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Abundance Mindset vs. Scarcity Mindset


Bronze Contributor
Read Millionaire Fastlane
Mar 15, 2019
Los Angeles, CA

Elbert Dockery posted this before, but I wanted to bring this concept up again because I think it is crucial for entrepreneurs to understand.

Part of the journey of an entrepreneur involves taking risks and making calculated decisions that require patience. When you're operating out of a scarcity mindset, it clouds your judgement. Additionally, it kills your motivation to take necessary action à la analysis paralysis. This has found itself to be true in my life - a lot of times I will take on a pessimistic perspective, look at the glass as half empty, and think there "aren't enough opportunities", which in turn causes me to miss opportunities. When I start to look at life as full of opportunities, more of them start to open up in front of me. Life begins to operate sort of like a self-fulfilling prophecy.

As for creating an abundance mindset, it puts you in a better position to make tough decisions that require patience, and helps you trust the process. You start to look at things with a glass half full mentality that fuels your life, and ultimately you start to feel more grateful.

Like Stefan says in the video, these ideas are applicable to pretty much all areas of life: business, relationships, etc.

What are your thoughts on this?
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