Make sure you have a growth mindset can mean the difference between the success and failure of your business.
People tend to have a mindset of either fixedness or growth, and either of these can shape your life in very different directions.
Having a growth mindset is a valuable trait in anyone. It's especially important for leaders to possess a growth mindset and to foster it in the workplace. Employees can make or break a business's success, which makes it vital to encourage a growth attitude. Businesses can benefit significantly from employees who are willing to grow, learn, and face challenges.
Having the right mindset will impact one's personal happiness, productivity, and achievements.
In business, the right mindset can skyrocket an organization to success by shaping the attitudes of its employees.
What is a growth mindset?
To understand what a growth mindset is all about, it's useful to look at its opposite: a fixed mindset.
A fixed mindset refers to believing that one's skills and abilities are innate. A person who has a fixed mindset thinks that if they are good at something, it's because they have an inherent ability to do it. If they are poor at something, then they lack the capacity to accomplish that task.
A growth mindset, on the other hand, does not consider skills or abilities to be inborn. People who have a growth mindset know that they can become better at anything by putting in the effort. For example, a person with a growth mindset knows that it's possible to become more intelligent by learning. They consider the skills and capabilities to be things that can be developed.
What are the differences between a fixed and growth mindset?
Need for validation: People with fixed mindsets need to get good outcomes from their work to assure themselves that they are gifted. Getting a poor result can create anxiety and self-doubt. Those with a growth mindset are more comfortable with poor outcomes as they place value on the effort they put in.
Risk aversion: People with fixed mindsets dislike taking risks since they desire to have only positive outcomes. They prefer to carry out activities and behaviors that are "safe" and confirm their sense of being capable. A growth mindset welcomes risks as an opportunity to develop and grow.
Desire to learn: Since fixed mindset individuals think that intelligence and other traits are intrinsic qualities, they do not see the point of learning. People with a growth mindset know that skills and great personalities come from time and effort. They are willing to learn and master their business skills painstakingly.
Fear of failure: The experience of failure lowers the self-confidence of a fixed mindset individual. They believe failure indicates a flaw in character. Growth mindset individuals understand that they are more than a failed outcome. They appreciate failure for the lessons it teaches them.
It is quite clear that having a growth mindset is far more valuable and empowering than a fixed mindset. Creating a growth mindset impacts your personal and professional happiness. Having this mindset is especially vital for entrepreneurs and business owners.
For example, if your goal is to become a successful blogger, then giving up after posting a few blog posts is unhelpful. It takes writing 24 to 51 posts to lead to a 30% increase in blog traffic. You'll rarely see success by giving up too soon.
Now that we've looked at what a growth mindset is, let's explore ways to develop it personally and in others.
How do you develop a growth mindset?
One of the healthiest beliefs a person can have is self-acceptance. This means that you accept your imperfections as part of who you are. Making mistakes is inevitable and accepting imperfections helps you learn from them and grow. You'll be able to move on and start over much faster.
You can start building a growth mindset by being more present and by observing your thoughts and words.
When you find yourself focusing on personal flaws or other unhelpful thoughts, make a deliberate attempt to change these thoughts.
Being more mindful of your behavior, thoughts, and words will help you detect negative beliefs. You can then transpose them with more accepting and positive thoughts.
Use the power of "yet"
You can add the word "yet" to change the negative connotations of a sentence. Whenever you're evaluating yourself, others, or a situation, adding 'yet' to a statement can make it more empowering.
Add the word "yet" to statements like "I don't know something" or "I can’t do it."
For example, "The team can't figure this out… yet." or "We haven’t made a profit yet." Using this opens up new possibilities and maintains a positive frame of mind.
The act of learning embodies the growth mindset. Make a commitment to pick up new skills by joining an online course or doing a weekend course.
You can also listen to audiobooks while traveling and read books in your free time. One of the key traits of a growth mindset individual is the willingness to learn. Develop a drive to build skills in your professional arena, to grow your interpersonal skills, or to simply grow in any manner.
Use feedback as a way to grow or help others grow. People who have growth mindsets leverage feedback to get helpful information. If you run a business, create regular feedback sessions and encourage teams to share feedback with each other.
You need to use language in a specific way to make feedback-sharing effective. The next point shows you how your language can shape a growth mindset.
Making use of feedback in the form of reviews is also valuable to businesses. Research shows that 70% of consumers refer to online product reviews before making a purchase online. You can boost your positive reviews and improve your products and services using the feedback in customer reviews. This is a powerful way to develop a growth mindset at the organizational level.
Praise effort, not abilities
When offering feedback or praising someone, highlight their efforts rather than their character. It's also important to recognize the actions a person or team has carried out rather than the outcome of their work.
Praising a person's character or a team's outcome can create more anxiety since people may feel like they need to be perfect to be valued.
Instead, by focusing on effort, you'll motivate your workforce to keep taking action.
Choose challenging and difficult tasks
One way to develop a growth mindset is to keep challenging yourself and to step out of your comfort zone. When you take risks, learn something new, or take up a challenging job, you learn new things.
Deliberately choosing difficult tasks can be exciting because it gives you a chance to grow your mind and get new experiences.
As you overcome challenges, you'll feel more comfortable and will strive to do more - which is what ultimately leads to positive change and success.
Developing a growth mindset will make you more effective as a leader and a businessperson. The growth mindset embodies all the significant traits that lead to success.
You'll develop the ability to take risks, learn new things, and tolerate discomfort, which is essential to manage a changing business environment. When you have a growth mindset, you'll also be more creative.
By using the tips given here, you'll be able to develop a growth mindset not only for yourself but also for your business organization.