15th November 2019
Why are some entrepreneurs successful and others not?
What is different about those who are successful and how can I do the same as them in my business?
A bit about Mindset
Mindset can often be the key to a successful business, without the right mindset you can be happily going along and then as soon as you hit a stumbling block you crumble and your business suffers as a result.
Mindset is key and it can often be the make or break of a business. Particularly for small businesses where the business owner is often working on their own.
Working on your own can be tough and when you’re the only one that knows your dream and vision inside and out. If it starts to go wrong, you are the only one that can pick it back up and keep going. Of course, the support of friends and family is so helpful and is really important too, but ultimately you are the one that has to pick your business back up again.
It is easy for small business owners to really feel the pressure of the responsibility of their business piling up when they don’t have anyone else in the business to turn to or to share the load.
This is why that business owner mindset is so important.
So, what mindset should you be aiming for and how can you implement that into you business?
There are two main types of mindset we are going to look at to start with.
The Growth Mindset and The Fixed Mindset.
The Growth Mindset
To fall into the growth mindset category you will be someone who views life as something with many challenges, but challenges you want to overcome. You won’t be afraid of tackling the hardest tasks and you are always on the lookout for ways you can grow and learn.
A growth mindset considers how a problem is viewed and how your talents are viewed.
Someone with a growth mindset will see set-backs as a way to improve, they focus on how to learn, grow and improve from their experiences. Mistakes are not a bad thing, and they know they will only learn and grow from making mistakes.
Their gifts and talents are not restricted, and they can always be improved. There is no limit on what they can do and where they can take their talents.
As soon as you have the mindset that you can become a smarter person and that your intelligence isn’t stunted you will become more and more interested in doing everything you can to better yourself.
The Fixed Mindset
A fixed mindset is when someone believes their intelligence and other qualities are FIXED traits. For example let’s look at a sportsman or a professional singer or dancer. Someone with a fixed mindset would only believe that these people were born with these talents.
Now I am not saying everyone could be the next David Beckham or Beyonce just by changing their mindset, they may have been born with a level of talent there, but they wouldn’t be where they are today without honing in on that talent and receiving huge amounts of coaching, and most importantly, putting in hours and hours of hard work to get where they are today. They have the strive and determination to better themselves and they know what they want to achieve. They would do anything to get there.
People with a fixed mindset won’t work to improve their skills. They think they are already at their highest level of intelligence and generally won’t push forwards towards goals or things they want to achieve.
It is a stagnant mindset and when they see a bump in the road it is as a result of their own failings and cannot be improved as that is where their gifts have reached a limit. They were destined to fail and just need to move on a do something else rather than work at something, despite how hard it may be.
They may feel like they are stuck in their life with no direction or the capability to move their life forward.
It’s a no brainer that a growth mindset can really help your business: new ideas are explored, people are allowed to develop their talents, and a culture can be built that accepts failure and allows it to be used as a means for development and improvement.
It’s more than just positivity and optimism, it is seeing failures as opportunities and a place where the business can grow out of a time of adversity. Learning from past experiences and mistakes by yourself and others will all be part of a growth mindset.
It’s about acceptance. You will make mistakes and that’s ok, you can learn from them, it’s not a limit to your abilities, your abilities can always be stretched beyond what you think.
“Success is the ability to go from one failure to another with no loss of enthusiasm”
Look at rewarding effort, how much you’ve grown, the actions you have taken to grow your skills and develop your talents and not just the traits you have naturally as an individual. This will help you to really notice your achievements and see how the effort you put in helps in making a difference to your success.
How to encourage a growth mindset and implement it into your business:
Try to learn at least one new thing everyday
This could be done by:
Reading a business or mindset blog like this.
Picking up a book you wouldn’t normally choose.
Watching a documentary
Listening to a podcast rather than the radio on the way to work or whilst you are walking the dog
Sign up to a course or seminar
Go along to a local networking event
The most important thing you have to do is drop the belief that you were born with the talents and learning capability that you have now. You have to believe that there is ALWAYS room to grow.
How does this effect your business?
Well let’s think about it... Do you think successful companies just happen?
All businesses started small, even if they had huge investment from the beginning, they still started out as nothing. Companies grow into their directors vision, with guidance, support, and a lot of hard work from those involved. But if those people didn’t believe that they could create a successful business, then it would never have happened. A negative mindset is just as restrictive as a fixed mindset and both go hand in hand.
With all this in mind, take a minute to write down 3 things you are going to do to help you grow.
After all, what is the worst that could happen..?
If you have read the above and want some more great resources, then check out this fantastic Podcast by Suzi Witt if you are feeling overwhelmed in your business.
Or if you are feeling a bit flat and want to reset and encourage a growth mindset check out this amazing podcast on 7 things to try when you loose your mojo:
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