Growth mindset vs fixed mindset, and its impact on business
I have been in the consulting business long enough to be able to distinguish between people based on how their mind works. There are leaders who want to innovate and test new things in order to improve how they manage business - I call them people with a growth mindset. And there are the ones who feel more comfortable to stick to old rules and methods in order to minimize the chance of something going wrong - these are people with a fixed mindset.
Growth mindset, innovation and success goes together
Soon after getting started as a consultant, I have learned that work is a lot more easier with people who are open to constructive criticism and willing to take action to improve how they do things. Business development is a process where old procedures are often ditched and replaced by new ones that are more efficient and productive. People with a growth mindset are willing to learn, to test and experiment and understand that there is no development without occasional failures.
Our business development programs have brought incredible results for most of my clients who were open to implement changes. With several re-branding and complete overhauls of digital marketing departments of various hotels behind my back I can tell that this mindset, a willingness to invest in business development and working smart is a perfect recipe for growth and long term success.
Those clients who are with me since 2-3 years have developed from insignificant brands to leaders in their category and often doubled or even tripled their revenue from online channels. Obviously their ad spend has increased and they had to hire more people to their digital team, but all of these expenses are returning generously every single month.
Fixed mindset environments are toxic and will most likely fail
I really don’t like to work with companies where fixed mindset people are sitting in the high chairs. Unfortunately I had the “luck” to meet and sometimes work with teams who were extremely closed minded and their willingness to change was zero.
While my positive clients have grown tremendously, most of the time these overly passive companies have not even managed to figure out their basic issues. You can image that they were left behind in the competition and progressive brands have left them quickly.
Typical signs of a passive, closed minded environment is politics, slow decision making procedures and no willingness to invest in improving their business. Usually there are various reasons for this, such as: “we have been doing this for years”, “we tried it and did not work”, “none of our competitors are doing it”, or “we don’t have the budget for this”. It’s total bullshit.
If you are a consultant helping as a 3rd party, or you are considering taking a job in such an environment then I warmly suggest you to move along and don’t waste your time on these kind of people.
Several companies like this have signed up for my consulting service before and most of them have failed miserably. For some time I was thinking that it’s my fault but looking back I understood that they were sabotaging their own business growth by placing obstacles in front of themselves. Policies, budget restrictions, complicated decision making procedures, you name it.
This is the reason why I refuse to work with companies where a passive mindset is dominant.