How we see ourselves and the world can affect everything – what we want from life, the opportunities we take, our relationships with others, our career trajectory…everything.
Our mindset drives the way we feel, think, and behave. It’s a lens through which we interpret the world, and shapes how we respond to it. Crucially, it’s a key determining factor in how successful we’ll be in life.
Various mindsets have been identified, for example, growth, fixed, money, entrepreneurial, positive, negative, and productive. Here, we will discuss one proposed as part of a broader approach to becoming a highly effective person.
“Our environment, the world in which we live and work, is a mirror of our attitudes and expectations. Your living is determined not so much by what life brings to you as by the attitude you bring to life; not so much by what happens to you as by the way your mind looks at what happens.”
– Bob Proctor
What Is an Abundance Mindset?
In his influential book, ‘The 7 Habits of Highly Effective People’, Stephen R. Covey defined an ‘abundance mentality’ as a key character trait (along with integrity and maturity) needed to effectively practice habit #4 – thinking win/win. It’s a paradigm, a plentiful worldview, where there’s enough to go around for everyone.
Those with an abundance mentality believe there are enough resources, success, wealth, choices, and happiness to go around.
Their world emphasizes opportunities and possibilities, rather than lack and limitation. They operate from a place of optimism, openness, and a deep-seated belief they can create and contribute without fear of scarcity.
An abundance mindset involves recognizing the value in everyday experiences and seeing the potential to build and share wealth, knowledge, and relationships.
Terminology – ‘Mentality’ to ‘Mindset’
The 7 Habits book was first published in 1989 and it’s still as relevant today as it ever was. That said, I think the most used term today is “Abundance Mindset” rather than “Abundance Mentality.”
On Facebook, for example, there are 725k posts featuring #abundancemindset, compared to 65k featuring #abundancementality. Similarly, on TikTok, it’s 198.2k vs 8.4k respectively. And on Instagram, it’s 1.8m posts vs 220k posts.
8 Signs of an Abundance Mindset
You might be wondering how to recognize whether someone has an abundance mindset, or how many boxes you tick. Here are some behavioral indicators of an abundance mindset:
1) Generosity
You’ll notice their willingness to share their time, resources, and knowledge with others. And this last part is essential… without expecting anything in return.
2) Sense of Self-Worth and Security
They believe in their value and capabilities, not negatively comparing themselves to others.
3) Committed to Self-Improvement
A passion for learning and self-improvement is at the core of their existence. Always seeking to expand their knowledge and skills, because they know that the world is abundant, and their effort will reap rewards.
4) An Optimistic Outlook
Believing that positive outcomes will eventuate, they view challenges as opportunities for growth and don’t fear change.
“An attitude of positive expectation is the mark of the superior personality.”
– Brian Tracy
5) Positive Relationships
Building and maintaining supportive and encouraging relationships, celebrating others’ successes.
6) Lives in the Present
This means to live in the present moment and appreciating the here and now. Rather than worrying excessively about the future, they understand that their power lies in the present moment, which is all anyone has control over. Now is when you can take the opportunities that can shape your future.
“The time is now, the place is here. Stay in the present. You can do nothing to change the past, and the future will never come exactly as you plan or hope for.”
– Dan Millman
7) Resilience
Someone with an abundance mindset will bounce back from setbacks and failures with a positive attitude. Rather than be crushed, they’ll look to learn lessons from the experience and improve their capabilities as a result.
8) Long-Term Thinking
They focus on long-term goals and values rather than seeking immediate wins or gratification. If you’re familiar with the Eisenhower Matrix, the abundant mindset would spend enough time in quadrant two (schedule) to ensure long-term success.
This is a huge indicator and something I’ve experienced personally being around those with a scarcity mentality, who can spend most if not all their time in quadrants one and three.
Scarcity vs Abundance Mindset
Covey makes the point that most people are scripted in the opposite of abundance – a Scarcity Mentality:
- There’s only so much to go around; the one existing pie is limited in size.
