“Mindset” by Carol S. Dweck explores why some people seek a challenge and overcome failure in life, while others avoid difficult situations at all costs. This book is a must-read for those on the journey to entrepreneurship.
The two mindsets are fixed mindset and growth mindset, and they play a role in every action we perform in life. Our mindsets control how we view the world and ourselves. In a nutshell, those with a fixed mindset feel that talent and intelligence are set from birth. Those with a growth mindset believe hard work and perseverance lead to major accomplishments.
The fixed mindset can be dangerous to the learning process because people often quit once their natural abilities can’t perform at higher levels. Those with a fixed mindset will then shift blame, make excuses, or avoid challenges to ensure they give themselves a reason for their failure.
Those with a growth mindset seek challenges and feed on failure. Failing still sucks, but they understand that it is a natural evolution of growth and achievement. Failing is vital to becoming an entrepreneur and also building passive income streams. Let’s take a look at my five takeaways.
1) You can transition to a growth mindset over time. The first step is learning about the two mindsets and making a conscious effort to identify when you exhibit behavior consistent with a fixed mindset.
2) The two mindsets play a role in relationships as well. Those with a fixed mindset seek partners that automatically admire them, no questions asked.
3) Those with a growth mindset seek partners that will push each other towards happiness and achievements as a team.
4) Kids show a fixed or growth mindset very early on. Those that display a fixed mindset can be prodded into growth mindsets by accepting more challenging assignments, being asked what they learned, and showing humility.
5) The fixed mindset is detrimental to learning because it tells us that genius is natural and that effort is for dumb people. It can be disastrous when they (fixed mindset) get to a college or corporate environment that preaches a fixed mindset and praises natural genius.
Like Enron, there are numerous corporate stories where everyone from the CEO and down practiced a fixed mindset. Enron did not value learning, growth, teamwork, and education. They recruited those with the best stats out of college and told them they were amazing. The company went down in flames.
The growth mindset seeks to challenge and accomplish. It does not seek admiration—only to feel the joy of discovery and knowledge. To become a true entrepreneur, one must seek a growth mindset.
We may never achieve the perfect growth mindset, but now that we know the two mindsets, we can at least work towards a higher level of fulfillment. Everyone—students, parents, entrepreneurs, athletes—should put this book on their reading lists.
- Build Passive Income: 21 Passive Income Ideas (book)
- Free PDF Downloads: Download FREE PDF books here
- Financial Mindset: Become CEO of Yourself (book)
- Retirement Planning: Retirement Planning at Any Age (book)
- Investing: How We Plan to Retire on Dividends (book)
- Cryptocurrencies: My First Book on Cryptocurrencies (book)
- Real Estate: Financial Independence through Real Estate (book)
- Business: Retire Rich, Retire Comfortable with a Business (book)
- Everything plus way more: The Biggest Book on Passive Income Ever! (book)
- I bought a Kindle Oasis: Check it out Amazon
- Read My Books for Free: Free Kindle Books Schedule
- Sign up to Access our “Hidden” Free Kindle Book Schedule
- My first Children’s book: A Child’s First Book on Passive Income (book)
- Book Reviews: 54 Takeaways from 54 Books (book)
- Want to Build Passive Income from Books and Affiliate Marketing? (Learn here)
- Writing: Can Grammarly Make You a Better Writer? (direct)
- My Favorite Chromebook: The Ultimate Chromebook (direct)
- Follow us: On our Facebook Page and Join our Facebook Group
- Amazon Author Page: Check out my author page on Amazon
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Leave a Reply