How to Develop A Growth Mindset
Having a growth mindset can be one of the biggest differences between running a thriving small business and one that is stagnant. As a business owner, adopting a growth mindset allows you to objectively learn from your failures and think outside the box in order to grow your business. In a previous article, we talked about the differences between having a growth mindset and a fixed mindset but knowing this and actually implementing it with actionable goals is completely different.
Here are some actions you can take to develop a growth mindset and elevate your small business to new levels:
1. Be 100% Accountable
Someone with a fixed mindset will avoid taking responsibility for their failures out of fear that it is representative of their identity (ie. I failed on this project, therefore I am a failure). On the other hand, someone with a growth mindset understands that failure is a part of the process and embraces it with 100% accountability. If you view yourself (and your business) as a work in progress, then it’s easier to accept all responsibility. When you act with 100% accountability, it holds space for both you and your team to own up to your actions (both the good and the bad) and opens up discussion for how to improve.
2. Know the Difference Between Growth and Performance
While performance and ROI are critical for business success, it’s also important to recognize the value of growth itself. Creating an environment where employees feel welcome to challenge themselves and try new ideas will open a forum for innovation and advancement.
3. Adjust Your Fixed Mindset
We all have preconceived ideas about other people and are prone to putting them in a box–judging someone as too old, too young, not educated enough, etc. But when you deem an individual as “too anything,” you begin to shut out any possibilities that they could bring more to the table. Recognizing when a fixed mindset comes into play, acknowledging it, and then proceeding to make more open decisions with a growth mindset will do wonders for your business.
4. Become An Expert In Your Field
Someone with a growth mindset understands the value of education and knows that the only way to be at the top of the game, is to continuously pursue new information. Staying up-to-date with the happenings in your field inspires self-confidence and encourages those around you to do the same.
5. Be Grateful For What You Have
When we shine a light inwards, it cultivates a deeper appreciation for what we already have. Gratitude shifts the focus from comparison and instead allows us to understand what makes us (and our businesses) unique. Gratitude is a gift and a core requirement for a growth mindset as it pushes you to embrace what you already have and to find deeper value in it.
Developing a growth mindset takes time. Many of us are taught zero-sum thinking growing up, and reframing takes time and diligence. Notice the little things that reflect your mindset in your everyday actions and decisions and take small steps to break away from those patterns of behavior.
