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According to business mindset coach Topsie VandenBosch and our Commercial Director Hugh Acland, having the right mindset is key to the success of your business.
Key takeaways
- A growth mindset is about believing you can always improve and develop your abilities
- Having a growth mindset is crucial for business success - it prevents you from getting stuck
- Developing a growth-focused mindset will help you overcome challenges and take your business to new heights
What is growth mindset?
"A growth mindset describes a way of viewing challenges and setbacks. It's about believing that your abilities and potential can always be developed and improved, and understanding that setbacks are golden opportunities to stretch, learn and evolve," explains Topsie VandenBosch, licensed psychotherapist and business mindset coach.
When you have a growth mindset, you realise that your failures aren't dead-ends — they're stepping stones to the next level up.
Why is a growth mindset important for your business?
"It's important to have a growth mindset (rather than a fixed mindset) because a fixed mindset will keep you stuck in a plateau, every single time," says Topsie.
"When you're trapped in a fixed way of thinking, you play small. You stick to what's safe and familiar, terrified of rocking the boat. You see every challenge as a threat, rather than an opportunity to innovate and expand. You also subconsciously put a cap on your company's potential, because deep down you don't believe you have what it takes to aim higher."
5 tips to become more growth focused
1. Celebrate your progress
"Start celebrating your progress, not just your final outcomes. Make sure to recognise the value of hard work and perseverance, even if progress seems slow. Honouring the small wins will retrain your brain to believe that growth itself is the goal," says Topsie.
Hugh from Capital on Tap adds, "This might be your 100th order, the fact that you're finally turning a profit, or maybe you've been able to expand your team."
2. Step outside your comfort zone
"Getting outside your comfort zone on a regular basis is a huge part of adopting a growth mindset. Growth comes from stretching your abilities, and, regardless of the outcome, it's worth developing that risk-taking muscle," explains Topsie.
Hugh says, "What you class as a risk will be different for every owner and every business, but things like launching a new product, expanding into a fresh market, or looking for new investment are all things that might feel a bit daunting, but could lead to some real growth for your business.”
3. See failures as learning opportunities
On embracing failure, Topsie says, "Every time you reach a setback, think about what you can take away from it or what you can learn from it for next time. Finding opportunities to learn and improve in every situation is key for continuous development."
4. Surround yourself with growth-minded people
"It's harder to break out of a fixed mindset if you're surrounded by others who are also a little stuck. Build a community of people around you who will cheer you on and challenge you to grow. This kind of support and encouragement will help you stay on track, even if things get a little tough," advises Topsie.
Hugh also suggests, "Look for mentors or colleagues who can provide you with constructive feedback. These outside perspectives can help you to refine your strategies, improve your skills, and keep you working towards success."
5. Be kind to yourself
"No matter what you come up against, make sure to be kind to yourself. Even if you mess up or don't quite achieve the outcome you were after, show yourself some compassion. Remember that there's always something to learn from, and the ability to cheer yourself on in failure is a sign of growth," says Topsie.
The bottom line
Success in business starts with the right mindset. By developing a growth-focused perspective, you'll be better equipped to overcome challenges and take your business to new heights. So start putting these tips into practice today!
