Scarcity vs Abundance, How Mindset Impacts Career Growth
Kylie Hogan
Executive Coach & Search Director | Career Strategist | Partnering with senior executives and aspiring C-suites to elevate leadership, map transformative career pathways, and enhance emotional intelligence.
Were you aware that a scarcity mindset was one of the most common factors that impact someone’s career progression, job search efforts and business opportunities. Research from the American Psychological Association APA indicates that a scarcity mindset can largely affect professional development. So, what is a scarcity mindset? It’s the pervasive belief that resources, such as time, money, or opportunities are limited, leading individuals to operate from a place of fear and competition rather than collaboration and growth. Individuals experiencing scarcity may exhibit reduced cognitive function, leading to poor decision-making and decreased productivity.
How a Scarcity Mindset Impacts Your Career and Job Search
Settling for Roles: Accepting jobs that don’t align with one’s goals or values due to fear of not finding something better, leading to dissatisfaction, disengagement, and career stagnation.
Avoiding Risks or New Opportunities: Sticking to a “safe†job or avoiding challenges out of fear of failure, which limits professional growth and the chance to build a diverse skill set.
Overthinking or Self-Sabotage: Constantly second-guessing decisions or delaying actions to avoid mistakes, creating a cycle of indecision and missed opportunities that leaves one feeling “stuck.â€
Low Self-Worth / Imposter Syndrome: Doubting abilities or undervaluing accomplishments, resulting in aiming lower or accepting lower pay, often leading to underemployment or reduced job satisfaction.
Hyperfocus on Job Security: Prioritizing “safe†roles over long-term goals, keeping one in unfulfilling positions that hinder potential career growth.
Reluctance to Negotiate: Accepting initial offers without advocating for fair compensation, often leading to being underpaid and undervalued with lasting financial and professional repercussions.
Overcommitment to Networking out of Desperation: Focusing on quantity over quality, which can strain relationships and lead to transactional rather than meaningful connections.
Fear of Asking for Promotion or New Projects: Avoiding discussions about advancement out of fear, which limits visibility and upward mobility and can lead to frustration or feeling overlooked.
From Scarcity to an Abundance Mindset
Recognizing and addressing a scarcity mindset is essential for unlocking one's full career potential. Shifting to an abundance mindset can be transformative, opening up a path to growth and new possibilities. Here’s how you can start that shift:
Adopt a Growth-Focused Perspective: Embrace the idea that there is always room to grow. Recognize setbacks as learning opportunities rather than failures.
Build Confidence in Self-Worth: Regularly acknowledge and celebrate your accomplishments, and remind yourself that you bring unique value to any role or opportunity.
Emphasize Collaboration Over Competition: View colleagues and peers as allies in growth, and look for ways to share knowledge and celebrate mutual success.
Take Strategic Risks: Begin by setting small, manageable goals outside of your comfort zone. Gradually build confidence to take on bigger challenges.
Negotiate and Advocate for Yourself: Practice advocating for fair compensation and opportunities. Believe that your contributions are worth what you’re asking for.
Focus on Meaningful Connections: When networking, prioritize building genuine relationships with people aligned with your values and goals.
An abundance mindset is about seeing possibilities and embracing a future-oriented perspective, which elevates career potential, enhances job satisfaction, fulfillment and can create business opportunities. Start by identifying areas where scarcity thinking may be holding you back, and take proactive steps to cultivate a mindset that focuses on growth and collaboration.
Break free from limiting beliefs and start building a future filled with opportunity and potential. Recognize the power of your mindset and take the first steps toward a career driven by abundance.
??I help men who are leaders in business go from stuck to unstoppable??Adaptive Mindset Coaching ??Success Mentor ??Business Coach??Wellness Coach??Author
3 个月Great perspective Kylie! Of course the state of our mindset effects everything in our lives. ??
Health & Mental Fitness Coach | Helping High-Achieving Women Break Free from Stress & Burnout to Rediscover Balance, Vitality & Self Belief | Corporate Wellness | Ex CFP Financial Adviser
3 个月A great article Kylie Hogan and tips to shift from scarcity to an abundance mindset. I think doubling down on building authentic connections and understanding your self worth really help to open up opportunities. Often thought it means steeping outside your comfort zone and trusting that you have got this. For me this year collaboration and connection has been such a fun way to work and has opened the door to abundance and different opportunities.
Executive Coach & Search Director | Career Strategist | Partnering with senior executives and aspiring C-suites to elevate leadership, map transformative career pathways, and enhance emotional intelligence.
3 个月Di Mantell, it's that ripple effect. When you open the door to change, other doors open too. Partnering with clients and guiding them through these barriers is key to opening these doors. Often networking is a challenge for many clients. When
TV News journalist/anchor now corporate trainer assisting you in improving your Communication, Presentation and Public Speaking Skills | Dir Managing Your Message
3 个月This is such a fantastic article Kylie Hogan. A 'Scarcity Mindset' can undermine so many areas of a person's life and career. I notice this with some of my clients who are working with me to improve their Communication and Presentation Skills. And it's often what's happened in the past that contributes to this type of Mindset. If people have had unpleasant experiences presenting and 'less than optimum' results - where they've struggled to put their content together or their nerves have compromised their performance - all that can contribute to a paralysing 'scarcity mindset'. Of course, once we have the skills and techniques that are proved to work to improve performance and which provide certainty and predictability that we can craft content that will land and resonate with the audience this can take us out of that download spiral. As you point out, a Scarcity Mindset does impact people's career prospects. And it can negatively impact their ability to communicate as well. I love the fact that you provide guidance and tools to help unlock your clients' potential. Thanks for sharing your article - I'm sure it will be of huge benefit to anyone reading it. ??
CEO, Celsus | Board Director | Healthcare & Sustainability Leader | Keynote Speaker | Public-Private Innovator | Social Infrastructure Deal of the Year Winner (The Asset, 2024)
3 个月For me I find that once I start exploring opportunities other options often open up. There is a degree of needing to be brave and not scared to venture into the unknown but if you don''t take that first step you will never ever know. It also helps if you have good mentor or career coach alonside you to help you pick up on the signals that you might miss - great artice thanks Kylie Hogan ??