Libman Tax - May 2019

The Power of ‘Mindset’ How Being Open to Growth Leads to Success

For decades, Dr. Carol S. Dweck studied the phenomena of success. How is it that some people are able to grow their business, stay fit, or achieve their personal goals while others in similar situations stall out? “Mindset” is Dr. Dweck’s answer to this question. Subtitled “The New Psychology of Success,” this book chronicles the Stanford psychologist’s findings, which suggest an inseparable link between belief and achievement. According to Dr. Dweck, people tend to think about the challenges in front of them in one of two ways. They either have a “fixed” mindset — believing that their talents and abilities are static, intrinsic properties of who they are — or a “growth” mindset — believing they can improve every aspect of themselves with practice and perseverance. Those who approach life's hurdles as an opportunity for growth are the ones who find long-term success. If you’ve ever said “I’m just not good at math” or “I’m not a natural leader,” you’ve fallen into the fixed mindset trap. If you believe there’s nothing you can do to change your circumstances, you’ll never strive to improve them. The same is true of positive fixed opinions of yourself. Dr. Dweck points out that those who believe

themselves to be “a great boss” or “an amazing athlete” are also doing themselves a disservice. Once you think your skills are tied to who you are as a person, you’ll avoid challenging them for fear they might be found wanting. This leads your talents to atrophy as you seek detours rather than facing challenges head-on.

Dr. Dweck argues that, instead of falling victim to the pessimism and self-delusion that defines fixed mindset thinking, we need to recognize that the path to success lies in open-minded perseverance. “A person’s true potential is unknown (and unknowable),” she says. “It’s impossible to foresee what can be accomplished with years of passion, toil, and training.” Not only does “Mindset” drive this point home with well-documented experiments and studies, but it also provides a workshop to help people break free of their fixed mindset and find success.

The Good Kind of Gossip

How to Cultivate Valuable Customer Reviews

When you’re thinking about buying a new product or service, what’s the first step you take? If you turn to the world wide web in search of reviews, then you’re in good company. According to a survey conducted by BrightLocal, 85 percent of consumers regard the customer review to be the single most credible and trustworthy source of advertising. That same survey found that 68 percent of customers surveyed were willing to provide feedback for the company. So, how do you get your customers to write the glowing reviews that help close deals? 1. DIVERSIFY YOUR PLATFORMS Don’t rely on customers to go to your website to leave reviews. There are numerous websites you can utilize that make leaving feedback more convenient for your clients. What’s more is that these other platforms are highly trafficked. BrightLocal found that Facebook and Yelp were consumers’ most trusted source of user reviews in the U.S., but you can also use Google My Business or the Better Business Bureau. Most importantly, be sure you are active on all the platforms you use.

2. OFFER INCENTIVES Give your clients a reason to write reviews. Consider offering incentives like a discount or coupon code, coffee gift card, or an entry to win a contest for an even bigger prize. 3. ASK THE RIGHT QUESTIONS Think of the review process as a conversation rather than a request to be met, and use open-ended questions to start. Before you even request a review, you can ask customers questions like “How was your recent experience with us?” or “How are you liking your product?” That way, you can gauge their satisfaction before they leave any feedback. 4. RESPOND, RESPOND, RESPOND The last thing you want to see is a scathing one-star review. But no matter how hard you work, they are still bound to happen. When you receive one, take the time to respond thoughtfully — without being defensive — and try to come up with a possible solution to the complaint. And be sure to respond to your positive reviews as well. When you show that you engage with all of your customers, prospective ones will be more likely to give you a shot.

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