292 Payneham Road, Payneham SA 5070

(08) 8362 0060

(08) 8362 0061

info@owlfinancial.com.au

Cultivating a growth mindset

Cultivating a growth mindset

Ever had a plant die on you, and wonder where you went wrong? “But I watered it every day!” “There’s plenty of sun in that bit of the yard!” The simple truth is that there are lots of different elements that need to come together for plants to thrive. Even the hardiest species will struggle if something’s missing.

You can apply the same thinking to your personal growth. To learn and develop, you need opportunity and motivation. Depending on what you’re aiming for, you might also need specific resources. If you feel like you have access to the elements that support growth but you’re still stuck in a bit of a rut, there’s one vital thing you might be forgetting – the right mindset.

Two mindsets, two very different outcomes…

When it comes to self-esteem and self-improvement, there are two ways to look at yourself: with a fixed mindset, or with a growth mindset. It’s a psychological theory developed by Stanford psychologist Carol Dweck, over 20 plus years of research.i

People with a fixed mindset believe that intelligence and talent are pre-determined. They believe that they’re gifts you’re born with and can’t be changed. On the other hand, people with a growth mindset believe that abilities can be developed, changed and improved upon over time.

When someone has a fixed mindset, they’re more likely to avoid challenges, give up easily, and ignore constructive criticism. They’d rather shape the world around them than try to change themselves. For example, someone who doesn’t think they’re good at sports might decline an invite or opportunity to get active, because their mindset says they’re more of a ‘sitting at home with a good book’ type of person. As though the two are mutually exclusive.

Successful people, on the other hand, embrace challenge. They don’t see failure as the end – instead, they see effort (no matter the result) as part of the pathway to improving. And they find inspiration in others’ success – so they seek out people who challenge them, rather than just those who make them feel comfortable. It’s a pattern of behaviour you can see in all kinds of successful people, from famous entrepreneurs who’ve built their businesses from the ground up, to ordinary Aussies who’ve changed their diet and exercise habits mid-life (and kept it up).

Changing your path

One way you can start cultivating a growth mindset is to think of a time you tried to do something new and it didn’t work out. Ask yourself what really stopped you from trying again, and try to think of the lessons you learned from your experience. What are the elements of growth that you were missing? This will help you reframe it as a stepping stone, not a failure. For example, if you’ve tried to pick up a new language but dropped out after a few lessons. Did you really make time in your schedule for practice? Did you work on forming social bonds with your class mates?

The other trick is to try naming something you’ve always done the same way. Ask yourself why you do it that way, and whether there could be a better way. Don’t worry if what you’ve got in mind seems a long way off. Focus on cultivating the skill or ability and your triumphs along the way, instead of fixating on an outcome.

Think of it this way; you wouldn’t be disappointed with a sunflower seed for failing to sprout and grow into a six foot sunflower overnight. Enjoy each little stage of the growth process. Find quiet satisfaction in ‘getting it right’ – no matter how marginal the progress. Who knows; you might surprise yourself. And the people who matter most to you.

Articles released in the April 2018 OwlFM newsletter are below.

If you would like to discuss your financial position and existing strategy, contact us on 0883620060

Owl Financial Management ( OwlFM ) is an Adelaide Based Financial Advice Business.

 

i https://profiles.stanford.edu/carol-dweck?tab=publications

 

 


Financial Advisor Adelaide

We are an award winning practice that has been providing financial advice to South Australians since 1969. We really enjoy getting to know our clients and building a relationship with them that lasts over many years. We have a diverse range of clients from mum and dad to AFL players to ASX CEOs. All of which have a diverse range of financial advice needs and very different relationships to maintain. Our clients describe a 'breath of fresh air', personable, expert and people with high integrity. Clients have also mentioned that they are not treated as a number and the advice is specific to them. Working with clients for clients.

Financial Planner Adelaide

The one most rewarding thing about being a financial planner in Adelaide is when you have been working collaboratively with a client in developing and building their goals and objectives and the come to fruition. This give both the clients and myself a real sense of achievement and to use the famous quote 'are we there yet?' and together we can say YES! There has never been a better time to look towards what you want to achieve and start a financial plan so you can get there too.

Financial Planning Adelaide

A person's financial story is like a jigsaw puzzle... "lots of pieces needing to be put into their correct places". A financial adviser can assist a client to put the pieces in the right places by having a series of simple conversations about where a they are currently situated, where they want to be and what strategies can assist them. Every client has a different financial story and goals. Each jigsaw puzzle will always be different. A good financial adviser is experienced at putting together a wide range of jigsaw puzzles. Helping a client put their own puzzle together and seeing their satisfaction is a wonderful feeling.


Barry Phillis, Chris Scriva, Paul Cetrangolo and Owl Financial Management Pty Ltd are Authorised Representatives of GWM Adviser Services Limited Australian Financial Services Licensee Registered Office at 105-153 Miller Street North Sydney NSW 2060 and a member of the National Australia group of companies.

GENERAL ADVICE WARNING: The advice on this site may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.

Opinions constitute our judgment at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document. View Terms & Conditions >