Changing the way you think to fulfil your potential

Carol S. Dweck

In "Mindset: The New Psychology of Success," world-renowned Stanford University psychologist Carol S. Dweck, Ph.D., provides invaluable insights that every entrepreneur should live by. Dweck explains the concept of "mindset" and how our beliefs about ourselves can profoundly affect the way we navigate our entrepreneurial journey.

Entrepreneurs are often thrust into uncertainty and challenges. The book underscores the importance of maintaining a growth mindset—the belief that talents and abilities can be developed through hard work, effective strategies, and input from others—as opposed to a fixed mindset—the idea that we are born with a certain amount of talent or intelligence that can't be changed. For entrepreneurs, this distinction is vital. A fixed mindset can lead to a desire for constant approval, a tendency to avoid challenges, and a fear of failure, all of which can be detrimental in the fast-paced, risk-embracing world of entrepreneurship.

Dweck doesn't just theorize these concepts; she explains them in the context of real-world scenarios and provides practical advice on how entrepreneurs can cultivate a growth mindset. By embracing a growth mindset, entrepreneurs are more likely to take calculated risks, pivot when necessary, and, most importantly, persevere in the face of the setbacks and failures that are inherent in bringing a visionary idea to fruition.

Moreover, "Mindset" extends beyond the individual, affecting the culture of startups and business teams. Leaders with a growth mindset are likely to encourage creativity, promote innovation, and effectively nurture talent, creating teams that believe in the possibility of growth and improvement.

"Mindset: The New Psychology of Success" isn't just a book about how to achieve success in the traditional sense. It's a guide to cultivating the kind of outlook and resilience that can withstand the entrepreneurial journey's highs and lows. It teaches entrepreneurs about the importance of continuous learning, embracing challenges, and seeing efforts as pathways to mastery. It's about setting the groundwork for businesses that thrive, innovate, and adapt, regardless of the challenges they encounter.

For anyone at the helm of a startup or on the entrepreneurial path, Dweck's research is a reminder that your mindset is not a minor detail—it is the foundation upon which all of your entrepreneurial efforts are built.

Quotes

“He didn’t ask for mistake-free games. He didn’t demand that his players never lose. He asked for full preparation and full effort from them. “Did I win? Did I lose? Those are the wrong questions. The correct question is: Did I make my best effort?” If so, he says, “You may be outscored but you will never lose.”

“We like to think of our champions and idols as superheroes who were born different from us. We don’t like to think of them as relatively ordinary people who made themselves extraordinary.”

"What your ability is, effort is what ignites that ability and turns it into accomplishment.”

“Why waste time proving over and over how great you are, when you could be getting better? Why hide deficiencies instead of overcoming them? Why look for friends or partners who will just shore up your self-esteem instead of ones who will also challenge you to grow? And why seek out the tried and true, instead of experiences that will stretch you? The passion for stretching yourself and sticking to it, even (or especially) when it’s not going well, is the hallmark of the growth mindset. This is the mindset that allows people to thrive during some of the most challenging times in their lives.”

“So what should we say when children complete a task—say, maths problems—quickly and perfectly? Should we deny them the praise they have earned? Yes. When this happens, I say, “Whoops. I guess that was too easy. I apologise for wasting your time. Let’s do something you can really learn from!”

“Picture your brain forming new connections as you meet the challenge and learn. Keep on going.”

“I don’t mind losing as long as I see improvement or I feel I’ve done as well as I possibly could.”

“If parents want to give their children a gift, the best thing they can do is to teach their children to love challenges, be intrigued by mistakes, enjoy effort, and keep on learning. That way, their children don’t have to be slaves of praise. They will have a lifelong way to build and repair their own confidence.”

“This is something I know for a fact: You have to work hardest for the things you love most.”

References

“Through clever research studies and engaging writing, Dweck illuminates how our beliefs about our capabilities exert tremendous influence on how we learn and which paths we take in life.”

BILL GATES