How To Go From a Scarcity To an Abundance Mindset. This changed my life.

[BizyDad]

If

If is a powerful word.

Makes it seem like you've covered all the bases, when in fact your argument depends on a specific set of circumstances.

I appreciate the clarification, but I still don't agree with it. Let me try another approach.

I can openly say that this is my opinion and that I am a nihilist in some sense. To me, everything just is and it's my responsibility to deal with it if the current "is" is not what I want it to be.

I think we agree it is your right to have that opinion. To me, that is another self evident right of people.

Who granted you that right? Who "promised" you that you could have and form your own opinions?

And who do you think is responsible for seeing to it that you get to keep that right?

Lastly, just to clarify my point, I don't think the right to life entitles people to whatever house they want. I wasn't objecting to your point about housing...

 

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[Anon45x4yB]

Like I said, unpopular opinion, but I'm not afraid of voicing unpopular opinions. I stand by what I said, in roughly 30 years of being an adult, I have seen house prices rocket at roughly the same rate as homelessness.

Did you see that viral video of that Canadian woman going round? She is on a decent six-figure salary and can't afford to live in her city any more.

So my point is people need places to live and if prices keep rocketing way past what people can afford, the amount people have to earn just to live somewhere half-decent becomes astronomical. For example, in the UK where I live, in 1969, three years before I was born, the average house price was £4000 and the average wage was £1600, about 2.5 times earnings. This means you could save half your pay packet for four years and buy a house for cash. Or as most people did in those days, save for two years and then get a mortgage.

Now the average house price is £280,000 and the average wage is £33,000, eight times earnings and the average rent is about one-third earnings. So your chance of buying a house on average earnings is now no longer possible.

If I had a magic button, the two areas off limits for capitalistic runaway profits, would be the housing and medical industries. Some things are more (or at least should be) important than profit.

Blah blah poo poo

 

[Subsonic]

If is a powerful word.

Makes it seem like you've covered all the bases, when in fact your argument depends on a specific set of circumstances.

I appreciate the clarification, but I still don't agree with it. Let me try another approach.



I think we agree it is your right to have that opinion. To me, that is another self evident right of people.

Who granted you that right? Who "promised" you that you could have and form your own opinions?

And who do you think is responsible for seeing to it that you get to keep that right?

Lastly, just to clarify my point, I don't think the right to life entitles people to whatever house they want. I wasn't objecting to your point about housing...

You got me

 

[Happyheart]

Unpopular opinion incoming...

Whilst it's great for profit, what you described is the cancer that is killing the Western world, unless my 12-year-old grows up to be a deca-millionaire, or I manage to buy a house and leave it to her, there is zero chance she'll be able to afford a house.

There are entire neighbourhoods in London owned by French bankers and Russian oligarchs, none of the houses are occupied and are constantly up for sale, whereby new owners do exactly what you describe above.

It's the most detrimental element of capitalism, homes disappear and in their place property springs up, The difference being one is for living in and the other an investment vehicle.

I don't usually agree with Chinese social policies, but the one I think they've got right, is the restriction they put on second homeowners, you can't charge more than 10% of your mortgage in rent, therefore people don't buy to rent, which keeps the property prices down and normal people can afford to live in places bigger than a shoebox.

Off-topic, but how can anyone read this forum and understand nothing about economics? Do you have any idea how the Chinese live? Talk about shoeboxes here.

Germany, especially Berlin is trying to keep the rent low by doing exactly what you describe:
1) reducing the amount you can ask per square meter - mandatory, while at the same time
2) making it very difficult to get non-paying or destructive renters out of your property, this can take up to 2 years
3) threatening to disown larger building/renting corporations
4) new buildings will have to conform to very expensive strict environmental standards with 0% emission and old buildings have mandatory environmental renovations, costing 20k for most houses.

Who is going to rent out their house, if the rent you can ask does not even cover the cost of maintaining it and you have to pay to have 40(now)-100%(soon) renewables installed once you need a new heating boiler?
Why would people want to build houses if they cannot gain profit from them?
And if you expect the government to do it, then show me something the government is more effective at than your run-of-the-mill business?

