Driving your business on a pathway of growth and profitability is made so much easier with the right mindset – every element of your business is influenced by your decisions, beliefs, actions and attitudes. If you think negatively, you’re already creating self-imposed limitations. Thinking positively creates an abundance of possibilities and opportunities.
What is a growth mindset?
A growth mindset is believing that abilities, performance, and intelligence can be developed and improved upon by learning, mistakes are viewed as a springboard for growth and a learning opportunity, rather than a roadblock.
Why does mindset matter?
The key thing to remember when it comes to mindset is the ripple effect. If you’re setting the standard by adopting a growth mindset, it will ripple out through your teams. It’s better to try and fail than not to try at all, because you are bound to learn something in the process.
On the other hand, having what is called a ‘fixed mindset’ is what creates these self-imposed limitations. For example, believing success is down to intelligence and performance leading to success because both counts measured at a higher-than-average standard. Having a fixed mindset leads to a belief that intelligence and talent are limited, so there is no use in working to develop or learn. And, because they believe they were born with a restriction on their talent, those with a fixed mindset put this same restriction on their effort – and subsequently, their success.
Adopting a growth mindset
Change of any sort is easier said than done. When it comes to changing your mindset, there are lots of ways to help that change come quicker!
- “It’s never too late to learn” – saying this to yourself, and your respective teams is a fantastic way to create positive change in terms of mindset. The more we say something, the more we believe it – think of it as a positive affirmation, you’re speaking the words into existence and, believing that it’s never too late to learn will transpire into you viewing risks as potential learning curves.
- “It’s ok to fail – at least I learned something” - Failure is often frowned upon by people with a fixed mindset. However, failing is one of the best ways to learn. Having a fear of failure can be limiting because it can hold you back from trying. Adopting a growth mindset is all about figuring out how to fail well and realising that learning from your mistakes is what eventually leads to success.
- “I can’t do that…yet.” – Teachers and parents are actively being encouraged to teach this to their children now. It’s a great way to instill a positive attitude to building a growth mindset as it promotes an attitude of unlimited potential for the future.
- "Your health is your number one priority" – without your health, you can’t perform at your best. Getting up and about for 30 minutes a day helps aid your physical health and consciously deciding to protect your mental health by developing boundaries to ensure you have a healthy work/life balance will keep you in good stead to continue to support yourself and others around you.
These tips can help you get a good starting point to drive positive change. Sage have also published their Mind over Minutes e-book, which offers more information on how growth mindset promotes profitability. Of course, if you want any personal support - please feel free to get in contact with the Innov8 team.