Scarcity Mindset versus Abundance Mindset
From a young age, we are told there are limited spots on the top. Whether it is to get on the sports team, get first place in class, or get into the best university. It is drilled there are limited spots that we need to compete for. This is the scarcity mindset where there are limited spots at the table and if my best friend gets there it means that I won’t get there. In a scarcity mindset there is the belief that there are limited resources to go around.
The abundance mindset on the other hand is there are unlimited spots on the table and with hard work and trying we can succeed. There is plenty of resources to go around for everyone (I do agree they are not distributed evenly.)
Using examples to explain the mindset
Just because I am trying to be a blogger it won’t impact me if you are trying to be a blogger. There is enough room, space, and viewers online that we both can survive.
We both will bring a different set of experiences and a unique personality to blogging. I can’t be you and you can’t be me. That is what makes us different and that’s why there is space for both of us.
So bloggers working together and helping each other out and sharing tactics can do better than a blogger working alone. The abundance mindset encourages collaboration.
This is in most career scenarios. We feel like we won’t be good enough and other people are better and we stay away from even trying. Because we have a scarcity mindset where we think there isn’t enough room for us to join. There is this thought in our mind saying oh she has better experience than me and gifts that I don’t have. This stops us from starting something new.
The scarcity mindset has put it in our heads that to achieve something great someone else has to lose out. But that is not true. For example, if women worked together we could reach new heights.
Let’s use Instagram influencers as an example – if I am an Instagram influencer and I join hands with another Instagram influencer I can reach a new pool of followers. This can be a win-win situation where working together can benefit. If instead, I choose not to be an Instagram influencer because I think there are so many people out there that is a scarcity mindset.
Having a scarcity mindset makes us see everyone as a competition and keeps us away from our dream. It keeps us away from working with others to achieve a common goal.
Scarcity Mindset quote
“People with a scarcity mentality tend to see everything in terms of win-lose. There is only so much; and if someone else has it, that means there will be less for me. The more principle-centered 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.” – Stephen Covey
Questions to ask yourself to change your mindset
- What mindset do you think you currently have?
- Write down 3 instances when you had a scarcity mindset. Now that you know more about the mindset what could you have said to yourself to have an abundance mindset.
- What is keeping you away from your dream?
- Will adopting the abundance mindset help you achieve your goals?
- Track your thoughts and when you notice you are having scarcity mindset thoughts talk to yourself. Give yourself a pep talk that there are enough spots for you at the table. Note down the change you see.
Reference: The 7 habits of Highly effective people