Running a business is hard – sometimes incredibly hard – and it’s very easy to develop a failure mindset. This comes from feelings of fear and self-doubt, as business owners can sometimes forget about growth, as they are simply too busy doing what they can to survive on a day-to-day basis. And to be honest, this is understandable, and it’s something many people can relate to.
However, for business success, that failure mindset needs to be replaced with the growth mindset. This switch is equated to thinking positively, as the more business owners can do to move their focus to growth, the less time they will spend thinking about failure and other negatives. This is how business luminaries as Steve Jobs and Jeff Bezos got to where they wanted to be, two people who started from relatively small beginnings to become billion-dollar business owners. And for a recent real-world example, this is also how business entrepreneur Colby Wegman became so successful, a man who went from owning one business to five successful businesses in the South and Southwest of America.
When you have a growth mindset, you will have the incentive to overcome any obstacles in your way. You will have the drive to turn around your business when it is struggling. And you will inspire your employees, who will be encouraged to think positively in all that they do.
To develop a growth mindset, you should:
#1: Avoid comparing yourself to others
Envy will get you nowhere in business, so don’t unfairly compare yourself to people who you think (perhaps mistakenly so) are doing better than you. You might only get downhearted if you do. Instead, focus on your strengths and abilities, and keep in mind all of your past successes. When you start to look upon yourself more favorably, you will be able to think more positively about the future.
#2: Educate yourself
Learning is essential in business, and it should never stop. The moment we stop learning is the moment we start to fall behind our more educated competitors. So, focus on your education. By doing so, you will hone your skills, develop new talents, and have the means to make improvements in your business. With knowledge comes the power to grow your business, as you will be mindfully aware of what you need to do to ensure success.
#3: Learn from ( but not dwell on) your mistakes
Don’t hold onto your past failings as you will find yourself slipping into negativity. You will start to question your abilities as a business leader, and you might start to worry about what others will think of you. You will then start to experience that failure mindset again. Instead, use your mistakes as an opportunity for growth. Remember that you’re human and that you can do better. Learn from the mistakes you made and work out what you can do to make improvements. When you focus on your learning instead of on your failing, you will be able to alter your thinking and push your business forwards.
A growth mindset is a belief that both you and your business can be improved. It is the mindset that helps you have focus and purpose, even when times are hard. Without it, you will limit your potential and limit the reach of your business. So today, if you are thinking negatively, try to turn things around. Do what you can to develop a growth mindset, as this positive thinking could shape the future of your business.