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Have you got the ‘Growth Brain’

Business growth starts with the way you think.

As the world moves forward towards the new normal and into the digital age, more entrepreneurs are encouraged to develop a growth mindset. This industry buzzword encompasses a series of thoughts, beliefs, and mental patterns that ultimately affect your outlook in life and how you respond to various situations. Essentially, it describes your belief that anyone can learn, improve, and grow in their capabilities. 

A growth mindset in the business setting means a dedicated focus on learning new skills (also known as upskilling) related to your specific work. This mindset supports you through all trials and potential challenges because you firmly believe that with hard work and dedication, you can achieve anything you set your mind to. 

What is a Growth Brain? 

The growth mindset is the argument against the belief that talent and skill are innate. People who have a fixed mindset believe that a person’s intelligence is intrinsic, and can never be adjusted or changed. 

While this school of thought has its own advantages, emerging studies are proving the importance of developing a growth brain, especially for leaders of the modern workforce. In fact, many business experts believe that having a growth mindset may be the singular most important skill that every entrepreneur must develop to be successful today. 

To fully understand what a growth brain is and how it can be applied in the business setting, you need to understand what it first looks like. 

The Mentality of a Growth Brain

Successful businesspeople are those that are prepared for difficult times and have made contingency plans for potential challenges. These entrepreneurs understand that learning to be better also means understanding that some people are more skilled in certain tasks. They are willing to delegate various job responsibilities to an outsourced assistant so that work is more efficient. Remember that growth is all about learning and applying new skills – but alsounderstanding how you can improve your services and products so that your business continues to expand. 

Key Traits of a Growth Brain 

  1. Working smarter, not harder – When you develop a growth mindset, you are able to focus on the end goal rather than the process of making the product or delivering a service itself. Your goal now becomes constantly making things better and what can be learned from each part of the process. Growth-minded entrepreneurs are continuously asking for feedback from their customers so that they become aware of areas for improvement. 
  2. Delegate – A growth mindset is foundational to entrepreneurial success. A key component of this is learning when to delegate tasks to a professional admin assistant or virtual assistant Sydney. New entrepreneurs may be tempted to handle all aspects of their business at the beginning to cut down on costs. Nevertheless, this strategy of being everything all at once will lead to the person feeling overwhelmed and burnt out after a few months. A growth mindset understands that there is still room for self-development while seeking assistance from qualified professionals. 
  3. High Value vs Low Value – Developing a growth mindset means gaining better insight into how you conduct business. Growth-minded entrepreneurs can look at their failures objectively and understand that they are lessons to be considered. From these failures, entrepreneurs also learn how to distinguish high-value lessons from low-value ones and focus their attention on the former. 
  4. Take a Risk – Entrepreneurship is a risky endeavour, and you need to use your time wisely. To grow your business successfully, you need to take calculated risks on when you can learn new skills and continue building your growth brain and when it may be best to consider virtual assistant services. People who do not have a growth mindset usually don’t take calculated risks because they are worried about failing, or are certain that something will not push through. However, growth-minded entrepreneurs understand that there will always be risks in business and they are prepared to deal with these risks.
  5. Time Management – As you work towards building your empire, you need to learn excellent time management skills. Your business needs to operate smoothly, with all departments working together seamlessly like a well-oiled machine. If you’re handling a smaller operation, it may be more cost-efficient for you to consider outsourcing certain services to an admin assistant instead of hiring one in-house. This is especially true if you have seasonal tasks. 

The Solution to a Growth Brain

Developing your growth brain can have a significant impact on your entrepreneurial success, especially in today’s ever-changing business landscape. Companies that continuously innovate and transform have a higher chance of remaining competitive and relevant in their specific industries.  Most importantly, growth-minded entrepreneurs understand that they do not need to be the Jack of all trades and master of none to be successful. Understanding that one can learn new skills also implies that delegating certain tasks to virtual assistant services is essential for the success of their business. 

If you’re looking to partner with a virtual assistant Sydney, you can book a discovery call with Smarter not Hader diagnostic today. We support businesses of all sizes across all industries and help you maintain your growth brain for your continued success. 

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Chris Brown is a Director and Senior Mortgage Broker at New Vision Financial Services. He runs a Sydney based mortgage brokerage that’s servicing clients since 2015.

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Sam Panetta is a co-founder and the head of the lending department at Aureus Financial. His business helps clients get the funding that they need to grow their business, acquire their dream home and build wealth through property.

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