{"id":70944,"date":"2023-07-18T12:25:37","date_gmt":"2023-07-18T10:25:37","guid":{"rendered":"https:\/\/www.sage.com\/en-za\/blog\/?p=70944"},"modified":"2026-01-29T14:15:08","modified_gmt":"2026-01-29T12:15:08","slug":"change-your-mindset-grow-your-business","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-za\/blog\/change-your-mindset-grow-your-business\/","title":{"rendered":"How to change your mindset and grow your business"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/category\/growth-customers\/\" class=\"entry-header__link\">Growth &amp; Customers<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tHow to change your mindset and grow your business\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2023-07-18T12:25:37+02:00\">July 18, 2023<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"How to change your mindset and grow your business\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-za\/blog\/change-your-mindset-grow-your-business\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-za\/blog\/author\/ryangrundy\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/05\/Ryan-Grundy.jpg\" class=\"entry-author__image\" alt=\"\" \/>\t\t\t\t<span class=\"entry-author__name\">Ryan Grundy<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p>If you\u2019re the owner of a business, the path to profitability starts with you.<\/p>\n\n\n\n<p>Why?<\/p>\n\n\n\n<p>Because every element of your company\u2014whether you\u2019re flying solo or leading a team\u2014is influenced by your beliefs, attitudes and actions.<\/p>\n\n\n\n<p>Think negatively and you create self-imposed limitations.<\/p>\n\n\n\n<p>Think positively and you create opportunities.<\/p>\n\n\n\n<p>So, what practical steps can you take to change the way you think and drive more profitability in your business?<\/p>\n\n\n\n<p>It\u2019s time to develop a growth mindset.<\/p>\n\n\n\n<p>In this article, we cover:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#what\">What is a growth mindset?<\/a><\/li>\n\n\n\n<li><a href=\"#why\">Why mindset matters<\/a><\/li>\n\n\n\n<li><a href=\"#how\">How to start developing a growth mindset<\/a><\/li>\n\n\n\n<li><a href=\"#to\">What to do next<\/a><\/li>\n\n\n\n<li><a href=\"#final\">Final thoughts<\/a><\/li>\n<\/ul>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what\">What is a growth mindset?<\/h2>\n\n\n\n<p>A growth mindset is the belief that abilities and intelligence are things that can be developed rather than fixed, innate gifts.<\/p>\n\n\n\n<p>Those with a growth mindset achieve more by pursuing continuous learning, collaborating with others, and being willing to take risks.<\/p>\n\n\n\n<p>With a growth mindset, you understand that failures are necessary, hardship and setbacks are inevitable, and persistence will keep you moving forward.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why\">Why mindset matters<\/h2>\n\n\n\n<p>The people in your business look to you for leadership, direction and decision making.<\/p>\n\n\n\n<p>What you think and the resulting actions you take ripple throughout your teams and drives how profitable your business can become.<\/p>\n\n\n\n<p>Think of it this way:<\/p>\n\n\n\n<p>In challenging times, many businesses go on the defensive. They scale back ambitions for growth and prioritise short-term revenue over long-term profitability.<\/p>\n\n\n\n<p>An owner with this mindset rationalises their decisions as \u2018playing it safe\u2019. But really, they\u2019re operating on fear.<\/p>\n\n\n\n<p>Those with a positive mindset defiantly stay on the offensive, doubling down their efforts and investments into growth.<\/p>\n\n\n\n<p>Inevitably, these businesses come out of tough times in a much stronger position.<\/p>\n\n\n\n<p>James Ashford, VP of GoProposal, illustrated this on our <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/sound-advice-recession-proof-business-james-ashford\/\">Sound Advice podcast<\/a>:<\/p>\n\n\n\n<p>\u201cHave you seen Forrest Gump? You know when they\u2019re on the boat and the storm comes? And they choose to go into the storm? That boat was built for a storm.<\/p>\n\n\n\n<p>\u201cAnd your business has got to be built for a storm.<\/p>\n\n\n\n<p>\u201cIf you\u2019re retracting, recessing and cutting costs, you\u2019re essentially tying yourself to the rocks. And all those boats that tied themselves to the rocks got smashed.