- If one person gets more of that pie, there’s less for everyone else.
- It’s a zero-sum, win-lose approach to life.
Emotionally, the fear of not being able to gain a large enough slice of the pie can be a source of anxiety and stress. Likewise, feeling like one is in a state of constant competition can give rise to negative emotions including envy.
Those people can be difficult to be around and don’t often make the best friends or colleagues.
In contrast, an abundance mindset allows an individual to recognize their capabilities and understand that by empowering themselves and others, can create a ripple effect of positivity and growth. So, it’s a collaborative and benevolent mindset.
| Abundance Mindset | Scarcity Mindset |
|---|---|
| There are enough resources to go around; we can all succeed (win/win) | The size of the pie is limited, if you win, others are going to miss out (win/lose) |
| Sees opportunities and possibilities | Sees lack and limitation |
| Has a deep sense of personal worth and security from within | Harbors feelings of insecurity, compares to others, seeks external things to increase sense of worth |
| Believes there is always more to learn, and self-growth is part of life | Sees their abilities are fixed, must prove themself as there are |
| Views challenges as opportunities for growth | Fears change and new opportunities |
| Happy when others succeed and celebrates with them | Feels threatened by others’ success |
| Positive, hopeful, supportive, collaborative | Negative, fearful, selfish, competitive |
11 Tips on How to Develop an Abundance Mindset
Cultivating such a mindset can’t be achieved by wishful thinking alone. Tangible steps are needed to put abundance at the core of your belief system and integrate it into your everyday life:
1) See the Possibilities
An abundance mindset sees the possibilities in any scenario and believes there are enough opportunities and resources for everyone. It means:
- Focusing on what can be achieved rather than what can’t.
- Viewing challenges and setbacks as positive opportunities for growth.
People with an abundance mindset are more likely to embrace change, take risks, and collaborate with others, seeing the potential for mutual benefit and success.
As Covey says of an abundance mindset in 7-Habits:
“It recognizes the unlimited possibilities for positive interactive growth and development, creating new third alternatives.”
Those choosing an abundance mindset give themselves a life advantage by being open to learning, innovation, and seeing the good in situations. All of which helps them recognize and seize opportunities that others might overlook.
Accept that you’ll be faced with changes in your life, and rather than putting up a fight or rejecting them altogether, try to see it in terms of possibilities, something to feel grateful for.
“Change is not merely necessary to life – it is life.”
– Alvin Toffler
Change can be difficult and requires a certain ability to roll with the punches because it may not bring anything desirable on the surface. It might just be that an important life lesson is to be learned. Perhaps the change will help to build your resilience, helping you to become the person you need to be for your next big challenge in life. If you aspire to be a senior leader, for example, a level of resilience is required which is often the result of overcoming challenges.
2) Practice Gratitude
Gratitude sits at the core of an abundance mindset and can profoundly change how you perceive your world. It shifts focus from what’s missing (the lack and scarcity) to how fortunate you are for what you already have. Take some time out of each day to appreciate what you have.
You only need to start with small acknowledgments and let that grow into a habit of grateful reflection; many experts recommend a morning ritual but decide what works best for yourself.
Daily reflection on the aspects of life you’re thankful for can shift your focus from scarcity to abundance.
Everyday life is filled with stuff that can spark joy. Take the time to notice these mini-moments, and mindfully appreciate the mundane—like savoring your morning coffee or enjoying the tranquillity of a walk. These practices help you recognize that there’s plenty to be grateful for, often, and can cultivate a sense that life is abundant and giving.
“If you want great things to come into your life, you have to first be overwhelmingly clear about the great things that already exist in your life. You have to give them your energy and attention.”
– Lisa Nicholls
3) Think Win/Win
Back to where we started with the 7-Habits book – the inextricable link between the abundance mindset and a Win/Win frame of mind. And more importantly, you must act on this way of thinking.
