Is your glass half full or half empty?
This post is all about one of my favourite attitudes to life and business – the Abundance Mindset.
What is the Abundance Mindset?
“The Abundance Mindset” is an idea put forward by Steven R Covey in his bestseller “7 Habits of Highly Effective People”.
You have the abundance mindset when you see the world as a positive place where you can make things happen, rather than let things happen to you.
People with the abundance mindset know that there is enough (of everything) to go round – especially money and time!
This means that they can be generous with their money and time. Also they can confidently negotiate and work with others knowing there is enough for everyone.
This means when you are negotiating with someone else, don’t try to get the biggest slice of the pie, but find a division that is acceptable to both of you. You will still get your fair share, and build a strong relationship in the process. (This is called a win-win situation)
“In the long run, if it isn’t a win for both of us, we both lose. That’s why win-win is the only real alternative.”
What are People with an Abundance Mindset Like?
People who have the abundance mindset generally have a positive outlook on life – they are typically people who are visionaries, who believe that life has limitless possibilities.
People with an Abundance Mindset have:
- a growth mindset – they believe you can develop your talents over time
- belief that there is more than enough (of anything) to go round
- an ability to successfully work with other people – they believe others are collaborators rather than competitors
- an ability to achieve a win-win situation rather than a zero sum game (where if someone benefits from a deal someone else suffers)
The opposite of the Abundance Mindset is the Scarcity Mindset, where someone believes that there is not enough (of anything) to go round, and resources (time and money) are limited.
What are People with a Scarcity Mindset Like?
Those with a Scarcity Mindset tend to have negative thoughts and a victim mentality – they feel that things happen to them, rather than them making things happen.
They tend to see business (and life) as a zero-sum game. This leads to a lot of resentment and jealousy, and makes people think that everyone is out to get them!
People with a Scarcity Mindset have:
- fear that things are going to go wrong and they are going to lose
- belief that they cannot control outcomes
- a feeling that others are out to beat them rather than work with them
- fear of change – they think that if things change it’s bound to be for the worse
- a stressful life!
Why do I love the Abundance Mindset ?
I think it’s a wonderful way to live your whole life (not just your business life). There is so much positivity – you live your life anticipating good things, and it puts you in control. You are able to help others and spread wealth and knowledge without fear.
If you have the scarcity mindset, you live in fear of bad things happening to you, and it seems like such a stressful way to live your life.
You don’t need to live like this – don’t be afraid. Take life by the scruff of the neck and be pro-active. Don’t just let things happen to you – make them happen!
My 7 Steps to Developing an Abundance Mindset
With a bit of practice I think it’s easy to develop an abundance mindset. As with most things, consistency is the key. When everyday obstacles come up it’s easy to lapse into the negative scarcity mindset.
It’s important to keep a positive outlook – reminding yourself of the steps below when you’re feeling the strain will help keep you on track:
1. Know There is Plenty:
This is the main idea – know that there is abundance in everything. Don’t be afraid that there won’t be enough customers, or website traffic, or followers – the world is a huge place with millions of potential customers – you just have to work out how to reach them.
2. Embrace Change:
Change is an inevitable part of life, and if you fear change you will be living your whole life in fear. Embrace change – most change is for the good, and offers and opportunity to do things differently. If things don’t change in the way you expect, take the opportunity to take stock and re-think the way you are doing things.
3. Happiness not Resentment:
Don’t fall into the zero-sum trap. Just because someone is successful you don’t have to assume that you (or someone else) is being cheated, as that’s usually not true.
Be happy that others are having success, and be grateful when you are having success. If you are going through a difficult patch, don’t immediately try and put the blame on someone else, use it to re-evaluate how you are running your business or life.
4. Think Big:
When you know that there is enough of everything to go round (money, time, website traffic) you will realise that it’s easy to think big, and aim for the sky! If you’re setting a goal of 10 new customers a month, think bigger and aim for 100 new customers a month – the market for your business is always bigger than you think, especially on the Internet!
5. Be Proactive not Reactive:
If you know that there are enough customers out there to go round, all you have to do is find them! However, you can’t sit still and wait for them to find you.
6. Be Generous – with Money, Time and Praise:
If you know that there is enough money to go round, you can afford to make charitable donations. If you know that there is enough time, you can stop to help others along the way with your knowledge and insights.
It costs nothing to be generous with praise when others have done well, and don’t forget to praise yourself when you achieve your goals.
7. Work with a Spirit of Co-operation:
If you know that people in your business areas are not “out to get you” you can see them as potential partners or collaborators. Great things can be achieved if people put their heads together to solve a problem or reach a particular market instead of trying to compete.
I hope reading about the Abundance Mindset has invigorated you as much as writing about it has invigorated me. I love it – there are so many positive outcomes, and people can live much less stressful lives if they adopt the Abundance Mindset.