Article Image - Scarcity vs Abundance

Start living a life in its abounding fullness of joy and strength for mind, body, and soul.

We live in a very scary world. Many of us are afraid of ‘what’s to come.’ The uncertain future may seem grim and may cause a downward spiral,  increasing negative thoughts and impacting your actions. In business, or life in general, your mindset plays a vital role in determining your success and happiness. We have all heard that saying, “What you think, you become.” Fear and change might force us to think with a scarcity mentality, keeping us from exploring new opportunities and in turn hindering growth for the individual.

Your thinking, also referred to as your mentality, determines how you live your life. Changing your mentality from a scarcity mindset to a mindset of abundance, is truly possible. Let us take a look at the two mentalities.

What is the difference between Scarcity Mentality and Abundance Mentality?

The well-known author Stephen Covey said: “People with a scarcity mentality tend to see everything in terms of win or lose. There is only so much; and if someone else has it, that means there will be less for me. The more principle-centred we become, the more we develop an abundance mentality, the more we are genuinely happy for the successes, well-being, achievements, recognition, and good fortune of other people. We believe their success adds to…rather than detracts from…our lives.”

Infographic on Scarcity vs Abundance Mindset

How to shift from a mindset of scarcity to an abundance mentality?

“Those who have an abundance mindset are far more likely to be happy with their lives and to achieve their goals than are those who have a scarcity mindset,” said Mike Cernovich.

You have the power to change your mentality. Make a conscious decision to have an abundance mentality by implementing the steps below:

5 Steps to take to rid yourself of a scarcity mentality:

  1. Identify and analyse your mindset. Before you can do anything, you need to be very critical of your thoughts. Take notice and be mindful of what you are thinking in various situations. Do you have a scarcity mentality or an abundance mindset? Measure your thoughts with the table above in mind.
  2. Focus on, and work with, what you have. Let’s take the example of making a career change or applying for another job. You might think that you are too old to start your own business, for example. Rather than focusing on what you don’t have, focus on the positives that you do have. Focus on your years of experience, all your contacts and ability etc., and start working with that.
  3. Surround yourself with like-minded people. People who have an abundance mindset have positive attitudes, and positivity is contagious. Choose your peers well and surround yourself with people who will support and elevate you. Like-minded people will guide you, assist you, teach you and furthermore be happy for you when you succeed.
  4. Practice being grateful. Tony Robbins said: “When you are grateful, fear disappears, and abundance appears.” Try the following baby steps: when you wake-up in the morning, go around the house and voice all you are grateful for, even for the sun that came up; the fact that you have slippers on or can drink a cup of coffee etc. Practice this daily and you will see how being grateful changes the way you think and eventually rewires your outlook on life. Even Oprah said that “if you look at what you have in life, you will always have more. If you look at what you don’t have in life, you will never have enough.”
  5. Recognise possibilities and create win-win scenarios. Negative thoughts prevent you from spotting opportunities. It stops you from taking risks. Force yourself to acknowledge your resources and to open your mind to new possibilities. Don’t win just to let another person lose. Empower each other and focus on reaching common ground and create a solution where everyone benefits and where the other person’s win, becomes a win for you too.

“The key to abundance is meeting limited circumstances with unlimited thoughts,” – Marianne Williamson.

Abundance is defined as a very large quantity of something. Present in great quantity; more than adequate.  In terms of our lives, it signifies abounding fullness of joy and strength for mind, body, and soul. If you would like to change your mindset from a scarcity mentality to that of an abundance mentality, The Mindspa Institute offers an inspiring workshop called Abandon Yourself to Abundance. Attending this workshop will enable you to counteract your feelings of lacking, emptiness, and dissatisfaction.  It will explain the difference between living a life of “lack” versus living a life of “abundance.”  It will provide tools on what we should stop doing, what is holding us back and then give a practical menu for creating abundance, joy, and fulfilment in our work and personal lives.

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