How To Go From A Fixed Mindset To A Growth Mindset

Hey,

Mindset is a fascinating thing isn’t it? Why do some people crumble at the first sign adversity and others keep pushing through until they get to the other side? Why will some people not even attempt to try something new and others jump in with gusto?

The difference is those that succeed have a growth mindset and those that tend to give up, or won’t try have a fixed mindset. This is something I have been learning from Carol Dweck’s work in her book Mindset.

People who have a fixed mindset believe that when they approach a task even for the first time they must execute that task perfectly, there is no room for mistakes because in their fixed state of mind you either have it or you don’t. This is very much the case for a lot of society who believe that talent is God-Given. You either have the gift, or you don’t. They do not believe that people with talent ever put a foot wrong.

This got me thinking, “How often do we think Entrepreneurs have a God-Given talent for business?” That somehow they were born with the Midas touch and their bank accounts magically fill up with money.

When I looked more closely at this, I realized that this is simply not true. Many entrepreneurs failed over and over again before they made it in the marketplace, same with athletes practiced for hours and hours at their sport and even after great success they still practice for hours and hours on end.

The difference is these people have a growth mindset. They believe they can get better if they learn, learn and learn. That hard work is the key to becoming good at something, and they face the setbacks.

A person with a growth mindset understands that they will not get a new task or skill they are learning right away, they know it will take time to accomplish and build a skill set. This is the mindset I want you to have as you establish a skill set around money. Just like learning to walk, you won’t get it straight away, and at times you’ll fall down on your backside, but you get back up, and you keep moving forward until the new skill is established and it becomes second nature.

You can help create your growth mindset by changing how you address learning a new task or skill by

• Adding the word YET to your sentences “I have not got the task (insert new thing you’re trying to learn) YET, but I will get there.”
• Giving yourself a break: It’s okay to make mistakes
• Giving yourself time to learn the new task: It takes time to establish any new skill give yourself the gift of patience and space to learn.

As you can see developing a growth mindset can assist you with achieving your goals and improving your mental attitude towards learning a new skill. A growth mindset can reduce the feeling of over whelm and take the need to be perfect at something right away. A growth mindset gives you room to grow, to move and to expand more at your pace instead of trying to learn at a speed of which you may not be able to keep up. A Growth Mindset will allow you to make mistakes and not crumble from the setback and give up.

It is essential to your success in building your wealth that you develop a growth mindset. Especially when you first start learning a particular area of wealth such as shares or property. Give yourself some grace and room to learn and don’t expect to be an expert overnight, and it’s okay to make mistakes.

Love,

IAW Team