by Mawer Investment Management, via The Art of Boring Blog
Itâs a pleasant morning in Singapore as my wife and I head out the front door.
The taxi is waiting as we walk past our neighbour, Shelly, having breakfast on her patio. She smiles and waves. âGood luck, you two!â
Carla and I wave back as we climb into the cab.
Clearly intrigued, Shelly cranes her neck to watch us leave. Sheâs still waving with her coffee as we drive off for our annual retreat.
We donât normally make a big deal out of these, but Carla had mentioned to Shelly what we were up to. For our neighbour, this raised many questions. Sheâd heard of retreats, but why us? Whatâs involved? Does this mean thereâs trouble in paradise?
My wife laughed and explained to her that weâve been doing this for years and that sometimes our retreats are simply a coffee meeting where we set our direction and goals together. We do this as a couple to guide our relationship and we do it as parents to raise our children. Iâm fortunate that I also get to do this with my Mawer team members during our annual research team retreat. In each case, they are retreats with a common purposeâto improve everyoneâs chances for success.
Consider for a moment that corporations spend millions of dollars on coaching, leadership, and developing better communication among their people. Why do they do it? To build trust, collaborate, and create shared goalsâall of which serve to increase productivity. Just as excellent management teams are as efficient as possible with their companiesâ financial capital, they also want to get the most out of their people. But that investment is all for naught unless the participants recognize the value in coming together to openly discuss what theyâre doing, how theyâre doing it, and how to do it better.
To make the investment worthwhile, itâs important for all participants to have the right mindset going in. Carol Dweck, author of Mindset: The New Psychology of Success, distinguishes between the idea of a fixed mindset and a growth mindset. In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing it. They also tend to believe that talent alone creates successâwithout effort. But we think theyâre wrongâthis approach leads to stagnancy.
On the other hand, a growth mindset builds success through a conscious and deliberate effort to keep improving. As Dweck puts it âin a growth mindset, people believe that their most basic abilities can be developed through dedication and hard workâbrains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.â
As a couple, our success with an annual retreat has been overwhelmingly positive because we share this growth mindset. Together we have developed a number of programs that have improved our relationship and our family. For example, we created a set of family values to guide our parenting and life decisions. One of our values is âdo your best.â So if one of the kids isn't practicing the piano, it's not a slight against our childâitâs an opportunity to have a conversation so we can uphold the value system that we put into place. The framework, values, and ideas generated during our retreats all combine to support this very useful shorthand within the household, which everyone uses and understands.
Itâs very similar to the cultural shorthand weâve developed at Mawer. During our team retreats, we incorporate many of the same guiding principles that my wife and I practice during our coupleâs retreat. These include sharing visions, learning about each other, and creating clear objectives toward a common direction.
While thereâs certainly no one-size-fits-all framework when it comes to developing relationships or work culture, for those interested in pursuing their own retreat, hereâs a sample format that has worked for me:
Icebreaker (10 minutes)
- Come prepared to share your top 3 unique characteristics as a person
Personal Vision (20 minutes)
- Write down a summary of your desired state of life 10 years into the future
- Try to use present tense
- Describe all the things around you that make life wonderful
Break
Learning (15 minutes)
- e.g., Fixed vs. Growth Mindset: watch video and share your thoughts afterwards
- What can we learn from the two frameworks?
- How can we use the model at home?
Brainstorm Goals (15 minutes)
- Establish both short-term and long-term goals
- Pick out the common long-term goals from each vision
- Brainstorm what needs to be done in the next 12 months to move forward
This post was originally published at Mawer Investment Management