4 Surefire Ways To Build A Growth Mindset

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In her book, “Mindset,” psychologist and author Carol Dweck describes the “fixed mindset” individual as someone who believes in either possessing or lacking sheer talent to overcome their life experiences.

In other words, this person believes that they either “have it” or they don’t.

Moreover, they don’t believe in a solution to their problems, Dweck argues, because it isn’t in their nature to do so.

As a result, the fixed mindset individual views effort as a fruitless endeavor.

They don’t even make an effort to view effort for what it really is. Which is brownie points for trying!

By contrast, the “growth mindset” individual, according to Dweck, believes in a solution to any problem.

Not only that, but they view failure as an opportunity to learn and grow from their experiences, whether that failure is a direct result of their actions or someone else’s.

Thus, your individual belief system — the set of values and principles that govern your decisions and behaviors — could very well be the obstacle in the way of your success.

Luckily, you can build a growth mindset over time and overcome challenging life experiences. And we’re here to walk you through it!

To illustrate our point, we’ll use one of our readers as an example.

Below is her journey in the exhilarating world of passive real estate investing and how she succeeded by building a growth mindset.

#1. CREATE A GAMEPLAN

writing down goals in journal

No investment decision is complete without a solid game plan.

When our reader (let’s call her Anna) formulated hers, she played a little game of Ask-and-Answer.

Do I want to diversify my portfolio? Anna asked herself.

Am I interested in commercial assets, residential assets, or both?

If both, what sort of capital am I willing to divide among the different investment funnels to maximize my gains?

Then, to refine her investment goals, Anna came up with some S.M.A.R.T. objectives. That’s to say, these objectives were Specific, Measurable, Attainable, Relevant and Time-bound.

A key SMART goal was to monitor her initial investments over six months and check that it was yielding a return rate of 8% or more.

If the rate of return was below this percentage point, she’d revisit her investment strategy and tweak her goals accordingly.

Someone with a fixed mindset would have probably accepted a lower return rate, but not Anna. She wanted her investments to kick some major return-rate ass.

And they did!

(If you need help coming up with your own S.M.A.R.T. strategy, check out this blog post and free template from Hubspot!)

#2. ACCEPT SETBACKS

depositphotos man shrugging

The savvy investor focuses on maximizing returns while minimizing risk.

Notice that the modifier for the word “risk” is minimizing and not eliminating. 

The implied perspective here is that there will always be a risk factor to any investment opportunity, just as there’s a risk to driving an uninsured vehicle on a busy freeway.

So, to overcome this defeatist mentality, Anna told herself that she would anticipate loss. 

Actually, she would accept a barrage of setbacks because they were inevitable.

Anna figured rather than dwell on her losses, she’d learn from them.

And there was no way of doing this without a growth mindset to guide her.

#3. VISUALIZE SUCCESS

woman holding up binoculars

Another way that Anna dodged the traps of a fixed mindset was to visualize success.

This is something that the growth mindset individual has become incredibly good at.

In Anna’s case, she imagined what her life would look like once her investments began to yield healthy returns. 

Perhaps those robust ROIs would be enough to cut the strings that tethered her to a daily 9 to 5 job? She wondered.

She also pictured spending the majority of her time raising a family, traveling the world, and writing the next great American novel!

By visualizing these attainable goals, the potential for amazing rewards far outweighed the potential for failure.

#4. SWITCH TO THE RIGHT MINDSET

pencil drawing brain with stick figures

Focusing on what galvanized her to become an investor in the first place — to reclaim more of her time to do the things that she had always dreamed of doing — Anna was able to build a flexible, growth mindset.

But don’t get her wrong: kicking her fixed mindset to the curb didn’t happen overnight, nor was it as easy as flipping a switch in her brain.

It took steadfast practice for Anna to build a growth mindset over time.

She constantly had to question the validity of her thoughts:

Was she making a decision based purely on emotion? Were the reasons behind her decisions born out of fear? What lessons could she learn from this or that failure?

Once Anna was able to visualize a path to success by applying a growth mindset, she realized that her problems were solvable.

To build a growth mindset of your own, you’ll need to silence your “inner saboteur” — that voice in your head that tells you “you’re not good enough”; the one that humbles you when you shoot for greatness.

It’s the voice that instills fear and hopelessness within you, which can lead to poor mental health. And improving your mental health is our top priority, dear reader.

We know you got this.

Now go! (And grow, dear friend. Grow.)

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