A Tale of Two Mentalities Part One: Abundance vs. Scarcity Mentality in Your Professional Life

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In our current society, we see many people live in a life of limits.

People limit themselves financially by working jobs that are not paying well and they very likely hate.  People limit themselves in their relationships by settling for people who are either toxic, who are not pursuing a good life for themselves or who are simply not right for them.  They limit themselves in their hobbies by not making time to pursue their passions, something that provides joy in their lives and gives them the inspiration to live life to the fullest.

This life of limits is due to a belief that resources such as money, relationships and things leading to good health are scarce and incredibly difficult to attain. This is what is called a scarcity mentality and it drains our society of its life force in orders of magnitude every day.

Just go for walk someday and try to read the people that pass you by, you’ll notice a lot of people walking around with a miserable look on their faces.  They walk around without purpose or direction and feel as though they must resign themselves to a life that makes them miserable.  However, these people are anything but correct in having this thinking, they do not realize that they can live a life of purpose but it requires risk.

That is where the mentality of abundance comes in, where you believe that there will always be other opportunities if you quit the job you hate, where you believe that there are better people to hang out with if you leave toxic friends.  Where you pursue your hobbies and passions because you know that you will be able to provide for yourself somehow.

Tech entrepreneur Alex Becker talks about the mindset of abundance in his book The 10 Pillars of Wealth: Mind-Sets of the World’s Richest People and relates this mindset to both the dating world and business world.

In the dating world, Becker says that the men he used to coach would talk to women and act as though they were the last women on earth that they could talk to.  They put these women on pedestals and they were constantly in their heads and were awkward.  We could go on and on about this part of the abundance and scarcity mindsets but that will be for another time.

Anyway, Becker relates this back to business in that people who want to start a business fail to execute because they are scared.  They are afraid to fail, they are afraid to lose money and they are afraid of embarrassment and judgment.

Becker says that people who have the scarcity mindset believe that they only have x amount of money available to them and if they lose it that’s it. They believe that their external circumstances impact how much money they could make and that their current station in life is static, that there is no way in heck they could get out of their situation.

This is why people who are unsuccessful tend to stay in the position they are in and stagnate while people who are successful become rich, get richer and then continue on improving their lives. And if these people do not become rich, then they at least see enough success to improve their lives in some considerable way because they saw enough abundance to take the necessary risks to move forward in life.

That means people with abundance follow the second pillar of empowerment and never settle for a life that is not right for them.

They are willing to look for better jobs if their current one doesn’t suit them.

They are willing to ask for a promotion if they don’t like their position but love their company.

They are willing to start a business and smartly invest the start-up capital necessary to learn about their niche and then start it and grow it.

These are the people who take risks in their lives and are confident enough to believe that they are worthy of success, and no situation or person will impede them from it.

Because these people have an abundance mindset, they may feel discouraged by failure but will not let the discouragement get the best of them.

They will take failures and disappointments in stride and they will learn from them but will not internalize them.  I.E. just because I fail, does not make me a failure. It makes me a student.

So when you wake up every morning, I want you to test yourself and be completely honest about it: when I make a decision in life, am I making it out of a mindset of abundance or am I viewing my decision through the lens of scarcity.

If you are experiencing the former, then you know you will make the decisions necessary to set yourself up for success. And if those decisions are wrong, with a mindset of abundance you will be able to learn from the failure and not lose hope from it.

If you are experiencing the latter, then you must shift your mindset to abundance if you expect to be successful. For if you try something when thinking in scarcity, you will give up and run at the first sign of failure.  You will make excuses for yourself as to why your venture did not work out and why you should not try again.  These excuses will take on many forms and they are incredibly destructive.

Make sure that you are thinking in abundance, and check yourself and have trusted friends who also think in abundance check you as well. Those will be a more accurate metric for your mentality than yourself or people who think in scarcity.

 

4 thoughts on “A Tale of Two Mentalities Part One: Abundance vs. Scarcity Mentality in Your Professional Life

  1. The vast majority of people are miserable with their lot in life, especially professionally, yet in the main they are slow to do anything about it.
    I do believe that a balanced view of things, that includes the scarcity mindset, is necessary.
    This cautious thinking means that you’ll avoid taking unnecessary risks.

    1. That is a good point to make. It’s important to use common sense when you are making decisions in business and life in general. You don’t want to go to Vegas and blow your life savings because of an over-hyped mindset. But you do want to make sure that you are willing to spend a reasonable amount of money to grow your business and invest in money for training or programs to invest in yourself professionally.

  2. Boom! Nailed it, Zach. It took me a long time to get out of the scarcity mindset. In fact, I still battle it from time to time. I’ve read several books from different authors that talk about how the problem is we are taught and even programmed to think that way from our youth. It doesn’t start out that way. All of our guidance counselors in school will ask you to think about your career choices. Parents will ask, What do you want to be when you grow up? We dream. The sky is the limit. But then, almost overnight, it all changes and we jump into the scarcity mindset. Some people call it “reality”. But the fact is, there are many people living a completely different reality and they know something that the rest of us don’t. Are they smarter? Are they more talented? Or is it simply just a different drive and mindset? The more I continue to move forward in my personal journey I’m realizing it’s just a shift in thinking.

    Great article! Keep ’em coming!

    1. That’s awesome you’re realizing that. I too have been having an adjustment in thinking. Just a couple of months ago I would never have thought that I would be pursuing an online business because I thought it required massive amounts of capital. That was until I encountered YouTube personalities such as Alex Becker and Stefan James that I realized its all in the mindset. If you believe in yourself and take massive action, things will come. You just have to push forward and realize if one thing doesn’t work out, something else will if you stay persistent.

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