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This Is How Thinking About Abundance Has Helped Me Build a Success Mindset Entrepreneurs need to overcome the scarcity mindset.

By Scott Oldford Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.


If you want to scale your business in 2018, there is one thing you need to upgrade on a near daily basis. It isn't your marketing, sales or operations, and it has nothing to do with Facebook Ads, marketing funnels or social media.

Related: The 10 Traits That Define Entrepreneurial Success

The one thing you have to consistently keep growing is your mindset.

But, this isn't about personal development, yoga or meditation. This is about escaping the scarcity mindset that society has created over the years. This is the mindset the vast majority of people are stuck in, as they fear there isn't enough to fulfill their dreams.

If they want something it has to be at the expense of another. There isn't enough in their world, so they are afraid to take a risk, challenge the status quo and step outside of their comfort zone.

But, as an entrepreneur you are part of the 1 percent, so you cannot think like this. You are part of the 1 percent that must escape this scarcity mindset, because the other 99 percent rely on you to progress and innovate.

In a scarcity mindset, you will not achieve this. So, one of your biggest duties as an entrepreneur is to discover, accept and embrace an abundance mindset so you not only create abundance for yourself, but for others, too.

Related: 10 Things Successful People Tell Themselves Every Day

Abundance breeds freedom.

Without true freedom all you will do is remain in "hustle mode," and Instead of becoming the king or queen inside your business, you'll constantly worry about what's in it for you.

This is a problem, because so long as you're worrying about where the next dollar comes from, you will never be able to unleash your "why" onto the world.

This "why" is what separates you from everyone else, and holds the key to achieving the business you desire. But, the only way to have this "why" is to be free, and the only way to become free is to enjoy abundance every single day. Abundance allows you to think about the big picture and how you truly impact those you serve. It lets you imagine the impossible instead of how you can continue to just "get by."

Related: The Most Common Habit of Self-Made Millionaires

Abundance leads to fulfillment.

Once you step into your "why" and start focusing on the big picture, something amazing happens because you begin to feel fulfilled. Fulfillment breeds contentment in ways you have never experienced before, which leads you to happiness (in your work and your life).

When you break down what you want as an entrepreneur, isn't it this?: Freedom, fulfillment, happiness.

Isn't the reason you do what you do is so you can have a massive impact on those you serve and change the world in a way only you can? No matter how big or small this impact is, it's this notion of impact that fuels your motivation, desire and purpose.

The only way to have this impact is to live-and-breathe freedom, fulfillment and happiness, and this all begins with abundance; an abundance mindset instead of a scarcity based one.

Related: 10 Quotes to Help You Not Suck and Be Awesome, According to an Awesomeness Expert

Why are most people afraid of abundance?

Most people are afraid to live a good life. This may sound strange, but it's true because they are afraid to escape their scarcity mindset, challenge their beliefs and commit to leaving a meaningful impact on this planet. The reason is, we were all brought up to believe there's only so much pie. Our parents, teachers, society as a whole taught us there's only so much to go around.

This is not true!

For you and me, there's a limitless amount of pie because we can always go out and create more value. This is abundance. There is no limit to the value we can create and distribute, so long as we have the creativity and ability to create this value. Because of this, there's always an abundance of money, opportunity, resources and impact (for us and those around us).

Related: 10 Podcasts That Can Change How You Think About Life

Abundance creates true success.

I often write and talk about how you need a seven-figure business to fulfill your version of success in today's fast-paced world. But, you don't need this because of the money it brings, rather the impact you will create on the back of this.

The fact is, you need profit to have the impact you desire. You need money and you need a scalable, profitable, successful business to make this happen. Without this, you will struggle to live your "why" and have a meaningful impact on those you serve -- you will simply keep going around and around the six-figure hamster wheel, feeding your scarcity mindset as you do.

So you see, you aren't building an abundant mindset to make money or lead a fame-filled lifestyle. The lifestyle is nice, as are the fancy cars and things you can buy. But, the real reason you need an abundant mindset is because it breeds the freedom, fulfillment and happiness you need to achieve your "why."

Related: 50 Thoughts That Can Motivate You to Do Anything

This "why" allows you to build a profitable business that unleashes the impact only you can unleash. This is the reason you are here, and this is the reason you are part of the 1 percent who do not play by the same rules as everyone else. So, if you know you're afraid to let go of your scarcity mindset, I challenge you to fight it and become part of the 1 percent, because abundance breeds abundance.

You will elevate your own business to the next level, but you will also impact and inspire others to follow suit (those people you serve: your team, customers, partners, family ...).

We have all been lied to our entire lives.

The pie we're fighting for is infinite, as are the opportunities that await us. Your job as an entrepreneur is to discover this, accept it and embrace the abundance. So, let go of what holds you back, and get back to work.

Related Video: 5 Steps to Develop a Mindset of Success

Scott Oldford

Entrepreneur Leadership Network® Contributor

Mentor, Advisor & Investor for Online Entrepreneurs

Scott Oldford has helped build and scale countless 6, 7 & 8-figure online businesses in the education, certification, coaching, consulting and courses niche.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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