Did you know there are two types of business owners in this world…
- Those who have a fixed mindset.
- Those who have a growth mindset.
Which one are you?
To grow a successful online business, you need No.2 … a growth mindset, and the best news is that you can go from a fixed mindset to a growth mindset quickly.
In this blog, I’ll outline the difference between a fixed and growth mindset so you can find out where you sit on the scale, and then how to develop your growth mindset to grow your business.
What’s a fixed mindset?
What’s the opposite of a growth mindset? “A fixed mindset means you believe intelligence, talent and other qualities are unchangeable. If you’re not good at something, you typically think you will never be good at it.”
What’s an example of a fixed mindset: Saying, “I can’t do this”, “it’s never going to work” or “nothing ever works for me”,
What’s a growth mindset?
A growth mindset is a positive one, but more than that it’s about belief in yourself, your talents and your ability to learn and grow.
According to Stanford University’s Professor of Psychology, Carol Dweck: “A growth mindset involves the belief that intelligence and abilities can be developed over time with the right environment and encouragement rather than assuming that a person’s skills and abilities are fixed.”
What’s an example of a growth mindset: Saying, “I can do this” or “I can’t do this at the moment, but with more time and practice, I’ll get it!”
8 steps to continually foster a growth mindset
In order to grow your business, you have to combine taking action with a growth mindset. Here’s how to do this:
1. Come back to your why
When you can come back to your why in business, you will quickly find new ways to overcome your challenges with a positive mindset.
2. Set realistic boundaries
Your job is to solve problems for your clients and be willing to go the extra mile. However, this should not interfere with your boundaries. Set expectations from the beginning so you can have healthy relationships with your clients (and prevent burnout).
3. Take the right actions
Business owners can often lose time and productivity because they don’t know what to focus on. When you feel pulled in different directions, answer these fundamental questions: What approach is most likely to generate more leads and clients? What have you tried so far that has proven to work? How is your time best spent?
4. Embrace challenges
People with a growth mindset embrace challenges and look for different ways to achieve their goals even when faced with obstacles.
5. Build your team
Invest in help and build a team sooner rather than later. As you grow, an Online Business Manager (OBM) is one of the first positions that you should fill on your team. Hiring an OBM makes things easier for you since OBMs can wear many hats including HR, finance, marketing and planning. They can also help with expanding your team as the business grows.
6. Execute your growth strategies
Think big and take even bigger action steps! Once you know the actions you need to take, set boundaries and develop a winning team, you can execute business growth plans and strategies. Be sure to track your progress and be ready to make adjustments along the way if they’re needed.
7. Say “yet”
A fixed mindset will give up, a growth mindset says the word yet. “I haven’t mastered this skill … yet!” or “I can’t do this yet and I’m working on it!”.
8. Ask for feedback
People with a growth mindset are not afraid to ask for feedback so they can make their business better, improving every aspect.
Start growing your business today with these tools
Business growth doesn’t just happen overnight, it takes time (even if you’re an overnight success!). Having the right information can help to change your business circumstances and start growing your business in the right ways for you with the right actions. To learn more on how to grow your business with systems, processes, tools and team building, use my blog as your learning resource. Read my blogs on business growth here.
