Building an entrepreneurial growth mindset is about a lot more than just adopting a positive attitude – it’s how we perceive the world around us. By adopting a success mindset, we can set ourselves up for success, no matter the obstacle.
Small businesses make up 98% of businesses across South Africa and contribute 39% towards the country’s GDP. These same businesses employ between 50 and 60 percent of the country’s workforce and are responsible for a quarter of job growth in the private sector.
What is not candidly spoken about is the importance of an entrepreneurial growth mindset, and how this contributes to success. It’s often believed that the framework for creating a successful business lies in a good business model. And while a solid, well-thought-through business plan is definitely a starting point, the entrepreneur’s mindset is just as crucial.
Essentially, a growth mindset is an unfailing belief in the success of your business regardless of the obstacles. It entails looking at any failures as an opportunity to improve and necessitates resilience in the face of difficulty. Most importantly, it involves embracing curiosity and continuous life-long learning and applying new ideas, innovations and skills in your business.
Building an entrepreneurial growth mindset is about a lot more than just adopting a positive attitude. Attitude is how we consciously interact with the world, whereas mindset is how we perceive the world around us. It is driven by our subconscious and is responsible for most of our thinking and actions.
There’s a popular saying, “energy flows where attention goes”. Self-limiting thoughts and behaviours can negatively impact opportunities or situations, resulting in decreased motivation, increased anxiety and stress. It’s confronting taking ownership by changing your thoughts or behaviours to positively shift consequences, overcome setbacks, and make the most out of opportunities. The key lies in awareness—and small, continuous reflections and efforts.
Entrepreneurs should accept that one of the keys to successful entrepreneurship lies internally by embracing an entrepreneurial growth mindset. Without this, a business can fail, no matter how good its business idea or plan is.
By Juliet Mattheus, Head of Ecosystem, Riversands I-Hub
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