Abundance is a mindset that can influence how you respond to adversity. Focusing on abundance implies that you are engaged in activities that increase wealth for everyone you come into contact with. In business, abundance can be a creed to improve the lives of your employees, vendors, suppliers, and customers with every interaction.
Developing an abundance mindset can begin as early as childhood. “Stanford psychologist Carol Dweck examined mindsets among young students. She found that children who have a growth mindset that intelligence can be developed are better able to overcome academic challenges than those who have a fixed mindset that intelligence is predetermined” (Forbes.com, 2020).
The opposite of abundance, scarcity 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 is what 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).
In order for abundance to establish a strong foundation, it must be practised, according to Stephen Covey, author of the best-selling book The 7 Habits of Highly Effective People.
Establishing an abundant mindset may change your entire life, and there are five methods to do it:
1. Instead of focusing on what you don't have, be mindful of what you do have.
2. Make sure your circle of influence is filled with people who believe in abundance.
3. Concentrate on establishing mutually beneficial interactions.
4. Be thankful.
5. Teach yourself to see opportunities rather than obstacles.
When you focus on what you have rather than what you don't, you are more likely to learn and be open to new possibilities. While not every situation has potential, there is something positive to be gained from every interaction.
The people with whom you interact the most will have a significant influence on you. You can improve your mindset by surrounding yourself with positive and abundant people. You are more likely to adopt the right habits if your peers, mentors, and advisors are focused on abundance.
Create interactions that result in win-win situations. With a scarcity mindset, someone in the interactions frequently loses or fails to achieve their desired results. When you focus on developing mutually beneficial relationships and interactions, both parties gain more than they started with.
When you engage in gratitude, you are focused on the positive. "One of the most widely recognised methods for improving one's overall well-being is to practise gratitude" (Forbes.com, 2020). Writing down what you are grateful for on a daily basis keeps you focused on what is possible.
Finally, developing these rituals will assist you in identifying opportunities rather than only obstacles. Looking for what is possible means you are willing to learn and can develop skills such as critical thinking, which will help you be more effective at work and in your personal life.
It is ultimately your choice whether to focus on abundance or scarcity. As a leader, manager, and colleague, you can give your all to your company. Being mindful of abundance implies that you are looking for ways to positively impact the lives of others. Create habits that will help you see the abundance that is available to you in every situation.