Defined as plentiful and having ample resources, abundance is a mindset that can affect how you respond to adversity. Focusing on abundance means engaging in activities that raise wealth for everyone you encounter. In business, abundance can be a creed to lift the lives of your employees, vendors, suppliers, and customers with every interaction.
Establishing an abundant mindset can start early. “Stanford psychologist Carol Dweck examined mindsets among young students. She found that intelligence can be developed in children with a growth mindset, and they can better overcome academic challenges than those with a fixed mindset that intelligence is predetermined” (Forbes.com, 2020).
Scarcity, the opposite of abundance, can be just as pervasive. “Scarcity mentality refers to people seeing life as a finite pie, so that if one person takes a big piece, that leaves less for everyone else” (Forbes.com, 2020).
“A scarcity mentality keeps many of us from achieving our goals. An abundance mindset refers to the paradigm that there is plenty out there for everybody” (Forbes.com, 2020). Supported by Stephen Covey in his best-selling book The 7 Habits of Highly Effective People, abundance must be practised for it to become a solid foundation. There are five ways to establish an abundance mindset that can affect your entire life.
- Be mindful of what you have instead of focusing on what you don’t have.
- Make sure your circle of influence is full of others with an abundance mindset.
- Focus on creating mutually beneficial interactions
- Be grateful
- Train yourself to see opportunities instead of obstacles
When you are mindful of what you have and stop focusing on what you don’t have, you are more likely to learn and be open to new possibilities. While not every situation may be filled with potential, there is something positive you can take from every interaction.
The people you interact with most will greatly influence you. You can further improve your mindset by including positive, abundant-minded people in your daily lives. When your peers, mentors, and advisors are focused on abundance, you are more likely to adopt the right habits.
Create engagements that result in win-win outcomes. With a scarcity mindset, someone in the interactions often loses or fails to get the desired results. When you focus on creating mutually beneficial relationships and interactions, both parties will walk away with more than they started with.
If you are grateful, you engage in gratitude and focus on the positive. “Practicing gratitude is one of the most widely recognized methods for improving one’s overall well-being” (Forbes.com, 2020). Writing down what you are grateful for every day keeps, even the most minor things, keeps you focused on what is possible.
Finally, creating these rituals will help you identify opportunities instead of only finding obstacles. Looking for what is possible means you are open to learning and can add skills like critical thinking to make you more effective in work and your personal life.
Ultimately, it is your choice to focus on abundance instead of scarcity. As a leader, manager, and colleague, you can serve your business with the best of you. Being mindful of abundance means looking for ways to add to others’ lives positively. Create habits to help you see the abundance available to you in every situation.
Working with a business coach can help you establish patterns and habits to grow your business abundance. Choose a business coach with proven systems and processes to teach you how to develop a positive mindset. ActionCOACH is the world’s largest and most successful business coaching organization in the world. With more than 1100 coaches in over 80 countries, join a group coaching membership program to begin your abundance journey.
