Abundance vs. Poverty Mindset

Your mind is such a powerful thing, and what you breed within that space determines the quality of your actions, decisions, and ultimately the quality of your life.

This assertion is backed by research. Carol Dweck, a Stanford psychologist, discovered that after observing a group of young students who believed they could develop their intelligence, they often navigated academic challenges better than their peers who had a fixed mentality about intelligence being predetermined.

Another research from Yale confirms that adults with a positive mindset often lived some 7 to 8 years longer than peers who adopted a less positive mentality.

So, a positive mindset improves your odds of overcoming challenges and could prolong your life.

Abundance vs. Poverty Mindset: What is the difference?

People with a poverty mindset often view life as a finite thing. If one person takes a piece, it leaves less for other people. You will find that this type of mentality thrives in the corporate world. There’s rarely promotions and raises, and supervisors often micro-mange their staff. Some hoard information and resources from their colleagues.

This thinking is self-limiting and keeps many people from achieving their goals and ambitions. It impedes the progress of many people and stunts their growth.

On the other hand, people with an abundance mindset realise that there is plenty enough to go round.

Can I switch from a poverty mindset to an abundance mindset?

Yes! Like you can swap your old lenses for new ones, you can switch to an abundance mindset. How do you begin? Follow these steps:

• Focus on what you have. Poverty mindset stems from fixating on all the things you lack and the challenges that stand in the way of your progress. Rather than think to yourself: “It’s too late for me to start a new business,” or “ There are people with more experience than I have,” “what do I have to offer?” You should focus on the good in the situation. Think to yourself: “I have two decades of experience in this field. These life experiences can help me start a new business.” If you lost your job, instead of feeling down and succumbing to defeat, see it as life giving you all the time in the world to begin a new career or pursue a passion or collect new experiences.

• Choose a community with abundance mindset. As it is often said, iron sharpens iron. The people we spend the most time with often influence us. Their attitude rubs off on us. If we are surrounded by individuals with the poverty mindset, there is a huge chance you’d start to see the world the same way they do. A popular lifestyle coach, Tony Robbins says that quality of your life is usually a reflection of your peer group’s expectations. Do your friends and community inspire you? Do they have an abundance mindset? If the answer is no, find the right community.

• Think win-win. People with poverty mindset believe that for them to win, someone else has to lose. Change this thinking. Always find a way to create a win-win situation in all your dealings, whether in your professional or personal life. To do this, you will need to listen to the other party and respectfully communicate your expectations. Try to reach a mutually beneficial compromise by brainstorming on solutions together until both parties are satisfied.

• Practice gratitude. If you are grateful for what you have, you’ll always have more. But if you focus on what you lack, you’ll never have enough. Gratitude has been proven by research to improve mental and physical well-being. It also improves the quality of your decisions.

• Focus on the possibilities. An abundance mindset allows you to recognise what others are often oblivious to. Where others see difficulties, you will see opportunities. A Harvard study confirms that our beliefs condition the brain. When you consistently think, “I cannot do this,” “It’s just impossible.” Your brain establishes it as a fact and throws out any thought that contradicts this negative narrative. Instead, feed your mind with positive thoughts. After all, thoughts become things.