Business

The Fixed Mindset vs. The Growth Mindset

Published

5 years ago

October 7, 2020

Sales is a tricky business to succeed at; anyone in the industry will tell you that the idea behind sales is much more difficult in execution than you might initially think. Being successful can be achieved, but these days there are so many different ways to be successful that it’s challenging to pick one road that works the best. Brandon Harris, the Sales VP at Otter PR, has a wealth of experience in sales and has pinpointed a major limiting factor for many sales groups. He’s seen both sides of this debate’s effects with multiple companies and has since been trying to educate the sales community on this very subject.

The Fixed Mindset versus the Growth Mindset is a rather interesting choice to make as both sides have their pros and cons; however, statistical evidence suggests the idea that one might perhaps more often yield results over the other. Before we discuss that, first, each mindset must be laid out and explained.

THE FIXED MINDSET

The Fixed Mindset is a more precise and secure state of mind and practice in sales. Often, this approach focuses heavily on what works rather than merely improving. It could be argued that it doesn’t tend to heavily involve the more personal influence of sales and the value of individual strengths and weaknesses. Fixed Mindsets tend to look at cold hard facts without considering the margin of error for these facts. More often than not, you’ll see examples of leaders in a Fixed Mindset being heavily focused on having a secondary education but perhaps less work experience.

In addition, the Fixed Mindset tends to have less belief & efficacy of their employees. There needs to be a detailed set of requirements met by each individual for them to be considered qualified, and the Fixed Mindset follows them to a near tee. Perhaps the most distinguishing feature of the Fixed Mindset is a risk-averse approach to sales. There isn’t much venturing outside of the formulaic nature of how it operates and, as a result, tends to yield low-risk based results.

This is not to say there’s no value in the Fixed Mindset; the Fixed approach doesn’t tend to err on the side of risk-taking. Depending on the individual industry, this could be a good thing as risk-reward analysis can be an invaluable tool for a sales group if the market is right for it. However, the fact remains that Fixed Mindset is a far more rigid approach to sales that is more circumstantial in the way of success.

THE GROWTH MINDSET

The Growth Mindset is a more fluid approach to sales. The idea involves more risk-taking, but also more results-based decision-making. The belief that employees’ records show more of their capabilities than what they look like through the traditional ‘on paper’ lens. The Growth Mindset takes the time to teach the employees and future leaders instead of going out of business to seek new members to fill those roles.

It is a mindset heavy in the investment of existing company members rather than investing in new members who might not perform according to specifications. A growth mindset is frequently one that takes a more direct look at employees under the umbrella of the company and invests in those who have yielded the most results or show the most promise and teach them how to fill the roles they’re expected to occupy rather than leaving them at where they are already excelling.

This mindset has a far less rigid approach, focusing heavily on promoting and using resources to invest in their team. This grants employees more efficiency and empowerment to make the right decisions for the company and their department as a whole.

WHY DOES IT MATTER?

Harris believes that these two mindsets, while both yield some semblance of benefits, have a superior mix. He believes that the growth mindset is far more lucrative for the future of sales as it promotes a more genuine approach to sales and goes based on performance rather than what employees look like on paper. The risk-taking involved in Growth Mindset is also something that can be attributed to further success for companies who choose the Growth Mindset and take educated risks.

These decisions ultimately help the health of the company and the sales industry at large as they help set the precedent of the growth mindset as the norm. It creates a more lucrative business in terms of the revenue, and the health of the sales industry is evolving with the changing times. Whether it’s practiced effectively or not across the board, the future of sales is the growth mindset.

As leaders in the sales industry, it is your responsibility to ensure that these are things that are taken account of when in the process of moving forward with large decisions. These individual mindsets must be chosen carefully and with a great deal of thought beforehand, and if it is not done successfully it can be detrimental to the health of the company’s success.

Business

High Volume, High Value: The Business Logic Behind Black Banx’s Growth

Published

6 days ago

June 16, 2025

Matthew Wiles

In fintech, success no longer hinges on legacy prestige or brick-and-mortar branches—it’s about speed, scale, and precision. Black Banx, under the leadership of founder and CEO Michael Gastauer, has exemplified this model, turning its high-volume approach into high-value results.

The company’s Q1 2025 performance tells the story: $1.6 billion in pre-tax profit, $4.3 billion in revenue, and 9 million new customers added, bringing its total customer base to 78 million across 180+ countries.

