Is a scarcity mentality hurting you more than you realize?

I have a question for you: what sort of myths are you telling yourself?

I use the word myths specifically because unfortunately, so many people feed their minds so-called ‘facts’ that really have no basis in reality. It’s astounding how often a person during their lifetime might say things like:

  • “That’ll never happen to me.”
  • “I’m so unlucky.”
  • “I’ll never be rich.”
  • “I’ll never be happy.”
  • “I can’t do something like that.”
  • “I’m not good enough.”

 

If you’re honest with yourself, you might’ve spoken those very same statements more than once at some point in your life. If that’s the case, don’t feel too bad. I think it’s safe to say that when we’re young, we’re programmed with a ‘scarcity mentality’, and it ends up calling the shots once we’re adults. And unfortunately, some people never break out of their scarcity mentality and go all their lives convinced that they have to live with lack.

Check out what Stephen Covey has to say about the scarcity mentality in his book, The 7 Habits of Highly Effective People:

“Most people are deeply scripted in what I call the Scarcity Mentality. They see life as having only so much, 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.

“The Scarcity Mentality is the zero-sum paradigm of life. People with a Scarcity Mentality have a very difficult time sharing recognition and credit, power or profit—even with those who help in the production. They also have a hard time being genuinely happy for the success of other people.

“The Abundance Mentality, on the other hand, flows out of a deep inner sense of personal worth or security. It is the paradigm that there is plenty out there and enough to spare for everybody. It results in the sharing of prestige, recognition, profits and decision-making. It opens possibilities, options, alternatives and creativity.”

 

For the next few weeks, I’ll be diving deep into this topic and showing you how you can develop and maintain an abundance mindset. With an abundance mindset, as the above quote asserts, doors of opportunity are always opening for you. Financial security and freedom suddenly become possible. You don’t have to live in fear or anxiety anymore. Instead, you’re confident about your future, and suddenly, anything seems possible!

Just as important, you’re no longer jealous about the success of others! It’s sad just how common this is among entrepreneurs. We see someone hit six figures, and suddenly we hate them. Why? Because of a scarcity mentality! We assume the resources in our world are limited, and that if someone got what we wanted, then there’s no hope for us.

But with an abundance mentality, we’re able to celebrate the success of others! We recognize that there are enough resources in the world for everyone to make it, for everyone to succeed, for everyone to better their lives. We realize that we don’t have to compete like this is the Hunger Games. Instead, we can build each other up and empower one another.

Doesn’t that sound like a much better deal?

So I’m excited to share some insights and strategies with you in the coming blogs.

 

To start, the first thing you should do is look for the symptoms of a scarcity mentality in your own life. Common signs and stories include the following:

  • You’re jealous of the success of others
  • You constantly compare yourself to others (especially when it comes to material things).
  • You feel relieved when others fail at their goals (especially if the goal is something you want for yourself).
  • You see yourself as being in competition with others in your industry.
  • You’re filled with excuses for why you don’t achieve your goals.
  • You often use the ‘language of lack’ (“I can’t afford that”, “I don’t have enough money”, “I’m not qualified”, etc.)

If any one of these ring true from you, then you might have a scarcity mentality on your hands. So stay tuned for my next blog, where I’ll show you how you can start overcoming these myths and start living from a space of abundance.