In order to grow your small business or startup, you need to foster the right mentality in your workplace. Your entire team needs to adopt a growth mentality in order for your business to have the best chance at success. This type of thinking might not come naturally to every person in your company, which is why the right tactics need to be employed by you to help your team get there.
As you lead your team, make sure that you are leading them to think bigger and to contribute to your company’s success. From finding unique approaches to tackling cash flow problems to innovating your marketing strategy, a growth mentality has to be carried throughout every step of your business’ operations. Check out the following tips that can help you and your team adopt a growth mentality.
Start By Fostering The Right Mindset
The first place to begin is by assessing what kind of culture your company currently offers. Have you fostered a growth mentality in your business? In order for your team to be on the same page as you, they have to know what page you are on. It is imperative that you lead the way by ensuring you are operating with a growth mentality yourself. What are indicators of being in the right mindset for growth? First, it is helpful to understand that the opposite of a growth mindset is a fixed mindset. A person with a fixed mentality believes that they are a certain amount of creative, that they have a set level of intelligence, and that they can’t change much about their character. The opposite is someone who believes that they can become better, they can improve their intelligence, and they can grow into new phases of life.
Ask yourself a few key questions. How do you handle constructive criticism? If you are someone with a fixed mindset, you will try to avoid it at all costs and will retract when faced with critics. If you have a growth mentality, you will listen to criticism and look for ways it can help you to grow as a person. What about failure? Are you afraid of it? Someone with a fixed mindset will do anything to avoid failure and any challenges that might lead to it. However, if you have a growth mentality, you will see every failure and obstacle as another opportunity for learning. This is why a growth mentality is imperative for an entrepreneur. You need to be able to lead your business forward by allowing for failure in your life. This will spur you on to learn more and to grow as an individual and as a company.
As a small business owner, the mindset of your team will be greatly affected by you. Take the time to ensure you are operating with a mentality of growth and then encourage that in those around you.
Reward Creative Thinking
Do you allow people in your company to try new things? Are you constantly squashing creative ideas? Make sure that you reward innovative thinking in your business. Allow employees the ability to try new things and to even fail. Without a constant array of creative thoughts in your workplace, you will never unearth new ideas. Creative thinking, failure, and the ability to get up and try again will spur on the growth of your company as a whole.
Dedicate Time To Growth Practices
Whether it is once a week or once a day, make time in everyone’s workday for growth practices. You can get together once a week to brainstorm new product ideas. You can meet with your marketing team to ask them to think of the craziest and most outlandish ideas they can imagine for upcoming marketing strategies. Make sure that you help encourage your team through dedicated sessions to constantly question what you can do better and what ideas can be crafted for your company’s growth. Be sure that everyone is encouraged to contribute and that there are no wrong answers. Teach your team through these exercises that everyone can grow, there is always a chance for improving intelligence, and nothing is gained without a few failures along the way.
Solve Problems In Unique Ways
Finally, make sure that as a company, you and your team are looking to solve problems in unique ways. A growth mentality means that you don’t see a closed door as a final blow. Rather, you see a closed door as an opportunity for learning something new. How can you open that door in a previously unthought of way? Have you really explored all your options? Reach out to mentors, talk through problems with your team, and never stop pushing for new solutions.
Our Team Can Assist You With Growth
Here at the Commercial Finance Group, we help small businesses who are facing cash flow issues. We work with teams who have a growth mentality to turn this problem into a new opportunity. Through asset-based lending and factoring, we help companies turn around their cash flow problems. While invoice factoring may not be something you initially saw as a viable option for your business, a growth mentality pushes you to approach the issue from a new angle. If you are interested in helping your company grow with the right cash flow solutions, please reach out to our team today. We can work with you to help you attain capital that was previously out of reach.
