How To Change Your Life Today W/ An Abundance Mindset
When it comes to getting what you want out of life, the old adage “your mindset determines your reality” rings endlessly true. Having an abundance mindset drastically changes the way you experience life, entrepreneurship and your pursuit of all of your dreams. Your mindset will determine your approach to your goals, helps you handle setbacks and influence your overall happiness.
Being aware of this is half the work, the other half is actually adopting the right mindset. Sounds simple enough!
…but then why are so many people still missing out and living with less abundance? Why do some entrepreneurs struggle with this so much? Buckle up and let’s dive in. You have big things waiting for you at the other end of your mindset shift.
Intro To Abundance Mindset
The term “abundance mindset” and its opposite, “scarcity mindset,” were first coined by Stephen Covey in his book The 7 Habits Of Highly Effective People. Covey teaches that although the term abundance mindset suggests living like a millionaire, it has little to do with your personal wealth. Instead, the words scarcity and abundance reflect the way you see the world.
With a scarcity mentality, you see the world as a pie that we all have to share. After someone takes a big piece there will be less for everyone else. Raise your hand if you had a sibling who loved to steal your French fries when you were kids. That’s exactly how scarcity mindset works, except the fry theft was real and savage.
With a scarcity mindset, it makes a lot of sense to pay a lot of attention to what other people have and even be jealous if they have more than you do. After all, they succeeded at taking a piece of the pie that could have been yours.
Or, to quote Donna Meagle from Parks And Recreation: “When you get that man, I do not get that man.”
On the other end of the spectrum, there’s the abundance mentality, where you see the world as having basically enough for everyone. In the unlikely event that we run out of pie, we just make another one so that everyone can have their fill.
Whenever someone gets a huge piece, you can just be happy for them.
You might be wondering, does all this mindset stuff really matter that much??
Frankly, yes. Not to oversell here, but it’s going to determine your success, happiness and wealth in life.
You can either live in a world of scarcity or a world of abundance, and the best part is… you get to choose.
Let’s look at how to hack the science behind having a mindset rooted in abundance, and the 4 steps you should take to help you go from a scarcity to abundance *today.*
4 Benefits Of An Abundance Mindset
The old adage “mindset is everything” exists for a cliché for a reason.
It determines your outlook on life and the implications are huge for the way you approach your business.
I’ll even drop one bomb further: your mindset will actually change your reality. Don’t believe me? Well then, let me hit you with the science!
In her book Mindset, psychologist Carol Dweck discusses the effects of adopting a growth mindset. A growth mindset, she says, means that you see your intelligence, your creativity and any of your other qualities as something that can grow and be developed.
Dweck goes on to give real-life examples that support the idea that having a growth mindset normally leads to better results when it comes to fulfilling your potential. In addition, she points out how it is possible to force yourself to adopt a growth mindset and thereby setting yourself up for success. Believing in your ability to grow becomes a self-fulfilling prophecy and will lead to actual growth.
Likewise, cultivating an abundance mindset will lead to similar results. The belief that there is more than enough for everyone will ultimately result in a happier, more fulfilled life.
In The 7 Habits Of Highly Effective People, Stephen Covey describes what happens when someone changes their attitude from a reactive to a proactive one. He explains how your sphere of influence actually increases, and continues to do so, once you accept personal responsibility.
In a similar way, Covey also discusses the implications of having an attitude that is primarily reactive. When you believe that the world “is just happening to you,” your sphere of influence becomes smaller and the sphere of concern becomes bigger.
“Your mindset determines your reality” is foundational to accept. While changing your mindset is no substitute for time and effort, it will have a tangible effect on the outcome of your hard work.
Let’s look at how some of the things that will change once you adopt the abundance mindset!
1. Sadness and envy will become gratitude and happiness
Do you feel a pang of envy every time someone else, instead of you, earns a promotion? That is the scarcity mindset talking, my friend. Living with a scarcity mindset will have you live in constant fear of “running out.” It is about time we put that annoying voice out of business.