<\/p>\n\n\n\n<p>\u201cThe only one that survived was the one that took the storm head on. That\u2019s what we need to do\u2014strengthen our boats and go for it.\u201d<\/p>\n\n\n\n<p>To acknowledge the impact of your mindset is to accept personal responsibility for any outcome your business encounters.<\/p>\n\n\n\n<p>If your business folds in a recession, you played a role in that. Same goes if it doubles in size.<\/p>\n\n\n\n<p>So, it\u2019s clear that having a growth mindset really matters.<\/p>\n\n\n\n<p>Without it, there are endless reasons your otherwise-bullet-proof strategy might fail.<\/p>\n\n\n\n<p>With it, you will:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>View challenges as markers for improvement and will be motivated to push boundaries, uncover innovative solutions, and adapt more quickly to market shifts.<\/li>\n\n\n\n<li>Be more resilient to sudden and unexpected adversity, be able to bounce back from setbacks, learn from every failure, and stay motivated to keep making progress.<\/li>\n\n\n\n<li>Develop a thirst for knowledge and improvement for you and your teams, always looking out for new information, developing skills, and staying at the forefront of innovation.<\/li>\n\n\n\n<li>Be open to embracing new technologies, innovative strategies, and unique business models that will help you compete with much larger businesses.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how\">How to start developing a growth mindset<\/h2>\n\n\n\n<p>The advantages of having a growth mindset are clear, and the opportunities your business could unlock are limitless.<\/p>\n\n\n\n<p>But, as with most matters related to your mind, making a change is easier said than done.<\/p>\n\n\n\n<p>You won\u2019t develop this mindset overnight. But you can take practical steps that will put you on course to a new, bolder, and more resilient way of thinking.<\/p>\n\n\n\n<p>Here are three ways to start evolving:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Put your health first<\/h3>\n\n\n\n<p>Your health isn\u2019t optional. It should be your biggest priority.<\/p>\n\n\n\n<p>Without it, you can\u2019t perform at your best and support others that need you. And you certainly can\u2019t do what it takes to grow profitability.<\/p>\n\n\n\n<p>You have to put yourself first, and you don\u2019t need to feel guilty about doing so. James points out why so many of us tend to neglect this.<\/p>\n\n\n\n<p>He says: \u201cThe reason you don\u2019t find time to focus on your health is because it hasn\u2019t been prioritised. It needs to be number one.<\/p>\n\n\n\n<p>\u201cYou need to be spending 30 minutes to an hour a day getting your body moving. It doesn\u2019t have to be anything crazy. It can be as simple as going for a walk.\u201d<\/p>\n\n\n\n<p>Prioritising your health doesn\u2019t just mean your body either. Your mental health is equally important.<\/p>\n\n\n\n<p>A few ways to protect your mental health:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Stop watching the news.<\/li>\n\n\n\n<li>Add blocks of free time in your calendar to ensure you take regular breaks and aren\u2019t in meetings all the time.<\/li>\n\n\n\n<li>Focus on improving productivity so that you have more time for yourself.<\/li>\n\n\n\n<li>Reduce the time you spend with negative people.<\/li>\n\n\n\n<li>Protect your work-life balance by setting immovable boundaries.<\/li>\n\n\n\n<li>Develop gratitude and help others in need when you can.<\/li>\n\n\n\n<li>Use tools such as therapy, meditation, and breathing exercises to manage stress.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2. Take control of your growth<\/h3>\n\n\n\n<p>Growth doesn\u2019t just happen. You have to make it happen.<\/p>\n\n\n\n<p>Whether it\u2019s via audiobooks, YouTube videos, podcasts, or courses, there are limitless ways you can become better, more positive, and smarter.<\/p>\n\n\n\n<p>It doesn\u2019t just have to be learning, either.<\/p>\n\n\n\n<p>You could spend time reflecting on your business, work on developing your processes, or meet regularly with your team to discuss what they need to do their best work.<\/p>\n\n\n\n<p>Dedicate as little as 30 minutes a day to this and you\u2019ll make consistent progress towards making your business more profitable.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Aim high\u2014it\u2019s OK to fail<\/h3>\n\n\n\n<p>In tough times, many businesses lower their targets. They think that the additional challenges mean their usual level simply can\u2019t be hit.