What is Growth Mindset?!

Do you ever hear a word or concept over and over that seems to pop up out of nowhere?

Lately everywhere I turn I hear the word Mindset. You know what I’m talking about, right? Everyone seems to be talking about it. What the heck does mindset even mean?

I’m not sure when the word Mindset crept into my conscious, but I hear it everywhere. I can’t shake it. It’s like a song on re-run in my head.

Then one recent morning an invite from my local co-workspace popped into my inbox. It was for a workshop on how to grow your business using a Growth Mindset.

I stopped in the middle of what I was working on.  I had heard this word enough times and it was time learn more.

What does Mindset mean?

I started my reseach pretty basic I looked up the defintion.

And I’ve got to be honest. The definition wasn’t anything surprising. According to dictionary.com Mindset is

1. an attitude, disposition, or mood.
2. an intention or inclination.

And like words include: psyche, attitude, mentality, ethos, medicine, therapy, mind, & behaviorism.

There are no surprises here, right? Mindset sounds like it SHOULD relate to attitude and intention.

So what’s the big deal? Why is everybody talking about Mindset? I went to the workshop because I NEEDED to find out.

What is a Growth Mindset?

Growth Mindset, I learned, is the difference between striving to achieve realistic goals through increased authority, centralized decision making and risk mitigation vs striving to achieve ambitious goals by expanding influence, empowered decision making and maximized learning.

That was a mouthful. I’m going to break it out into more manageable parts.

• Growth Mindet Goal Setting
• Expand Authority vs Expand Influence
• Centralized vs Empowered Decision Making
• Risk vs Learning

I’ve also made a worksheet for you to take notes on and brainstorm your own Growth Mindset. You can download your free worksheet by clicking here.

Growth Mindset Goal Setting

Growth Mindset starts with goal making – but not just any goal making.

During traditional goal setting exercises its realistic to expect someone to set a goal that results in approximately 10% growth. This realistic goal likely comes with a plan.

In comparison, someone following a Growth Mindset process will set HUGE BOLD goals that yield 10 times the result.

They aren’t driven by a plan but a transformational purpose or vision.

Can you imagine what it would be like to achieve a goal 10x’s bigger then where you are now? To be driven by the vision to transform something. Its exciting and scary all at the same time, right?

Take a minute to let this idea sink in.

What HUGE BOLD goal can you set RIGHT NOW that will push you toward transformational growth in your business?

Write this HUGE BOLD goal down on the worksheet I made for you – you can get your free copy of the worksheet  here – I will be referring to this goal again.

Expand Authority vs Expand Influence

Anyone can stand on a stage and talk about a topic and make themselves sound like an authority.

Expanding influence though, is about developing circles of influence.

To create a circle of influence you have to give more then you take. Expanding influence is about collaboration and creating community.

Have you ever been to a networking event where you wanted to run out the door because everyone acted like they knew more about everything than anyone else in the room? They were trying to expand their authority.

Compare that to a networking event where people fed off each other’s specialized knowledge, ideas flowed and the energy popped. I bet you left that event excited about the new connections you had made and where those people and ideas could lead you and your business. The circles of influence were expanding.

Another way to look at expanding influence is Starbucks. The workshop presenter used this example and we were all little perplexed. Starbucks however, expanded their influence not by being an authority on coffee but giving people a place to be.

While sure their Lattes and Frappuccinos are a draw, the real transformation that Starbucks created in the coffee businesses was to give people a place to listen to music, a place to gather and a place to just be.

By transforming the customer relationship they sold a lot more – and more expensive – coffee.

What are some ways you can vision expanding your influence and creating transformational ongoing business relationships that will help you achieve your HUGE BOLD goal?

Centralized vs Empowered Decision Making

As a solo entrepreneur this one might seem like an unnecessary item to discuss. But take a minute to think bigger. A Growth Mind set means setting HUGE BOLD goals. And achieving HUGE BOLD goals may eventually include creating a team.

Consider what parts of your business bring you joy and what you would love to not have to spend time on. Prepare yourself today for the emotional tug of war of handing off a part of your business so it can grow.

As you think about the HUGE BOLD goal you wrote down earlier, think about how you can empower those around you to help you achieve it.

Practice sharing information with trusted business associates, so they are empowered to help you move your goal toward the finish line.

Holding on to information too tight limits the opportunity for others to participate and bring their ideas strengths to help you achieve your goal.

If you don’t have business associates you feel like you can trust thing about your larger community brainstorm where you can grow relationships with other solopreneurs (which will also help expand your influence.)

Write these ideas down so you can refer back to them, and take action, when you are feeling isolated or frustrated.

Risk vs Learning

A traditional goal setter will seek to minimize risk through standardization of processes and tools that limit exposure to failure.

Someone with a Growth Mindset maximizes the opportunity to learn or create new processes. They also provide opportunity to unlearn habits that have held themselves and their business back.

I absolutely loved this part of the workshop. How many times have you seen someone keep doing something a certain way because it has always been done that way EVEN THOUGH there was a better, simpler or more efficient way to do it?

That drives me crazy!

Blockbuster’s demise is a perfect example of this. The company was unable to see that it was necessary to change and adapt to new technology.

What new skills or technology can you learn to propel you toward achieving your BIG HUGE goal? Write those down too.

Conclusion

I started this post with a simple question, what does Mindset mean? After digging into it was the answer what you expected?

The answer was much larger than I expected.

While I wasn’t surprised by the ambitious goal setting necessary for a Growth Mindset the key words transformational, learning and influence were unexpected.

I challenge you to spend a little time brainstorming to come up with a HUGE BOLD goal.

Then create a transformational vision that uses new ways of doing something to expand your businesses influence.

And when you hire your first team member empower them to make decisions that help you achieve that HUGE BOLD goal and transformational vision.

Don’t forget to download your free Growth Mindset Worksheet below.

If you’d like to learn more about Growth Mindset check out the resources at ShiftThinking. These resources inspired the speaker who shared her Growth Mindset knowledge at my local co-workspace.

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The Secret to Fueling Your Business Growth

Trust Your Business Instincts

7 Great Books for Solopreneurs