How to Use a Growth Mindset to Reach Your Goals

Colleen Egan, Writer

When you’re building a business, having the right attitude is key to developing your team and, as a result, meeting your objectives. That’s why it’s so important to have a growth mindset.

People who have a growth mindset believe their talents and skills can be developed. People with fixed mindsets think their talents are innate and they don’t invest much time trying to improve or grow.

When companies embrace a growth mindset, they do not believe that a person’s talent or skill is set in stone. They may place a higher value on a person’s potential than on their pedigree. Instead of hiring an outsider with a perfect resume, they promote a committed, hardworking employee within the company.

A fixed mindset is the opposite of a growth mindset. An organization with a fixed mindset is less likely to take risks. It doesn’t encourage collaboration or allow employees to develop as leaders within the company.

Fixed-mindset firms stick with traditional ideas about business. While they might experience success, they aren’t empowering employees to reach their full potential.

Fostering an environment in which these types of opportunities can arise is what a growth-mindset firm is all about. Here are some ways that you can use a growth mindset to build a successful business.

Promote from within

As noted above, one of the things that sets growth-mindset companies apart from fixed-mindset companies is that they value potential over pedigree. When it comes to filling roles, a growth-mindset firm would first look within the company because it believes in developing employees and encouraging them to build their skills. As a result, you may fare better when it comes to talent retention because employees feel valued and see there is room for upward mobility.

Encourage experimentation

In a growth-mindset firm, the leadership is more likely to foster an environment that values experimentation and accepts failures. Fixed-mindset companies tend to be organizations where people stay in their lane and don’t admit to mistakes.

It’s understandable, then, that growth-mindset businesses tend to be more creative, collaborative environments. Encourage employees to pitch ideas and suggest ways that you could make processes more efficient and effective. When you have a workplace where employees feel free to try out new ideas without fearing failure, your business benefits from their innovative thinking.

Focus on continuing education

Developing the future leaders of a growth-mindset company requires an investment in their skills. Workshops and classes on effective communication and management can help prepare your employees for leadership roles. Courses like graphic design and coding can help employees step into new roles or create opportunities for your business. When you have a growth mindset, you understand that employees are your greatest asset.

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Colleen writes for Square, where she covers everything from how aspiring entrepreneurs can turn their passion into a career to the best marketing strategies for small businesses who are ready to take their enterprise to the next level.