{"id":1610,"date":"2020-08-07T14:27:30","date_gmt":"2020-08-07T19:27:30","guid":{"rendered":"https:\/\/www.northone.com\/blog\/?p=1610"},"modified":"2022-12-07T06:35:25","modified_gmt":"2022-12-07T11:35:25","slug":"growth-mindset","status":"publish","type":"post","link":"https:\/\/www.northone.com\/blog\/motivation\/growth-mindset","title":{"rendered":"Growth Mindset: What is it?"},"content":{"rendered":"\n<p>Growth mindset is an idea that&#8217;s gained a lot of buzz in the past few years. You may have heard the term championed by successful entrepreneurs and <a href=\"https:\/\/www.youtube.com\/watch?v=-71zdXCMU6A\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">superstar academics<\/a>. You also may have heard about it from a long-estranged high-school friend getting in touch with an exciting opportunity in the world of makeup sales or protein drinks.&nbsp;<br><\/p>\n\n\n\n<p>While the words get thrown around a lot&#8230;what do people actually mean when they refer to growth mindset? And how exactly can a growth mindset help you and your small business? <br><br>In this article, we\u2019re going to cut through the jargon to define the term. We\u2019re also going to talk about how growth mindset can positively impact your business, just like it\u2019s done for ours.&nbsp;<br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Okay_so_what_exactly_is_a_Growth_Mindset\"><\/span><strong>Okay, so what exactly is a Growth Mindset?&nbsp;&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A growth mindset is when a person believes that skills and attributes are dictated by the amount of effort they put in. That doesn\u2019t mean that we&#8217;re all born with the same talent or abilities. But it does mean the outcomes we want are directly impacted by our willingness to work, adapt, and overcome.&nbsp;<br><\/p>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\"><a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.youtube.com\/watch?time_continue=173&amp;v=V7XjFTrPl6o&amp;feature=emb_title\" target=\"_blank\"><strong>To put it simply<\/strong><\/a><strong>: Belief leads to action. And action leads to growth.<\/strong><\/p>\n\n\n\n<p>The alternative to a growth mindset is a fixed mindset. With a fixed mindset a person believes that their intelligence, character, and creative abilities are limited. They can&#8217;t be changed in any meaningful way. We have what we have and should live with it. <\/p>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">There is power in believing <a href=\"https:\/\/www.youtube.com\/watch?v=_X0mgOOSpLU&amp;feature=emb_title\">that you can improve.<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Where_does_the_Growth_Mindset_idea_come_from\"><\/span><strong>Where does the Growth Mindset idea come from?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Because the term growth mindset has become so common, it is easy to brush off as a fad in pop-psychology, destined to go the way of adult coloring books or the Atkins diet. But the ideas behind growth mindset are rooted in years of study from Stanford psychologist <a href=\"https:\/\/en.m.wikipedia.org\/wiki\/Carol_Dweck\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Carol Dweck.<\/a>&nbsp;<\/p>\n\n\n\n<p>In this <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.youtube.com\/watch?v=hiiEeMN7vbQ\" target=\"_blank\">viral speech<\/a>, Dweck outlines the growth mindset by referring to an early experiment.<\/p>\n\n\n\n<p>Ten-year-olds were given tasks that were a little bit too difficult for them. In response, some kids said things like \u201cI love a challenge\u201d or \u201cI was hoping this would be informative\u201d while other children viewed the tasks as an attack on their intelligence.&nbsp;&nbsp;<br><\/p>\n\n\n\n<p>That perspective was important: were the tasks something they could solve by asking for help, learning new information, and trying a different process? Or was the ten-year-old a failure because they couldn\u2019t immediately master a challenge slightly outside their skill level?&nbsp; &nbsp; <br><br><br>The answer is obvious. Anyone who labels the kid a failure is a jerk. And the growth mindset perspective &#8212; <a href=\"https:\/\/www.youtube.com\/watch?v=_X0mgOOSpLU&amp;feature=emb_title\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">the power of believing you can improve<\/a> &#8212; leaves an opportunity for the students to, you know, actually learn.&nbsp;<br><\/p>\n\n\n\n<p>Dweck refines and expands these ideas in her <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.youtube.com\/watch?v=_X0mgOOSpLU&amp;feature=emb_title\" target=\"_blank\">TED Talk<\/a>, pointing to a <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mindsetworks.com\/science\/Case-Studies\" target=\"_blank\">case study<\/a> teaching the growth mindset in classrooms. The school saw huge jumps in student learning, academic gains, and narrowing the achievement gap.&nbsp;<\/p>\n\n\n\n<p>The talk also points towards a bigger question: if we understand the value of a growth mindset in children, why aren\u2019t we applying that same kind of thinking to how we interact with our peers or &#8212; better yet &#8212; how we interact with ourselves?&nbsp;<br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Practical_Applications_of_Growth_Mindset_for_your_small_business\"><\/span><strong>Practical Applications of Growth Mindset for your small business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When we\u2019re giving praise, taking criticism, or planning for the future, having a growth mindset helps us think about the steps we need to take to achieve our goals. It allows us to take control of situations rather than assuming they\u2019re a byproduct of talent, economic factors, or fate. Here are three comparisons between fixed mindset and growth mindset for small businesses. <\/p>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\"><strong>Fixed Mindset: <\/strong>This is the way our business has always operated, it will never change. <br><br><strong>Growth Mindset:<\/strong> Is our business working as effectively as it could? Is there anything we can do to make things better? <br><br>A lot of people were skeptical when we started Northone. They said that banking moves at a glacial pace and users would stick with familiar institutions. But we believed people wanted a digital bank experience that was on par with the apps they use in their day-to-day lives.