The professor of psychology, Carol Dweck, pioneered the research on mindset.
The Stanford Psychology Professor Carol Dweck has done pioneering work on ‘mindset’. She discovered that our mindset determines our mental attitude about how we respond to situations. She classifies the mindset into two types:
1) Fixed mindset people who assume that everything in the world is already fixed: intelligence, qualities, capabilities, traits, and everything runs and obeys the worldly order.
2) Growth mindset: people who believe intelligence is a quality that changes, grows, and develops, like a ropeway created on the pond’s wall by the constant rope running while drawing water from the well.
Most entrepreneurs possess a growth mindset; if not, he’s not an entrepreneur.
I recently read a report that 40% of startups failed last year. It’s projected as a big news. Globally, 90% of startups fail. If 40% is true, then we are the world’s best entrepreneurs or are still hiding our failures under the carpet.
Everyone who’s achieved incredible success has told me that success is going from failure to another failure until you achieve success.
People with a growth mindset regard failure as a learning experience; I attempted something very challenging, gave my best shot, and learned a great deal.
The only caution here is that despite failure if you continue to do the same things repeatedly, you are a fool.
I find Thomas Edison’s answer quite impressive. He tried 10,000 experiments to invent the filament of the light bulb, and each failure brought him closer to the final result.
Carol Dweck’s recipe for developing a growth mindset:
1. Learn. Learn. Learn.
2. Realize hard work is the key
3. Face setbacks.
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