What you propose is exactly what was done in Eastern Germany and it led to the situation, where people could not afford to repair their houses, or renew the roof when necessary. I live there and was shocked when I first saw the houses there, 10 years after the GDR collapsed. Now after years of capitalism it is looking better, but people like you have illusory opinions which will only bring those times back.

 

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[biophase]

There is also no rule that you should get medical care regardless of your net worth. Doesn't mean there shouldn't be though.

Anyways, don't bother replying, I'm not trying to debate, I thought I had unwatched this and I'm still getting notifications.

I get it guys, you're all angry because I dared to give a different opinion on something. It's okay, you can all go back to being right about everything.

Peace X

I don't think any of us are angry. It sounds more like you're the one angry at us and at the world.

I spend my summers in a very small town of 5000 people. When I first came to this town in 2001, the real estate prices were crazy. But I didn't say to myself that I would never be able to afford it, nor did I blame capitalism. I formulated a plan to one day purchase a place in the town. In 2017 I finally purchased a place. It took me 16 years!

Today this town has a median price of around $900k and people here who rent or didn't purchase are complaining about the greedy millionaires and billionaires that drove the prices up. They could have purchased a home anytime within the last 20 years but did not. Why? Why did they continue to rent? Why didn't they formulate a plan? Why? Why? Why?

You know, I don't need to be right about things like healthcare or real estate. Fortunately, I have the funds to afford these things because I cared and worried about NOT being able to afford them. So I made it my mission to DO something about it.

 

[Kevin88660]

A lot of it has to do with how you define scarcity.

Many times, a scarcity mindset can be good because it gives a sense of practicality and being grounded.

It is like playing chess and games, do you prefer an aggressive style or a defensive style. There is no right and wrong.

Abundance mindset: I can drop out of college and start a business early to make millions, and come back to school later and finish it like Mark Zuckerberg.

Scarcity Mindset: I can start a side hustle outside the time . And when I choose my field of study I make sure I choose a field that makes me find a job easily to fall back on.

Scarcity Mindset: I only have 24 hours a day and I make sure I don't waste any hour of it. Let me start the day with doing work to start the day!

Abundance mindset: Productivity is not about hours of input. It is about being smart and creating leverage and outsourcing them (even though I haven't tried it yet.) Let me start the day with waking up for lunch and 1-2 hours of computer games!

Abundance mindset is a double-edged sword.

 

[MRiabov]

This is an important topic that I see, but I don't see often enough.

I know I haven't been on the forum much lately, but I feel I need to post this. This was life changing for me and can be life changing for you.

Most of you may know me as The Paint Brush Cover guy that was on Shark Tank. I started posting in this forum over a decade ago when I started with an idea then documented step by step almost daily. It held me accountable while motivating myself, motivating others and also getting some great feedback and ideas from members.

Most of you also may know that I sold my share for almost nothing just to get out of a failing business due to a few factors such as a bad partner, inexperience and, most importantly, a scarcity mindset.

All was not lost though. Everyone fails. Some big. Some small. You learn through failing.

In this case, I failed my way to success and this failure specifically led me to the path of a total mindset change.

The most important thing is that I didn't give up. I knew I would one day become successful. I just needed to figure out how and thankfully I became very close with a fellow gym member (who is now one of my closest friends) and completely changed my mindset about money. This was the key to changing everything.

This mindset switch, made me much better at sales, better at marketing, better at advertising, better at networking, better managing. It changed everything.

And it all started with annoying friend, who is now one of my closest friends.

Before I met Gil, almost my entire network was made up of blood sucking mindset leaches. You can't do this, you can't do that, you can't make that much money, money is bad, just put a big chunk in your 401k and you'll be set, you'll have a pension when you retire, blah, blah, blah, blah blah.

I was getting sick of hearing it and new I needed to level up. That's around the time I started following Craig Ballantyne who always says "Your Network is Your Net Worth".

