business owners - There is no such thing as failure

small business

Jun 19

There is no such thing as failure. As a business owner, it is vital to have resilience and a growth mindset. With these two secret weapons, you can continually move forward, even when mistakes happen.

Learn from your mistakes, and there is no such thing as failure. If you wallow in mistakes and learn nothing, it turns into Einstein’s definition of madness: Doing the same thing over and over again, expecting different results.

What is a growth mindset?

Carol Dweck, the author of ‘Mindset: The New Psychology of Success, sums it up perfectly: A tendency to believe that you can grow... A ‘fixed mindset’; assumes that our character, intelligence, and creative ability are static givens which we can’t change in any meaningful way. A growth mindset thrives on challenge and sees failure not as evidence of unintelligence but as a heartening springboard for growth and for stretching our existing abilities.

Business owners can often mistake their drive to prove themselves; as a growth mindset.

However, a drive to prove yourself is actually the ultimate fixed mindset. Striving to prove others wrong or demonstrate capabilities we know we have is just stubborn fixed thinking.

Often, that fixed mindset manifests as black or white thinking: Will I fail or succeed? Win or lose? Will I look smart or dumb? Will I be powerful or weak?

The ultimate growth mindset comes in proving to ourselves that we can be better, do more, and learn more. Striving to grow and prove to ourselves (not others) that we can and taking every mistake as an opportunity to learn. The drive you have as a business owner is fundamental to success, but the challenge is to make sure that drive comes out as grit rather than stubbornness.

How to develop your own growth mindset

Here are three simple steps to help you develop your own growth mindset:

Step 1: Take ownership of yourself, know yourself, and be honest about your imperfections. Then embrace them! Hiding from your weaknesses will never make them disappear but tackling them head-on and constantly trying to improve those areas will make you continually grow and develop.

Step 2: Stop failing. See nothing as a failure, and everything as a lesson, and you will completely change your outlook. The only failure is a missed lesson. Banish the word failure from your vocabulary and start reframing mistakes and missed opportunities as lessons to learn from and opportunities to be even better next time.

Step 3: Realize that you will never know everything and that everybody has something to offer that you could learn. When you listen, listen to understand and gain perspective, not just to respond. Ask questions and listen more to others to gain new knowledge and perspective, even if it differs from yours. Don’t be afraid to recognize and challenge your own thinking or opinions based on new information. These are simple steps and often just sense checks to recognize your mindset and keep it in the growth space.

Growth mindset within a team

Now, let’s explore how you can develop a growth mindset in your team: Growth mindset - get your team on board! So, you can have an awesome growth mindset, but your team is a different matter? It is actually more frustrating when you are working on your mindset and developing a growth mindset, and you are then faced with someone who is not.

Here are three things you can do to foster a growth mindset in your team:

Step 1: Promote problem-solving through failure. It goes back to ‘there is no such thing as failure’ If something goes wrong at work, great! Walk through it with the team, learn from it, problem-solve. Discuss what should have happened, what could have been done differently, and what will be done next time.

Step 2: Encourage openness with setbacks, starting with yourself. Show that you too make mistakes. Talk through how you have learned and developed from them. Be honest about the challenges you have faced and the techniques and lessons that helped. Encourage others to do the same and foster an environment where you learn from each other.

Step 3: Challenge. Invite and challenge your team outside of their comfort zone. Help them push through boundaries to work on challenges that truly challenge them. Take the pressure off. There is no failure. Embrace a ‘do your best’ mentality. Let people make mistakes and push their comfort zones to learn and develop themselves. In the end, it all comes back to helping people challenge themselves by removing the fear of failure.

How we can help you

Ready to take your business to the next level with a growth mindset? Book a free coaching session today and discover how to unlock your full potential.

During this personalised coaching session, we can dive deeper into your specific business goals and challenges. Together, we will explore strategies to cultivate a growth mindset, overcome setbacks, and seize opportunities for growth. Whether you’re a seasoned entrepreneur or just starting out, this coaching session will provide valuable insights and actionable steps to propel your business forward.

Don’t miss out on this exclusive opportunity to receive guidance from our award-winning experienced business coaches who understand the power of a growth mindset. Take the first step towards achieving your business dreams by booking your free coaching session now.

Click the link to schedule your free coaching session today. Let’s embark on this transformative journey together and unlock the boundless potential that awaits you.