Do you know: ' Who is Growth Mindset '?
The growth mindset is the only loyal friend of an entrepreneur.
An entrepreneur with a “growth” mindset is the one, who is able to learn from mistakes and use them to “grow” their business. Those with a fixed mindset might dwell on failures and may give up.
What is Growth Mindset?
Knowing that you cannot fly and no amount of work (practice, hard work, etc.) will change your ability to fly, is a normal, appropriate (life-saving) fixed mindset.
Carol Dweck, an American psychologist, goes on to provide a definition for both:
Fixed Mindset: “In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates success—without effort.” (Dweck, 2015)
Growth Mindset: “In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.” (Dweck, 2015)
A growth mindset encourages experimentation and creativity.
Creativity, innovation, and experimentation are crucial to entrepreneurship and business success - and are especially essential to tech startups.
Such companies need a growth mindset to challenge themselves, advance and set themselves apart.
Tech entrepreneurs need to be persistent and determined. They also need to be brave enough to take risks, while staying thirsty for knowledge and development. At the same time, they need to be able to accept setbacks by understanding that “failures” are stepping stones, or lessons, on the way to success.
Entrepreneurs can cultivate the Growth Mindset, by implementing the strategies, listed below :
View challenges as opportunities
Focus on process instead of End result
Cultivate a sense of purpose
Choose to learn well over learning fast
Learn from the mistakes
Set a new goal for every milestone achieved
Remember, it takes time to succeed in anything.
" I haven't failed. I've just found 10,000 ways that won't work." - Thomas Alva Edison