I understood what he meant at the time but not fully. Now, I completely get it.

I started to say to myself "I need to ditch these leaches and move up to the next level".

When I met Gil, he was a high end watch dealer. Very successful. Amazing at sales. the guy could literally sell anything. He was so good, that he became Alex Hormozi's "Sales Guru" for Gym Launch in the early days when we had partnered and opened several gyms together.

His thoughts about money were completely opposite mine. $30k a month was a bad month for him. At the time, I was dreaming of a $10k month and thought that would be life changing. If only I could get from $5k per month to $10k per month, I would have it made. I wouldn't need anything else.

At that time, I also had this insanely negative perception of sales. Like it was a bad thing.

I also didn't think I would ever have what it takes to make a million dollars. I would constantly have negative self talk in my head.

This was preventing me from succeeding. This was the only thing preventing me from succeeding.

I was spending a lot of time with Gil when we met. Doing CrossFit, running races, doing extreme stuff like skydiving and hang gliding. Even though we were on different levels financially, we got along pretty good.

Except, we would argue all the time about money and thoughts on money.

He called out my scarcity mindset right away. And at the time, I didn't realize how bad it was. He did. And now that I look back, I'm blown away by how bad it was.

He was set on changing that and eventually he succeeded.

He kept on drilling my on abundance mindset.


Misconception - There's never enough money.
Abundance Mindset - Money is a renewable resource. With the right strategies, mindset, and actions, I can always earn more.

Misconception - Others' success takes away from my own potential success.
Abundance Mindset - There's enough success for everyone. Another's success can serve as inspiration and does not diminish my opportunities.

Misconception - I have to hold onto every penny, or I'll run out.
Abundance Mindset - Smart investments and spending can lead to growth. I can allocate resources in ways that lead to further abundance. The way I think now is instead of saving more money, I make more money.

Misconception - Money is the root of all evil.
Abundance Mindset - Money is a tool. It's neither good nor evil in itself but can be used for positive or negative purposes depending on one's choices. There are many really good things you can do with money from as little to making a waiter happier with a bigger tip to making huge donations to your favorite charities.

Misconception - I don't deserve wealth or abundance. This one really got me.
Abundance Mindset - Everyone deserves abundance and prosperity. By aligning my mindset, skills, and actions, I can achieve financial success.

Misconception - Financial success is purely based on luck.
Abundance Mindset - While some elements of luck can be involved, hard work, strategy, and a positive attitude play significant roles in achieving financial success. One of my favorite sayings is "You create your own luck".

Misconception - It's selfish to desire more money. At first, i was embarrassed to be wealthier than all of my friends. You can bet that changed.
Abundance Mindset -Wanting more resources can lead to greater opportunities not just for oneself, but to help others and contribute to larger causes. If I have more money I can help more people.

Misconception - Money will solve all my problems.
Abundance Mindset - Money is a tool to help address challenges and facilitate experiences, but it's not the only solution. Inner happiness, relationships, and purpose play critical roles in a fulfilled life.

Misconception - People with money are greedy.
Abundance Mindset - Wealthy individuals can be just as diverse in character as any other group. Money amplifies who you already are; it doesn't inherently make someone greedy. Gil always said that more money just brings out your true character.

Misconception - There's a fixed pie of resources, and if someone gets more, others will get less.
Abundance Mindset - The world is abundant, and opportunities and resources can expand. Innovation, collaboration, and creativity can grow the pie for everyone.

Misconception - Selling is bad. All salesmen are snakes.
Abundance Mindset - selling is a really good thing. You're giving the person what they need or desire. Ex: weight loss, healthier lifestyle, I nice watch to help improve their status or improve the perception of their status.

Shifting from a scarcity to an abundance mindset doesn't mean being unrealistic or ignoring challenges. It's about focusing on possibilities, being proactive, and recognizing that with effort and the right strategies, growth and prosperity are achievable.

One day, it just clicked. I finally said "Gil. You're right".