&nbsp;<br><br>A July 2020 survey stated that 6% of US adults with a checking account now consider a digital bank to be their primary bank. That number is a 67% increase from January 2020. Northone has been able to grow because we believe that better banking &#8212; a 24\/7 digital experience helping small businesses &#8212; is the future. <br><br><strong>Fixed Mindset:<\/strong> A problem in your business is a sign that you\u2019re about to fail.<br><br><strong>Growth Mindset: <\/strong>A problem in your business is an opportunity to serve customers better.<br>&nbsp;<br>With any small business, things will inevitably go wrong. What differentiates a business from being successful or unsuccessful is how they react to those problems.&nbsp; If a customer is telling you that something isn\u2019t working, there is a good chance that other customers are having a similar experience. By acknowledging and addressing their needs you\u2019re getting valuable feedback on how you can improve your business. It\u2019s a similar situation if you\u2019re not seeing your company grow at the pace you\u2019d like. What roadblocks are keeping you from where you\u2019d like to go? And what are the actions you can take to move forward?<br><br><strong>Fixed Mindset:<\/strong> The goals I have for the business are too big. I\u2019ll never be able to get there. <br><br><strong>Growth Mindset:<\/strong> I\u2019ve got goals for my business. What are the steps I can take today to get closer to those goals?<br><br>An inactive person who wants to run a marathon shouldn\u2019t start by attempting the whole race. They need to train, practice, and grow their fitness over time.&nbsp; It\u2019s a similar situation when thinking about business. It\u2019s important to be ambitious with your dreams, but the way to achieve those dreams is taking small steps outside of your comfort zone and continually working to improve.&nbsp;<\/p>\n\n\n\n<p>Growth mindset isn\u2019t magic. While the actions associated with the term can seem intuitive, they take work to implement in your own life. At Northone we&#8217;ve gained a lot of value from continually considering new ways to solve problems and trying not to get too fixed in any ideas. There is power that comes from <a href=\"https:\/\/www.youtube.com\/watch?v=_X0mgOOSpLU&amp;feature=emb_title\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">believing you can improve<\/a>.&nbsp;<\/p>\n\n\n\n<p><em>For more information on our banking and how Northone can help your small business follow us on twitter: <a href=\"https:\/\/twitter.com\/North OneBanking\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">@North OneBanking<\/a><\/em><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Growth mindset is an idea that&#8217;s gained a lot of buzz in the past few years. You may have heard the term championed by successful entrepreneurs and superstar academics. You&#8230;<\/p>\n","protected":false},"author":15,"featured_media":1611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[218,127,217,216,139,213,201],"class_list":["post-1610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motivation","tag-fixed-mindset","tag-freelancer","tag-growth","tag-growth-mindset","tag-llc","tag-northone","tag-northoneapp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is a Growth Mindset? | North One<\/title>\n<meta name=\"description\" content=\"Getting into a growth mindset might not be the easiest thing to do when first starting your small business. 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But what is a growth mindset?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.northone.com\/blog\/motivation\/growth-mindset\" \/>\n<meta property=\"og:site_name\" content=\"North One Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/northonebanking\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-07T19:27:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T11:35:25+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/08\/Blog_GrowthMindsetvsFixedMindset_Teal_Illustration_Static_v1-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1737\" \/>\n\t<meta property=\"og:image:height\" content=\"1140\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Graham Isador\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NorthOneApp\" \/>\n<meta name=\"twitter:site\" content=\"@NorthOneApp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Graham Isador\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset\"},\"author\":{\"name\":\"Graham Isador\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/person\\\/c127642fdbbf55357f0749c370a1720b\"},\"headline\":\"Growth Mindset: What is it?\",\"datePublished\":\"2020-08-07T19:27:30+00:00\",\"dateModified\":\"2022-12-07T11:35:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset\"},\"wordCount\":1102,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/Blog_GrowthMindsetvsFixedMindset_Teal_Illustration_Static_v1-1.png\",\"keywords\":[\"fixed mindset\",\"freelancer\",\"growth\",\"growth mindset\",\"llc\",\"northone\",\"northoneapp\"],\"articleSection\":[\"Motivation\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset\",\"name\":\"What is a Growth Mindset? | North One\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/motivation\\\/growth-mindset#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/Blog_GrowthMindsetvsFixedMindset_Teal_Illustration_Static_v1-1.png\",\"datePublished\":\"2020-08-07T19:27:30+00:00\",\"dateModified\":\"2022-12-07T11:35:25+00:00\",\"description\":\"Getting into a growth mindset might not be the easiest thing to do when first starting your small business. 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