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  • Writer's pictureShruti Mouli

Scarcity vs. Abundance Mindset

Updated: Apr 29, 2021

Mindset is the most critical component to a thriving business or living a full life. What we think is what we become. Our thinking has been developed as a child and most of it continues to manifest in different ways without your conscious awareness.

According to Stephen Covey, author of 7 habits of highly effective people, there are two kinds of mindsets – The Scarcity Mindset which stems from fear of the unknown, belief that there will never be enough or there is only so much out there. And Abundance Mindset that believes that there is plenty to go around, plenty to give and always coming from a place of feeling secure.

It’s so easy to fall into the scarcity mindset as we see it around us on a daily basis. This mindset causes self-centred behaviours, stops us from being open-minded to resources around us, as the focus is on safeguarding what we have. We close doors to resources for self-betterment, we are never happy for others successes and achievements and we try and control everything around us. This causes stagnation, leads to frustration which then leads to deeper fears and anxiety. It’s a vicious circle.

Abundance mindset needs conscious effort but once adopted gives us the potential to see the world as a playground of opportunity and possibilities. There is a deep-rooted security to believe everything around us is a learning to create the lives that we desire. We are constantly looking to evolve as a person, model other people’s successes and allow others to borrow our resources. The concept of failure doesn’t exist anymore, but only feedback – feedback to do better. We become generous beings and thrive on uplifting people around us. We succeed by helping others succeed.

How can we make the shift to live abundantly everyday?

1. Follow our own path and live by our values. Don’t compare our life with others

2. Maintain a gratitude journal

3. Look for learnings all around us. Adopt and improvise all the time.

4. Embrace our fears, lean on our deep-rooted security and take one action towards our goal everyday.

5. Give and teach everything we have learnt along your way.

Does living with an abundance mindset mean that everything will go our way? No – not at all! Can it ever? It just means when things go wrong, we are better equipped to respond, learn the lessons to be learnt and work out what’s the best course of action. And we have the awareness to tap into the resources around us and not afraid to ask for help. And there is a strong belief within ourselves that we are unstoppable!

So, which mindset do you choose today to Live Life on Your Terms, Unleash Your Potential and Live your Dream?

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