Do You Have An Abundance Mindset?

Abundance mindset versus scarcity mindset

The Origins

Stephen Covey coined the term abundance mindset in his 1989 best-seller, The Seven Habits of Highly Effective People. Since then, there have been multiple interpretations and variations of the concept and how it can apply to life and business.

This is my definition of scarcity and abundance mindsets based on my learnings and lived experiences.

A scarcity mindset

A scarcity mindset is self-centered. It starts with ‘I’ and finishes with ‘me.’ That’s the only player that counts. Others are seen as accessories to your own success and end goals.

It drowns in failure. Failing is seen as embarrassing, a sign of weakness, and is often disguised as an excuse. A scarcity mindset doesn’t see beyond loss.

The pie is finite. Whether it’s opportunities, jobs, or experiences, a scarcity mindset becomes selfish and greedy because it believes resources are limited, and giving a piece of the pie to someone else reduces the whole. Giving is conditioned to taking. There has to be a quid pro quo and a guarantee of reciprocity.

Competition becomes a threat because competitors can take your pie, opportunity, or idea. Less is more, none is best.

A scarcity mindset sees the glass half empty. Challenges become excuses, and obstacles become justifications. It speaks the ‘no but’ language.

An abundance mindset

An abundance mindset is always looking for win-win situations because partnerships have to benefit both parties to be sustainable.

It grows from failures as it focuses on the learnings and the mistakes along the way. It comes from a place of vulnerability where perfection is an ideal and action equals progress.

The pie becomes infinite because you can create new pies in different shapes and flavors if you know the ingredients and the recipe. The sum is larger than its parts.

An abundance mindset is inspired by competition and inspects it closely to learn from others and fuel motivation. If someone has a great idea, you give credit and aim to improve it.

Competition feeds excellence and excellence feeds the soul.

An abundance mindset is pragmatic about challenges and doesn’t focus on the obstacle but obsesses with the solution. Where others see mountains, it sees tunnels; where others see barriers, it sees bridges. It speaks a ‘yes, and’ language.

Your Mind, Your Choice

Every morning you make a choice when you wake up. You decide how you want to show up and what mindset you want to lead with.

It’s up to you to control your mindset and decide what story you want to tell the world but, more importantly, what story you want to tell yourself.

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If you are interested in reading the first chapter of my ebook The Lemon Tree Mindset: 19 Lessons To Reinvent Yourself, you can click here.