“When you go from a fixed mindset to a growth mindset, a new world of possibilities opens up..” - Keller Williams Realty

I have been reading a lot about mindset recently and it's not as clear-cut as I imagined!

Does our mindset determine failure or success in business? According to Carol Dweck, a Stanford psychologist, that’s exactly what happens. She says our perspectives play a substantial role in deciding our achievements and successes. But, could choosing one mindset over the other effect the growth of your business or career?

With that said, Lets look at a fixed vs growth mindset and what that could mean for your business👊

The Fixed Mindset

If a person has a fixed mindset, they believe that intelligence, talent, and other qualities are unchangeable. These people often believe they’ll never live up to others' expectations, and they also think that their fixed qualities are the only contributor to success.

The Benefits and Disadvantages of the Fixed Mindset

While it does have benefits in certain cases, Carol Dweck’s work focuses mostly on the drawbacks of the fixed mindset. A person may become quite defensive when facing constructive criticism, they may feel jealous of others’ success. It’s pretty common for someone with a fixed mindset to miss out on opportunities because they don’t believe in their own potential.

The Growth Mindset

A person with a growth mindset believes that talent and intelligence can grow with experience, effort, and time. These people learn the value of exploration; they thrive on new challenges and experiences. Instead of seeing a mistake as a setback, a person with this mindset sees it as a learning experience that can be used to achieve their potential.

Pros and Cons of the Growth Mindset

Most researchers believe in the advantages of the growth mindset. From early on in a person’s life, learning this mindset can help them understand that they can reach their fullest potential with effort and guidance. Those with a growth mentality aren’t focused on looking good; they’re concentrating on learning new things and meeting challenges head-on. However, this mindset can be harmful. It’s quite common for people to focus on effort rather than the methods they’re using.

Which Mindset is Better for Business Owners?

To be successful, you’ll need to learn about growth and fixed mindsets. Very few people are 100% one way or the other; most of us typically fluctuate depending on the situations we’re in. While a fixed mindset may hold us back from tackling new challenges, it can be helpful for new businesses.

The limitations imposed by a fixed mindset may keep a rookie business owner from taking on a project that’s beyond their experience and skill. In the long term, working toward a more growth-oriented mindset should be a primary goal. If you’re a content creator, maybe you can learn more about social media. If you’re a web designer, some coding experience may be helpful.

A Few Final Thoughts on Fixed and Growth Mindsets

There’s no hard-and-fast formula for success. As far as fixed and growth mindsets are concerned, we can become more successful if we learn about each separately and use them when the situation calls for it. Whether you have a fixed mindset or a growth mindset, you can put your own unique qualities to work and achieve success.

What are your thoughts on Mindset? Do you have any golden nuggets of wisdom to share or just a quick comment?