By Carmen Gigar

Defined as plentiful and having ample quantities of resources, abundance is a mindset that can affect how you respond to adversity. Focusing on abundance means you are engaged in activities that raise wealth for everyone you encounter. In business, abundance can be a creed to lift the lives of your employees, vendors, suppliers, and customers with every interaction.

Establishing an abundant mindset can start early. “Stanford psychologist Carol Dweck examined mindsets among young students. She found that children who have a growth mindset that intelligence can be developed are better able to overcome academic challenges than those who have a fixed mindset that intelligence is predetermined” (, 2020). The opposite of abundance, scarcity can be just as pervasive. “Scarcity mentality refers to people seeing life as a finite pie, so that if one person takes a big piece, that leaves less for everyone else” (, 2020).

“A scarcity mentality is what keeps many of us from achieving our goals. An abundance mindset refers to the paradigm that there is plenty out there for everybody” (, 2020). Supported by Stephen Covey in his best-selling book The 7 Habits of Highly Effective People, abundance must be practiced for it to become a solid foundation. There are five ways to establish an abundance mindset that can affect your entire life.

  • Be mindful of what you have instead of focusing on what you don’t have.
  • Make sure your circle of influence is filled with others who have an abundance mindset.
  • Focus on creating mutually beneficial interactions
  • Be grateful
  • Train yourself to see opportunities instead of obstacles

When you are mindful of what you have and stop focusing on what you don’t have you are more likely to learn and be open to new possibilities. While not every situation may be filled with potential there is something positive you can take from every interaction.

The people you interact with most are going to influence you greatly. If you include positive and abundant-minded people in your daily lives you can further improve your mindset. When your peers, mentors, and advisors are focused on abundance you are more likely to adopt the right habits.

Create engagements that result in win-win outcomes. With a scarcity mindset often someone in the interactions loses or fails to get their desired results. When you focus on creating mutually beneficial relationships and interactions both parties walk away with more than they started with.

If you are grateful, you engage in gratitude you are focused on the positive. “Practicing gratitude is one of the most widely recognized methods for improving one’s overall well-being” (, 2020). Writing down what you are grateful for every day, even the smallest things, keeps you focused on what is possible.

Finally, creating these rituals will help you identify opportunities instead of only finding obstacles. Looking for what is possible means you are open to learning and can add skills like critical thinking that will make you more effective in work and your personal life.

Ultimately it is your choice to focus on abundance instead of scarcity. As a leader, manager, and colleague you can serve your business with the best of you. Being mindful of abundance means you are looking for ways to add to others’ lives in positive ways. Create habits to help you see the abundance available to you in every situation you face.

Working with a business coach can help you establish patterns and habits to grow your business abundance. Choose a business coach with proven systems and processes that can teach you how to develop a positive mindset. ActionCOACH is the world’s largest and most successful business coaching organization in the world. With more than 1100 coaches in more than 80 countries, join a group coaching membership program to begin your abundance journey.

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