It's long been said that our attitude goes a long way in determining our success and even how things are in the moment. Roughly two millennia ago, Seneca noted, "there is nothing either good or bad but thinking makes it so", meaning our perception is the final determinant if things are good or bad.
Looking ahead in 2023, there is both pessimism and optimism about the economy and the real estate market, among other things.
Who is right?
According to Seneca, everyone.
If you see things as set to be very bad, then they are. If you think there is opportunity afoot, then there is.
So, then, what is a Scarcity Mindset?
In short, this refers to the feeling that there just isn't enough. It might mean believing there isn't enough available ("I can't find a good job; there just aren't any openings") or that there simply isn't enough available to/for the individual ("I'll never get ahead on my bills").
In each case, the focus is on shortage, what's lacking.
It's in the fear of what isn't, rather than hope about what is....or could be.
This leads to stress and - in many cases - anxiety.
Even worse, it can get us in a feedback loop and compound itself.
For example, if we are worried that "there's just never enough time to get it all done," then we don't see how it can all be done each day or week. Once the stress, worry and anxiety creep in, they take up time, bringing more passing hours where "it's not getting done", which make the hours seem even fewer, adding to the anxiety and so the loop goes...
Worse still, a scarcity mindset typically doesn't isolate itself. Once it takes hold in our view of time, for example, it creeps in on our views of money, friendship, trust, health, and so on.
Options to Turn the Tide
It's easy to suggest simply looking at things more optimistically and seeing opportunity and abundance, and so on, but that's maybe a bit much to handle on day one.
One good option Lauren Alexander, PhD, suggests is starting with an Acceptance Mindset. That is, accept that there's a lot to do in the given time and that some thing might need to get set aside at first. By reducing the expectations, we reduce the mountain we see in front of us. We can accept what is and then recognize that we will eventually come up with a way to resolve it, but it doesn't have to be right now.
It's also known that gratitude can play a big role in changing this scenario. Oprah Winfrey once said, “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.” This slight adjustment to our outlook reminds us that when we are aware of how much we have going for us, the "lack" doesn't seem so grandiose.
A third option is to update your circle of contacts. If you're around people who never think there's enough, it's tough to keep it from rubbing off on you. Spend some time with people who believe it will be okay, it will work out. If your friends and family rub off on you - which they do - then be around people with something good to rub off of.
Getting to an Abundance Mindset
For most of us, there's no overnight plan to move from scarcity to abundance, but it's a good goal to move toward. In an abundance mindset, you start to believe that there is enough.
Sure, you might not have it, but tell yourself you just don't have it yet. If, for example, it feels like there aren't enough hours in the day, look at all the things you're trying to get done. Do they all really need to be done? If so, does it have to be you that does them? Can you delegate tasks? Are you trying to do it all because of ego, insecurity or a sense of obligation? If so, delegating some tasks to other people still shows that you can get it done. Great leaders don't actually do all the work themselves; they do a great job assembling teams that do.
In this same vein, you can see yourself as a great leader that gets things done by utilizing your own team, be it your partner, kids, friends, or someone you hire.
Another, perhaps tougher, option is to look honestly at your efforts right now and see where maybe they could be improved. If you feel like there's just too much housework every day, and delegation isn't an option right now, ask how much time it would really take to get it done. Is it possible that it only feels like a 2 hour job when, in reality, you could get it done in 15 minutes. This is more commonly the case than we'd like to admit.
If money feels like it will always be short, are there places you're spending money that really aren't necessary or worth it? I love iced soy lattes from Starbucks, but the venti size is now over $6 per drink. Do I really get $6 worth of pleasure from them? The answer is usually no. I can make coffee at home, add a little vanilla soy and get something almost as good for roughly $1.50.
Most of us have similar substitutions that would go a long way.
If there's not enough time in the day, how much time are we in front of the tv or lost in social media? Could we cut 30 minutes out to do something on our list? Often, yes, and we wouldn't even miss the time away from the screens.
And so on.
Really, though, the first step is to realize that the scarcity mindset is an idea more than a fact. That is, it's a matter of perception.
In almost all settings, where one sees calamity, another sees opportunity. This doesn't have to be insensitive, it's just how we choose to approach the world. One takes strength away, the other gives us hope, optimism, confidence and momentum.
Choose carefully and wisely.