Just because someone finds success, that does in no way mean that your chances are somehow diminished. There is plenty of room for you to succeed as well. Just think about the number of successful blogs, successful etsy shops, successful coaching businesses etc are out there. In no way has the internet run out of space so there is most definitely still room for your niche.
The answer is simple: stop comparing your achievements with those of others. Instead of feeling sad, discouraged or even envious of other people’s success, let it inspire you. The fact that so many people find success online does NOT resemble a pie that is getting smaller and smaller with everyone taking a slice that is bigger than yours. Instead, all those people that stand out just go to show that this stuff is truly possible, not only for them but for you too.
Furthermore, look around and see what you have accomplished already and stop comparing your successes to those of other people. Have you managed to find a greater sense of fulfillment because you finally decided to go for it? Good for you! Are you still in the early stages of escaping the rat race or you don’t even know where to start? Well done because you have taken your first step on an amazing journey. Remember your journey and its ultimate success is in no way influenced by anyone but you.
2. An Abundance Mindset Allows You To Leave Your Comfort Zone
Changing the way you think will impact the way you handle change and opportunity. Have you ever said no to an opportunity because it didn’t feel right for you without being able to explain why? Have you ever not hired someone, despite their incredible credentials, just because they were too far removed from what you normally do? If the answer is yes, and I think we have all said yes at times, then that was the result of a mentality based in scarcity. When you let go of the idea of scarcity, you let go of the fear of making mistakes.
As long as you believe that there are a limited number of roads that lead to success, choosing the wrong one becomes a scary thing. After all, since we’re all trying to get a piece of that pie, wasting time could mean that someone else gets more. The implied result is that there will be less for you.
The opposite (believing that there is an endless number of roads), will make you more open to new opportunities. Letting go of that fear can make you more willing to try new things, especially if they come with the potential of more success. Furthermore, it could help you create more opportunities since there is no harm in trying.
Accepting the mindset of abundance will ultimately leave more room for exploring alternatives and creativity in general. It opens your eyes so you will recognise and ultimately see more opportunities around you.
3. You Move From Competition To Cooperation
Once you accept the idea that not everyone is competing for the same limited resources, life becomes a lot less stressful! You no longer have to fight in order to make sure you don’t miss out. It’s okay for someone else to be successful since it no longer means that their success comes at your expense. Likewise, the idea that there is plenty out there for everyone has some very positive implications for your online business.
As stated, an abundance mentality means that you no longer see success as an either-or phenomenon. Instead, success becomes something that can be enjoyed by both parties, even at the same time. In terms of your business, this means that win-win becomes the norm.
Instead of being locked in an endless battle with your competitors, you will find it beneficial to work with them. This touches on my personal motto: rising tides raise all boats.
For example, it means that you don’t have to chase your opponent’s clients, or otherwise fish in their pond, but instead, you can be relaxed knowing that you both can thrive without taking from one another.
4. Your Focus Will Shift To Long Term Benefits
Someone who is stuck in the scarcity mindset needs a constant string of short-term successes in order to feel at ease. With an abundance mindset, you can have the ease of relying on the long-term results instead of the immediate gratification. That is life-changing when it comes to being self-employed! An online business is your answer to everything, but only if you give it the time it needs to grow.
A scarcity mindset is destructive to business building. One specific scarcity mindset side effect is what psychologist Eldar Shafir calls “tunneling.” While in the state of tunneling, people tend to work obsessively on the one problem they are trying to fix. The behavior of tunneling was further confirmed by professors of psychology Christopher Chabris and Daniel Simons in the hilarious “gorilla experiment.” Focusing on one aspect of a problem, scarcity, we tend to blind ourselves to anything outside of the tunnel.
Letting go of the feeling of scarcity will set you free from the need for short-term successes. An abundance mindset will let you open your eyes to more sustainable long-term gains. The need for what’s best right now will make room for peace of mind to see what’s best down the road.
How To Adopt An Abundance Mindset
Getting out of a mentality based in scarcity can be challenging as the corporate world is rooted in the idea of scarcity. After all, resources are limited and promotions only come along once every few years, right?
