In today’s world we are socially and culturally conditioned to think that there isn’t “enough” wealth. We are taught to think of wealth as a finite concept. In other words, because there isn’t enough wealth to go around, we are taught that we need to hurry up and grab our fair share. This scarcity mindset is especially common in the business world.

From business school to the corporate board room, we are conditioned to believe that all businesses must fiercely compete against one another in order to obtain scarce resources and secure a piece of the finite wealth pie in order to achieve financial success and security.

People who have a scarcity mentality buy into this idea that there isn’t “enough.” They perpetually feel that there is a lack of something in their business—a lack of time, money, resources, talent, opportunity, etc. People who buy into this scarcity mentality put themselves under an extraordinary amount of stress. And the worst part? A scarcity mentality breeds a vicious cycle of stress and defeat.

The more a person stresses about not having enough the less they are able to see and appreciate what they have. And, the more pressure they put on themselves to get more. In a scarcity mindset nothing is ever enough. Instead of celebrating real accomplishments and keeping an eye out for new opportunities, individuals with a scarcity mindset constantly get stressed about perceived defeat. Therefore, when it comes to dealing with financial stress you need to first do something about your scarcity mentality.

The bottom line is that this mentality is affecting the way that you do business. It affects the way you perceive inefficiencies.

A scarcity mentality also limits your ability to enjoy your personal life and provide wonderful experiences for your loved ones and children. Furthermore, it mitigates your ability to support important causes, create a better world, and build a positive legacy. So, if you want to remove financial stress from your life and live to the fullest, you are going to need to kick this scarcity mindset to the curb.

Think of it this way: when your internal dialogue is negative, you are actually working against your own best interests.  Your scarcity mentality actually blinds you from seeing the abundance of opportunities around you. The solution? You need to shift your focus from scarcity to abundance.  Change your mindset.

  • First and foremost, it is crucial to recognize that there is no fixed amount of wealth in the world. Wealth is a dynamic quantity—it is constantly changing. Stock market values go up and down and home prices rise and fall. You create your own wealth; you don’t grab it from some kind of finite, mythical wealth pie.
  • Secondly, expand your horizons. One of the biggest false perceptions of a scarcity mentality is that in order for you to gain wealth someone else has to loose it. With an abundance mentality you will recognize that this simply isn’t true. Partnerships and teamwork with perceived competitors can actually enhance your wealth.
  • Thirdly, remember, wealth is a team effort: it results from adding value to others and receiving value in return. By consciously choosing abundance thoughts you will choose an abundance mindset.

This is amplified when you consider that to make money and enjoy wealth your path is clear – add more value to others. Then accept that you have the right and deserve to be paid well in return. With this mindset you can lower the amount of financial stress you experience in life and open yourself to new financial possibilities.