At the intersection of business model strategy, technology, and business development, The Business Engineer is the only official newsletter of FourWeekMBA.com, the leading blog about business model strategy and business engineering. The blog reaches millions of business people each year.
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The idea of growth and fixed mindsets was first introduced by American psychologist Carol Dweck, a leading expert in human motivation.
Approximately three decades ago, Dweck wanted to know why some children sought out challenges while others avoided failure at all costs. She began studying the traits of each group, describing her work as follows:
“My workbridges developmental psychology, social psychology, and personality psychology, and examines the self-conceptions (or mindset) people use to structure the self and guide their behaviour. My research looks at the origins of these mindsets, their role in motivation and self-regulation, and their impact on achievement and interpersonal processes.”
This work was later synthesized into a 2007 book entitled Mindset: The New Psychology of Success.
In the book, the reader is encouraged to consider how their conscious and unconscious thoughts affect what they want and whether they will succeed in attaining it.
Dweck suggested that altering even the simplest of these thoughts or beliefs could profoundly impact nearly every aspect of life.
One of the most fundamental of these beliefs pertains to how the individual views and inhabits what they consider to be their personality.
A fixed mindset assumes our personality is fixed, while a growth mindset considers personality to be fluid, dynamic, and evolving.
These beliefs are developed very early and have significant implications for personal and professional success.
The main difference between each mindset is the belief in the permanence of intelligence and one’s own ability.
A growth mindset considers these factors to be changeable in either direction.
In other words, there is potential for improvement and regression – with the latter used as a means of improvement through learning from mistakes.
A fixed mindset considers there to be little room for neither improvement or regression.
With that said, here are a few qualities that differentiate the two mindsets.
An individual with a growth mindset:
On the other hand, an individual with a fixed mindset:
As a digital entrepreneur who has built an online media business, I can share my experience.
When I started blogging a few years back, I had a very low tolerance for failure, as I identified with it.
However, over time, as I experimented more and more, I learned to make failure part of the process.
In other words, today, I have a workflow where I need to experiment, execute and iterate very quickly to stay on top of my game.
This has led me to various mistakes and many failures over the years.
While failing is not pleasing at all. Over time, I learned that this is part of the growth process.
And the most interesting part?
Some of the mistakes I've made led me to challenge many of the assumptions I had.
In short, thanks to a fast process of iterations, I often ended up making - what I thought - were mistakes that instead turned into successful - and counter-intuitive - tactics!
That is the most incredible part of the growth process.
As you learn to structure it in a way that you know that failure will happen. As you make many - hopefully minor - mistakes along the way.
A small percentage of these mistakes will turn into incredible and valuable lessons you could have not learned otherwise.
Take, for example, the process of what I like to define as SEO Hacking, which I used years back to grow my blog.
Back in the 2010s, as I finished my studies as a lawyer, I undertook my MBA as I wanted to shift path.
At the time, I mainly had a fixed mindset, I was in my early 20s and would take most of the failure as something personal.
It took me years to reshape my thinking.
And this process started when I was in San Diego, California, working as an analyst in 2013, and I started to learn about neuroplasticity.
At the time, I learned that our brain, based on the context and how much we're motivated to accomplish something, can be re-wired.
Thus, I managed to build a growth mindset that, these days, helps me build processes in whatever business endeavors I get into.
Today I understand that to grow, you need to build playbooks, workflows, and processes and keep developing your way and style of doing things.
For that, look at my idea generation guide.
To recap!
Ciao!
With ♥️ Gennaro, FourWeekMBA
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The Only Official Newsletter of FourWeekMBA - By Gennaro Cuofano
At the intersection of business model strategy, technology, and business development, The Business Engineer is the only official newsletter of FourWeekMBA.com, the leading blog about business model strategy and business engineering. The blog reaches millions of business people each year.