What type of business owner are you?  Are you on a path for growth?

If you are wanting to grow then you need to have a Growth Mindset. 

Growth Mindset

A growth mindset allows you to be in control of your business journey.  

  • you will continuously want to learn
  • you will have or want to create a strategy to grow
  • growth will be achieved because of your effort and experiences
  • you are open to change

Fixed Mindset

A person with a fixed mindset is someone who is not in control of your destination.

  • you will have the attitude “I’ve always done it this way”
  • you don’t like change
  • its not broken so why try to fix it
  • my business is doing just fine without your help

You may have run your business for decades a certain way, which could work for you, but what if there is a better way, a way that gave you more efficiency, improved productivity, more revenue from new markets, new opportunities and greater profits, wouldn’t you want some of that?  With a fixed mindset you probably won’t but with a growth mindset you will want the performance of your business to constantly evolve and be better.  With a fixed mindset you will see innovation as a risk and an expense and therefore your business will fail to keep up with changing demands, with the possibility of losing market share leading your business into decline.

Businesses that are run by people with growth mindsets will see some costs as an investment rather than an expense such as mentoring, coaching, training courses and gaining additional qualifications. Furthermore, you will pursue a challenging strategy that bring opportunities.

Sometimes you find that you have a fixed mindset about certain aspects in business but for other tasks you are driven by a growth mindset, so can you have both?  This is something that is debated often.

Even for myself, I find that I have certain ideas about the way something should be done, I don’t want to change my thoughts on that process or task but otherwise I am constantly learning, looking to grow, innovating, coming up with ideas, changing things, wanting to improve and this is a sign of a growth mindset.  We all have certain ways of doing things, that is our routine and what makes us unique but that doesn’t mean we have a fixed mindset.

growth business

So what does someone with a fixed mindset look like in reality?  In business you probably have been running your business for a number of years, things have always been done a certain way, you probably haven’t upskilled much (apart from maybe learning how to use technology) but processes could be the same as they were when you started.  You probably like doing things a certain way and are reluctant to accept advise from outsiders and new employees.  You like things as they are which probably are quite manual, paper based and believe it or not time consuming.

So changing your mindset and embrace technology, new ideas from staff, ditch the paper methods and old processes to increase your company’s productivity, reduce costs and create efficiencies.  These will improve your profits, create more time and reduce errors which will improve your business performance allowing you to invest that new found cash into innovative ways of working and entering new markets that allows your business to grow sustainably.

So, start thinking differently, think to the future and get a growth mindset.