When you tell a business owner they should adopt a growth mindset they often think you’re telling them they should focus on growing the business. The truth is, a growth mindset does often have that impact. But that’s actually not required and the term “growth mindset” doesn’t necessarily have anything to do with growing the business. It’s actually a focus on the individual. The term “growth mindset” is used to refer to a belief individuals don’t have talents set in stone. Meaning they can improve their talents and even gain new ones.
So when we tell you to have a growth mindset we’re telling you to have more faith in yourself and your team. Believing you and your team can improve and do things you can’t currently do.
It’s an invitation to view failures, setbacks, and obstacles as growth and learning opportunities. Not tragedies, weaknesses, or reasons to fire someone.
And it’s an invitation to let your team explore outside their defined work assignments. In fact, we recommend that you give your team the freedom to try things out of their comfort zone, even if they fail. And when they do fail (and they will), don’t punish them for it — instead, use the failure as an opportunity to learn something new about yourself or your business.
On the surface this may seem risky, but the truth is developing a culture that meets a “growth mindset” invites improvement, success, and innovation.
Here are Some Ways to Help Your Team Develop Their Growth Mindset
When you’re trying to teach a team to have a growth mindset, it can be difficult to know where to start. There are many ways you can encourage this way of thinking, but here are some good starting points:
- Make it safe for people to take risks, fail, and learn from their mistakes.
- Encourage employees to take on challenges that stretch them and help them grow.
- Don’t undermine people’s efforts or ideas by saying things like “good try” or “that will never work.” Instead, encourage them to think about how they can change their approach or pivot in order to succeed next time.
- Value effort over ability and use feedback to offer support rather than criticism.
- Recognize that everyone has different strengths and weaknesses, and be careful not to put too much pressure on people who aren’t good at something – especially if you’re not good at it either!
Wasatch CPA – Helping Businesses and Individuals Thrive
Everything we have just listed are key ingredients to better growth, happier culture, and new competitive advantages. And such critical outcomes are highly sought after by the best business owners, and the CFOs that work for them. That’s why we like to help you get there. We offer tax, CFO services and more to help get you moving in the right direction.
If a happier culture that brings better results could help your business, perhaps it’s time we talk. We are located in Utah, but we serve clients across the nation. So don’t hesitate, give us a call today and let’s discuss how we can help!