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4 tips to keep your mindset healthy

13th May 2023
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At Accountex this week I spoke about how to recession proof the growth of your practice. In this talk I focused on the importance of mindset. After all, as Henry Ford said,

"Whether you think you can, or you think you can't – you're right".

In this blog post I'm going to touch upon a few of the ways you can get the right mindset to fuel the growth of your practice, regardless of what is going on in the outside world. 

Carefully curate the information you watch, listen to and read

Switch on the news or read a news channel on the web and you could be forgiven for thinking that the small business world is doomed. In fact, it is alive and well. Watch, listen to or read stuff which tends to be negative or focused on hyping up tension or conflict (which most of the news outlets are designed to do) and your mindset will suffer for it. 

Choose the company you keep

There is a quote "You're the average of the five people you spend the most time with" which is often attributed to the motivational speaker Jim Rohn. But as David Burkus says in his article in Medium, it goes far wider than this. It doesn't just stop at the five people you spend time with. You really do become far more like the people you choose to spend time with. What this means is, if your peers are pessimistic about the future of their practice, or choosing to batten down the hatches until this current economic storm passes over, you are more likely to choose to do the same.

So you have a choice. Will you surround yourself with accountants like The Accountants Growth Club members who are all actively growing their practice, or will you stick with your current set of peers?

Reframe your fears

We often view recessions as bad things. After all, if we are to believe what the media says then we are about to head into difficult times and very choppy business waters. Who decided that recessions are bad things? A good way to think about a recession is that it can be a cleansing time - and that's no bad thing.Recessions often get rid of the weaker players or the businesses that are not delivering for their customers or clients. It also forces business that want to survive to really look at what their clients and customers want or need. 

Look after your physical and mental health

When you are tired or run down you can’t take the right decisions. You will often carrying on doing what you’ve always done. Even if these behaviours are harming your business. 

With Mental Health Awareness week being next week (at the time of writing), there has never been a better time to highlight the importance of looking after your mental health. 

Many of us use exercise as our primary tool to shake off the stresses and strains of the day. But what happens if, like me, you get injured and can't exercise? Or can't exercise in your preferred way? Which is why I recommend you have a kit bag of tools to help keep you mentally healthy. That kitbag can include things like meditation, journalling, doing your favourite things, spending time with good friends etc. 

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