Richard Branson

Richard Branson Explains Why Most Entrepreneurs Lack the Right Mindset

Growing and failing aren't mutually exclusive.
Richard Branson Explains Why Most Entrepreneurs Lack the Right Mindset
Image credit: Bloomberg | Getty Images

To excel as an entrepreneur, having a “growth mindset” is vital, explains Virgin Group founder Richard Branson in a recent blog post. That means being willing to learn, make mistakes and experiment.

Related: Richard Branson: To Be Successful, Take the Stairs

Successful entrepreneurs take risks, are willing to fail and live with the consequences. Those who are unable to face these challenges are likely not meant to be entrepreneurs -- or they must change their mindset. Even the most “talented people have fixed mindsets and are unwilling or unable to make the necessary changes to improve,” the billionaire entrepreneur writes.

In general, a fixed mindset has many downsides, but when it comes to entrepreneurship, the stakes are especially high. When someone is unwilling to change or improve, his or her business suffers. As Branson puts it, “ideas stagnate, businesses stop growing, people stop learning.”

Related: 5 Mindset Secrets to Achieve Your Goals Faster

If you find yourself feeling stuck in a fixed mindset, don’t blame yourself. Growing up, we are often taught to think in a risk-averse way, Branson explains. Consider how, in school, grades motivate most students more so than learning.

It’s time to change your mindset. But where do you start? Simple: Step out of your comfort zone. Pursue your ambitions, work with others, take any steps that will help you grow, and you will quickly see a change in the way you approach both business and life.

Edition: December 2016

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