Financial Breakthrough Depends on Your Perspective

If you’ve ever worried about the financial health of your business, you’re not alone—especially amid the current economic climate. But if you feel perpetually stuck when it comes to achieving the success you’re after in your business, assessing your mindset could reveal the root of your problems. Your mindset directly impacts your ability to achieve your goals, and if you consistently harbor a negative one, you might be experiencing the effects of a fixed mindset according to psychologist Carol Dweck. 

A fixed mindset is described as believing that your capabilities are set in stone, and that the ability to improve is out of reach. With a fixed mindset, you tend to view challenges as insurmountable because you believe you’re incapable of developing the skills required to overcome new challenges. This mindset keeps you stuck and limits your ability to reach your monetary potential. 

The alternative is a growth mindset: believing that your talents and abilities aren’t limited by what you were born with, and that you have the potential to reach new levels of success with dedicated effort. Those with a growth mindset view challenges as opportunities, and believe that just because they’re facing a difficult or unfamiliar situation doesn’t mean they can’t acquire the skills needed to overcome them. 

Many people struggle financially by operating in a fixed mindset, and buy into the belief that they’ll never be able to achieve business success because of their perceived lack of skills or knowledge. By accepting their limitations as unchangeable, they block themselves from new levels of monetary success. Luckily, you have the power to shift this perspective by practicing a growth mindset and create space for more financial opportunity in your business. 

The foundations of a growth mindset include shifting from scarcity to abundance, practicing lifelong learning, cultivating persistence, seeing challenges as opportunities, and viewing failure as a path towards growth. 

Credit Repair created a helpful guide that expands on each tenant of a growth mindset and offers examples of how to start practicing it in your own life and business. Understanding how your perspective influences your potential for success is the first step towards breaking through the negative beliefs that keep you stuck so that you can start carving the path towards greater financial success and security in your business. 

Image Courtesy of Credit Repair Blog.