But behind the numbers lies a carefully calibrated business model built for exponential growth. Here’s how Black Banx’s strategy of scale is redefining what profitable banking looks like in the digital age.

Scaling at Speed: Why Volume Matters

Unlike traditional banks, which often focus on deepening relationships with a limited set of customers, Black Banx thrives on breadth and transactional frequency. Its digital infrastructure supports onboarding millions of users instantly, with zero physical presence required. Customers can open accounts within minutes and transact across 28 fiat currencies and 2 cryptocurrencies (Bitcoin and Ethereum) from anywhere in the world.

Each customer interaction—whether it’s a cross-border transfer, crypto exchange, or FX transaction—feeds directly into Black Banx’s revenue engine. At scale, these micro-interactions yield macro results.

Real-Time, Global Payments at the Core

One of Black Banx’s most powerful value propositions is real-time cross-border payments. By enabling instant fund transfers across currencies and countries, the platform removes the frictions associated with SWIFT-based systems and legacy banking networks.

This service, used by individuals and businesses alike, generates:

Volume-based revenue from transaction fees
Exchange spreads on currency conversion
Premium service income from business clients managing international payroll or vendor payments

With operations in underserved regions like Africa, South Asia, and Latin America, Black Banx is not only increasing volume—it’s tapping into fast-growing financial ecosystems overlooked by legacy banks.

The Flywheel Effect of Crypto Integration

Crypto capabilities have added another dimension to the company’s high-volume model. As of Q1 2025, 20% of all Black Banx transactions involved cryptocurrency, including:

Crypto-to-fiat and fiat-to-crypto exchanges
Crypto deposits and withdrawals
Payments using Bitcoin or Ethereum

The crypto integration attracts both retail users and blockchain-native businesses, enabling them to:

Access traditional banking rails
Convert assets seamlessly
Operate with lower transaction fees than those found in standard financial systems

By being one of the few regulated platforms offering full banking and crypto support, Black Banx is monetizing the convergence of two financial worlds.

Optimized for Operational Efficiency

High volume is only profitable when costs are contained—and Black Banx has engineered its operations to be lean from day one. With a cost-to-income ratio of just 63% in Q1 2025, it operates significantly more efficiently than most global banks.

Key enablers of this cost efficiency include:

AI-driven compliance and customer support
Cloud-native architecture
Automated onboarding and KYC processes
Digital-only servicing without expensive physical infrastructure

The outcome is a platform that not only scales, but does so without sacrificing margin—each new customer contributes to profit rather than diluting it.

Business Clients: The Value Multiplier

While Black Banx’s massive customer base is largely consumer-driven, its business clients are high-value accelerators. From SMEs and startups to crypto firms and global freelancers, businesses use Black Banx for:

International transactions
Multi-currency payroll
Crypto-fiat settlements
Supplier payments and invoicing

These clients tend to:

Transact more frequently
Use a broader range of services
Generate significantly higher revenue per user

Moreover, Black Banx’s API integrations and tailored enterprise solutions lock in these clients for the long term, reinforcing predictable and scalable growth.

Monetizing the Ecosystem, Not Just the Account

The genius of Black Banx’s model is that it monetizes not just accounts, but entire customer journeys. A user might:

Onboard in minutes
Deposit funds from a crypto wallet
Exchange currencies
Pay an overseas vendor
Withdraw to a local bank account

Each of these actions touches a different monetization lever—FX spread, transaction fee, crypto conversion, or premium service charge. With 78 million customers doing variations of this at global scale, the cumulative financial impact becomes immense.

Strategic Expansion, Not Blind Growth

Unlike many fintechs that chase customer acquisition without a clear monetization path, Black Banx aligns its growth with strategic market opportunities. Its expansion into underbanked and high-demand markets ensures that:

Customer acquisition costs stay low
Services meet genuine needs (e.g., cross-border income, crypto access)
Revenue per user grows over time

It’s not just about acquiring more customers—it’s about acquiring the right customers, in the right markets, with the right needs.

The Future Belongs to Scalable Banking

Black Banx’s ability to transform high-volume engagement into high-value profitability is more than just a fintech success—it’s a signal of what the future of banking looks like. In a world where agility, efficiency, and inclusion define competitive advantage, Black Banx has created a blueprint for digital banking dominance.

With $1.6 billion in quarterly profit, nearly 80 million users, and services that span the globe and the blockchain, the company is no longer just scaling—it’s compounding. Each new user, each transaction, and each feature builds upon the last.

This is not the story of a bank growing.

This is the story of a bank accelerating.