You’ve heard the phrase, “You are your own worst enemy.”

This can be true for many people. Stuck in scarcity mode, instead of embracing an abundance mindset, it’s hard to go after what you want in life. Patterns of negative self-talk like, “I’m not good enough” or “I can’t do that” hold you back from achievement.

What if you changed the record? 

Living in abundance means seeing the endless potential in yourself and others. When you expand your perspective and develop an abundance mindset, you can open your life up to limitless opportunities. 

This article will help you transform the fear and limited thinking of scarcity into positive messages that make you feel like you have what it takes — or that you will be able to figure out if you don’t.

Find out how to transform a scarcity mentality into an abundance mindset, and create the badass life you’ve been waiting for.

Originally published on September 28, 2020, this article was republished on May 13th, 2024.

What Is an Abundance Mindset?

An abundance mindset means to see the limitless potential in life. 

It means you can see the potential in yourself, and everyone around you. As a result, you intentionally drive yourself toward creating the life you want. 

When I think of an abundance mindset, I think of these key traits:

• Thinking big: People with an abundance mindset tend to think big, rather than limit themselves to a bird’s-eye view of their circumstances.
• Growth mindset: Living in abundance means having a growth mindset — the belief that you can improve your intelligence and skills with effort, and you aren’t stuck with what you have.
• Optimism: The “glass half full” type of person, focusing on what they have, rather than what they lack.
• Knowing there’s enough to go around: Abundance thinking means seeing a limitless amount of resources such as love, money, and success. In other words, someone else’s success or advantage does not take away from your own.
• Generosity of spirit: They feel genuinely happy for other people’s success, rather than resentful.
• Embracing change: They accept and embrace change, rather than resist.
• Taking action: They take a proactive approach to life, by seizing opportunities and working toward their goals. 
• Planning ahead: They plan for the future, rather than waiting around for things to happen. 
• An open mind: A person with an abundance mentality keeps an open mind and continues to learn, rather than believing they already know it all.
• Know their strengths (and weaknesses): They have identified their strengths, then used these qualities to go after what they want. They accept their shortcomings rather than being limited by them.

Scarcity vs Abundance Mindset

You never get beyond scarcity. You have to start beyond it.

Tony Robbins

This mentality confines individuals within walls of resentment, entitlement, stagnation, and victimhood. They see others’ success as their loss, leading to a cycle of negativity and isolation, and sabotaging their own goals by hoarding resources and competing instead of collaborating.

When you step outside of a scarcity mindset, you step into a world of endless possibilities. You realize your own strengths and develop them with confidence. You value yourself and, as a result, celebrate the value in others. When you want to see everyone succeed, you help others more readily. 

This is what’s known as an abundance mindset – seeing a world of endless possibilities. 

People with an abundance mindset develop their strengths confidently, value themselves, and celebrate the success of others, leading to a service-oriented attitude. This perspective fosters opportunities in all areas of life: career, relationships, family, and overall happiness.

Let me show you some concrete examples of how these two mindsets are different.

Imagine your company is growing and they put out some advertisements for recent job openings.

A scarcity mindset sees new job openings as a threat, leading to hoarding information and alienating colleagues, missing out on future opportunities. An abundance mindset, however, supports others, leading to mutual success and better networking.

In terms of money, a scarcity mindset fears financial insecurity, leading to tight money management and missed investment opportunities. An abundance mindset sees investment opportunities everywhere, fostering financial growth and the ability to share resources.

Why an Abundance Mindset Is Essential for Success

Successful people tend to have a growth mindset. 

Well-known psychologist, Dr. Carol Dweck, works as a researcher at Stanford University studying how self-conceptions drive human behavior. In her book, Mindset: The New Psychology of Success, she points out the two types of mindsets. Rather than a scarcity vs abundance mindset, she refers to them as a fixed mindset and a growth mindset. 

Dweck conducted a study of students. She found that those with a fixed mindset tend to:

• Try hard to appear more intelligent
• Believe they were born with a fixed level of intelligence
• Avoid looking dumb, out of fear of criticism 

Alternatively, people with a growth mindset tend to:

• Believe that through hard work and experience, they become smarter
• See the potential for personal development
• Challenge themselves to improve 

You can see how someone with a fixed mindset would get stuck in their current situation. After all, if your intelligence is fixed, what’s the point in putting in hard work to improve yourself? 

People with a growth mindset believe they have the potential to succeed. They accept challenges. They put in the time and effort to learn and build new skills. As a result, they welcome new avenues for success.

How to Grow an Abundance Mindset

Even if you have trouble believing in yourself now, you can still develop a growth mindset with practice. Try these abundance mindset exercises to nurture your own strengths and support others in positive ways.

1. Recognize and Accept Your Weaknesses

If you have a scarcity mentality, you may tend to ignore your flaws and live in denial. You wallow in self-pity and never take steps to improve yourself. You suppress your insecurities. This can result in unhealthy patterns, like self-destructive behavior or acting out on others.