“Win/Win is a frame of mind and heart that constantly seeks mutual benefit in all human interactions. Win/Win means that agreements or solutions are mutually beneficial, mutually satisfying. With a Win/Win solution, all parties feel good about the decision and feel committed to the action plan. Win/Win sees life as a cooperative, not a competitive arena.”
– Stephen R. Covey
4) Visualize What You Want in Life
Visualization is a powerful technique in personal development, goal setting, and manifesting. It brings forward the future state, allowing you to focus on how you want things to be.
You might be wallowing in a scarcity state of mind right now, but with a willingness to transform and see the world more abundantly, visualization is an effective method that can bring that to life in your mind right now. Practice visualization regularly, seeing yourself achieving goals, and feeling the emotion associated with the outcome can help you maintain focus and drive you toward where you want to be.
Living with a scarcity mindset can come with a degree of stress and anxiety. Positive mental imagery can help to alleviate those feelings and improve wellbeing. Another benefit is the confidence that comes with rehearsing success by reducing the fear of failure.
“A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power.”
– Brian Tracy
5) Develop a Growth Mindset
In her landmark 2007 book, “Mindset: The New Psychology of Success”, Carol Dweck Ph.D. describes two contrasting mindsets:
- Fixed Mindset
- Growth Mindset
Those with a fixed mindset believe that their intelligence, traits, talents, and abilities are set in stone and cannot be improved. Their capabilities are innate, they fear challenges and are resistant to change.
A growth mindset is differentiated by the belief that intelligence, traits, talents, and abilities are things that can be enhanced through effort and learning. With a continued focus on acquiring knowledge and developing new skills, challenges become a chance to learn and change simply a doorway to fresh opportunities. As you grow as a person, the world itself becomes more abundant with possibilities.
6) Practice Mindfulness
Mindfulness is a powerful tool in maintaining and enhancing mental wellbeing. It can be defined as, “The practice of being aware of your body, mind, and feelings in the present moment, thought to create a feeling of calm” – Cambridge Dictionary
So, it involves staying present and fully engaging with the here and now and not affected by distractions and things happening around us. Meditation is a common way of practicing mindfulness (guided and unguided), or an activity such as yoga. But it can be much less formal, such as sitting on public transport and tuning out (rather than staring at a device).
Detaching from the daily grind gives mindfulness practitioners a chance to clear the mind, to suspend activity such as the need to respond or react to demands. Instead, focusing inward, giving attention to our own mind.
Meditation can help to reduce stress and anxiety, depression, and chronic pain (Headspace). Personally, I find guided meditation particularly effective. There are even guided meditations that are specifically focused on abundance! With a mind cleared of stress, it’s much easier to focus on the positives in the world, and to take on core beliefs such as the notion of there being plenty for everyone. And, consequently, moving away from a scarcity mentality.
7) Be Supportive and Generous to Others
This recommendation is about our attitude and actions towards others. There are three and done consistently, can help to nurture your own abundance mindset:
Celebrate their achievements
An abundant mind knows that there’s enough to go round and internally, is genuinely happy for others when they achieve success. The second part is to communicate it to the person you’re celebrating, privately or publicly, depending on what’s appropriate. If this doesn’t come easy at first, practice and see that only good can come from celebrating someone else’s success.
Share with others
There’s no better way to prove to yourself that there’s enough for everyone than sharing with others. In what forms? Encouragement and kindness, your expertise, access to your personal and professional networks, sharing your resources (things you own or have access to), and perhaps the most valuable thing of all, your time. This generosity will often come back to you, even if it’s delayed.
Wish abundance for others
Quite the opposite from wishing ‘acceptable’ misfortunate on others, as described in the 7-Habits book. Genuinely wishing the best for others can not only help to shift you from a scarcity to an abundance mentality, but it also has a spiritual effect.
“You’ll quickly see how wanting more for others puts you into an energy of abundance! It feels good to want others to feel good. The simple practice of wishing for others to receive will put you into an energy of receptivity, and this feeling of abundance will rapidly begin to attract more of what you want into your life. When you genuinely want others to be abundant, your good fortune will multiply.”
