Growth or stagnation - which side is your company on?

Business is up and running. Things are going up and up. Sales are increasing. Suddenly stagnation and the competition passes. There are serious financial problems and, in the worst case, even insolvency. Companies such as Kodak, Nokia or the traditional company Loewe are just a few examples of this development.

Many business owners are currently facing similar challenges. External influences are more massive than ever, and customers are more demanding than ever. Those who do not focus on growth and further development now will probably soon find themselves in the above list. Companies, owners and employees can no longer afford to sleep through or ignore trends. The attitude that "nothing can happen to us" should be thoroughly reconsidered. But many a company that wants growth fails because of its mindset. That's why we're now taking a closer look.

Success requires growth and the right mindset.

Fixed and Growth Mindset

Admittedly, the term Mindset has been used very inflationary the last years. The word has been overused by personal coaches, esotericists, online gurus, and so on. But that doesn't change the fact that growth is only possible with the right mindset. Motivational psychologist Carol Dwerk has been studying mindset for a long time. According to her theory, there are two types of mindset: the Fixed Mindset and the Growth Mindset. People with a Fixed Mindset assume that talents and abilities are given. If they are not good at something, they blame it on a lack of talent. People with this mindset tend to give up too quickly. They don't like to be challenged and don't want to fail. Failure or mistakes are seen as evidence of lack of talent in their eyes. They have the attitude that they cannot change anything. People with a Growth Mindset, on the other hand, assume that they can learn a lot or even everything. If they can't do something, they see it as a challenge to learn it. They want to improve and see failures as an opportunity to learn and grow. Growth in companies requires that both managers and employees live a Growth Mindset.

Growth requires people with a Growth Mindset.

Underdog beats favorites

The attitude: "We have and can do everything" often gets in the way of growth. Seeing oneself at the top and doing everything the way it has been done successfully so far is a big brake on growth. An example from sports is a good illustration of how quickly an unexpected event can occur. In soccer, for example, when two teams that at first glance appear to be unequal meet, the winner seems to be a foregone conclusion. But it is not unusual for the underdog to beat the favorite. This is not because they are the better team in terms of play. But the will, fighting spirit and team cohesion beat the certainty of victory.

Curiosity, can-do attitude and error culture

When it comes to growth, it's often not a question of if, but how. It is clear that development is necessary in order to still be successful tomorrow. First and foremost, this requires curiosity. Curiosity to look around the market and recognize trends. The willingness to think outside the box: How have other companies grown? In which areas can we develop? Where are we lagging behind? What will be needed in the future? What products and technologies do our customers want? The insights gathered must then flow into implementation. It's all well and good to know where growth is needed, but it must also be tackled. This is where the can-do attitude comes into play. To ensure that both this and curiosity contribute to development, companies are called upon to promote a culture of learning and making mistakes. Employees need to be able to get involved and should be given the space to experiment and come up with new ideas. It is now almost universally accepted that this adjusting screw needs to be turned. Shared values and goals, rituals and freedom for creativity help to promote innovation and increase efficiency. In addition, everyone in the company is called upon to take responsibility for growth.

Growth only succeeds together

One player alone usually does not decide the outcome. It's the same with growth: only when everyone in the company pulls together and continuously develops can victory be achieved. A growth mindset, curiosity and the mentality of really wanting to achieve growth are prerequisites for current and future success.

Growth is the result of everyone pulling together.

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