6 Actionable Steps to Develop an Abundance Mindset 

abundance mindset cultivation

Your mindset determines how far you can go to reach your dreams. Having an abundance mindset sets you up for achieving success. On the contrary, someone with a scarcity mindset often self-sabotages and has already failed before they even try. Which of these attitudes do you want to have in life? Read on and learn how to start choosing what’s beneficial to you!

Key Takeaways

  • A person with an abundance mindset views life’s potential as limitless
  • A person with a scarcity mindset struggles continually with the sense of lack
  • We can develop an abundance mindset by practicing gratitude, surrounding ourselves with the right people, speaking words of affirmation, budgeting well, being generous, and looking beyond oneself

What is an abundance mindset? 

First introduced in 1989 by Stephen Covey in his international bestseller, The 7 Habits of Highly Effective People, an abundance mindset simply means “a concept in which a person believes there are enough resources and successes to share with others”. People who function under this mentality do not see others as competitors but as collaborators. Hence, they will generously lend a helping hand to see others thrive. They are not anxious. When met with challenges on the road to achieving their goals, they will meet them head-on. They believe the world to be full of opportunities, and they are not afraid to knock on doors. They also believe in their own potential. As a result, they trust that hard work and courage to step out will pay off.

Learn about why the abundance mindset is “the most scarce resource on the planet” in this Tedx Talk given by Naveen Jain.

What is a scarcity mindset? 

A person with the scarcity mindset is influenced by their core belief that “there will never be enough for me”. They see the world’s resources as a pie. The more people succeed to take a piece of it, the lesser there will be. With the focus always on lack instead of opportunity, people who function under this mentality are oftentimes complacent and are held back from going for what they want in both personal and professional life. 

Scarcity Mindset v.s. Abundance Mindset

Let’s take a look at how people with these two extremely different mindsets react and respond differently.

Scarcity Mindset Abundance Mindset
“There is never enough for everyone.” “There is always enough for everyone.”
“There is a low chance I will succeed even if I try.” “I’ll never know if I will succeed or not if I never try.”
“I need all the resources I can get all for myself. I want to win.” “I can share my resources with others. We can win together.”
“I will never be as good as that person.” “I can learn from the success of that person.”
“I am fearful because there are too many risks.” “I am hopeful because there are so many opportunities.”

How to Develop an Abundance Mindset Today

abundance mindset

1. Be Grateful

An attitude of complaining drags you down and constantly reminds you of what you don’t have. On the contrary, a mindset of abundance is deeply rooted in gratitude. Find ways to be appreciative of what you have in life regardless of your circumstances! Make it a habit to be thankful. 

2. Surround Yourself With the Right People

You are deeply influenced by who you surround yourself with. Thus, if the people around you have an abundance mindset, you will also be lifted up and encouraged to soar. If they continually function under a mentality of lack, you will most likely be weighed down or discouraged by them. Choose your companions wisely. 

3. Use Affirmations

Words have power. Therefore, be gracious in your words and perspective. Regularly affirm yourself and the people around you. For example, as you look into the mirror in the morning, tell yourself that you will have a productive day. Speak over your life, your situations, and your future. This will release an atmosphere of abundance as you also learn to truly believe what you say. 

4. Budget Well

A scarcity mindset sometimes may come from an impression of not knowing if you have enough financially. Know the value of budgeting wisely, and stick to your plans. Set a goal concerning how much you want to save up. Slowly work towards a sense of abundance as you achieve your financial goals. 

5. Be Generous

At times, functioning in an opposite mentality works to combat what you want to extinguish in life.  Being generous is scientifically proven to make us happier. Surprisingly, you will be amazed by how much more content you feel when you are able to help others in little and simple ways! 

6. Look Beyond Yourself

If you watch the news and know what is happening in the world today, you’d know how lucky you are to be living in safety, away from threats of war, famine, or social unrest. Do not be a self-centered person who only sees what you need. Seeking a more selfless perspective will help you develop an abundance mindset by appreciating all that is happening in your life today.

Abundance Mindset Quotes 

Below are 8 quotes that can help you position yourself with an abundance mindset.

“There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle.” Albert Einstein

“Abundance is about being rich, with or without money.” Suze Orman

“The key to abundance is meeting limited circumstances with unlimited thoughts.” Marianne Williamson

“When you realize there is nothing lacking, the whole belongs to you.” Lao Tzu

“Acknowledging the good that you already have in your life is the foundation for all abundance.” Eckhart Tolle

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” Oprah Winfrey

“Abundance is not something we acquire. It is something we tune into.” Wayne Dyer

“Plant seeds of happiness, hope, success, and love; it will all come back to you in abundance. This is the law of nature.” -Steve Maraboli

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