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Moving from a Scarcity to an Abundance Mindset

Everyone likes stories so let us begin with one.

Two people were heavy competitors and sold boots. They wanted to expand their business and thought of selling it to a section of people. When they visited them, they noticed they were not wearing footwear. The first person decided not to invest here since they don’t use footwear, and the second person decided to invest and sell because they HAD no footwear. It is true when people say that the mind is everything. What you think is what you become. The second person went on to sell shoes to a significant amount of the population since they had none. His mindset made him feel that they had no shoes and he had plenty for everybody.

Understanding the scarcity and abundance mindset

A scarcity mindset is what keeps many of us from our goals. An abundance mindset refers to the paradigm that there is plenty out there for everybody. There are two ways to look at this. Research conducted by a Standford Psychologist, Carol Dweck, showed that mindset could make you a better student. She examined the mindset of students and found that children with a growth mindset perform better than those with a fixed mindset with predetermined intelligence.

A scarcity mindset is when a person sees life as a finite pie. If someone takes a big piece, they feel there is less for everyone else. In the corporate world, people are conditioned to have a scarcity mindset, especially when promotions and raises are scarce, resources are limited, and managers hoard information. Short-term thinking is the root cause here. Moving to an abundance mindset and realizing that there is plenty out there for everybody is key. Here are some ways to shift from a scarcity mindset to an abundance mentality.

Focus on what you have rather than what you want

Suppose you feel bored at your current job and think of a career change, but you’re having thoughts of uncertainty. Thoughts like “What if I don’t get a job?” “I don’t have skills needed,” or “There is too much competition out there” might demotivate you. This shows that you have been conditioned to a scarcity mentality. You tend to see limitations rather than an opportunity. Think about the talents you have, the skills you’ve nurtured, and the experiences you have gained instead. Think about the time you have in your hands now to consider the next step. Maybe you can reflect upon what you want to do in life in general.

Birds of the same feather flock together.

Do you see your glass as half-full or half-empty? Find people who are positive and see the glass half full. Start spending time with people who have an abundance mindset. You are a combination of the people around you. Attitude rubs off, and if scarcity-thinking individuals surround you, you must create some distance. Do you have fun and look up to the people you spend time with? If your answer is no, you might need to look for a better set of friends who will enable you to help achieve the life you aspire to live.

Try Creating Win-Win Situations

A scarcity mentality thinks that if one person wins, the other has to lose. This is true if you don’t consciously try for win-win situations. Try to create conditions where both parties win or accomplish something in some manner. Just a sense of accomplishment from either side can be good for a relationship in general. This can be practiced in both personal and professional life. Listen without judging and fully understand what a win-win means for you and the other person. Brainstorm till you find solutions that satisfy both of you.

Be Grateful

A quote by Oprah Winfrey is always a good word of advice:

“If you look at what you have in life, you’ll always have some more. Looking at what you don’t have in life, you will never have enough.”

When you feel grateful, it is not possible to feel sadness or fear. You can improve your well-being by practicing gratitude. Research conducted by Robert Emmons in 2007 showed that expressing gratitude improves mental and psychical well-being. Gratitude breeds happiness, and the effects tend to be long-lasting. Try writing down five things you love about your life in a diary every day. A gratitude journal can be your best friend. From something basic as fresh drinking water or your comfortable blanket, anything can make you feel grateful.

Recognize The Possibilities

Having an abundant lifestyle opens more doors for you, more options, choices, and way more resources. Focusing on one downfall can often cause you to be blind to many doors that may open up. Other possibilities can go unnoticed if you focus entirely on ONE particular thing. Create an expanded awareness. Questions like “If you had all the time and money in the world, what would you be doing?” can help you open up your mind to many possibilities. What you believe is what you get.

Seeing opportunity in places the untrained eye would miss is a skill everyone must master.

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