How You Can Develop a Growth Mindset as an Entrepreneur


A recent study conducted by Stanford University found that individuals with a fixed mindset are less likely to take risks, while those with a growth mindset are more apt to embrace challenges. As an entrepreneur, it is essential that you develop a growth mindset in order to achieve success. Here are some tips provided by Dr Erik Goluboff on how you can do just that.

1. Recognize That Your Intelligence Is Not Fixed

One of the first steps to developing a growth mindset is recognizing that your intelligence is not fixed. This may seem like common sense, but it is crucial that you really internalize this concept. Just because you didn’t do well in math class as a child does not mean that you are doomed to always be bad at math. With hard work and dedication, you can improve your math skills just as you can improve any other skill set.

2. Embrace Challenges

When you have a growth mindset, you see challenges as opportunities to learn and grow rather than as roadblocks to avoid. It is important to note that this doesn’t mean that you should seek out difficult situations for the sake of it; rather, you should approach every challenge—regardless of how big or small—with the understanding that it presents an opportunity for personal growth.

3. Be Willing to Put in the Hard Work

Achieving success takes time and effort; there are no shortcuts. If you want to see results, you have to be willing to put in the hard work required to get there. This means putting in long hours, making sacrifices, and continuously pushing yourself outside of your comfort zone.

4. Be Open to Feedback

In order to grow, it is essential that you be open to feedback—even if it is constructive criticism. When someone offers suggestions on how you can improve, resist the urge to immediately become defensive; instead, listen closely and try to understand where the other person is coming from. Oftentimes, we learn the most from our mistakes; by being open to feedback, we can view mistakes as opportunities for growth instead of failures.

5. Surround Yourself with like-minded individuals

The people we surround ourselves with have a strong influence on our mindset and actions. Surrounding yourself with individuals who also have a growth mindset can reinforce positive thinking and attitudes, and can provide support during challenging times. Additionally, being surrounded by successful individuals can inspire you to reach new heights in your own endeavors.

6. Don’t Let Setbacks Discourage You

No one achieves success without experiencing failures or setbacks along the way. It is important to remember that these obstacles are part of the growth process, and should not be viewed as permanent roadblocks. Instead of dwelling on past failures, focus on what you can learn from them and how they can help you improve in the future.


Developing a growth mindset is essential for entrepreneurs who want to achieve success. A fixed mindset will hold you back from taking risks and embracing challenges, two things that are essential for achieving success as an entrepreneur. By following the tips detailed above—recognizing that your intelligence is not fixed, embracing challenges, being willing to put in hard work, and being open to feedback—you can develop a growth mindset and set yourself up for success.

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