Have you ever thought “we are too oversaturated with competitors,” only to watch a new business come in and take over the market by storm? Have you ever turned down an idea thinking that the time and resources it would take would be too great, only to give it a try down the line and find it’s not only doable but an asset to your business you wish you implemented earlier? Everyone has moments of scarcity thinking (that stalls progress) and moments of abundance thinking (that unlocks potential). It is important to be cognizant of your mindset when faced with a challenge or new idea to ensure scarcity rationality isn’t holding you or your organization back.

What is the difference between a scarcity mindset and an abundance mindset?

When someone comes to you with something to add to your plate (whether it’s learning a new skill, exploring a new idea, implementing a new revenue stream, etc.) is your initial gut reaction to say things like “we can’t…” “we don’t…” “I don’t know how…” “I’m not sure how we will do this…” If so, you may be struggling with a scarcity mindset. A scarcity mindset tells you there isn’t enough to go around – not enough money, not enough time, not enough resources, not enough team members or bandwidth, not enough customers, etc.
Mindset is a critical component of success, and it is easy to fall back into a pattern of thinking that focuses on what you don’t have, and the belief that there will never be enough resources to achieve your goals. Because of this, scarcity thinking can lead to a self-fulfilling prophecy when self-doubts limit your actions. Remind yourself that scarcity is just a feeling and may take effort and brain training to reach an abundance mindset.
An abundance mindset tells you there is more than enough to go around. There IS enough money to try something new that has the potential double your profits. There IS enough time to learn a new skill that can save you more time in the long run. There ARE enough customers to expand into a new space or product offering. When you choose to live on the path of abundance, you’ll think bigger, find the opportunity within every challenge, embrace change, be more proactive, and feel like you have plenty in your life.

How to shift your mindset

Remember what you think, you become. The first step of shifting your mindset is recognizing scarcity thoughts when you’re thinking them. Take notice of what is circulating through your head and take active steps towards squashing the negativity. When you find yourself stuck in a scarcity mindset, move towards abundance with phrases like “how can we?” and “what would happen if we HAD to do this?” to get through challenges. Abundance opens up your thoughts, opportunities and new ways of behavior to achieve something you didn’t think you could achieve. A scarcity mindset will have you believe that if one business wins, that means your business loses, but we know that is not the case. There is room for you to succeed with endless outcomes.
November is National Gratitude Month. While the upcoming holiday has you thinking about what you’re thankful for, practicing gratitude is also a powerful and widely recognized tool for creating abundance and happiness. Challenge yourself to grow in your level of abundance in every aspect of your life. You will be amazed what shows up when you change your mindset!
This month, I am offering a complimentary strategy session to show you how abundant your organization could be. Contact me today!