I first learned about the scarcity mindset from Stephen Covey’s book The 7 Habits of Highly Effective People.
Most people are deeply scripted in the scarcity mentality.
They see life as having only so much, as though there were only one pie out there. And if someone were to get a big piece of the pie, it would mean less for everybody else.
The scarcity mentality is the zero-sum paradigm of life.
People with a scarcity mentality have a very difficult time sharing recognition and credit, power or profit, even with those who help in the production.
They also have a very hard time being genuinely happy for the success of other people.
The scarcity mindset revolves around the idea that there simply is not enough to go around.
There can be only one increase at work and if one person gets it, everyone else cannot have it.
Scarcity mentality creates the culture of “never enough.” We always seek more because we feel if we do not amass more and more, we won’t get the opportunity again.
Scarcity mentality says if I win, someone has to lose, and if someone is winning and succeeding it means I’m stagnant and losing.
Scarcity mentality says if I’m elected a leader, I have to amass wealth as much as I can because I have a limited period on this position. If I have not amassed enough, I will have to extend my stay in position and create an impression that I am the only best person for the position.
Scarcity mentality say if I am an entrepreneur, I have to exploit and pay as little as possible to my employees and service providers because that way I will be seen to be ruthless and wealthy, and only the ruthless survive in business and only the wealthy are respected by society.
Scarcity mentality says there can only be one person among my friends who drives a fancy car, stays at the right address, and that person should be me.
Scarcity mentality says I only live once, and that means I have to have fun while I’m still young. If I do not party now when I am young, I will never have the chance to party later.
Scarcity mindset always focuses on the extreme short term of every decision. It focuses on the smash and grab, the one hit wonder.
Scarcity mentality forget that you don’t live once, but you live everyday.
Scarcity mentality forgets that you have to work hard now to earn your success later.
Scarcity mentality forgets to remind you that if your business fails, it is not the end, there will other businesses that you will start and succeed.
Scarcity mentality forgets that the pie is enough for everyone.
The beauty about the connection economy and the pie is that even if the pie is small, you have the opportunity to bake your own pie and stop fighting for a single pie with too many hands on it.
There is an abundance of opportunities, and you will see them once you change from scarcity to abundance mentality.