How to develop and maintain a growth mindset as a founder.
A version of this content was originally shared during a Mindset Workshop for Project 2.8 - a Columbia Venture Community initiative to ensure female founders have equal access to venture capital as their male counterparts.
Interested in having me speak to your group? Reach out! It gets… very silly.
Something that the founders I work with ask is, “How can I prepare for rapid growth?” “What can I do now to level up my expertise and knowledge for the future?” “How can I manage and navigate upcoming uncertainty?”
The answer is (not) so simple.
Develop a growth mindset.
Easier said than done!
How do you actually develop one? What is one? What does it look like!
There’s so many books on this topic for ourselves as individuals, but the focus here is for founders, leaders, and executives that have to be in charge and look comfortable while doing it.
You’ve probably heard this before:
“…entrepreneurs are more at risk of burnout because they tend to be extremely passionate about work and more socially isolated, have limited safety nets, and operate in high uncertainty.” - HBR
In fact, 25% of startup founders reported feeling burnt out.
It’s hard to be in charge. Your company’s success rests on your shoulders.
That’s heavy.
And it’s hard to put down.
So what can we do to level up your mindset to handle whatever comes our way?
And no, it’s not going to be about getting up at 5am every day and take a cold shower after you run 15km. It’s not going to demand that you spend 3 hours of deep work every evening on industry expertise.
This is all going to be about what you need. How can you feel at your best.
After all, if you’re not at your best, how can you expect the company to be at its best?
So read on for three major tactics on how to improve your growth mindset:
Applying curiosity
Increasing flexibility
Developing support
Let’s dive into each of them, shall we?!
Applying curiosity
We’re not talking cat-style here. We have a tendency to hold on so tight to the way things have always been done. Or the ways that we’ve seen others do it. Or the ways our advisors think we should get things done. (That’s a recipe for a fixed mindset - one that believes nothing can really be changed.)
And that’s not you! Look at you! You’re already in growth mindset when it comes to your product, service, or thingamabob you’ve created!
But what does curiosity look like when it applies to your brain?! Here are three things to try:
-> Ask yourself, “how do I know that?”
In the world of subject matter expertise, it is incredibly difficult to take stock of your knowledge base. The next time you find yourself wanting to say, “Because I know!” flip it to, “How do I know this?” Shift from knowing -> discovering.
-> Choose One Hard Thing to take on
Angela Duckworth’s “Grit” outlines a tactic to increase your grit and resilience. Decide on one hard thing to take on. Give yourself a timeline, a goal, a schedule. Then go for it. This allows you to try something on, fail, and learn, all while without dramatic repercussions. Bonus points if it’s something not directly related to your business.
-> Say, “hmmmmmmm…”
The next time you want to expand your brain into the curiosity zone, take a step back, and say “hmmmm!” Judson Brewer did this with the US women’s olympic water polo team after a long hike during a 7-day silent meditation retreat. It seems really silly, but, when you say “hmm” your eyes automatically widen to take in additional perspective. Try it.
Increasing flexibility
We’re not talking yoga here. Although if you’re into yoga, go you, do your thang.
You already know it’s hard to plan things as an entrepreneur.
So what can we do to make sure that we’re loosening up those tight muscles and getting comfortable with being in a pretzel shape for an extended period of time? Here are three things you can try on to increase your flexibility:
-> Challenge network
Create a curated list of individuals whose opinion and expertise you trust. They can be mentors, subject matter experts, fellow founders, former colleagues, or an advisor. These are the people you go to not for advice or how-to, but to push you to question, adapt, and reconsider.
-> The 10-year plan
No one has a crystal ball to predict the future. 2012 didn’t expect 2022. Consider moving from linear to nonlinear. This doesn’t mean we don’t plan for the next decade. Or that we try to plan every single thing. Impossible. Instead, consider creating mini, micro-goals (that go in the direction of the big, meaty audacious goal.) We’re looking for direction, not the only path to get there.
-> Celebrate failures
The best way to remain flexible is to move beyond anticipation of errors toward celebration of them. Each test is an opportunity to build in chances to try, and mess up, and try again. Cheers to your next mess up.
Developing support
It’s really really really lonely to be in charge. You have to have all the answers, constantly be presenting a brave face, and aren’t “allowed” to make mistakes.
In fact, entrepreneurs are more often expected to have mental health issues, such as depression and anxiety. They’re more likely to burnout because their work=passion=value.
That is so much to handle.
So here are some actions to take on to ensure you’re surrounding yourself with the cushions you need to land on:
-> Time audit
Two things you can’t change: how many hours there are in the day, and how many of you there are. Plan accordingly. Define how you want to spend your time in percentages. Apply that to how many hours you want to work a week. Track it. Reassess. This is an incredible helpful tool to start to sort out what you might need to offload. Shout out to Amy Buechler for this one
-> Circle of trust
You’re going to need support. It’s hard to be a leader. It’s tumultuous. Create that community that’s going to lift you up, buy you a coffee, text you in all CAPS that they love you and they’re here for you. Folks to consider: friends, family, colleagues, a therapist, a coach, a community of entrepreneurs, etc. This isn’t the same as your challenge network, although there may be crossover, these are the people you would ugly cry in front of.
-> Selfish desires
You can’t pour from an empty cup. We’ve all heard that before. You’re going to need to make time for things that don’t have ROI. Dinners with friends, trashy television, sleep (!), language classes, dance lessons, going for a walk in the park, playing fetch with your dog (can I come?), doing your One Hard Thing… whatever it is… schedule some selfish time. Even if it’s time to sit still and eat your lunch.
And there you have it folks. Some tactics to help you level-up as a leader, while maintaining your reserves.
It’s a lot to be a leader. And you can’t run on empty.
If you feel like that’s exactly what you’ve been doing… reach out?
I’d love to be in your circle of trust and make some time for you to focus on exactly what you need to make things happen - without losing your mind.