Abundance Mentality vs Scarcity Mindset—100 Mental Models #100 👽
The core mindset of capitalism.
An abundance mentality sees there are enough resources and successes to share with others. A scarcity mindset thinks that if someone else is successful it means you lose.
Imagine you’re a lawyer who just graduated law school. With a scarcity mindset, you will see your graduating classmates only as competition for the legal work available in your city. You will not want to work with them.
But with an abundance mindset, you will recognise that there is likely a growing amount of legal work in your city, and if not, there is definitely more legal work available in nearby cities. You will see your graduating classmates as resources, who can help you deliver a better legal service, and whom you can help. While your portion of the business profits will be smaller, the overall businesses profits will be larger — and you will make more money.
“Let not your mind run on what you lack as much as on what you have already.” — Marcus Aurelius