Adopting an abundance mindset takes time but you’ll be better off in the long run. Here are a number practical steps you can take or think about in order to start the process of changing.
1. Be Grateful For What You Have
Comparing your life to those of other people can be incredibly discouraging. We have all seen the social media accounts where it seems like everyone is always having more fun than you are (I’m looking at you, Instagram). Looking at other people makes you feel as if they are all more successful than you and all you can do is try to catch up.
The way to break out of this feeling of constantly being behind is to simply stop comparing yourself to other people. It really is that straightforward. Try to see what you have and work on being grateful for it. Oprah Winfrey said it best: “If you look at what you have in life, you will always have more. If you look at what you don’t have in life, you will never have enough.”
Whether you keep a gratitude journal or try to think of 5 things you’re grateful for every day, every little step builds towards feeling abundant.
2. Be Grateful For Who You Are
Being truly grateful for who you are sounds like something that is easily said but not easily done. That being said, you have every reason to do so! An important step in adopting an abundant mindset is to accept that you are worthy of abundance.
You deserve a good life filled with abundance. It really is as simple as this – I’m getting a bit philosphical here but bear with me – you are worthy of good things. The important thing here is to understand that this in no way means that you deserve more than anyone else. Neither does it mean that anyone somehow gets less just because you get more. Remember, this is not a zero-sum game. You deserve it just because you are you, a unique human being.
Furthermore, try to see all the ways in which you are unique. The world may not have room for another Jeff Bezos, or need one, but it does have room for you. Since the number of paths to abundance are basically endless, your unique traits are your greatest asset. Anyone can learn how to run a business but nobody can learn how to be like you. Your unique angle, approach and insights will be what sets you apart from the rest.
Don’t pay any heed to that small voice telling you that you are not ready, don’t know enough or are otherwise not good enough. Nowadays the internet offers almost limitless options for learning and developing the necessary skills. After all, you are capable and you have what you need to succeed. This is especially true for 2021.
3. surround yourself with The Right People
Do you ever feel like some people just take it out of you? You come home after spending time with them and you just feel drained. Somehow these people seem most comfortable in a playing the role of the victim, lack colour or passion and, worst of all, live and breathe apathy.
Likewise, do you have people in your life that just energize you? Their energy and passion is inspiring and their optimism makes you want to reach for the stars yourself. After spending time with them, you believe you could do what they are working on yourself. There is a reason there are so many creative people want to be surrounded by other creatives.
Surrounding yourself with passive people will lead to you being passive. Likewise, the attitude of people that always talk about how life is ‘so unfair’ will rub off on you in a similar way.
On the other hand, people that are passionate, creative or inspriring in any other way will lift you up. If you do not have likeminded, budding entrepreneurs in you life, the internet offers many opportunities to connect with many inspiring people that can lift you up.
The takeaway here is simple. People’s attitudes are contagious and will affect your life. Be aware of the people that you surround yourself with and the effect they might have on you.
4. Be Prepared To Learn From Mistakes
All this talk of abundance does not mean that you can just sit there and wait for success to find you. Yes, the path is there but you are going to have to take action and actively walk it.
Since there are endless opportunities out there, it makes sense to actively look for and try out new things. Do not be afraid to fail however, as it will ultimately result in growth which in turn will actually get you further in the long run.
Remember the ‘tunneling’ that showed up in the goriila experiment? If you obsessively work on one frustrating task, you will blind yourself to anything outside of the tunnel. Failure is fine as long as you are prepared to learn from it.
The opportunities are there and so is your eventual success. If something fails, that does not mean that the next thing will. Thomas Edison famously said: ‘Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.’
Final Thoughts On The Abundance Mindset
Your mindset is everything. It determines how you see the world and ultimately what the world will be for you.
Opportunity is out there. Don’t forget that on average Google handles 3,8 million searches per minute. From virtual golf lessons to online babysitting, people made money with outrageous ideas in 2020 and are likely to do so in the near future. Do not doubt the fact that there is someone who is interested in your ideas, your products or your services.
The world has room for you as a person and for your unique ideas. The paths to success are there and the only thing you have to do is start walking.