The famous saying, “You can do anything if you set your mind to it” couldn’t be truer for entrepreneurs. Successful entrepreneurs tend to have what is referred to as a “growth mindset” as opposed to a “fixed mindset”. Having a growth mindset means that people believe their most basic abilities can be developed through dedication and hard work — brains and talent are just the starting point. On the other hand, people with a fixed mindset believe their basic qualities, like intelligence are fixed.
One thing is certain, if you want to be a successful entrepreneur, you really want to develop your own growth mindset. To make this happen, there are three changes that need to be made:
1. Deconstruct: Break down large problems into smaller tasks.
If you put “start a company” or “develop a new product line,” on your to-do list the sheer scope and complexity of the project will overwhelm and paralyse you with fear and uncertainty. Instead, break down projects into smaller tasks and rank them based on value and urgency. Then begin to execute or delegate projects in priority of importance. If you take projects step-by-step, you start to build self-confidence and momentum for the business because the projects seem more doable.
What eventually happens is that by stacking smaller successes on top of one another, you will eventually build a business that will start to run on its own.
2. Evolve: Learn from your mistakes.
When you develop a growth mindset, obstacles are viewed differently. Instead of giving up when faced with hurdles, these situations are viewed as learning experiences. The quicker one can learn and adapt from their mistakes, the better off they will be in the long term.
3. Persevere: Persist in the face of setbacks.
Some problems can be daunting and difficult to solve, but there are few, if any, that are impossible. When you become stuck, research the problem to find solutions. Talk to experts, mentors, employees or anyone who might be able to offer insight. The solution may involve a number of steps but at least you have a clear path you can follow.
These might seem like really obvious steps – but applying these principles will bring perspective to your business growth.