Numerous entrepreneurs through countless sources in the internet have emphasized the importance of optimism and establishing a healthy mindset in growing a business. In fact, the positivity and motivation industry has grown extensively that it gave rise to big names as Tony Robbins, Zig Ziglar, Eric Thomas and famous entrepreneurs like Gary Vaynerchuk and many others. This only proves that positive psychology and the right mind-setting is an indisputable significant factor for business success.
Running an app business is no exception to this rule. Possessing the right mentality is a highly important ingredient to growth and profit in the app market, so much so that it could make or break even the most established app entrepreneurs. This science of growth mentality has been the subject of the studies conducted by world-renowned Stanford University Psychologist, Carol Dweck.
Growth Mindset vs. Fixed Mindset
Dweck on her book, Mindset: The New Psychology of Success emphasizes the difference of having a growth mindset and a fixed mindset. She effectively explained the distinction and effects of these two, through the use of students as examples.
“Fixed mindset students believe their basic abilities, their intelligence, their talents, are just fixed traits. They have a certain amount and that’s that, and then their goal becomes to look smart all the time and never look dumb.
In Growth mindset students, they understand that their talents and abilities can be developed through effort, good teaching and persistence. They don’t necessarily think everyone’s the same or anyone can be Einstein, but they believe everyone can get smarter if they work at it.”
The power of growth mindset motivates a person to transcend beyond their current limitations and work hard to reach new heights. For app entrepreneurs, this means recognizing hard work and effort that are essential factors to acquire success in the market, on top of technical skills and marketing talent.
The Growth Mindset in Running an App Business
As every app entrepreneur knows, growing an app business can sometimes be excruciatingly challenging, especially in considering the fast-paced, overcrowded market where ideas and apps rise and fall in every tick of the clock. Having the right psychology gives one the power to transform these challenges into opportunities for growth.
As what Co-Founder and CEO of Mindset Works Eduardo Briceño said in his famous TedTalk on The Power of belief, “when we realize that we can change our own abilities, when we have a growth mindset — we bring our game to new levels.”. And it is in this game-changing manner that appreneurs modify their strategies and come up with better tactics to realize growth.
Establishing the right psychology in handling your business gives you tremendous advantage over others. It puts you in a position where the potential to develop is endless and will fuel your passion until your reach your goals.
Using Growth Mindset to Grow Your App Business
With the growth mindset, you can hit your goals and grow your app business in epic proportions. Here are some of the applications of growth mindset in running an app biz:
- Finding opportunity in the ever-changing demands of app users.
- Gaining motivation to improve technical and marketing skills.
- Finding ways to grow more in every possible facets of business management.
- Not Fearing Feedback or Failure.
- Keeping your eyes fixed on the goals.
- Inspiring your team to step up while creating a healthy business environment (Happy business, is good business)
Actual Benefits of Growth Mindset for an App Business
For those who are new to the concept of growth mindset, cultivating this inside your company may not be easy. However, asking the right questions like in Jeff Boss’ article on The Entrepreneur ,is a good start in practicing it. Once established and forged within your organization, you gain massive benefits, including:
- Creating a better app that has the potential to be successful.
- Boosting exposure as you recognize putting hard work leads you to where you want to go.
- Increasing download rates because you are motivated to market harder and smarter.
- Growing retention rate as you continue to improve your product to cope up with changing needs.
Technical skills and talent are important for an app business, but having the right mindset puts you in an even greater advantage.