In 2014, I decided to start running. I’m not talking just 2Km jogging down the street. I’m talking marathons. How hard could it be? I just needed to get fit, run a little longer each week, and there you go, right? To clarify, I had NEVER run anywhere in my adult life. What I soon learned was that alongside my physical fitness, I was going to need a mindset that kept me going as the training got tougher. Without a doubt, our minds are one of the most powerful things on Earth. Your body will keep going far longer than you think it can. Your mind tells you when to quit.
Not only that, the things that you grow up telling yourself will likely end up forming your personality in the long term. Are you someone who loves challenges and who doesn’t shy away from risks? Are you eager to develop new skills throughout your life? Or, are you someone who thinks intelligence and creativity are static entities that you are born with? That is, that you can’t change significantly over time and you have fixed traits that you cannot change?
These are the two mindsets we grow up with. This is the basis of Carol Dweck’s work on fixed vs. growth mindset. She’s a world-renowned Stanford psychologist who writes:
‘For twenty years, my research has shown that the view you adopt for yourself profoundly affects the way you lead your life’
Dweck’s study contradicts the popular belief that your basic abilities are in-born and do not change over the course of your life. Her research has shown the power of developing a growth mindset and how it works wonders for children and adults alike.
Let’s have a closer look at what these two mindsets entail:
What Is Fixed Mindset?
As the name implies, a fixed mindset is rooted in the belief that your basic talents are innate. You’re born with a certain amount of them and that’s that. People with a fixed mindset don’t try a lot of new things, out of fear of being criticised. Or merely because they don’t want to look silly or seem inadequate. Very little effort is observed when it comes to making modifications to their current skillset. Using my marathon training example, if I had had a fixed mindset, I would have believed that I had no talent for running and that there was simply no way I could train myself to accomplish that goal.
What is a growth mindset?
On the flip side, a person with a growth mindset will always be open to criticism and open to failure. People with a growth mindset believe that their intelligence and learning grows with time. They realise that their effort has a direct impact on their success. Growth mindset emphasises that basic qualities of a person are a starting point. These qualities can be further polished through effort and hard work. A growth mindset allowed me to believe that achieving my goal of running a marathon was simply going to be a reward for my effort and training.
The figure below illustrates the differences in the two mindsets.
Why is a growth mindset important in a business context?
It’s important to understand that the most basic beliefs we carry about ourselves shape our reality. Our goals and what we do about them over time stems from this fundamental principle. With that being said, the fixed ideas in your mind will stop you from bringing positive changes in your life and work.
On the other hand, having a growth mindset sets the foundation for defining your goals and the effort needed to achieve them. Clearly, people with a growth mindset achieve more because of their perspective. They worry less about looking silly and making mistakes, and more about learning. They allow their minds to look for more opportunities to ‘grow’.
There is a strong Business Case for a growth mindset. Businesses grow and evolve as their employees do. If employees are encouraged to pursue learning and growth, it follows that the organisation should be quick to evolve as well. In research (listed below), organisations which emphasise learning are 46 percent more likely to be first to market, 58 percent more prepared to meet future demand, and 37 percent more productive.
People pull together to achieve goals in growth mindset organisations, because they aren’t busy trying to save face or competing with their peers. These individuals are 47 percent likelier to say they trust their colleagues and 34 percent likelier to feel a strong sense of commitment to the company. They’re able to form effective teams and accomplish meaningful goals.
There is certainly overwhelming evidence that a growth mindset is both beneficial for you and your goals as well as your business.
Over the next few weeks, think about your mindset. Do you have a tendency to have a fixed mindset? In what areas?
Next time, we will discuss how to implement a growth mindset with your team as well as with you each day.