Clint Murphy  00:10

People with a scarcity mindset, see everything in terms of win, lose. And because of that, they lose. There’s only so much and if someone else has it, that means there will be less for me. 

Clint Murphy  00:25

The more principle centered we become, the more we develop an abundance mentality. The more we’re generally happy for other people’s successes, well-being, achievements, recognition, and good fortune, the more we believe their success adds to our lives. 

Clint Murphy  00:45

This wisdom comes from Stephen Covey, and it sets the stage for our discussion today. When we grow up without money,with traumatic experiences, with a lack of access to resources, we can often develop a scarcity mindset. The problem is scarcity can have a significantly negative impact on your life. 

Clint Murphy  01:06

But positively, you don’t need to be stuck in the scarcity mindset. You can choose to approach life from a place of abundance and that’s what we’re going to talk about today. We’re going to dive into a scarcity mindset, an abundance mindset and how to shift from scarcity to abundance. 

Clint Murphy  01:29

Let’s start with the scarcity mindset. The hallmarks of a scarcity mindset include hoarding, fear of loss, constant worry, a limited perspective, focus on what’s missing and difficulty making decisions. 

Clint Murphy  01:45

The metaphor that always jumps out for me is when I think of a scarcity mindset person, I see someone who isn’t willing to share their pie with you because they’ll have less pie for themselves. We’re going to come back to that pie example later. 

Clint Murphy  02:04

Overall, a scarcity mindset can lead to feelings of isolation, unhappiness, and a lack of fulfillment in your life. You’ve probably heard of the marshmallow experiment, which highlighted a 1972 study by Stanford psychologist Walter Michelle on delayed gratification. In the study, children were offered a choice between one small but immediate reward or two small rewards if they delayed gratification. They were left alone for 15 minutes in a variety of scenarios. When researchers followed up years later, they found a correlation between the length of time a child could delay gratification and various life outcomes such as BMI, SAT scores, life outcomes, level of education, stress management, and anxiety. 

Clint Murphy  02:56

However, one of the largest critiques of the marshmallow experiment is that it favored children from wealthy backgrounds. Let’s take a step back and look at this. Children who grew up in a place of abundance had less challenge delaying gratification because they didn’t have a sense of distrust that the second marshmallow would come. On the other hand, children who grew up with a lack of money and resources, were not able to share the same faith in the future. I look at it differently. An abundant mindset allowed degrade delayed gratification. 

Clint Murphy  03:32

Delayed gratification correlated to higher performance in life. You can make the shift in life from scarcity to abundance and it will benefit you. I would have failed the marshmallow test, I grew up without money or resources. And in our house. If I didn’t eat my marshmallow, my brother or sister would have ate it. But over time, I was able to understand the difference between scarcity and abundance and make the choice to live my life in abundance. A choice I will never regret. While I chose abundance. I also increased my ability to delay my gratification and to move from a focus on days to a focus on decades. 

Clint Murphy  04:18

When I did my wealth, health and relationships increased and improved. Now let’s talk about abundance mindset. The hallmarks of an abundant mindset include gratitude, generosity, confidence, collaboration, positive outlook on life, and the focus on endless possibilities. 

Clint Murphy  04:40

If we go back to our pie example, I did tell you we’re coming back to this and we contrast it with someone who has an abundant mindset. They’ll think to themselves, how can we make this pie bigger so everyone can eat together? 

Clint Murphy  04:55

Overall, an abundance mindset can lead to feelings of joy, fulfilment and a sense of purpose in your life. It’s possible to go from scarcity to abundance. It was a change I made, and it’s a change you can make. Here are some steps. 

Clint Murphy  05:11

Number one, take action. Move forward toward your goals. Focus on the process itself, not the results, not perfection. When you progress toward your goals, you’ll begin to appreciate the glass is half full. 

Clint Murphy  05:28

Practice gratitude. When you practice gratitude, you focus on what you have in your life instead of what’s missing. If you can be grateful for your mental, spiritual, emotional, physical and financial life, you’ll set yourself up for happiness. It will allow you to start to see the world as a place that happens for you, not to you and you’ll be able to move towards abundance.

Clint Murphy  05:53

Share with others, be generous, grow the pie, share it with others, give people your time, resources, knowledge. When you put yourself out into the world with no expectation of getting anything back, the world will open up to you.

Clint Murphy  06:11

Focus on the possibilities. Don’t think about what you don’t have. Don’t think about what you can’t do. Focus on what you have. Focus on what you can do in life. When you shift your focus from what’s holding you back or what you don’t have to what’s possible in the world, you’re going to be surprised by what you’re able to achieve. 

Clint Murphy  06:31

Challenge your limiting beliefs. This is the big one. We all talk to ourselves in ways we shouldn’t. We’re often raised to scarcity, conditioned to it, journal on all the topics we’ve shared today and challenge your thinking on them. When you have a scarcity thought write it down. On the other side of the page, write five abundant mindset ideas right beside it, come back an hour later and read them. I betcha over time you’re gonna find that you identify with the abundant ideas.

Clint Murphy  07:02

More important than anything. Practice challenging those beliefs. Challenge them every day and surround yourself with positivity. 

Surround yourself with people who are positive. If you’re consistently surrounded by people who have a scarcity mindset, you’ll have a scarcity mindset. If you’re consistently surrounded by people who have a fixed mindset, you’ll have a fixed mindset. If you surround yourself with people who push you challenge you and support you, people who are positive and abundant with their time, energy and resources. When you surround yourself with those people. That’s who you’re going to become. You’re going to become a happy winner in life. 

Clint Murphy  07:43

So I hope this may have inspired you to shift from a mindset of scarcity to abundance. It’s a choice you can make every single day when you get out of bed. 

Clint Murphy  07:57

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