3 Steps to Overcome a Scarcity Mindset

Let me ask you (and be honest):

When you go out for dinner to a nice, sit-down restaurant (and YOU are footing the bill), do you order whatever you want, even if it’s the most expensive item on the menu? Or do you hold off on the Lobster Thermadore and or whatever it is that you REALLY want because it’s too much money?

Have you ever said, “I’ll get that _____ when I can afford it?” or “I’ll hire that _____ when I can afford it?”

Do you celebrate and brag to others when you get a GREAT “deal?” Do you rarely pay full price for clothes and accessories?

Odds are, you have a scarcity mindset. It’s not your fault. Scarcity mindset programming is woven throughout every area of our lives in modern society. Scarcity mindset is simply a belief in a limited supply of anything – food, water, money, resources, relationships, etc.

The problem is that as an entrepreneur, a scarcity mindset breeds poverty and will severely limit your success. Quite simply, a scarcity mindset that goes unchecked will ultimately lead to failure in business. So it’s critical to overcome your scarcity mindset. How do you do it?

Here are my 3 steps to overcoming your scarcity mindset:

1) Acknowledge the false premise, “Money comes to me because of what I do.” This is a biggie. And there are lots of people who have taught us this. There are experts that will stand on stage and proclaim this false premise. But it’s false. The truth is, “money comes to me because of what I think (and thus, how I feel). Which leads to step #2….

2) Tune to abundance. To explain this, I want to take a step back and repeat the truth from above, “money comes to me because of what I think and thus how I feel.” Most of us are observers of life and we observe the absence of money in our bank accounts or the absence of choice because of a lack of money. And so it’s also true that the absence of money comes to me because of what I think and thus how I feel. The good news is that you don’t HAVE to observe “what is.” You have the ability to tune to abundance instead. How do you tune to abundance? By noticing and appreciating what you have. By appreciating the overwhelming amount of well-being on this earth. By enjoying the works of art in a museum that you didn’t create. By enjoying the beautiful architecture of a 300-year old church that you didn’t have to build. By enjoying incredible music that you didn’t write. By walking in a forest and enjoying the song of nature. There are sooooooooooo many ways to tune to abundance. Get curious about how abundance would feel. Ask yourself, how would you feel if you woke up in the morning and your bank account had way more than enough to cover your monthly bills and pay off all your debt? Let yourself go there. You tune to abundance by feeling it. Give yourself the luxury of feeling it.

3) Bless your bills and change your perspective on the flow of money. Have you ever scoffed at someone spending what seemed to you an exorbitant amount of money for something? That’s exactly your opportunity to bless the expense and shift your perspective on money and the flow of money. When someone spends $100,000 on a diamond ring, you might first think that’s ridiculous and a complete waste of money…which is your scarcity mindset speaking. Why not think about how many more people will be positively affected by the flow of that larger sum of money. When someone spends $1,000 on a diamond ring, there is a wonderful flow of money. But when someone spends 100 times that on a diamond right there’s a much greater ripple effect from the flow of that money. How wonderful is that? The same is true for your bills. The next time you get a bill in the mail that freaks you out or pisses you off because it seems too high, shift your perspective. Bless the bill and see the positive ripple effect of that flow of money.