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Fixed Vs Growth Mindsets > Introduction > Flashcards

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Good morning,
For those of you who may not know my name is Gareth and it’s an honor to be able to speak with you this morning.


Topic: customer example

Speak about two mindsets
Thought of a simple example, that I know I faced early on in my career and a lot of you face this challenge daily.
There are some clients that stop us dead in our tracks, whether it be the hard core Afrikaner or the quick talking Indian


Topic: mindsets are created

Mindsets are created from previous experiences and how you handled them. Each time a similar challenge is presented you recall how you may have failed.
Depending on your mindset you will try your damnest to avoid the situation because you feel you cannot handle it and you don’t want to fail again or you will believe that you’ve learnt from the previous experience and see it as another learning opportunity


Topic: limited abilities

When you believe that you cannot grow and that your abilities are fixed, you will avoid facing challenges and therefore never stretch yourself. But if you believe that your challenges are opportunities you’ll never back down from them.


Topic: importance in a team & no one is perfect

These two mindsets are important to understand from both and individual perspective as well as how we behave as a company.

It is also important to note that we generally don’t only live in one of these two mindsets, we often bounce between them depending on our challenges. The goal is to be intentional about leaning towards the one rather than the other


Fixed mindset: define

People and teams believe that their qualities, intelligence, or abilities cannot change. When you feel you are limited it creates the fear of feeling dumb or been wrong. For example, if you get an F for a test, and you believe that you cannot improve, you are defining yourself. You’ll put less effort into that challenge, avoid it, or make excuses when things don’t go your way.


Fixed mindset: company example

In my career, I’ve worked for a business that had a fixed mindset culture. When challenges were presented, you could literally see the team withdraw. People would only give enough of what they felt they were capable of because they didn’t want to be wrong and look stupid. And they didn’t want that because they thought they’d be forever defined by that one moment


Fixed mindset: company example continue

This type of mindset obviously brought a lot of problems, because people were not stretching themselves and therefore no one was growing. This had big consequences not only for the individual but the companies growth as well.


Fixed mindset: not stretching yourself

When you don’t stretch yourself, you will begin to feel stagnant. The lack of growth within a team or yourself will drain your motivation. This becomes clear when you see a lack of effort or, for example, a workplace strictly becomes an 8 to 5 job instead of a place that you enjoy and want to be part of.


Fixed mindset: wrap up

To summarize, a fixed mindset means that you think you cannot develop and that an outcomes of failures defines your abilities.


Growth mindset: define

Teams and people with a growth mindset realize that talent alone will not bring success, they understand that putting in the EXTRA effort leads to higher achievements. This mindset has an underlying belief that qualities and abilities grow with time and experience. When faced with difficulties they don’t think “I’ve failed” but rather “I’m learning” and then use those learnings when presented with challenges.


Growth mindset: pressures faced & opportunities

I’m sure, like me, we’ve all faced challenges in our lives or careers that lead to self-doubt so I’m not saying that with a growth mindset that there’s no pain when we fail, rather, we understand that it’s not a defining moment and an opportunity to learn. So instead of avoiding challenges we must start to seek them out and thrive on them.


Growth mindset: wrap up

The main principle is to know that abilities do develop with time and experience. You are not defined by one moment.
It is important to reflect on your failures and face them by been candid with yourself. Once you have done that you have to be intentional about applying your learnings by seeking out your challenges


Mission statement

We believe that the insurance industry is in desperate need of change

The opportunities for change lie in innovation

We are fanatical about learning what customers want


Grit: growth mindset not easy

By no means is applying a growth mindset easy, you will need to apply some grit to break down walls. But grit doesn’t just appear out of thin air, you need to have your values and goals in place. If you don’t have values and goals when a challenge appears you’ll have very little to fight for.


Grit: practice & purpose

Practice: deliberate practice means learning as you go, getting feedback from your experiences as well as from others

Purpose: purpose is anything you can develop an interest in. Practice is useless if what you practicing is something you don’t feel purposeful about or can be highly interested in. The word purpose gets thrown around a lot. What’s important isn’t that you find some natural calling, but instead find something that you can readily dive deeper into.


Grit: hope and time

Hope: failure is often inevitable, but we learn to embrace failure as an opportunity to learn, improve, and then get back up again, we’re more likely to succeed in future attempts

Time: the last part of the grit formula is simply time. Time to devote yourself to practice, purpose, and developing from failure.
Having something you can be highly interested in, something you can deliberately practice, something where you hope you can succeed, are all important. The key is giving yourself time to practice and learn and stay in the game