Abundance vs. Scarcity: A Mindset Discussion

It seems that every business article that I read lately has a specific recipe for success. (Check this one out.) And almost all of them tie success back to one’s mindset, of which I have been writing about for much of this year and I even devote a whole website to this word. But even I have to admit that just having the right mindset is only the beginning of the equation. You see, although it is important to shift your mindset, it is even more important to execute (to take action).

In his must-read book, Think and Grow Rich, Napoleon Hill delves into the individual who thinks his way to success via desire, faith, and autosuggestion. What is interesting in his approach is that Hill realized that as a person thinks (and influences his or her subconscious), so does he or she act. I'll dive into this more next week.

I have decided to take this a step further. My own coach, this past week, reminded me of Stephen Covey’s abundance vs. scarcity mindset theory. The abundance mindset is possessed by the individual who believes that there are enough resources around for everyone to be successful. This mindset results in the “sharing of prestige, of recognition, of profits, of decision making. It opens possibilities, options, alternatives and creativity.” As a result, this individual also believes that he or she can and will become a success.

Unfortunately, most of society has adopted the scarcity mindset which adopts a self-limiting belief system. Covey states that this individual “sees life as having only so much, as though there were only one pie. And if someone were to get a big piece of the pie, it would mean less for everybody else.” As a result, this individual has a hard time sharing recognition, credit, power or profit and has a hard time being happy about the success of others - thereby limiting their own success.

In this article, I have referenced two great authors who layout the path to success via mindset. The question now is not “which path you will choose?” But, instead, how will you shift your mindset in order to take action, thereby fulfilling your destiny?

“You can become instantly successful with a simple thought, but long-lasting and pronounced success comes to those who renew their commitment to a mindset of abundance every minute of every hour of every day.” ~Bryant McGill

Peter A. JamesComment