What is a Growth Mindset? Why should entrepreneurs and business owners develop a growth mindset? Well they are more likely to transform their businesses into a profitable firm using a growth mindset, it is a skill critical for every entrepreneur.
To understand what a growth mindset is, you need to understand what it looks like. It is a belief that your efforts, and those of other people, will lead to success in business and goals. No matter the situation, a growth mindset encourages you to overcome obstacles and view setbacks as opportunities, to learn and reevaluate what you are trying to achieve.
You should be able to look at “failures” objectively, take them for what they are and use them to learn from and project yourself forward,rather than letting them hold you back. Look at them as lessons, we are always learning and growing in ways we didn’t think we could, yet here we are.
There are two ways to think about failure: The first is when you fall short of something that you have done before. The second is when you just miss the mark of something that you thought you would never be close to achieving. If you happen to feel more like the second one you need to try and develop your growth mindset, you need to process what went wrong, what went well and how you can improve your method the next time. Move past it and focus on what is ahead of you.
Growth is all about learning and adapting, applying new skills to help get through some tough situations. You need to be willing to work for what you want, adapting where needed until you reach your ultimate goal, just don’t forget to celebrate the small wins throughout your journey. You should never focus on the past, focus on the future, what is ahead of you. Use the past as a tool to reflect and then leave it at that. Do not allow the setbacks to halt your growth.
With this being said, you need to ensure you are prepared for when such times arise where you may hit a bump in the road, be prepared for difficult times and prepare yourself for failures.
As many of us know, to grow your business successfully, it is imperative that you are willing to take risks. People who do not have a growth mindset are often those who are scared to take the risks as they believe that they will fail, rather than what benefits they could gain. On the flip of a coin, those who have a growth-minded outlook know that there is always a risk in business, but they are prepared to deal with this risk if there is possibility of growth and an advancement toward their goals.
A growth mindset is the foundation of entrepreneurial success and without it, businesses won’t grow. Ask yourself: Who are my customers? Am I marketing the right way to them? Am I paying enough attention to what they want and need in regards to this product/service? All of these questions will be able to help you in the long run. Why not reach out to your customer base, interact with them, get a feel for the type of people they are so you are able to connect with them on a much more personal level.
A growth mindset is looking at the process you take and make sure you are able to learn from the steps you are taking. It is all about learning and improving for your customers but also yourself and your business.
“Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill