“Growth mindset” may sound like another piece of corporate jargon — a trendy phrase you either love or hate. But it’s far more than a buzzword. Coined by Dr. Carol Dweck after decades of research, the concept distinguishes between two perspectives:

• A fixed mindset says, “I’m either good at this, or I’m not.”
• A growth mindset says, “I’m not good at this yet.”

A pure growth mindset doesn’t exist, which we must acknowledge to attain the benefits we seek. The people who adopt this mindset believe that intelligence and ability can be developed over time. They understand their limitations, actively work to overcome them and trust that, with effort, they’ll improve.

A growth mindset is how you operate daily and how you manage failures and obstacles.

The Numbers Don’t Lie

Employees with a strong growth mindset are 50% more likely to think and act like an entrepreneur, displaying skills like innovation, risk taking and problem-solving, compared to those with a fixed mindset.

Another report by Talent LMS revealed that 80% of executives believe a growth mindset within their workforce directly contributes to higher profits. Even Microsoft, under Satya Nadella’s leadership, shifted its entire culture from “know-it-all” to “learn-it-all” — in doing so, the market value more than tripled.

When you embrace a growth mindset, you stop waiting for opportunities to find you. You create them. You build your own seat at the table. Your whole life revolves around “not yet,” because you see the possibilities of making things happen when others can’t.

But let’s move past the usual advice like “read more” or “network often,” let’s focus on actionable, measurable and habit-building ways to secure this mindset daily.

Practical Strategies to Cultivate a Growth Mindset

1. Embrace the Postmortem

Instead of glazing over past mistakes, analyze them like a case study:

• What went wrong?
• What assumptions did you make?
• What would you do differently?

This reflection rewires your brain to learn from mistakes instead of fearing them.

2. Stretch Yourself — Literally and Figuratively

Volunteer for projects outside your comfort zone. If you’re in training, add a new modality to your sessions. If you’re in leadership, try a public speaking class. The more you put yourself in uncomfortable situations, the more adaptable and innovative you become.

3. Let Limitations Spark Innovation

Some of the greatest ideas come from constraints. When Airbnb founders couldn’t afford rent, they turned their apartment into a lodging business. Netflix grew tired of Blockbuster’s exorbitant fees for late returns, so they launched rentals without late fees and later a successful streaming service. Instead of seeing constraints as setbacks, ask: What could we finish despite this obstacle?

4. Reframe “I Can’t” With “I Can’t … Yet”

Instead of saying, “I’m not good at public speaking,” say, “I’m not great at public speaking yet.” That small word insertion will rewire and reinforce a belief that will develop over time.

5. Make Feedback a Habit

Growth-minded individuals actively seek feedback from everyone. Seek out individuals who challenge you to think differently, who aren’t afraid to give constructive feedback. If you’re not asking for feedback, you’re missing an opportunity to accelerate growth.

6. Out of the Box Idea — Failure Parties

Host monthly “failure parties” where team members share something that didn’t work, what they learned and how it shaped their next move. I personally tried this with a team and their senior manager spoke first. We documented the failure, the lesson learnt and everyone’s responses to mitigate it. The team members rushed to share theirs since they realized they were safe and the behavior was modelled publicly. They now use the list as a form of training for their team.

If your team is not ready to go public, you can use anonymous submissions. Let someone read the failure aloud dramatically and get ready to cue the humor and humility.

Why Organizations Must Prioritize a Growth Mindset

Companies like Google and Netflix have transformed their hiring practices and performance evaluations, focusing on potential over pedigree. This allows employees to work through challenges, take more initiative, adapt faster and contribute meaningfully.

This does not have to only apply to Fortune 500 companies. Consultants, small businesses and nonprofits that build a growth mindset culture are more adaptable in the face of change and more creative when resources are limited. Right now, artificial intelligence (AI) automates tasks and learning agility is no longer optional, it’s survival.

Whether you’re a one-person team or leading a large global team, continuous learning is no longer a luxury. It’s your competitive edge. Organizations that fail to foster this culture risk falling behind. In contrast, those who embrace it will lead the future of work.

The Unfinished Business of Becoming Your Best Self

A growth mindset isn’t something you “achieve,” it’s a lifelong process. Every industry shift, new challenge and unexpected setback is an opportunity to strengthen it.

So, ask yourself: Will you let challenges define your limits, or will you let them redefine your journey into a growth mindset?