A growth mindset is a set of beliefs and thoughts that help people to be more open to challenge, learn from mistakes, and improve themselves in the face of adversity.
As a business owner, a growth mindset is vital to your success; it's what will enable you to overcome tough times and keep you striving to improve when the going is good, rather than becoming complacent.
However, it's certainly not easy to change your mindset overnight, so read on for tips on how to adopt a growth mindset so you can achieve success.
Growth vs Fixed Mindset
A growth mindset is essentially the belief that humans have an unlimited capacity to grow, change and improve. A fixed mindset, on the other hand, is centred around the idea that talents and abilities are innate and thus cannot be changed.
Someone with a growth mindset views failure as an opportunity to learn and improve. They see challenges as a chance to grow their skills, rather than something that they should avoid at all costs.
For a business owner with a growth mindset, success is less important than striving for improvement in all areas of life. When times are tough, the person will have the resilience needed to get back up and try again.
In contrast, a business owner with a fixed mindset is more likely to become discouraged and give up when things don't go their way the first time around. They are less willing to take risks or challenge themselves because they fear failure, and see it as absolute.
But how do you cultivate a growth mindset?
1 - Surround Yourself with the Right People
People who see themselves as fixed and static can sometimes be contagious, so it's important not to surround yourself with the wrong people. Negative attitudes are contagious, so if you want a growth mindset then make sure that those around you think similarly.
When talking about your own business or career goals, for example, you should always surround yourself with people who are actively trying to grow themselves. These types of conversations help you adopt a growth mindset, while also being an opportunity to learn about new techniques and skills that could be useful in the future.
Doing this will inspire you to push towards self-improvement on a daily basis, which is vital.
If you have family and friends who question your goals and encourage you to slack off rather than motivating you to work harder, then it's important to find a group or community of like-minded people
It's also important to seek out a consultant/advisor who understands the particular struggles that you are facing and can guide you along the right path.
2 - Find Your Why
One of the most important things that you can do when trying to adopt a growth mindset is finding your "why". Having a strong reason why will help you persevere in times of doubt and frustration, so don't take this step lightly.
Some helpful questions to consider are:
- What is your business' core purpose?
- Who are you trying to help, and why?
- What impact will it have on the wider world?
3 - Start Using the Word "Yet"
The way that you talk about your goals, ambitions and tasks can have a huge effect on the outcome.
Instead of saying "I'm not comfortable speaking in front of large audiences", say "I'm not comfortable speaking in front of large audiences YET."
When you say "yet" the implication is that the gap between where you are now and where you want to be will change.
This subtle shift in language helps reinforce a growth mindset because it shows that nothing is ever set in stone; there's always room for improvement.
It also gives an indication of your desire to grow and improve. The words we speak are powerful, so be mindful of what comes out of your mouth.
4 - Focus on the Process, Not the End Result
When trying to achieve a growth mindset, it's important that you focus on the process and not just the end result. Focusing on the end result is a surefire way to become demotivated and slip back into a fixed mindset. Remember that the biggest changes happen little by little - you may not notice a difference from one day to the next, or even one month to the next. However, over time, results slowly but surely compound to achieve a transformation.
5 - Don't Neglect Personal Growth
Finally, it's vital that you take time to grow yourself as an individual. Even if your goals are purely business-based, you're still a human being who needs nurturing and care just like anyone else.
Read self-development books, try new things and challenge yourself outside of work, whether that means learning new skills just for fun or taking up a physical activity.
When you become the best version of yourself, you are able to show up as the best business owner you can be.
A growth mindset is the key to success on your entrepreneurial journey. It will help you persevere when things get tough, and allow you to grow into the best version of yourself. A growth mindset not only allows you to achieve more, it also enables you to enjoy the journey on a deeper level, which is crucial in entrepreneurship.