I'm go to do anything i can to started thinking with an abundance mindset. I picked Gil's brain more. Didn't argue with him. I read books. Watched videos. I hired a mentor. Meditated.

Ian Stanley's money meditations really helped a lot.

More and more my mindset changed. More and more I got better at everything I did. More and more money flowed to me.

Fast forward to today, I own a branch of a private equity firm, helped 1000's of business owners with covid tax relief, have 10+ sales reps working for me, over 20+ affiliates under me and have made in the multiple 7 figures over the past 3 years.

I am now in the process of building something BIG.

Within the next year, I plan on having 20-30 sales reps and hundreds, if not thousands, of successful affiliates working under me.

With my new abundance mindset, the skys are the limit. I dream big and have been surpassing my lofty goals.

I recently set the biggest goal of my life to make 8 figures+ and plan on hitting that goal within 2 years.

I credit this to one single thing. One simple thing.

A Mindset change. That's all.

And It's not that difficult to do.

Start hanging out with people better than you. Find someone that makes more money than you. Become friends with them. Notice how differently they think about money.

Find a mentor like Craig Ballantyne, or Bedros Keullien.

Start listening to podcasts. Bedros is great. Alex Hormozi, Brad Lea, Ed Mylett. There are so many.

Listen to the Ian Stanley money meditations on Youtube.

Instead of saving money. Think of ways you can make more money, solve more problems, help more people.

Like I said earlier, I thought $10k a month would be life changing. That when I would be like "I really made it". Then I had a $10k month with my gyms. Then a $15k month. Then I thought "If only I can make $20k" blah blah. Then I had a $30k month. Then a $50k month. Them I made $40k in one day. Then $100k. Then $150k. It kept going.

This past summer I had a $250k+ month. Now, If I make under $100k in a month, my mind starts thinking wtf I did wrong. I didn't help enough people. I got lazy. etc.

My thought process completely changed and now the sky is the limit.

I think this is very important for young entrepreneurs to hear because I don't hear it enough and it can very well be the one thing missing to get you to the top like it was for me.

For me the issue is the exact opposite, it seems. While I know there is virtually no limitation to the human being, execution, even after multiple mindset shifts is an issue... (although there was one from TGRRE - that if the motivation cycle is not closing, time to invoke the process has really helped.)

 

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[Likwid24]

For me the issue is the exact opposite, it seems. While I know there is virtually no limitation to the human being, execution, even after multiple mindset shifts is an issue... (although there was one from TGRRE - that if the motivation cycle is not closing, time to invoke the process has really helped.)

So this is not about motivation. It has nothing to do with It at all. This is for people who are in the process and having trouble getting past sticking points. They are already motivated. They just don’t believe they are worthy of money or some other self limiting money belief. This mindset shift can change everything.

 

[Antifragile]

For me the issue is the exact opposite, it seems. While I know there is virtually no limitation to the human being, execution, even after multiple mindset shifts is an issue... (although there was one from TGRRE - that if the motivation cycle is not closing, time to invoke the process has really helped.)

Think of it like a Lego.

To build a big structure you need to learn and get good at little structures.

People come to this forum, get stars in their eyes from reading books and want to go from zero to 100mph speed in seconds. The world doesn’t work like that.

Build a foundation first. Learn and practice discipline. You must be able to change yourself to be successful in business. That change is gradual.

Small Lego pieces then are put together into small structures that become bigger and bigger. You don’t build an elaborate castle day 1. You built it with practice. You’ll fail, adjust, try again, do better and better.

Same with execution of a business. Your problems today are typical of someone just starting. And believe me, you’ll come back to this thread in 5 years and see it entirely differently.

There are two ways to waste the most precious resource in the world - TIME.

1. By doing things you know you shouldn’t do.
2. By doing things you think are important but aren’t. Being busy for the sake of feeling good about being busy - but not productive.

It’s easier to fight #1. That’s where you are. At least you know your problem. Solution is discipline.

It’s hard to fight #2 because it requires you to know what is the best use of your time. Most people starting out aren’t even aware of #2.

Hope this helps.

