What’s the number-one most valued asset that VCs look for in the entrepreneurs they fund? Surprisingly it’s not past success or even excellence in their chosen endeavor. Instead, investors look for the ability to grow and learn.
Psychologist Carol Dweck calls this ability to grow and learn the “growth mindset” and her research shows that this ability to learn from roadblocks, adapt to new situations, and come back from failure is a much higher predictor of success than even extremely competent people who have a fixed mindset and little capacity for change and growth.
Think about what you are trying to do: it’s audacious and largely unknown. The problems and opportunities you’ve run into are probably not ones you could have foreseen when you started. That’s why the ability to change with events is so important. And that’s why investors value the growth mindset so highly.
To see where you fall on the fixed vs. growth mindset spectrum, Carol Dweck has created a survey, which you can take now for free. It’s quick and illuminating. Take it now and see what you can learn.