“An abundance mentality springs from internal security, not from external rankings, comparisons, opinions, possessions, or associations.”- Stephen Covey

It is true that your mindset can drastically affect the outcome of something and can change your life. It’s often been proven that your mindset, or the way you think about yourself and the world around you, can change the way you approach learning, how you handle stress or unforeseen circumstances. It can affect how you go after success or how resilient you are. It can even affect how your immune system performs.

In 1988 Stephen Covey, in his book The Seven Habits of Highly Effective People, coined the term abundance mindset. It defines the “concept in which a person believes there are enough resources and successes to share with others.” Unfortunately, not everyone adopts or has this frame of mind. These people have what is termed as a scarcity mentality.

Scarcity is the opposite of abundance. Knowing which one you react from can mean the difference in how you look at  your life and what you have in your life.

The scarcity mentality is when someone believes that if someone else wins, you automatically lose. 

Having an abundant mindset means you see the world as having an infinite number of possibilities, a world filled with opportunities.

When you live from a place of abundance, you feel gratitude for what you already have, are aware and constantly pursuing new opportunities in every area of your life and give to others freely.

Those who live with a scarcity mentality can change if they are willing. Throughout this series there are tips on how you can develop an abundance mindset. It can be easier than you think or as hard as you want to make it.

 

Concept of Abundance

“The entire universe is conspiring to give you everything you want.” – Abraham Hicks

 “The Abundance Mentality,” writes Stephen Covey, “flows out of a deep inner sense of personal worth and security. It is the belief that there is plenty out there and enough to spare for everybody. It results in sharing of prestige, of recognition, of profits, of decision making.”

This mindset is the core of any area of your life.

It focuses your attention on what you already have and all the possibilities that are available to everyone in the world. The problem, according to Covey is that some people are trapped with the scarcity mentality. 

What exactly, is the scarcity mentality, then? Covey explained it as viewing the world “as though there were only one pie out there. And if someone were to get a big piece of the pie, it would mean less for everybody else.” 

When you have a scarcity mindset, it makes it difficult share happiness, power, or recognition, with others. You feel that when they gain something, it is your loss and you worry that there isn’t enough to go around.

Let’s look at the difference between scarcity and abundance mindsets.

If you have an Abundance mindset, you…

• Live an unlimited, full, and satisfying life
• Are happy most of the time
• Able to give and receive affections, praise, and items with ease
• Feel grateful for what you have
• Feel creative and inspired
• Create meaningful life experiences
• Are secure and confident in life endeavors
• Create successful outcomes 
• Take advantage of opportunities and enjoy new ones that come your way
• You have a point of view of being in control of your life
• Your physical energy is relaxed, alert, confident
• Feel and know you always have choices
• Have a long-term plan for finances and life
• Always have enough for today and the future
• Dream big and think big
• Are a lifelong learner, always ready to educate and learn something new
• Are sincere and congratulate others on their successes
• Enjoy challenges and embrace change
• Have a “cup is half full” or fuller attitude
• Take risks that allow you to obtain your version of abundance

If you have a Scarcity mindset,

• Your viewpoint is as a victim, bully, or one of uncaring or indifference.
• You’re often tense, have clenched jaws, or short of breath.
• You’re often confused, disorganized, overwhelmed, angry, or feel powerless.
• You focus on what’s not working.
• You believe you don’t have enough, and you’ll never have enough.
• You are sad and live unfulfilled daily or it feels that way.
• You incur debt to get an unneeded want.
• You have a fixed mindset where you don’t take risks or think out of the box.
• You fear the unknown keeps you from trying new things.
• You have low self-esteem, no confidence and rarely take chances.
• You have a “nothing good will come from it” attitude.
• You focus on the present, immediate needs.
• You live from paycheck to paycheck with little savings.
• You tend to be self-absorbed, a taker, and jealous of others and what they have.

The concept of abundance, or the theory behind an abundance mindset, then is one of believing there is always enough for you and everyone else, that by taking risks and growing in all ways you win and succeed in life.

Please know this article is not about finding fault in you or others that seem to live within a Scarcity Mindset. After all I don’t know anyone that has note got sucked into this mindset every now and then.

Rather, the point is to help us all see, that we have the the power of choice. We can choose  to continue with ‘what has been’ patterns and conditioning; or to choose to breakaway from the old patterns and conditioning by creating a ‘what is’ reality for ourselves that allows us to live a life inspired.