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Developing your growth mindset

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In response to my previous article “Surbana terminated 50 staff”, one reader blasted me for writing a disguised advertorial. I was a bit disappointed because my intention of writing that article was actually to encourage readers to develop a growth mindset. If you are interested in developing your potential, please do read on.

The term “growth mindset” was coined by Dr Dweck, who discovered that our mindset can shape our understanding of learning. Broadly speaking, it means that we can actually grow our brain to enhance our performance in life and indirectly increase our wealth. Arising from this, we can either choose to have a fixed or growth mindset.

Some people believe that human beings are born with a certain level of intelligence and thus, assume that they can’t do much to change their destiny in this respect. This mentality is called “fixed mindset”, which curtails learning opportunities because people who have fixed mindset choose to believe they cannot change for the better.

On the other hand, there are people who believe in growing themselves through learning. They are not afraid of learning new things and have a knack of learning from their mistakes. Such people possess “growth mindset” and are often motivated by success. They are resilient and are always curious to learn.

financial destiny

Which category of personality do you fall in? As a wealth builder, it is important to keep learning and growing our knowledge. Sometimes I am guilty of having a fixed mindset, especially when it comes to learning new stuff. But I keep telling myself that in order to improve myself, I have to overcome my negative thoughts and persevere. I view mistakes as lessons for me to grow and view wealth as a journey rather than a destination.

In the early days of my investment journey, I made some really amateur mistakes that were really borderline stupid. On looking back, I didn’t realize I am capable of committing mistakes like buying stocks based on tips and investing in hot stocks that turned out to be toxic. Overall, I have made monies from most of the stocks that I bought but most of the gains were wiped out by one single toxic stock. Can imagine that? It is like taking one step forward and then three steps back.

Do I have any regrets? Absolutely not the case because these experiences helped to shape my investment philosophy and make me a better wealth builder. The investment pitfalls were indeed frustrating. Nonetheless, I consider myself lucky that the mistakes were not financially fatal. If given a choice, sometimes I wish that I have a mentor who can guide me on investment strategies so that my learning curve would not be so steep.

Our best asset is actually our mindset. To better harness our brain potential, there is a need to invest in tools that help us to make better investment decisions. In school, we are not taught the techniques on how to build wealth.

Sometimes in life, you need to invest some monies in yourself in order to build a better future. Start empowering yourself by investing in yourself.

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SG Wealth Builder

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