via Jeff Busgang

I personally like the idea that we are all able to learn during our entire life, thanks to our family and private life, thanks to our social and business activities.

I am also convinced that it is extremely important to be able to change your goals (without being frustrated) and, at the same time, to be very resilient, which is totally antinomic :-) A question of balance perhaps.

Anyway, super food for thoughts from Jeff!

[…] If you aren’t facile at adjusting your goals, and they’re overly ambitious goals, it can lead to depression.

[…] As investors, we VCs are always attracted to entrepreneurs who set big, hairy audacious goals (BHAGs).  Who wants to invest in an entrepreneur whose pitch is, “I’m going to make a nice living in a small niche,” as opposed to, “I aspire to achieve world domination”?  Yet are those entrepreneurs more susceptible to depression and defeatism when they’re unable to achieve those outrageous BHAGs?

To reconcile these two views I am reminded of an excellent book I recently read by renowned Stanford psychologist Carol Dweck, called Mindset .  Dweck’s research shows that successful people in business, sports and life have “growth mindsets” rather than “fixed mindsets”.  The “growth mindset” is one in which a person believes that one’s world view is less about ability and more about lifelong learning.  “Growth mindset” individuals feel they can always learn from experiences (failures and successes) and develop resilience because they’re focused on personal growth rather than achievement tied to rigid objectives.  When a “growth mindset” individual faces adversity, they focus on the learnings and the self-improvement opportunities that come from adversity.

I have seen in my own work that the best entrepreneurs do set BHAGs, sometimes outrageous and unattainable ones (create a $100 million company in 5 years from scratch?  Is that really possible?), and push themselves to achieve excellence.  But the ones that really distinguish themselves are the ones who embrace the “growth mindset”.  They embrace life long learning, no matter how great their achievements, and allow themselves to occasionally hit the reset button and adjust their goals […]