Our most recent MEG meet-up centred on a discussion about having a growth mindset.
First, we asked the question, what does having a growth mindset really mean? Is it something that works in a practical sense, or is it just another psychobabble catchphrase?
Growth and Personal Development
A growth mindset is about having an underlying belief in developing your own learning and intelligence over time.
To have a growth mindset is to be open to experience and to developing your own potential.
If you feel you can’t do something, it’s just that you can’t do it yet.
At the same time, you should be realistic about what your areas of expertise are, and work at what fits in with what you’re doing logically.
Lack of Confidence vs Opportunity
The opposite of a growth mindset is a fixed mindset, where people believe they have fixed, unchangeable traits.
In business, it is often expressed in terms of doubling down when times get tough.
With various economic and political uncertainties on the horizon, in the corporate world there is a growing pessimism and evidence of a circling-the-wagons approach taking hold.
Various companies are leaving the UK, downsizing or cutting jobs ahead of Brexit.
But this approach is not necessarily echoed in regional areas and centres of enterprise.
For SMEs, change may bring with it fresh opportunities. To maximise these though, will require an optimistic outlook, and a growth mindset.
Backwards Instead of Forwards
Is a fixed mindset really just that, or in real terms, does it mean you’re moving backwards?
In terms of business development, it may not be possible to remain a fixed entity, if what’s around you is changing, including your competition.
In this sense, a growth mindset may not even be a choice but more of a necessity.
Certainly, for enterprises that are starting out, a growth mindset is essential to help drive their development.
Growth Means Change
The growth mindset requires an appreciation of effort alongside talent. Talent alone won’t see you through.
Also, growth is about change, and this change may be something that is long-term and tactical, and therefore not yield immediate results.
The growth mindset is not simply about working out how to increase your productivity and profits. It is also about being able to see things from a fresh perspective, even taking a step back before moving on.
Change is not always easy, and can be painful. But if the driving force behind change is a growth mindset, then it should ultimately prove its worth.
Quality counts in business, not just quantity.
MEG is Manchester Enterprise Group, where you can experience mutually supportive networking in a pressure-free, friendly environment.