When Donald Trump filed for bankruptcy in 1991 with nearly $4 billion in debt, people thought that that was the end of the real estate mogul.
But we all know that he eventually bounced back from the adversity and quickly rose to become, once again, one of the richest men in the world.
And today, his net worth stands at a mighty $4 billion (Source: Forbes).
Yet, we often hear of lottery winners who won obscene amounts of money, and still managed to lose everything (and even end up in debt) within a very short period of time.
No one knows for sure how many of those winners actually end up losing everything, and there have been reports of figures from a low of 33% to as high as 70%.
A $4 billion debt would drive most people crazy.
Why is it that some people, such as Donald Trump, are always able to overcome huge difficulties in life – problems that most of us can’t even dare to imagine.
But give an unexpected windfall on an average citizen, and there’s a higher chance that this person would manage to squander it all away.
There’s definitely something that these successful people have that most of us don’t.
Now, there are possibly an infinite number of factors that determine a person’s success. But there’re some that are more important than others.
Read any book, any interview, attend any seminar, and there’s one thing that everyone invariably talks about.
It’s all in your mind.
In her book Mindset: The New Psychology of Success, author Carol Dweck studied many of the most successful people in history.
And she found out that the people who managed to rise to the top, and more importantly, maintain at the top, all possess several unique traits about how they think.
She calls this the growth mindset. On the other hand, people who rarely achieve lasting success have what she calls a fixed mindset.
And anyone can adopt these growth mindset strategies if you want to succeed in life, in business, in school, and basically, anything you set your mind to.
1. On Intelligence
It’s quite surprising how many people still think that they’re born with a certain level of intelligence. (Intelligence in this case can refer to IQ, EQ, business acumen, etc.)
And it’s often those people who won’t do anything to try and improve themselves. So when they don’t improve they proudly declare that they were right.
As I’ve written it out explicitly like this, we can all see the real reason why those people aren’t improving, can’t we?
Successful people believe that intelligence, as with any skill, can – and must – be learnt. Warren Buffett wasn’t born with the knowledge of picking the best stocks.
2. On Challenges
As people with the fixed mindset believe that intelligence is fixed, they tend to avoid challenges that might be overwhelming for them.
However, successful people love challenges, because this is where they will stretch, grow and learn.
They place a lot of emphasis on the process, rather than just the end result. And ironically, they are the ones who usually end up with better results.
3. On Perseverance
Fixed mindset people give up easily.
They believe that intelligence is fixed, and if they’re naturally smart, they should be able to do any task effortlessly.
And when there’s a problem, they’re more likely to get defensive and start blaming others.
They tend to ignore negative feedback on their performance, even though they might help them improve.
People with the growth mindset persevere in the face of challenges.
They’re less concerned with the end result, and they tend to enjoy the process of achieving rather than having achieved.
They crave feedback on their performance, whether it’s positive or negative. And they actively seek out and learn from people who’re more skilled than them.
The bottom line
You have an almost unlimited potential.
You can become more creative, more successful, more charismatic, and richer than you ever imagined. But you need to stop thinking about it all the time.
Start enjoying the process and the journey, because it’s often more important and valuable than the destination itself.
And by doing so, you’ll more likely achieve what you set out to achieve in the first place.
Image Credits: pickthebrain.com