recurring revenue into your business. Something that, as you grow and scale, can sustain your business and your family. 

12. Lack of self-care. 

When we neglect our personal health and well-being, it affects everything in our lives, including our businesses. 

We need to balance our personal lives and our work lives. Not taking time for self-care affects everything. 

Which mindset traps are you falling into? I’ve struggled with imposter syndrome a lot through the years. And lack of self-care has been a big problem in the past. It took a health scare and the realization that after going through a divorce, I was the only person taking care of my kids. And I wasn’t healthy enough to do that. 

When you recognize the mindset traps you’re struggling with, you’re able to take steps to change them. To get past them and start moving forward.  You are capable. You are worthy. It’s time to take action, make progress, and start making your subscription box dreams come true. And I will be here cheering you on – and working on my own mindset challenges!