Do you have a mindset of scarcity or one of abundance?
A mindset of scarcity believes that resources, ideas and opportunities are limited; that a finite number of people that can be successful in any endeavor and once a ship has sailed, bon voyage.
A mindset of abundance believes that ideas and opportunities are limitless, or that the limit is so large that for all intents and purposes it is limitless.
So which do you have?
In certain circumstances, particularly natural resources, there may be limits and it is prudent for us a people to pay attention and use our resources wisely; but in most areas, especially the areas of ideas and opportunities I subscribe to abundance thinking.
No one is you. You are unique and come with your own set of experiences and background, giving you a distinctive voice and perspective, a new and different way to approach and solve each problem you face.
Recently, podcaster John Lee Dumas from Entrepreneur on Fire was named 2013 Best in Itunes for his daily podcast. His idea, start a podcast interviewing experts in social media. Not a terribly unique idea. In fact it is one of the most crowed spaces in podcasting with some very established big names and experts already doing virtually the same thing. Had John Lee subscribed to the scarcity mindset he would have thrown out his idea and looked for something else.
But, John Lee believes in abundance and took his unique approach, a daily release podcast, and became hugely successful surpassing the same established experts that could have discouraged him from starting.
Ideas and opportunities are not scarce; motivation and commitment are. Almost everyone who has taken a shower has had an idea, but how many act on those inspirations? Very few. People give every excuse in the book of why they cannot and do not pursue their ideas: too busy, lack of funds, too much competition, too lazy et cetera. They see the ship as having already left. It has not.
Here are 4 steps to catching that ship before it disappears over the horizon:
1. Set aside time– What are you willing to sacrifice to make your dream a reality? Can you do without a little sleep? How about reducing your television time or staying a few minutes longer at the office? If you cannot find time to go after your passion you don’t want it bad enough. There are countless success stories of people who worked 2 jobs and found time to chase their dream. Schedule and commit to working. Lack of time is a scarcity mindset.
2. Commit– as Thomas Edison famously said, “opportunity is missed by most people because it is dressed in overalls and looks like work”. Anything worthwhile is going to take commitment and sacrifice, dedication and intention. Commitment is an abundance mindset.
3. Don’t fear failure– Do not let fear get in the way of a great opportunity. It may be as simple as asking yourself “what is the worst thing that could happen”. I mean really happen. Often when you look at it that way there is actually very little to fear at all. Other times you need to step into the darkness confident that when you do you will be able to see a little bit further. What if you do fail? Sometimes we win and sometimes we learn. Each failure can be a stepping stone to the next victory. Fearing failure is a scarcity mindset.
4. Catch the next ship– It’s possible that certain ships really have sailed. It is time to look for the next one. If your dream is to start an 8-track company you could give it a go- that’s a pretty niche market and you may be better suited to consider digital audio or the next wave coming. Richard Branson, a business icon who definitely has an abundance mindset said that “business ideas are like buses, there’s always another one coming”.
Having a scarcity mindset will not help you to accomplish your dreams. Set aside time to make it happen, commit to success and working hard, don’t limit yourself with fearful thinking. Opportunities and ideas are abundant.
Question: I want to know what you do to overcome fear of failure. Leave your comments below or by clicking here.