Critical Mindset For Entrepreneurs

In entrepreneurship, it’s important to have the right mindset. There will be highs and lows in each journey. Sometimes the journey sucks where you’ll have to layoff employees because of lack of growth. Other times, it’s great with a new surge of customers. For these different experiences we need to be ready to cope with the highs and lows. How do we prepare ourselves you ask? It begins with our mindset. It plays a big role in how we view these situations.

There are two mindsets Growth vs FIxed that Carol S. Dweck, Ph.D. talks about in her book Mindset: The New Psychology of Success. Individuals with a growth mindset, focuses on the journey to their goal. The characteristics of these individuals are positive attitude, not easily deterred, love challenges, and most importantly resilience. When these individuals realize their fighting an uphill battle, they look and find ways to continue forward. Even if they fail they find what they have learned and move forward.

On the other hand, fixed mindset focuses on the end result of their goal. The characteristics of these individuals are similar to the Growth mindset, expect their lack of resilience in times of trouble or failure. These individuals face failure with personal failure and crumbles. They do not gain anything from not reaching their goal and move on. There is nothing more this they can do to reach their original goal.

As entrepreneurs our journeys are unpredictable. We don’t know how our lives are going to change in a year, a month, a week from now. Our mind and body has to be ready for those volatile moments. So what can you do to get this growth mindset.

  1. Understand what type of mindset you currently have (If you’re a growth mindset, continue doing you and go to step 5)
  2. Write down accomplishments throughout your journey (This is like the highlight reel)
  3. Meditate on what you have gained, if you’re venture failed at this moment.
  4. Write down what you have learned from the experience
  5. At the end of your journey, cherish your experience and write up an another game plan to reach your goal(s).
The great news about our mindset is, it’s our mindset. We can change the way we think by practicing and catching ourselves when we slip. I know because I use to have a fixed mindset. It was all or nothing for me. I gained nothing if I lost. But rethinking about my past experiences, this couldn’t be further from the truth. I have met and gained a lot throughout my failed experiences. I hope you do too!
Think and Grow Entrepreneur