Abundance Mindset vs Scarcity Mindset // What You Need To Know in 2018

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This article was also published on Entrepreneur. You can read the article here.

Most people are trapped in a scarcity mentality, but the problem of scarcity is that it prevents you from seeing the abundance of money and opportunity available to you. This is the main difference of an abundance mindset vs scarcity mindset: abundance thinking allows you to see everything you could achieve, whereas a scarcity mentality forces you to focus on what you don’t have.

In this video, Scott Oldford dives into the abundance mindset vs scarcity mindset debate.

As well as sharing a few abundance mindset exercises, Scott shows how abundance thinking leads to an abundance of money, opportunity, and success. To learn how you can escape the problem of scarcity, watch this video now.


Video Transcript:

Today I want to talk about scarcity mindset versus abundant mindset and the importance of being in the abundant mindset as an entrepreneur.

So, as entrepreneurs, we actually have to upgrade our mindset consistently to be able to effectively grow our business. The problem is, is that society has created a scarcity based mindset. That’s where majority of people are in.

Now the thing is, is that as entrepreneurs, we are the one percent of the population that have accepted that we are different. And it also means that our mindset must change to allow us to have abundance ourselves, as well as to create abundance for others.

Because, here’s the thing, when you have abundance it allows you to create freedom. Freedom allows us to step into our why. If you don’t have freedom, then you’re gonna be hustling instead of being the king or queen inside of your business. Inside of your life. Instead of being able to serve people wholeheartedly, you’re gonna be thinking about what is in it for me.

And that’s a problem. Because as soon as you go to the why thinking, the bigger picture, the vision for your life, knowing what you really want to do. You can’t be thinking about, oh where’s the next dollar coming from.

Now the next thing that happens, the next thing that’s very interesting, is that once you kinda step into the why, you start becoming fulfilled. Fulfilled in ways that you’ve never been fulfilled before. And that’s a beautiful, beautiful thing because that fulfillment creates contentment which also allows you to create happiness.

And so from the point from being abundant to the point of having freedom, to the point of stepping into why to the point of having fulfillment, we look at all those things, that’s what most of us as entrepreneurs actually want. That’s what most of us as entrepreneurs, we want to have impact so we must have abundance, we must have freedom, we must have fulfillment in order to create that level of impact that we’re on this Earth to have.

But the problem is, and it’s really, really, really interesting. The problem is, is that most people are afraid to have abundance. They’re afraid to live a good life. They are afraid to get out of this mindset of scarcity.

Because as we grew up, we had this problem, we had this issue where everyone taught us, our parents, our teachers taught us that there’s only so much pie. But the difference is, for you and me, there’s a limitless amount of pie because we can go away and create. We know that value is created by us.

So if we can create the value, and we can distribute that value, we can create abundance. And inside of our business, that means creating profit. And inside of your business, that’s why I believe that our businesses must be seven figure or plus businesses.

They must be businesses that create profit because profit allows for us to create the impact we need and the impact we want.

So if you’re reading this right now, use it as a sign of the fact that you just don’t want a business to have a lifestyle, because, you know what, the lifestyle is nice. The fancy cars are nice. All of these things are nice to have, but more than anything else, that profit allows for you to have that impact and that impact is the reason that you are here right now.

So if you wanna get motivated for something, if you feel dirty being profitable, if you feel dirty having money, I want you to challenge yourself to let go of that because abundance creates abundance.

The more people that are abundant in our world the more abundance that’s going to be created and the higher chance that we’re going to have the ability to have a society that’s evolved.

We’re gonna have a higher chance of being able to create amazing things in our world, innovations and creations that would blow our mind today. We have the ability to do the impossible but it creates and it’s so important for you to have that abundance so that you can create it for others.

‘Cause the entire game changes when you wake up each morning and you ask yourself, what do I, what do I want to do today. Because the choice of what you want to do, instead of having to do something, well that freedom, that changes the entire game. And that, is the secret, the secret of being able to be limitless, and being able to do whatever you want in your world.

So, abundance creates freedom, freedom allows for fulfillment, fulfillment allows for you to be able to create impact and that impact will create a legacy that you’ll be proud of when you take your last breath.

Want to learn more?

Find out more about the power of a money mindset in this post!

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