How to Embrace a Growth Mindset

Millions of people dream of quitting their jobs and going into business for themselves. You get to call all the shots, set your schedule, and choose who to work with. Unfortunately, being your own boss comes with hurdles that may shatter this fantasy.  Calling the shots gives you control over your life but comes with its own set of challenges.  One of the biggest obstacles is shifting your mindset to an entrepreneur mindset.  We will highlight the differences between a fixed (employee) vs growth (entrepreneur) mindset in this blog.  We’ll show you why it is critical for you to adopt a Growth mindset for you to succeed.

After years of working for others, you may struggle to assume the role of the employer. You’ll need to drop some of your old habits and develop an entrepreneurial state of mind. To help with this transition, below are tips to help you make the mindset shift from employee to employer.

When you enter the workforce, you quickly learn to conform to a system managed by others. Even in a field that encourages thinking outside of the box, there are limits to your freedom.  The limitations of a traditional 9-to-5 job slowly force you into the company mold. You become one of many employees that work together toward common goals instead of a unique individual.

The typical employee mindset keeps you from taking risks or genuinely thinking for yourself, which are essential parts of becoming an entrepreneur.

Here are steps that you can take today to start shifting to the entrepreneur mindset:

Fixed Mindset is limiting

Individuals with a fixed mindset believe that they are born with certain talents and a level of intelligence that does not change. They focus on their natural talents but do not go beyond what comes naturally to them and requires more effort. 

When they experience setbacks or make mistakes, they tend to see it as a failure. Consequently, they avoid challenges and avoid trying new things. 

Fixed mindset traits

• Talents, abilities, and intelligence is fixed, it’s who we are
• Run from error, do not engage with it with a desire to look smart
• Avoid challenges
• Give up easily 
• Feel threatened by the success of others
• Ignore negative feedback even though it may be highly relevant and useful
• Avoid new experiences with fear of failure
• Look for people who can reinforce their self esteem 
• Focus on the outcome since they consider results as their identity
• Can lead to cheating and deception

A Growth Mindset is freedom

Individuals with a growth mindset can accept constructive feedback as an opportunity to grow rather than seeing it as a personal attack. They realize that they can improve their intelligence rather than seeing it as something they cannot change.

Growth mindset traits

• Talents, abilities, and intelligence can be developed through effort and practice
• Engage deeply and process the error with a desire to correct the error
• Embrace challenges
• Persevere in the face of failures and setbacks 
• Find inspiration in others success
• Accept criticism as a way to learn 
• Embrace novelty with a desire to master new skills 
• Look for people who challenge them to grow
• Focus on the process and learning without worrying about the outcome
• Leads to collaboration and innovation  

Once you open your mind to change and adopt an Entrepreneur mindset here a few tips to help you stay in the Entrepreneur mindset.

Learn to Keep Yourself Motivated

Employees are given schedules and deadlines. Employers set them.

When you transition to your new role as a business owner, procrastination isn’t an option. You need to set deadlines and stick to them or ensure that your employees stick to them.

You’ll no longer have a supervisor to keep you on track. Business owners need to keep themselves motivated.

Without a set schedule, you have the freedom to do what you want with your time. This is a blessing and a curse. It’s easy to allow the day to get away from you without accomplishing anything.

To stay motivated and focused, maintain a set schedule. While you may not need to check in with a supervisor or punch a clock, you should still start your day at a set time. Sticking to a schedule trains your brain to avoid deviating from the routine. You’ll become less likely to procrastinate and waste your day.

Start Opening Your Mind to New Possibilities

 The first habit to break is limiting the scope of your ambitions. As an employee, you’re trained to follow a specific path. You work your way up the corporate ladder without stopping to explore other options.

As an employer, you need to keep your options open. You need to start opening your mind to the endless possibilities in front of you. Basically, you need to start thinking outside of the box.

You’re no longer confined to the limitations of your employer. You have the freedom to realize your vision, no matter how unconventional your idea may be. Some of the most successful entrepreneurs are innovators. The ones that create something new and original are more likely to thrive.

Peter Drucker, the father of modern business management, said, “If you want something new, you have to stop doing something old.”

To think like an entrepreneur, prepare yourself to expand your comfort zone.

Let Go of the Need for Security and Comfort 

If you crave job security, becoming a business owner will create a lot of stress in your life. In your 9-to-5 job, you probably don’t worry too much about the stability of your job, pay, and benefits. Employers don’t have the same luxury.

The biggest risk with entrepreneurial projects is the complete failure of your business. If your business fails, you’re out of a job with no pay or benefits.

You need to embrace being uncomfortable and overcome your fear of failure. Use the fear that this creates to drive you to success. Fear is often a warning sign that you’re taking a big risk. When you become afraid of an outcome, you can use that fear as motivation to review all your options and analyze your approach.

If you’re not afraid of failing, something isn’t right. It means that you’re settling for whatever happens, which breeds complacency.

Never Stop Learning

 When you stop learning, you stop moving forward. If your business stops moving forward, it fails.  Part of becoming a successful business owner involves relying on others.  Learn from those that work for you, as they likely have the skills and knowledge that you lack. That’s probably why you hired them. Along with learning from others, you can learn from your own research. Take the time to read books, learn new skills, and grow as an individual.

You should always ask yourself, “what’s next?” Pay attention to the competition and the newest technologies available for your industry.  As part of your education, it’s also a good idea to evaluate your strengths and weaknesses. Decide what you’re best at and develop those skills. Improve your strengths while fostering a diverse team to address your weaknesses.  For example, you don’t need to be a marketing expert to run a successful business but hiring one can help you reach a wider audience.

Final Thoughts

If you leave this piece with only one takeaway, I hope that it is a belief in yourself and your abilities to grow, to develop, and to thrive beyond what you currently perceive as your limits.

Having a growth mindset isn’t an “easy button” solution to any problem, and it will not automatically cause good things to happen to you; however, it will make it easier and more enjoyable to work hard toward your goals and give you the confidence you need to set ever more ambitious goals.

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