Your mindset is everything, and how you develop or train it can affect the course of your life, especially in your approach to learning, dealing with stress, and creating success. Now, two kinds of mindsets would react to this vignette. The abundance mindset and the scarcity mindset.

Imagine this vignette— your level of knowledge for either a promotion or employment, you had to work on a task. In the end, you failed the task, and you were very disappointed. What would you think? What would you feel? What would you do? This article will explain what the abundance mindset is and the benefit that comes with developing this kind of mindset.

What is the Abundance Mindset?

This mindset comes with the perspective that plenty is available for everyone, and there are limitless possibilities, enough resources, and success for everyone to enjoy and share. This growth mindset comes from a deep inner sense of worth, gratefulness, and security in your personal and professional life. 

Let me tell you something, beating yourself up for something that happens is common for anyone with any mindset. I mean, things like failing a task or an interview or getting snubbed by a friend or someone you love, aren’t fun events. Yet people with the growth mindset won’t label themselves and throw up their hands. 

Why Do We Want to Avoid the Scarcity Mindset?

The scarcity mindset sees things as being “not enough”, so people with this mindset believe that there’s only so much to go around. Or, there’s only one opportunity out there, and if someone else gets that opportunity first, that means they’ve lost. Someone with a scarcity mindset in that vignette would think like this: I’m a total failure, I feel worthless and dumb, everyone’s better than me, somebody upstairs doesn’t like me, nobody cares, life is unfair, and all efforts are useless, the world is out to get me. The scary part about this mindset is that at least one in every two individuals has this mindset. 

For most people, their first waking thought is “I didn’t get enough sleep”, the next one is “I don’t have enough time,” or, “Job interviews are super stressful, and there aren’t many jobs out there. So, If I don’t get this, I won’t ever get another shot!” And, whether that’s true or not, most of our precious time is spent on explaining, complaining, and worrying about what we’re  inadequate for, what we’re lacking, what we did not get done, what we’re losing and what we don’t possess at the moment. We burden our mind with those thoughts and wake up to the ripple effect of that negative mindset, which is another bad day.

Frequently Asked Questions

Why is having the abundance mindset important?

Having an abundance mindset practically shifts our perspective of things. It builds healthy ways of thinking and allows us to attract the things we want in our life by taking action based on motivation rather than fear. It also comforts us in knowing that there are more opportunities available while also giving us the space to be our best selves. 

How do I know I have an abundance mindset?

Although, having this mindset isn’t written on the forehead of someone. Nonetheless, there are many signs to show that you or someone else has an abundance mindset. A person with this mindset will

Never play snatch and grab – Knowing that there’s enough to go around, you wouldn’t find them panicking about the possibility of a job shortage.  If you don’t get the job or the task done well, you’re willing to share with others who may have the right skills to shoot their shot.

Genuinely celebrate others’ success – Having an abundance mentality means that you’re not under the influence of jealousy. You know that other people aren’t your competitors, and their success or promotions don’t affect your own. Plus, you’ll be only as successful or even more successful than others if your true goal is to be better than you were yesterday. 

Show gratitude and giving back – People with a growth mindset practice the art of giving. You see them investing their time, energy, and skills to see others grow. With this also comes the feeling of gratitude for what they have at the moment.

Take the driver’s seat – Abundance mentality comes with knowing that you take full responsibility for your actions. Life gives choices, but with an abundance mindset, you take control of your life by setting goals and objectives. Rather than laying around, waiting for things to happen, blaming others, your environment, or luck for any hardships you face.

Live in the present and go with the flow – An abundance mentality gives you the choice of not worrying about what has happened or what will happen. And, when something doesn’t go as planned, you don’t live in fear, get anxious, or freak out. 

How can I develop an abundance mindset?

Developing an abundance mindset or growth mindset is only a matter of time and effort, and it lies in our mindset shift. Here are a few ways to help you develop this mentality. 

Take responsibility.

Before you start exploring an abundance mindset, you need to remember to take full responsibility for your life. Nothing happens by luck, so understand that while things will happen that you can’t control, it’s your responsibility to deal with whatever will come up.

Change your perspective towards situations.

The way we see the problem is the problem, and one way to solve the problem is to change the way we see the world or circumstances. Self-reflect and become aware of your thoughts. Perceive, understand and interpret things positively, and stop being a card-carrying pessimist. 

Try gratitude, affirmations, and abundance Meditation.

Developing or shifting your mindset is hard, but gratitude, positive affirmation, and meditation can help. So, redirect your energy to the things you have by appreciating the good things you’ve achieved and the lessons you’ve learned along the way. If possible, make a list of positive affirmations and meditate on them. 

