What is your current mindset? Fixed mindset or growth mindset?
When medical school didn’t happen for Kiran Mazumdar- Shaw, she didn’t stop. She took up biology. And when she wasn’t accepted as a brewmaster, she set up Biocon. Kiran Mazumdar- Shaw, MD of Biocon Ltd, is an example of how a growth mindset leads to success.
People with a fixed mindset believe that they are born with certain abilities or skills that cannot be improved over time or ‘Why try when nothing is going to change?’ They are okay to play by this mindset, even if it means losing out on opportunities.
People with a growth mindset are ready to get out of that boxed (and damaging) thinking. They are willing to try, fail, make mistakes, and experiment until they get the desired result.
Both mindsets are the result of your life experiences and learnings. But developing a growth mindset will give you the freedom to achieve your full potential and use it to build a network that helps you find unlimited opportunities.
#1 A growth mindset helps accept rejection - to move forward
Back when Stephen King was looking to publish his first book, Carrie, he faced multiple rejections from publishers.
But this did not stop him. Acceptance knocked on his door when he finally submitted his story for the 31st time. Stephen King did not stop pitching even after so many failed attempts.
A person with a fixed mindset would have given up right after the first few rejections. But King accepted his failures and fearlessly networked with the right people until he found the ones who were willing to give him a chance.
#2 A growth mindset is open to constructive criticism - to improve
When McDonald’s stepped foot in India, it was told it wasn’t Indian enough for customers. The executives at McDonald’s welcomed this criticism and worked on understanding the market and improving their menu. Today, McDonald’s has made its mark (and profits) in India.
A growth mindset will urge you to keep working on yourself and use criticism to overcome your shortcomings. This approach will attract the people around you and give you the opportunity to build new connections.
#3 A growth mindset embraces challenges - to rise
C.S. Lewis once said, “Hardships often prepare ordinary people for an extraordinary destiny."
There was a time when a storm struck the Indian telecom market. Many players went bankrupt. Gopal Vittal of Bharti Airtel and his team made sure he embraced this challenge to stay afloat. They were willing to do all it took. And today, Bharti Airtel’s share prices are at a high.
When it comes to networking, people with a fixed mindset wonder what if they make a fool of themselves or what if they fail. For them, it's easier to give up or become defensive in the face of a challenge.
No one can survive by ‘giving up’ because challenges are bound to come – at work and home. Show us one person who has never had any challenge in his/her life. You won’t find one.
#4 A growth mindset sees relationships – beyond profits
Many people approach business relationships as strong profits first instead of strong relationships first.
The work culture at Sundaram Finance is applauded because TT Srinivasaraghavan, former MD, always maintained ‘Sundaram is first a family and second, a company.’ Many mergers and bailouts have happened due to strong, friendly relationships.
Genuinely help peers and associates as if they're your own. And when an opportunity arises, the opposite person will definitely reciprocate.
#5 A growth mindset pushes one – to keep up
Learning new skills and incorporating new systems takes time and effort. No doubt. But, upskilling is key in today's fast-paced era. It’s easy to get left behind if you get too comfortable.
During the initial phase of his career, Ratan Tata spent 8 years in training programs. Later on, these 8 years acted as an investment. He is a great advocate of continuous learning.
People who constantly work on their communication, listening, and pitching skills stay ahead of the curve. They grow and inspire others to do the same, thereby building a network of successful professionals.
When I see so many business and corporate leaders, CEOS, founders, creators, and high achievers willing to learn and grow, it simply amazes me. And it is not surprising to see them grow multifold.
With a growth mindset, you will attain a competitive edge. It will act as a stimulus to build a professional network that will help you learn and grow. So, take the first step now and start developing a growth mindset.