Recognizing your weaknesses in a healthy, compassionate way, gives you the opportunity to learn and grow. Then, you can put yourself on a path of self-development.

Of course, you don’t want to focus on your weaknesses and let them hold you back. But having a true picture of yourself, you develop a sense of self-awareness in which you recognize, and even embrace your shortcomings in a healthy way.

2. Nurture Your Strengths

Everyone has their flaws. But we also have our strengths. When you identify your personal strengths, you can nurture those aspects of yourself and shine.

When you work hard at something you excel at, you will naturally succeed. Those achievements will help build inner confidence. You value yourself more. 

You don’t feel threatened by the strengths in others when you feel secure in your own skin. This way of thinking supports living in abundance, as you recognize that everyone has something to offer.

3. Visualize Your Potential

Visualization means to imagine a future event. You develop a mental picture of achieving a goal or of your ideal self. It may sound woo-woo, but in fact, research shows that visualization is a powerful tool for success. 

Russian scientists studied the link between visualization and success among a group of Olympic athletes. They split participants into four groups. Each took part in a different amount of mental training before competing, visualizing themselves crossing the finish line first, as follows:

• Group one: 100% physical training
• Group two: 75% physical training, 25% mental training
• Group three: 50% physical training, 50% mental training
• Group four: 25% physical training, 75% mental training

Researchers found that group four performed the best overall during the Olympics! 

In his book, Your Brain and Business: The Neuroscience of Great Leaders, Harvard psychiatrist Srinivasan S. Pillay found that visualization stimulates the same brain receptors as when you actually perform a task. Think of it as a way to trick your brain into thinking you achieved a goal, before you even do it. Then when you actually go to do something, like take a big exam or go for an important interview, your brain will function better and know what to look out for. 

To put this into practice, take some time out of your week to visualize what you want to achieve or the ideal version of yourself. Close your eyes or draw a picture of that event happening in your favor.

Ask yourself:

• What is possible?
• What could the most elegant and effective outcome look like?
• What would success look like?

Through visualization, you can imagine yourself living in abundance. Imagine yourself balancing your bank account, getting that promotion, or sharing a joyful home with your family. Dream big and trust yourself to achieve those dreams!

4. Recognize, Rewire, Repeat

Negative thought patterns like feelings of scarcity, tend to develop from a young age. They become habitual and second nature. Perhaps you were told that success, financial security, or love were possible for other people — but not for you. Or perhaps you have a lingering fear of not having enough, because you didn’t when you were young and dependent.

Of course these beliefs will be hard to shake in adulthood.

Try these abundance mindset exercises to transform thoughts of scarcity and train your brain to think positively:

Step 1: Recognize

Notice your inner dialogue. Pay attention to negative self-talk. It may help to take a week or two to log thought patterns. Each time you catch yourself in the scarcity mindset, write it down. You may notice certain situations or people that trigger those types of responses.

Step 2: Rewire

Now it’s time to replace the cycle of self-doubt with an abundance mindset. Transform negative statements into abundant thinking. Here are a few examples:

Scarcity mentality: “I don’t have enough time to accomplish what I want.”
Abundance mentality: “I will prioritize tasks with daily planning.”

Scarcity mentality: “I don’t have enough money to be happy.”
Abundance mentality: “I live within my means, look for new, creative ways to earn, and practice gratitude to appreciate what I have.”

Scarcity mentality: “I can’t do it.”
Abundance mentality: “I will leverage my strengths, work hard, and get better with time and effort.”

Step 3: Repeat

When you replace scarcity thoughts with an abundance mentality, you actually rewire your brain. As you make the habit of transforming negative self-talk into an abundance mindset, you will find yourself thinking this way naturally. An abundance outlook becomes second nature. 

Over time, you will no longer be swamped by limiting thoughts, and you won’t give up at the first sign of adversity. Instead, you will seek out learning experiences, welcome opportunities, and proactively look for ways to improve yourself and others. As a result, you will build a fuller life.

5. Donate and Volunteer

If you have a habit of thinking with a scarcity mindset, you tend to see one person’s gain as your loss. Alternatively, an abundance mentality understands the limitless resources available to all.

You can cultivate an abundance mindset by finding ways to give back to others. Activities like donating money or volunteering your time will get you into the habit of helping others, rather than hoarding resources to yourself. As an added bonus, scientists have found that regular acts of altruism also lead to greater happiness and overall well being.

Ready to Live an Abundant Life?

Changing the way you look at the world isn’t always easy. It may not happen overnight. Sometimes people get too caught up in their own heads and need an outside perspective to move forward in life.

In my work as a career coach, I apply fields like neuroscience and psychology to guide individuals to maximize personal and professional potential. I’ve gained insights on how to develop an abundance mindset. 

With the right support system, you can recognize and change thought patterns toward an abundance mindset. When you’re ready, we’re here to help!

The post Stop Fearing Scarcity: How to Create an Abundance Mindset appeared first on SoulSalt.