How Entrepreneurs can Squeeze the Best out of the Rest of 2024

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Sid Madge is kindly sharing his article on our blog today. Sid is founder of Meee (My Education Employment Enterprise), which draws on the best creativity and thinking from the worlds of branding, psychology, neuroscience, education and sociology, to help people achieve extraordinary lives.

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As entrepreneurs and start-up founders, we know that we need to put all our energy into squeezing the best out of the rest of 2024. We have the opportunity to create something better for everyone. We must demonstrate our entrepreneurial skills and adapt.

Let’s look at ideas to give you a boost in the right direction.

Embracing Your Innate Growth Mindset

Stanford psychologist Carol Dweck became obsessed with understanding how people cope with failures and setbacks. Initially her research looked at kids and how they reacted to puzzles they couldn’t solve. She thought that she would find different levels of resilience but what she actually found was that children, especially young children didn’t even consider not being able to solve the puzzle as a failure in the first place. It was just a game – a fun challenge.

The Outcome of Dweck’s research is now world famous and she proposes that our success and happiness in life comes down to one thing – mindset. According to Dweck there are only two – fixed and growth.

Those with a fixed mindset, have a fixed idea of what they are capable of, believing that what they are born with is the finish line. They tend to be more defeatist, accepting the problems without much effort or belief they can find solutions.

Those with a growth mindset believe that what we are born with is just the beginning. What we are capable of is not determined by anything other than our own aspirations, effort and determination.

Interestingly, Dweck believes we are all born with a growth mindset and get trained out of it by the school system, unsupportive parents and social expectations. We are taught that failure is unacceptable – even though all great success comes through failure, not by avoiding it.

Take a minute to consider whether you have a fixed or growth mindset? Looking at your startup and the rest of 2024 – what could you try? What have you always thought of doing but never got around to it? Lean into the uncertainty and adapt. Use it as a springboard to try things you’ve been putting off. Is there a different market you could approach? Stay flexible, open and curious.

Change Your Today to Change Your Tomorrow

What have you done today? Is that getting you closer or further way from your life goals and those you have for your startup? If you want a different tomorrow, you need to take steps to change what you do today.

Stop for a moment and reflect on how you spend your time. When did you get up this morning? Did you watch too much TV? How much time do you spend on social media? How much time do you spend learning something new? Do you spend time with family or friends? Are those exchanges enjoyable or stressful? How much time do you spend on your health? How much sleep do you get most nights?

Take a minute to draw a circle and divide it up into slices that represent how you spend your time during a typical day. Now draw another circle and divide it up to represent how you would like to spend your day. What could you change today in your startup or growth business to improve your day? ldentify the things you like or can live with and the things that you don’t like and can’t live with. How can you change the aspects of your day that bring you down?

Often, we don’t need to make wholesale sweeping changes: subtle little shifts accumulate to bring about change.

Post-Traumatic Growth

In 1967 psychiatrists Thomas Holmes and Richard Rahe developed a list of 47 stressful events that could impact health and happiness. The assumption is logical – we get more stressed when bad stuff happens to us. Start accumulating stressful experiences, such as a job loss, illness, or divorce and you are more susceptible to physical illness, disease, and depression. Global pandemics and economic uncertainty don’t help especially if you are in the early stages of your startup.

But, the fly in their theoretical ointment was the fact that not everyone who experienced really tough life events were negatively impacted by them. On the contrary, some of those people actively flourished. This field of study is called post traumatic growth or adversarial growth and studies have shown that great suffering or trauma can actually lead to huge positive change. For example, after the Madrid bombings of 2004 psychologists found that many of those affected experienced positive psychological growth. A diagnosis of cancer and subsequent recovery can also trigger positive growth.

The people in many of these studies found new meaning and new purpose from surviving something terrible. Instead of seeing their situation as a failure or a problem they believed Nietzsche, who said, “What doesn’t kill me makes me stronger”. As an entrepreneur, how can you use any failures in 2024 so far, to find new meaning and positive growth?

Take a minute to think about exactly what you are worried about most in your startup and identify one thing you can do about it right now. Set that in motion. What positives could you pull from the turmoil? Get creative – think of at least three positives that your past experiences can give you and your business. It might not be fun but if you can find the silver linings you can often move on quicker.

I’m a great believer in the power of micro moments and tiny interventions. These suggestions are pulled from my Meee in a Minute books, each offering 60 one-minute micro-ideas and insights that can help us to shift our perception in life, family and at work. It need only take a minute to make a change and get the very best out of the last few months of 2024 for you and your startup’s team.

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