– Gabrielle Bernstein
8) Keep the Company of Those Who Lift You
At a minimum, avoid people who bring you down. Those who, by being around them, you find yourself sinking into a more negative frame of mind. Seek out the company of people who inspire and encourage your growth, and in turn, be that source of support for others.
Look for those who see their world through a positive lens, and if you can, people who have achieved in the way you wish to achieve, and who view their life as a journey with endless possibilities.
In other words, surround yourself with people who have abundance at the very heart of their belief system, those who live and breathe that mentality every day.
9) Tackle Limiting Beliefs With Affirmations
Self-limiting beliefs are common. Most, if not all people experience them to some degree in their lifetime.
It’s a perception of yourself, a bias, a state of mind that holds you back in some way. These come in different forms, for example: Perhaps you feel that you can’t take on a challenge you’re faced with; are unable to do what might be considered an everyday task; or maybe you’re unable to disengage from negative self-talk.
It could be anything. The bottom line is, limiting beliefs can be a very large roadblock on the road to fulfilling your potential.
Affirmations are positive statements about yourself, typically (but not always) beginning with ‘I am’. Here are some ideas to get you started:
- “I feel positive, confident and enthusiastic about the day ahead.”
- “I have the confidence to articulate and back my own opinions, even if others don’t agree.”
- “I am doing the absolute best that I can, and that is all I can ask of myself.”
- “I accept my flaws because I understand that like everyone, I am a work in progress, and it’s okay not to be perfect.”
- “I am worthy of an abundant and prosperous life. My thoughts, intentions, and actions will get me there.”
- “I am worthy and deserving of opportunities to make my biggest dreams become a reality.”
- “My self-esteem, confidence, and inner wisdom are growing every day.”
10) Celebrate the Small Wins
It’s quite natural to want to celebrate the big achievements – a large project on the work or home front, completing a course, winning at a sport or activity you participate in.
Recognizing those significant accomplishments feels good, especially when celebrating with other people. The issue with only allowing yourself to revel in the big wins is that they only happen so often.
Celebrating the small wins helps to reinforce that the world is abundant. That you are achieving success, even if it’s in bite-size chunks.
Read our list of small wins quotes…
11) Manage Your Time
Time deserves a special mention here because while it’s inspiring to view the world and its resources as infinitely abundant, realistically, time has some unique constraints.
“The most precious resource we all have is time.”
– Steve Jobs
Your time is precious and managing it with care is a sign of someone living abundantly. By assessing your priorities and aligning them with your daily tasks, you create space to focus on what’s truly meaningful.
For instance, use a simple budget for your finances, a planner for your schedule, and get familiar with some time management techniques (Pomodoro, Eat the Frog, Biological Prime Time, the Eisenhower Matrix etc.)
Actions like these embody the principle of abundance by ensuring that not only do you have enough time to meet your own needs, but you can also share your most precious resource with others.
Abundance Mindset Quotes
“The Abundance Mentality … flows out of a deep inner sense of personal worth and security. It is the paradigm that there is plenty out there and enough to spare for everybody.” – Stephen R. Covey
“Most people are deeply scripted in what I call 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.” – Stephen R. Covey
“You can become instantly successful with a simple thought, but long-lasting and pronounced success comes to those who renew their commitment to a mindset of abundance every minute of every hour of every.” – Bryant McGill
“Adopting a ‘growth mindset’ is crucial to developing an ‘abundance mindset.’ When you believe in personal growth and your ability to learn and change, you give yourself more chances to learn and grow. When you see problems as opportunities to learn and loss as a step toward success, you face life with optimism and resilience.” – Gabrielle Townsend
Our mindset determines our reality. When we believe in abundance, we attract more of it into our lives. Excuses are the chains that bind us to scarcity.” ― Farshad Asl
Abundance is not the result of unlimited opportunities or resources. It is manifested by limitless thinking, a courageous spirit, and a grateful, receptive heart.” ― Anthon St. Maarten