Mindsets for Success: Scarcity vs. Abundance

Winning Is Infinite, not Finite

In the intricate labyrinth of a professional career, our attitudes and beliefs can dramatically impact our trajectory, choices, and overall satisfaction. At the core of these mindsets are two opposing philosophies: the scarcity mindset and the abundance mindset.

The scarcity mindset is rooted in the belief that a limited amount of success, resources, or opportunities are available. This viewpoint can lead to competition, jealousy, and a sense of urgency in every decision, as one feels the need to “grab” what’s available before someone else does.

Conversely, the abundance mindset embraces the idea that there’s more than enough for everyone. It promotes collaboration, open sharing of ideas, and a belief in endless possibilities.

Scarcity vs. Abundance in Business Culture

In a corporate setting, the dominant mindset can dictate the overall business culture, significantly influencing decisions, collaborations, and innovations. A culture rooted in scarcity often operates from a place of fear, seeing competition everywhere and hesitating to share knowledge and resources. Such an environment can stifle innovation and breed mistrust among employees. Conversely, an abundance-driven business culture promotes open sharing and the belief that by helping others succeed, the whole organization benefits. Abundance thinking nurtures and instills a collective sense of purpose and value.

Case Example: Google

Google is a notable champion of an abundance mindset in the corporate world. The tech giant’s famous “20% time” policy, which allowed employees to spend 20% of their work time on projects they were passionate about outside of their regular tasks, is a testament to an abundance mentality. Google believed that giving employees freedom and trusting them with company time and resources would lead to happier employees and breakthrough innovations.

And they were right. This policy resulted in some of Google’s most successful products, like Gmail and AdSense. Instead of clinging to the fear that employees might waste time, Google embraced the belief that giving freedom would lead to an overflow of creativity and innovation. Their abundance mentality fostered an environment where employees felt valued, leading to increased loyalty, productivity, and groundbreaking solutions.

Dialogues: Scarcity vs. Abundance in the Workplace

Let’s look at how thinking shifts in scenarios with the two different mindsets.

Situation 1: A new project opportunity.

Scarcity Mindset: “I heard there’s a new project in the pipeline. I must ensure I’m chosen for it before someone else grabs the chance.”

Abundance Mindset: “There’s a new project coming up. Whether or not I’m chosen, I’m excited to see what I can learn from it and how I can contribute in other ways.”

Situation 2: A colleague receives a promotion.

Scarcity Mindset: “I can’t believe she got the promotion over me. There must’ve been some bias, or she has some connections.”

Abundance Mindset: “I’m happy for her. This promotion is an example of opportunities for growth in our organization. My turn will come.”

Situation 3: Sharing knowledge.

Scarcity Mindset: “I’d better not share all my strategies with the team. What if they outperform me?”

Abundance Mindset: “I can’t wait to share my strategies with the team. Together, we can achieve even greater results.”

Perspective from a Business Leader

Stephen R. Covey, in his renowned book “The 7 Habits of Highly Effective People,” has aptly described this phenomenon:

“Most people are deeply scripted in what I call the Scarcity Mentality. They see life as having only so much, as though there is only one pie out there. And if someone were to get a big piece of the pie, it would mean less for everybody else.”

In an abundance mindset, that pie can grow or there could be infinite number of pies; no matter how much pie another takes, it doesn’t diminish opportunities for others.

4 Ways to Strengthen Your Abundance Mindset

If you’re looking to shift from scarcity to abundance, here are some steps to foster this positive mental perspective:

1. Gratitude Journal: Start your day by jotting down three things you’re grateful for. A daily journal will help you focus on the positives and realize the abundance around you.
2. Celebrate Others’ Success: Instead of feeling threatened, take a moment to congratulate and genuinely celebrate with others. Celebrating wins tends to have a domino effect, leading to more wins for more people.
3. Lifelong Learning: Embrace learning as a continuous journey. New skills and abilities open the door to opportunities.
4. Reframe Your Thoughts: Challenge and reframe negative, scarcity-based thoughts to positive, abundance-driven ones. When we change our perspective, growth and opportunity become clearer and more achievable.

4 Books on the Abundance Mindset:

1. “The 7 Habits of Highly Effective People” by Stephen R. Covey

This classic self-help book elaborates on the concept of abundance versus scarcity mindset, especially in the “Win/Win” habit.

2. “Mindset: The New Psychology of Success” by Carol S. Dweck

While not exclusively about the abundance mindset, Dweck’s work on the “growth mindset” aligns closely with the principles of abundance thinking.

3. “Abundance: The Future Is Better Than You Think” by Peter H. Diamandis and Steven Kotler

This book explores how technology will lead to a future of abundance, breaking away from a scarcity-driven narrative.

4. “The Soul of Money: Transforming Your Relationship with Money and Life” by Lynne Twist

Twist delves into the mindsets of scarcity and abundance as they relate to money and our relationship with it.

Websites for Further Exploration:

Mindset Works provides resources to help cultivate a growth mindset, which complements the abundance mindset.

The Abundance Hub provides resources and articles focusing on creating an abundant life.

The Abundance Project offers tools and strategies to help people achieve greater abundance.

Everything to Gain

It’s essential to be happy for others when they achieve success. Acknowledging and celebrating their accomplishments shows that you care about them and their goals. Plus, it can inspire and motivate you to strive for your accomplishments. So, don’t hesitate to share the joy of those around you and tell them how happy you are for them.

In the end, our beliefs shape our actions. By adopting an abundance mindset, we uplift ourselves and create a more positive, collaborative, and growth-driven work environment.