Why Mindset Matters for Success in Finance Professionals

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Why mindset matters for finance professionals

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By ApprovalMax

7 min read •

March 10, 2023

Have you ever considered the impact that your mindset can have on your success as a finance professional? It may seem small, but cultivating a positive mindset can make a big difference in how you approach challenges, opportunities, and setbacks in your work.

In the joint webinar “Primed for Success: Why Mindset Matters for You and Your Firm,” experts from ApprovalMax, Accountex, Dext, and Fathom delved into what a positive mindset is and how to cultivate it so that you get the most out of your professional output and development.

The experts cover the following topics:

How mindset affects your ability to work
The difference between a growth mindset and a fixed mindset
The best ways for individuals to create a strong, resilient mindset
The top strategies to build mindsets for success in your firm
How technology can help

Meet the experts

Kylie Wing

Chief Marketing Officer at ApprovalMax

“As a finance professional, you have to have a resilient mindset and mental grit to get through stressful times. The way you approach and analyse difficult situations hinges on your mental habits. Remember that your clients can pick up a lot from you – if you have a fixed mindset, that’s going to limit a lot of opportunities.”

Oriol Lopez

Advisory Founder representing Accountex Spain

Plan to think and reflect daily, speak with your best clients quarterly, and take action towards your goals every day

“As accountants, you should plan to think and reflect daily, speak with your best clients quarterly, and take action towards your goals every day. This will not only lead to a stronger mindset but also an improved ability to work. Start taking action and your mindset and ability to work will naturally follow.”

Geoff Baker

Global Head of Customer at Fathom

“With a growth mindset, you’ll understand that the technology you use will help you operate at scale. [At Fathom], we typically find that most of the hurdles for tech implementation are in people’s mindset, either thinking it’s too challenging or not knowing how to get started, and that’s the fixed mindset.”

Nattika Munro CA

Head Of Accounting Practice (APAC) at Dext

“It’s important to recognise if your firm is in a fixed or growth mindset. Embrace challenges and adopt technology to grow your capacity, learn from failures, and allow your team to do the same. By creating a culture of growth and learning, you open up opportunities for success.”

The power of a growth mindset for performance

Are you familiar with the difference between a growth mindset and a fixed mindset? A growth mindset is a belief that you can improve and develop your skills, knowledge, and abilities over time. On the other hand, a fixed mindset sees abilities, personality traits, and talents as set in stone and unchanging.

Your mindset can play a pivotal role in how you tackle challenges and handle success in the workplace. If you adopt a growth mindset, you’ll approach challenges with enthusiasm and see them as opportunities for growth and learning. However, if you have a fixed mindset, you may be more likely to give up when faced with difficulty and not see the value in growth and development.

In the webinar, the experts discuss how adopting a growth mindset can shift your focus, productivity, and overall enjoyment. It’s a simple but powerful tool for success in your work and personal life.

Tips for cultivating a positive mindset

Cultivating a positive mindset takes effort and practice, but it’s well worth it. Here are some key tips pulled from the webinar to help you get started:

Set achievable goals: Having specific and achievable goals can help keep you motivated and focused. Celebrating progress, no matter how small, builds motivation and confidence.

Focus on your strengths: Instead of dwelling on your weaknesses, focus on what you bring to the table and the value you bring to your work. Recognising your strengths helps build resilience and a sense of purpose.

Embrace challenges: View challenges as opportunities for growth and professional development, rather than obstacles. Every setback is a chance to learn and improve.

Create a supportive work environment: A supportive workplace culture, opportunities for recognition and feedback, and encouragement for growth and development can all help you maintain a positive mindset.

Utilise technology: From productivity tools to self-reflection apps, technology can support your growth and success by helping you stay organised, focused, and self-aware.

The difference your mindset makes

Embracing a positive mindset is a valuable tool for success in your work as a finance professional. By understanding the impact of mindset on performance and adopting practical strategies for fostering a strong, resilient mindset, you can increase your productivity, improve client relationships, and implement successful strategies to help you in every area of your professional development.

Start your mindset journey

Mindset is a powerful driver of success for finance professionals. By cultivating a growth-oriented mindset, adopting positive habits, and leveraging technology, you can open doors to resilience, innovation, and growth. Ready to take the next step? Reflect on your current mindset and consider areas where you can grow.

For more strategies and insights, watch the full webinar “Primed for Success: Why Mindset Matters for You and Your Firm.”

Approvalmax is an all-in-one B2B software platform used by businesses around the world to build robust AP and AR automation, creating multiple layers of internal control. It streamlines the approval process by allowing users to create automated workflows to approve bills and invoices. ApprovalMax integrates with accounting platforms such as Xero, QuickBooks Online, and Oracle NetSuite to unlock powerful efficiencies for accounts payable and accounts receivable functions in any finance team.