<\/p>\n\n\n\n<p>Instead, you should aim even higher than you usually would. Once you realise that it\u2019s OK to aim high and fail, you\u2019ll achieve great things\u2014even if you don\u2019t reach your targets.<\/p>\n\n\n\n<p>In an extreme example, you can set a goal that seems ridiculous.<\/p>\n\n\n\n<p>Let\u2019s say, double your fees over the next 12 months.<\/p>\n\n\n\n<p>Even if you only managed a 20% increase, you\u2019d still have created more profitability than if you\u2019d set a negative goal, such as reducing prices to retain clients.<\/p>\n\n\n\n<p>Put these actions into practice and you\u2019ll start to think differently over time. You\u2019ll see a noticeable difference in yourself, and the way people respond and interact with you.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"to\">What to do next<\/h2>\n\n\n\n<p>Developing a growth mindset can be the catalyst to making your business more productive, profitable, and resilient.<\/p>\n\n\n\n<p>Once you\u2019ve made some progress in this area, you can start to build on your mindset with more outwardly focused actions.<\/p>\n\n\n\n<p>In our e-book, <a href=\"https:\/\/www.sage.com\/en-gb\/sage-business-cloud\/accounting\/manage-your-time-and-profit\/\">Mind over minutes<\/a>, we have two more stages to keeping profitability on track:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Building a productive growth culture<\/strong>: How to embed growth and productivity into your culture, and empower your people to achieve more, perform better, and get more work satisfaction.<\/li>\n\n\n\n<li><strong>Activate your growth strategy with tech<\/strong>: How to collaborate with your team to devise the right plans and implement the tools that will bring your growth ambitions to life.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final\">Final thoughts<\/h2>\n\n\n\n<p>Tough weeks, months, and years are guaranteed for every business. What matters most is how you choose to think.<\/p>\n\n\n\n<p>This will ultimately drive your actions, influence those around you, and lead to real-world outcomes for your business.<\/p>\n\n\n\n<p>To keep profitability on track, start with a growth mindset. Then watch new opportunities rise to the surface.<\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice enewsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-84fe79b5-668d-41f8-a0cc-6229018c4ac9\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Did you know developing a growth mindset can help you in your bid to grow your business? Here&#8217;s how you can do it.<\/p>\n","protected":false},"author":1398,"featured_media":70629,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[24,26],"tags":[166,316],"business_type":[2],"lilypad":[],"context":[],"industry":[],"persona":[],"imagine_tag":[],"coauthors":[404],"class_list":["post-70944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth-customers","category-people-leadership","tag-business-management","tag-business-strategy","business_type-small-business"],"sage_meta":{"region":"en-za","author_name":"Ryan Grundy","featured_image":"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/02\/GettyImages-594827587.jpg","imagine_tags":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice South Africa","distributor_original_site_url":"https:\/\/www.sage.com\/en-za\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts\/70944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/users\/1398"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/comments?post=70944"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts\/70944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/media\/70629"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/media?parent=70944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/categories?post=70944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/tags?post=70944"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/business_type?post=70944"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/lilypad?post=70944"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/context?post=70944"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/industry?post=70944"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/persona?post=70944"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/imagine_tag?post=70944"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/coauthors?post=70944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}