Reshuffle your circle.

Be around people with an abundance mindset and who support growth and advancement. Build a network that is as committed to the abundance mentality as you are. This way, you’ll attract the positivity, creativity, generosity, and organized attitude they exude, as their abundance mindset will feed your own and rub off on you.

Stop comparing yourself.

Look, it’s okay to admire what people have and to wish for better things, but you develop a scarcity mindset if you keep comparing yourself with other people. It might be difficult not to, especially these days, when people flaunt their successes and possessions. Nonetheless, see it as a win-win and a motivation booster.

Build a growth mindset.

With a growth mindset, you won’t get scared of the setbacks, the obstacles, or even the failures and rejections. A growth mindset gives you the power to improve and develop your abilities as you begin to crave new knowledge. So, build your curiosity, practice active listening and reflect on your ability to change and grow. 

11 benefits of having an abundance mindset

So, you may start to question yourself – What do I get from shifting to an abundance mindset? The benefit of having this mentality is enormous, and here are 11 benefits you’ll get.

1. You begin to understand that the world is becoming more abundant. 

This mindset allows you to create and maintain a vivid, hopeful, and compelling vision of your future. It’s no longer wishful thinking. Instead, it’s now: “I know it’s possible, so why not?” 

2. You don’t resent missed opportunities. 

Having understood that this world is full of endless opportunities and possibilities, you’ll stop worrying about failed plans and missed opportunities. Now, you know that the next day, the next week, the next month, and years come with bigger, better, and exciting opportunities for you to grab. 

3. You don’t fear the future. 

People with scarcity or fixed mindsets often fear the unknown. They already begin to fear the worst in the future before they even know what’s in store for them. With the abundance mindset, you embrace the future because you know that there’s plenty enough to go around so you can’t miss a chance. You became excited about the future and your professional development. 

4. You become a giver.

Since you know that there’s enough to go around, you give without even thinking twice because your mindset is like “I have enough to myself and more than enough to give out”. I’m not only talking about monetary giving. You can share your time, advice, and knowledge about something to help a colleague or even volunteer for service. There’s this ripple effect that comes with giving. The more you give, the more you receive, and you’ll also begin to notice how people are willing to give back to you.

5. You become happy for others.

With a growth mindset, you’ll start to understand that others’ success doesn’t diminish your success, and likewise, your success doesn’t cut short others’ success. This mindset will also make you see your competitors as potential collaborators in a world of ever-increasing business opportunities.

6. You become more appreciative. 

Mindset is everything, and the right one helps you become grateful for every little event you pass through. Abundance mentality also makes you fall in love with, and enjoy your life and work when you still have a lot going wrong. 

7. You begin to embrace change. 

Employees and leaders with an abundance mentality understand that change is an integral part of life, it’s constant, and if change doesn’t occur, growth isn’t happening. Hence, developing this mindset helps you become flexible to embrace and accept life changes. It’ll also help you become optimistic that these life changes will lead to more positive outcomes, even if the change is somewhat challenging to navigate.

8. You begin to be intentional about your choice of words. 

Leaders with a scarcity mindset always have something negative to say that can de-motivate someone. But having an abundance mindset, you tend to know what to say and when to say it because you understand that the language you use to yourself and others shapes your reality.

 Having an abundance mindset helps you say the right words that’ll inspire, maintain productivity, motivate, build confidence, and show that you value others around you. 

9. You develop a newer perspective towards problems. 

Abundance mentality shifts your perception from “this is bad” to “this is a lesson”. This mindset helps you do away with playing the victim role and having a negative perspective on situations and outcomes. Instead, with the abundance mindset, your daily focus is on what’s working and not what isn’t. 

10. You keep learning and developing yourself. 

People with the growth mindset keep on learning because they’re not worried about measuring up or trying to compete. They’re only interested in their growth – to be a better self than yesterday. 

11. You begin to take responsibility.

With a growth mindset, you start to plan for the future and create strategies for the long-term rather than waiting for things to happen and then reacting to an event with a scarcity mindset. You also know that your action determines the reaction you get, so it’s your responsibility to deal with whatever sneaks up on you. Hence, this mindset makes you more intentional about what you do and how you do it. 

To sum up,

An abundance mentality doesn’t remove your problems. It only puts them in perspective. The design of our mind is to help us survive, as it’s wired to operate out of a place of scarcity and fear. But, here’s the thing – you’ve been given the choice to positively change our perspective towards things using the abundance mindset. 

You may also want to read about How to Know if it’s Time for a Change.