As humans, we generally view failure in one of two ways. Either, as a hopeless unbeatable obstacle, or as an opportunity to learn and try again. The kind of mindset you have can make all the difference to the way you deal with everyday challenges, but from a business perspective this can be the difference between making it… or breaking it!

“Whether you think they can or can’t, you are right” – Carol Dweck

Renowned motivational psychologist Carol Dweck divides people into two main mindset categories: a growth mindset and a fixed mindset. Those with a growth mindset believe that intelligence is not fixed or predetermined. They believe skills and abilities can be acquired through dedication and hard work. The other group — with a fixed mindset – believe their abilities and skills are individual traits that cannot be changed.

If having a specific mindset impacts how someone deals with day-to-day situations and can influence their success, can an organisation also have a growth or fixed mindset?

The short answer is yes.

When a business and its leaders lead with a growth mindset, they embrace failures, seek challenges, and cultivate a growth mindset culture. Ultimately, this helps them to stay on track and achieve their goals.

Promote a growth mindset for your business

In Australia, it’s estimated that more than 60% of small businesses will fail within the first three years of operation. This is a daunting figure to get your head around! That’s why having a positive growth mindset, and encouraging one within your organisation, is crucial if you don’t want to be just another statistic.

We’ve put together some tips on how you can develop a growth mindset for your business, starting today!

Delegate tasks effectively

You can’t accomplish everything on your own, and that is why you have employees to assist you. Sure, you may be able to accomplish a task without help, but it will take you longer and is also probably not the best use of your time. Many hands really do make light work and this is why delegation should be the foundation to your operation.

Hire people who have skills and abilities that can be nurtured, so you can free up your own valuable time to focus on the business’s key growth aspects. Just know who can handle what effectively and assign the tasks. That way, you will not only challenge your work