Good luck.

 

[MRiabov]

Think of it like a Lego.

To build a big structure you need to learn and get good at little structures.

People come to this forum, get stars in their eyes from reading books and want to go from zero to 100mph speed in seconds. The world doesn’t work like that.

Build a foundation first. Learn and practice discipline. You must be able to change yourself to be successful in business. That change is gradual.

Small Lego pieces then are put together into small structures that become bigger and bigger. You don’t build an elaborate castle day 1. You built it with practice. You’ll fail, adjust, try again, do better and better.

Same with execution of a business. Your problems today are typical of someone just starting. And believe me, you’ll come back to this thread in 5 years and see it entirely differently.

There are two ways to waste the most precious resource in the world - TIME.

1. By doing things you know you shouldn’t do.
2. By doing things you think are important but aren’t. Being busy for the sake of feeling good about being busy - but not productive.

It’s easier to fight #1. That’s where you are. At least you know your problem. Solution is discipline.

It’s hard to fight #2 because it requires you to know what is the best use of your time. Most people starting out aren’t even aware of #2.

Hope this helps.

Good luck.

Ah, if only there was a definitive guide to life where you didn't have to pick out the information (like this one) over hundreds of days and weeks, and just read it.

But, I will admit: TGGRE got pretty darn close to that guide. Like, unexpectedly really close to it.

By the way... "if only" sounds like a need in the market. Someone older can fulfil it really well.

 

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[Black_Dragon43]

Ah, if only there was a definitive guide to life where you didn't have to pick out the information (like this one) over hundreds of days and weeks, and just read it.

What would be the fun? If everything were handed on a silver platter, you wouldn’t get to grow and become a bigger person.

There are no shortcuts in life. The moment you stop looking for shortcuts and start doing the work, you’ll begin making progress. It will be slower than you want — that’s 100% guaranteed. But it’s progress.

And while you’ll overestimate what you can achieve in a month, you’ll underestimate what you can achieve in 5 years. If you keep your head down and do the work.

 

[Antifragile]

Ah, if only there was a definitive guide to life where you didn't have to pick out the information (like this one) over hundreds of days and weeks, and just read it.

But, I will admit: TGGRE got pretty darn close to that guide. Like, unexpectedly really close to it.

By the way... "if only" sounds like a need in the market. Someone older can fulfil it really well.

Allow me to use your post to me as a teaching moment.

When I read what you wrote, here is what I am thinking (hearing from you):

• "Ah, if only there was ..." - you are using external locus of control. You wish it was easier in life. "If only" can apply to winning lotto, being born rich, handsome, with super brain and body and winning Olympics because of your genetic make up. It's also all flawed and false. This thinking is what is and will continue to hold you back from achieving things in life. Read this again please, let it sink in - your thinking is holding you back from having the life you actually want and will continue holding you back until such time when you decide to change.
• "didn't have to pick out the information (like this one) over hundreds of days and weeks, and just read it." A veiled compliment that's not a compliment by implication. There is a chance I am decades older than you and your compliment implies that because it took me decades to realize the things I am sharing with you, I should have looked for a shortcut too. Instead of having read a thousand books, I "didn't have to pick out information ___ over..." in my case - thousands of hours. Do you see how we differ? You wish it were easier, I wish I was better than my competition. Here's harsh truth: I am rich today because I did what my competition wasn't willing to do. There was no shortcut, I've invested thousands of hours to become who I am today. And with that, I can do things that bring value to our investors, our community in a way others cannot. Yet there are also people who bring even bigger value and they are also better rewarded for it. They did what I wasn't willing to do. They worked on becoming better when I didn't and so on...
• "didn't have to pick out the information (like this one)" - there is a genuine compliment to both me and MJ in your post. Thank you for validating that the time I took to write it led to the desired outcome - I want my work to be useful. It was useful to you, fantastic. Now, let's turn this around: how useful are your posts? How much time do you take to think, write, re-write, assess, change etc?
• "sounds like a need in the market. Someone older can fulfil it really well." One, it does not. It sounds like an excuse you use for the life you currently have. That does not make it a market. Two, age doesn't have anything with filling a need. If anything, ignorance that comes from youth can be a huge asset in uncovering a solution to a problem older folk can't. With age comes baggage of "knowing" how thing are and aren't. It can be hard to break that, youth allows you to bypass it through ignorance.

