How Affirmations Boost Opportunity Recognition & Entrepreneurship

Today’s Newsletter was written with Lani Wade

Affirmations have been shown to be a powerful tool for improving our mindset and reinventing our results in nearly every area of our life including entrepreneurship.

One benefit in particular of affirmations is that they can help us keep our goals and objectives top of mind. This then allows us to spot opportunities and take actions throughout the day and work towards attaining our goals. These positive results generally leads us to feeling more content and in control of our own life and environment.

While this makes sense from a logical perspective, did you know that the improved mindset and sense of control affirmations specifically help with entrepreneurship?

A recent study published in the Journal of Business Research investigated the principal of “locus of control” on opportunity recognition among aspiring entrepreneurs (because the ability of individuals to recognize entrepreneurial opportunities is the key factor in their decision to pursue entrepreneurship as a career).

“Locus of control” refers to individuals’ general perception of events as being under their own control (internal locus of control) or under the control of powerful others or other outside forces (external locus of control; Rotter, 1966).?

People with an internal locus of control believe that their hard work would lead them to obtain positive outcomes–a belief that can be targeted with self-affirmation by increasing self-esteem. Likewise, people with high self-esteem have a greater potential for self-reinforcement (a behavior of internal locus of control; Fish & Karabenick, 1971).

The results of the study suggest that internal locus of control has a positive relationship with aspiring entrepreneurs' opportunity recognition (and entrepreneurial intention) and external locus of control a negative relationship.

If you feel like you are in control of your life and your destiny, you may make a great entrepreneur.

Those who report an internal locus of control are also more likely to be in better health, show lower levels of psychological stress, and have greater confidence in the outcomes in their lives, as well as higher happiness and creative ideation.?

People with an external locus of control, on the other hand, often feel at the mercy of circumstances in their lives, as they attribute both cause and solution to outer forces such as luck, destiny or other people’s decisions (Rotter, 1966).

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3 Ways to Foster an Internal Locus of Control:

1. Avoid blaming others: What is the mindset you resort to during times of distress? Learn to take responsibility and be accountable for the outcome of a situation rather than automatically shifting the blame to an outside source. You probably have more control over the events of your life than you take credit for.
2. Take charge of your future goals: Stop seeing any future success or accomplishment as dependent on someone else or an event to happen. Change your thoughts to “when I make this happen” (instead of “if”) or “determination, not luck, will take me to my future goals”.
3. Embrace failure: Every failure gives you a chance to learn and grow. Recognize that failure in life is inevitable and don’t let that stop you from trying; it is difficult to accomplish much in life if the fear of failure drives you to avoid situations.

?The stronger your internal locus of control, the happier you will be and more rewarding you will find life. You will no longer feel the need to blame others or be fearful of doing something new that may result in failure. Fuel your creativity and go after what you want; you are the master of your destiny.

You have so much power when you take responsibility for your actions, believe in your own abilities, and feel good about who you are.

Check out the new “Entrepreneur” category in the Selfpause app to find affirmations to inspire and motivate you on your entrepreneurial journey, or use the app to write and record your own affirmations!