Founder and chief Maud Medical Clinic. Entrepreneur. Business development of medical practices in Alberta, Canada.
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Whether the business is a beachside taco stand or multinational hotel chain, every successful business has one important holistic core element: a growth mindset.
There are essentially two types of mindsets. Fixed and growth. Each is explored in a number of resources available, and one I recommend is Mindset by Carol S. Dweck, Ph.D. Some people can have a fixed mindset in certain areas of their life and a growth mindset in other areas. However, overall success and happiness require a holistic growth mindset. If talking about business specifically, it is imperative that every team member has a growth mindset for optimal success.
Fixed Mindsets
Those with fixed mindsets believe that intelligence, character and creativity are traits in people that cannot be changed. They believe that success is dependent upon inherent intelligence, and they value talented people because talent alone creates success.
People with fixed mindsets often do not respond to or cope with setbacks well. They typically avoid trying new things and seek to blame others for setbacks.
Growth Mindsets
Those with growth mindsets believe that intelligence is only the start to learning and failure is not evidence of unintelligence. Failure signifies a lesson learned and creates opportunities to grow. Basic talent and abilities are not static but can be improved over time through hard work and dedication.
People with a growth mindset actively seek learning opportunities and foster a love of learning and resilience.
Examples
A fixed mind might say, "When I struggle with something, it means I'm a failure." A growth mind might say "When I struggle with something, it means I'm learning."
A growth mind might say "This deadline is tight; we are up for the challenge." A fixed mind might say "We will never make this tight deadline."
How Business Leaders Can Develop Their Growth Mindset
Change begins with you. Adopt this mindset in your own personal and work life. Lead by example as others will naturally follow you. People instinctually want to be happier and more fulfilled. Once you practice this form of thinking, you will notice everything around you changes for the better because a growth mindset provides a perspective where setbacks are a gift and/or opportunity to learn and grow. You and your business will become more resilient.
How Leaders Can Bring The Growth Mindset To Business Operations
• Implement a policy that encourages every team member to focus on continued growth and betterment.
• Foster growth through mistakes. Because mistakes happen all the time, praise and value team members when they openly share the lessons learned from mistakes.
• Ask people to write down lessons learned so that others can learn and build empathy.
• Recruit team members with growth potential.
• Recruit people who are willing and prepared to learn and be coached.
Conclusion
Adopting a growth mindset is an essential element that helps support growth and build resiliency at every level of your business — and in your personal life. Individuals with growth mindsets can be more productive in the workplace and build fulfilling relationships with others. This simple shift in one’s mindset can make the world a better place — one mind at a time.
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