With that, what should you think and do?

• Aim to be the best, it's the only way I know how to become good.
• Your present situation is a direct result of your past decisions and actions: how will you actions now change your future?
• If you lived your typical week on repeat from this day forward, how will your life look like in 5, 10, 30 years?
• To do great work, aim to be useful. How do you know if something is useful? If it is something you'd use yourself, then it's useful. Don't overcomplicate it. Write something you'd want to read. Create something you'd want to use.
• Decide what you want to work, something you have natural aptitude for, a deep interest in and it has scope to be great. The way to figure out what to work on is by working. Guess, start and work on something. It'll be wrong some of the time. It will create bridges across different skills, that's how discoveries are made.
• Develop a habit of working on your own projects. Not something others tell you to do. That's a prelude to entrepreneurship.
• Let your own curiosity guide you. If you are genuinely curious about something, you'll have more energy to go deeper with it and stay with it longer. That's the only way you can chase the outliers (which is how Fastlane businesses are born).
• Think in steps: 1: find a field, 2: learn enough to be good, 3: find gaps that need to be filled, 4: test promising gaps for CENTS.
• To get good at something, it can take years. You may not even know you like it until you get good at it.
• Bad news: to figure out what to work on, you are on your own! No one will tell you. Some people get lucky and work on the right things earlier in life, others aren't so lucky. Yet their time isn't wasted. The test is if you get better and become more interested in the subject, it's the right subject. I'll repeat, curiosity is important. Maybe it's the most important thing, leave that to philosophers to figure out.

Your turn... share something you would want to read yourself!

 

[ensoniq2k]

So this is not about motivation. It has nothing to do with It at all. This is for people who are in the process and having trouble getting past sticking points. They are already motivated. They just don’t believe they are worthy of money or some other self limiting money belief. This mindset shift can change everything.

That's actually a really fascinating topic. I read about Dr. Van K. Tharp years ago, who coaches traders getting past monetary sticking points. If your subcontious determines your not worth a certain amount it will stop you and you don't even know why. Those traders just lost money until they were under a "worthy amount" again and then it all repeated. Most people can't even imagine such a phenomenon existing.

 

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[red360]

I hired a mentor.

Would you mind expanding on this? If I understand correctly, was the mentor you hired this Gill guy ? How would I go about finding a mentor to hire?
The only "mentor" I know are business coaches.

Thanks,

 

[MJ DeMarco]

mentor you hired

I don't know, but "hiring" mentors just seems wrong to me, like hiring a spouse. We had a few guys here who took money for mentorship and it turned out they were sketchy dudes.

 

[Oilman]

Great list of resources OP, I currently have a backlog of books but I better consume those so I can get to yours soon.

I think the biggest takeaway from your post I got is my mindset around making money is too small. I need to be hitting 50K per month as 30K is chickensh*t.

I recently started posting here because my current manager at my job made me angry. I'm channeling that aggression into building a business.

 

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[MattR82]

I can't understand how this thread has had a bit of a weird, argumentative and negative turn. I think we should keep in mind the positivity and intention from the OP rather than get into semantics about what deserve means and politics.

I've been making such a big effort to catch and change my inner narrative voice and it's such a gamechanger. It's embarrassing to think back to how I used to think, even only a few weeks ago.

Obviously you still have to put the work in, but some of the changes I'm seeing and things happening are wild. 2 off the biggest issues I've had with my business since starting 12 months ago have disappeared and have been replaced by something I could had dreamt about, and what was supposed to be happening from the get go. I don't really want to go into detail about it, but it's significant.

Thanks to Shaman @Likwid24
I'm quite liking the Craig Ballantyne content suggested as well.