12 Ways Growth Mindset can make you rich

You can grow your money with growth mindset
You can grow your money with growth mindset

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try one more time. Thomes Edison

The word growth mindset itself has a positive vibe in it but the question on the top of our mind is, “How can I change my thoughts for success?”

Growth mindset is often misunderstood with being flexible or open minded or having a positive outlook etc. It’s therefore crucial to understand, what is growth mindset and how to develop growth mindset.

Carol Dweck, growth mindset expert, conducted a research on fixed mindset vs growth mindset and in an article that she wrote in Harvard Business Review, she describes as under –

Individuals who believe their talents can be developed (through hard work, good strategies, and input from others) have a growth mindset.”

Most of us always underestimate our potentials and as a result, we get stuck in a fixed mindset. Our fixed mindset drives us to wrong conclusions about our limited ability.

A Short Story – Ears of cockroaches are located in its legs.

Where does the cockroaches have their ears?
Where does the cockroaches have their ears?

Let me share with you a funny story : There are right and a wrong way of making conclusions 

There was once a heated debate in the academic circle over the subject of cockroaches and how they hear. No matter how much research anyone did the academics could not agree with each other on the matter. But there was this one scientist who was tired of other colleges who were making conclusions without any conclusive facts. So our brave scientist decided to prove that the ears of the cockroach are located in its legs.

To prove to everyone that is the case he started conducting experiments right in front of his colleagues. First, he put a cockroach on a table and loudly clapped his hands. The cockroach ran away. Then the scientist tore one of the cockroach’s legs and clapped his hands again. The cockroach ran away once more.

Next, the scientist tore a second leg and clapped his hands loudly for the third time. Though clumsily, the cockroach ran away yet again. Then the scientist tore the third leg and clapped his hands again. The cockroach again moved, though it couldn’t jump. Now the scientist tore of the final fourth leg and clapped his hands loudly for one final time. The cockroach remained in one place.

“See, now the cockroach is deaf. And that, my dear colleagues is the right way of making conclusions based on scientific facts.”

The above story, though funny, shows how we fool ourselves to get into wrong conclusions with totally wrong facts in a convincing manner. Let this story be a reminder that making conclusions can go very wrong if you manipulate the facts about how you want them to be.

This is what exactly happens with our mindset. Based on our misconceptions and false beliefs, we conclude that we have limited capabilities.

What is Growth Mindset?

Growth mindset is the belief that abilities can be developed

I love the definition given by Carol Dweck as under –

“In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.”

It’s a well known now, Neuroplasticity, also known as neural plasticity, or brain plasticity, is the ability of neural networks in the brain to change through growth and reorganization. These changes range from individual neuron pathways making new connections, to systematic adjustments like cortical remapping.

The best part is, the growth is possible in any age.

The crucial factor is our belief system and as Carol says, people with Growth mindset believe that their most basic abilities can be developed through dedication and hard work.

You need to believe that you are capable of much more and there is no limit to the possibility i.e. Growth Mindset.

Have you heard of Wilma Rudolph, an American sprinter born in Saint Bethlehem, Tennessee, who became a world-record-holding Olympic champion and international sports icon in track and field following her successes in the 1956 and 1960 Olympic Games.

At the age of four years, Wilma had polio and wore braces. Doctors declared that she will never be able to put her foot on the earth. But her mother never left her hope.

Against the advice of the doctors, at the age of nine she took out her braces and could take her first step. Encouraged by her first step and from starting to walk, she took part in her first race at the age of thirteen and came last.

With all her physical limitations, she wanted to be the fastest woman on the earth. Rest is history.

She became the first American woman in the world to win three gold medals in single Olympic. Wilma was called the fastest woman on the earth in the 1960s.

That’s Growth Mindset. It’s all about one’s belief.  

Growth mindset can help you achieve anything in life including making you rich. Believe in yourself and you can achieve.

The 12 Ways Growth Mindset can make you rich

  1. Embrace Imperfections – No one on this earth is perfect but we all have our own unique qualities. Don’t focus on imperfections, focus on your strengths and work on them.
  2. Failures Are Learning – Never look at your failures as your weakness. There is something to learn from each failure. Thomas Edition said, “I have not failed 10,000 times. I have not failed once. I have succeeded in proving that those 10,000 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.”
  3. Try Different learning tactics – When something does not work in a particular way, there is always another way. Always look for alternate tactic when one fails.
  4. Understand The Power of Subconscious Mind – Our subconscious mind is the greatest tool in our hand when properly understood. We perform 95% of our activities from our subconscious mind, which explains its power. You can get more details in my blog, The Power of Subconscious Mind. How to Boost it?
  5. Stop Seeking Approval – Poor self-images pushes us to seek approval from others. Be confident to not seek approval. You may take feedback. Must understand the difference between feedback and approval.
  6. Enjoy the Process– You must enjoy the journey towards your goal more than the goal itself. The goal can be achieved when you enjoy the process, otherwise, you are likely to give up on the way.
  7. Don’t be Scared of Being wrong – If you want to be always right, then many a time you will not start at all. Everyone commits mistakes and there is nothing wrong with it. Be bold enough to accept mistakes and correct them. Get excited about what could go right.
  8. Embrace Challenges – Challenges are part of our life and the bigger the job, the bigger will be the challenges and obstacles. You have to be persistent and never give up. When you enjoy the process, you gracefully face the challenges.
  9. Learn From Criticism – Remember that the more you grow there will be greater the chances of criticism. It’s part of the process. Don’t get bogged down by them. In fact, criticism gives you an opportunity to look at them and improve wherever required.
  10. Efforts Are Path to Mastery – More effort you put better will be your mastery over the subject area. I love the quote by Helen Hayes, “The expert at one thing was once a beginner.”
  11. Don’t Envy Others’ success – Envying others’ success is one of the worst things you may do. You can learn from others’ success and take up the challenge to do better but never envy.
  12. Always Believe in Your ability – Never have doubt about your ability. Be firm in your belief that you have latent potential that can take you to great heights.

If you can apply the above twelve principles, be assured that you are on the track of Growth Mindset.

Evaluate yourself on each one of the above principles and give yourself a score of 1-10 in each area. This exercise will give you an idea, where you stand as of now and which are the areas that need more attention.

First take up the area where your score is minimum and start working on it. Note down at least one step taken by you to improve upon it each day. Reassess your score after seven days and see the change.

Thus take up each area and within 3-6 months you will see a real different person in you.

Remember, each baby step is important and the most import is consistency. It does not matter how fast or slow you move, consistency is the key. Be persistent in your journey towards growth mindset.

Yes, if you develop the growth mindset based on the above 12 principles, it can make you rich beyond doubt.

The better part is, a growth mindset will not only make you rich but will uplift you in the other spectrum of life like health, relationship, and spirituality. You will start living an abundance lifestyle.

Affirmations for Growth Mindset

Let me share some of my most favourite and powerful affirmations as a part of growth mindset activities –

  • I’m always open to learning
  • Today I will try something new
  • I’m not scared of failures
  • I never give up
  • I find new ways to do things if something does not work
  • I learn from criticism
  • I don’t seek approval
  • I build new habits that will help me succeed
  • My imperfect action is better than no action
  • I always strive to improve
  • I’m enough

Repeat the above affirmations everyday morning and visualize that you are growing and moving towards your goal of having growth mindset.

Leave a Comment

Your email address will not be published. Required fields are marked *