The Entrepreneur's Guide For Shifting To A Growth Mindset🌀

Sherry —The Biz Starter Author

Posted On Mar 04, 2023 |

It’s easy to see how entrepreneurs can get overwhelmed or feel like there are just not enough hours in the day. 

Sometimes it feels like your competitors or peers have it all figured out and make everything look so easy—ugh, frustrating, right?

As a veteran entrepreneur, I know one thing sets successful entrepreneurs apart from those who struggle—their mindset.

Did you know that a growth mindset makes a huge difference in your ability, as an entrepreneur, to overcome challenges, adapt to change, and continue to grow and learn over time?

Successful entrepreneurs have found a way to be successful, control their emotions, be flexible, and alter how they see the world because they have mastered the entrepreneur mindset.

With practice and openness, you, too, can master the skills and techniques to control your outlook and achieve an entrepreneurial growth mindset. In this blog post, I'll dive deep and share the entrepreneur's guide to shifting to a growth mindset.

What is a growth mindset?

Before I get to the skills you need to achieve a growth mindset, let’s look at what this term really means. A growth mindset believes your abilities and intelligence can be developed through hard work, learning, and persistence. This is different from a fixed mindset, which is the belief that your skills and intelligence are set in stone and cannot be changed.

People with a growth mindset find it easier to deal with challenges, face setbacks, and see failure as an opportunity to learn and grow.

Don’t worry; you can change your mindset when you learn growth mindset skills to be a successful entrepreneur.

How can entrepreneurs shift their mindset?

A growth mindset is critical to your ability to succeed and to have longevity. Here’s a guide on how to cultivate a growth mindset as an entrepreneur:

1. View Challenges as Opportunities

Easier said than done, but changing your perspective on challenges allows you to step back and refocus on solutions. Starting a business is hard. There's no way around it. Entrepreneurs face challenges, including finances, creating ideas, product/service building, and marketing their offers. Along the way, you'll encounter setbacks, failures, and obstacles that can be discouraging and demotivating.

A growth mindset can help you approach these challenges with curiosity and resilience. Rather than getting bogged down by their difficulties, entrepreneurs with a growth mindset are more likely to see these challenges as opportunities for growth and learning.

Rather than avoiding difficult tasks or shying away from obstacles, embrace them as opportunities for growth and learning. When you encounter a challenge, ask yourself what you can learn from it and how to use that knowledge to improve.

2. Be an Adaptable Entrepreneur

The business world is constantly changing, and as an entrepreneur, you want to be able to adapt to those changes to stay competitive. This might mean pivoting your business model, expanding into new markets, or adopting new technologies and strategies.

A growth mindset can help you stay flexible and open to new ideas and approaches. Be more proactive in adapting to changes in your industry and niche. You can start by viewing change as an opportunity rather than a threat.

3. Prioritize Learning New Skills

Successful entrepreneurs never stop learning. Never. Whether staying current on industry trends, seeking new skills and knowledge or learning from mistakes, entrepreneurs prioritizing learning are more likely to succeed in the long run.

A growth mindset is essential for this kind of ongoing learning and growth. By believing you can continuously improve and develop new skills, you are more likely to seek new learning opportunities and self-improvement opportunities.

Stay curious and keep learning to stay ahead of the curve. You can do this by attending conferences, reading industry publications, and seeking new experiences. By staying curious and open-minded, you can develop new ideas and approaches and continue growing. See the signs you need help with your entrepreneurial skills.

4. Trust the Process

While having goals and aspirations for your business is important, it's equally important to focus on the steps you need to take. As entrepreneurs, we usually have a specific goal or outcome in mind when creating a product, service, content, etc. For example, saying, “I want a $5k launch or sell ten coaching packages" as a goal. Try focusing on the process of achieving the goal. Doing this lets, you learn from mistakes and make adjustments along the way. This can lead to better outcomes in the long run.

5. Surround Yourself with Positive Role Models

You can tell a lot about a person by the people they keep company with, right? If you surround yourself with negative thinkers who complain, you will find it difficult to grow past this limiting thinking. The people we surround ourselves with can significantly impact our mindset. Entrepreneurs can benefit from surrounding themselves with positive role models with a growth mindset. These individuals can offer guidance, support, and inspiration to help you develop a positive outlook on challenges and setbacks.

6. Feedback is Your Friend

Would you rather hear feedback than continue to walk down the wrong path, wasting time and energy? Entrepreneurs often receive feedback from customers, investors, and mentors. Some feedback may be negative, which is hard to hear. Constructive feedback can be a valuable tool for growth and development. You can learn from your mistakes and improve if you are open to feedback. You can also use feedback to identify your strengths and weaknesses to develop strategies for improvement.

7. Celebrate Small Wins

Most entrepreneurs struggle to celebrate small wins because they focus on the difficulties. Entrepreneurship can be a challenging journey, and it’s important to celebrate small wins along the way. This can help you stay motivated and focused on your goals. Whether it’s a new subscriber, a chance to talk to a new potential client, or simply finishing your to-do list, focusing on the positive helps create a growth mindset you’ll need to get to longevity in your business. Take steps to overcome imposter syndrome and celebrate small wins to develop a positive outlook and build confidence in your abilities.

8. Use The Power of “Yet”

The word “yet” is a powerful word for entrepreneurs. It’s a reminder that you have not yet achieved your goals but are on the path to doing so. This is a growth mindset—it’s not ready yet, but it will be. Entrepreneurs with a growth mindset understand that success is a journey, not a destination, and they embrace the process, the experience, learning, and growing. To cultivate a growth mindset, use the power of "yet" to shift your focus from what you have not achieved to what you are working towards. Remind yourself that maybe you have not yet reached your full potential but are actively working towards it.

9. Forgive Yourself For Mistakes

No one is harder on you than yourself. One of the areas most of us need to work on is how we view mistakes and failures. Do you give yourself a hard time when something goes wrong?

One thing that sets successful entrepreneurs apart from the rest is how they view setbacks. Every failure is a valuable learning experience, so you can take notes to ensure mistakes won’t be repeated. Start reconstructing your mind to think this way as well.

When you make a mistake, be kind to yourself. Try to fix it and then let it go. Look for the lesson in the mistake. Note what went wrong and what you could have done differently—this increases your chances of success in the future.

10. Think Abundance, Not Scarcity

If you feel like you’re working hard but not getting what you deserve, you could be operating from a place of scarcity rather than an abundance mindset. A scarcity mindset might be holding you back. If you learn to focus on yourself and the goals you’re working towards, you’ll realize there’s enough to go around for everybody.

Focus on the things you’re grateful for and remind yourself of these things regularly—this will help you get past the negativity. Become self-aware and identify the negative mindsets holding you back so you can let them go and embrace change. Make room for success by eliminating negative mindsets!

This blog post explored ten ways entrepreneurs can build a growth mindset. First, you need to embrace challenges and view them as opportunities for growth. Adopt a learning mindset and seek new knowledge and skills. Be open to feedback and use criticism to identify areas for improvement. 

The power of "yet" should be emphasized, reminding you that success is a journey, not a destination. Surround yourself with like-minded individuals, and celebrate progress and small wins to develop a growth mindset. 

Forgive yourself and take calculated risks to nurture your growth mindset. Finally, stay persistent and face challenges and setbacks with an open mind and willingness to improve.

Categories: Biz Growth, Entrepreneur Tips, Mindset