As leaders, we all start out from different backgrounds. Sometimes we have cashflow to start a business, sometimes a business is started out of necessity; sometimes you have the right connections to build up your client base, other times you start from scratch. This is often referred to as abundance and scarcity.

Abundance is when you have near endless tools and opportunities, leading to less pressure to perform. Scarcity on the other hand is when you have minimal tools and resources for your project, often leading to more pressure to perform. While we can’t change your situation, we can change your mindset!

A Scarcity Mindset

A scarcity mindset is a mindset where you are not sure if something will be around forever. You’re not in a comfort zone as you are uncertain of what tomorrow could bring, and thus are putting in your all today.

While this may sound unhealthy, it is actually quite the opposite. A scarcity mindset can help you to be more innovative, cutting edge, and provide a better service to your clients. Why? Because you know you have to keep performing to keep them and keep your business growing.

The Power Of Purpose

One of the greatest powers of a scarcity mindset is purpose. There is a reason why the saying goes “money won’t make you happy”, as too much money or comfort can take away your need for a purpose. A purpose is what drives you, inspires you, and helps you to achieve your goals.

With a scarcity mindset, a clear purpose is at your core and keeps you going through the tough times.

Time is a Necessary Pressure

If you give yourself a month to do something, you’ll take a month. If you give yourself four hours to do something, you’ll take four hours.

Too much time is a weakness, not a strength. Time is a necessary pressure and can push you to achieve great work in acceptable timeframes.

Innovate

If you don’t know that something will be here tomorrow, you have to stay on your toes, constantly improving what you do. This scarcity mindset can lead your business to innovate, finding new ways to provide better service, cut unnecessary costs, or even come up with new offerings. That small amount of pressure can help to inspire and motivate your team to come up with new ideas, as opposed to just going through the motions of their daily tasks.

If you want to grow, you need to foster this scarcity, innovative mindset throughout your whole company.