In mindset studies, depending on the answers given, participants are given an answer as to whether they have a growth mindset or think in a fixed way. The belief that skills cannot evolve and that intelligence has a limit point beyond which it cannot develop betray a fixed mindset. People with a growth mindset are convinced that even if it takes time, constant effort leads to progress.
The difference in mindsets
The same situation or event provokes different thoughts and reactions in people. When a person starts a business, he or she may approach it in two ways if he or she is not a finance professional. If he has a fixed mindset he may say to himself “I am not good at maths, so finance will certainly make it difficult for me”. People with a growth mindset will see an opportunity in this and think “I don’t understand finance but this is a good time to learn more about the subject”.
Thinking of abundance as a mindset, from every challenge an opportunity to improve and learn new knowledge is sought. Given the many challenges faced by startup entrepreneurs or those at the beginning of their careers, a growth mindset can be instrumental on the path to future success.
Why is a growth mindset needed?
Harvard Business School has identified four reasons people need a growth mindset. When making a career change or developing a portfolio career, this mindset allows for going beyond the current field of work and exploring new horizons. It also develops one’s resilience and ability to get out of difficult situations faster and move on. A fixed mindset limits people and prevents them from learning from their mistakes because of their belief that improvement is not possible.
Last but not least, Aristotle’s phrase that “the more one knows, the more one realizes that one does not know” is valid. This causes people to remain humble and down-to-earth.
The power of “yet”
The use of phrases like “I can’t do this”, “I won’t get it right” or “I already failed at this once” close the mind. One sets these limitations for oneself. There is great power in adding “yet” to the end of such phrases. “I don’t have a solution to this yet” provides a dose of positivity and allows more creative thoughts to seek an answer.
A reward for effort
Often, many factors that determine the success of a task are beyond a person’s control. Putting the focus on the end results instead of the smaller steps along the way that are completed with a lot of effort takes away from the joy of what has been accomplished. In order to keep motivation high, one must praise oneself for the effort that step by step moves the big goal forward.
