This exercise is designed to introduce business students to the concept of implicit theories, a foundational concept for individuals and organizations interested in developing more effective learners. This easy-to-implement exercise can be used in any type of management course, with any level of student; it is best positioned at the beginning of the semester. This exercise engages students cognitively and emotionally at the individual, team, and class levels. Personal reflection and storytelling are used to identify mindsets in practice. A brief video introduces content about mindsets via a shared experience. Small-group discussions facilitate peer teaching about mindsets in action. Class discussion is used to showcase meaningful stories, explore connections between student experiences and mindset concepts, and allow students to share how their thinking about learning has evolved. A reflection assignment helps students consolidate their learning.