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  • Writer's pictureSylvia Huang

Cultivating a Growth Mindset and Resiliency as an Entrepreneur



Fortunately or unfortunately, depending on your attitude, entrepreneurship is a marathon of progress over perfection. You’ll stand to enjoy lasting success by cultivating a growth mindset and developing your resiliency.

So what is a growth mindset? Simply put, individuals who believe their talents can be enhanced through strategic effort and support from others have a growth mindset. Those with a fixed mindset, on the other hand, believe that the extent of their abilities is set for life.

When understood and adopted correctly, a ‘growth mindset’ may be one of the best ways to ensure business success.

Here are some ways you can develop a growth mindset for your business.

View failure as feedback on what to improve, rather than a final destination. Setbacks are part and parcel of every entrepreneur’s journey. Instead of seeing it as the end of the world, embrace it as a lesson to do better or differently. For instance, if a new product launch fails to take off, take the occasion to connect with your customers and understand what additions or changes they would prefer.

Focus on strategy, systems, and team, rather than only the results. Winning businesses are built on momentum. When results are only average, focus on bringing your strategy, systems, and team to the next level. When companies embody a growth mindset, their people get more engaged as well to do great work.

Make time to regularly reflect and to learn, rather than keep sprinting ahead. As entrepreneurs, it’s vital to sharpen the saw by prioritising your reflection and learning time. Fridays or Sundays are generally great days to look back at the week that passed and process any learnings. Devote hours each week too to learn new hard or softs skills that can bring your business to the next level.

To succeed continuously in current times, a growth mindset alone wouldn’t be sufficient. As business owners and leaders, you’ll often be pressed by ever-evolving circumstances to be resilient.

And resiliency is like a muscle; it gets stronger when you exercise it often.

Personally, I see the following three factors as keys to upkeep your resiliency muscle.

Rest so you can keep going. Ensure you have built in time for getting the necessary rest you need to be able to continue giving back to your business. Apart from sleep, there are various forms of rest, such as disconnecting from your digital devices, leisure, meditation, and more.

Recharge so you can run at full speed when you want to. Prioritise topping up your tank with inspiration and social connection. If watching motivational videos, completing an intense workout, or dancing to uplifting music energises you, do it. If time with friends helps you forget work, schedule regular catch-up.

Anticipate and prepare for risk and disappointment. Entrepreneurship often requires regular risk-taking. For every risk taken, even if it’s calculated, there’s still a good chance of failure. Being resilient means accepting the nature of the game, preparing for contingency when it fails and seizing opportunities when it succeeds.

At the end of the day, having a growth mindset and being resilient doesn't guarantee big success. It does expand who you are as a business leader and individual and pave the way for a richer entrepreneurial journey. What a reward that makes!

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