In a recent edition of Bush Bites, I covered my take on VITAMINs – an analogy I created that compares the health supporting nutrients of vitamins to factors of financial success. Each of the letters of VITAMINs represents a different concept, be it value, time, interests rate of growth or your personal network. I will expand on these in coming Bush Bites and in greater detail in my soon-to-be released book the Freedom Formula.
But I wanted to cherry pick one section of this acronym and expand on it now. In VITAMINs, M stands for mindset, and I roughly model my approach on a popular concept known as the ‘abundance mindset’.
You’ve probably heard this phrase before, but where did it come from and why is it so important?
Originality popularised by Stephen Covey in his famous book The 7 Habits of Highly Effective People, the abundance mindset is a simple idea that stands counter to what Covey called the ‘scarcity mindset’.
Scarcity thinking puts everything in zero-sum terms. There is only so much to go around, so if I want to get what I want, then I must beat other people to the resources, investments, relationships or opportunities.
The other side of this coin is abundance. The abundance mindset:
Flows out of a deep inner sense of personal worth or security. It is the paradigm that there is plenty out there and enough to spare for everybody. It results in the sharing of prestige, recognition, profits, and decision-making. It opens possibilities, options, alternatives, and creativity.
Channeling this approach has made a tremendous difference in my business and personal life. But this didn’t occur organically with no effort at all. It required a bit of elbow grease. If you’re wondering how to improve your perspective or shift paradigms altogether there are a few things you can do.
- Offer appreciation or gratitude – Do this to friends, colleagues and with yourself in terms of what you focus on. This is one of the quickest ways of going from a life that feels lacking to one that is overflowing with abundance. This is part of my daily morning routine.
- Develop your reframing skills – You don’t have to be a die hard optimist, but sometimes taking a step back and looking for the opportunity can help you keep your mindset right. Remember happiness is a choice not a circumstance.
- Stop comparing yourself to others – It’s human nature to a degree, but it’s generally not helpful to anyone and arises from the feeling that there is only so much to go around. Fight it at all costs.
- Be cognisant of the company you keep – The people around you have an enormous impact on your outlook. Be around the right type of people and an abundance mindset will flow naturally from a spring of positivity, optimism and self-reflection.
This stuff might sound pie in the sky to some people, but I can tell you it’s tangibly affected the quality of my life. I share it not to proselytise people to my way of thinking, but to offer tips and advice to help you achieve your property and life goals. Abundance mindset is a great tool, use it however you see fit.