The Importance of an Abundance Mindset in Business: How to be Truly Prosperous

What do prosperity and abundance mean to you?

For a lot of entrepreneurs, the first thing that comes to mind is financial plenty. After all, a large number of people go into business for themselves because they want material wealth.

And there’s nothing wrong with that! Financial abundance is a great goal to strive for.

However, you may find yourself running into a problem if you remain strictly focused on prosperity in the form of wealth. When you elevate money to top priority, you aren’t truly freeing yourself from the vicious 9 to 5 cycle that claims most working adults.

In pursuit of more wealth, you’re compromising many of the other reasons you likely went into business: work/life balance, freedom, and the autonomy to do what you love.

You May Have Never Thought So, But These Behaviors Exhibit Lack of Abundance:

As innocuous as it may seem to care about finances, you place a lot of pressure on yourself when you make money more important than it needs to be. In doing so, you’re operating from a place of lack — you never feel secure in yourself, your reputation, or your success.

It might seem counterintuitive not to dwell on money, but fear and insecurity will undermine you at every turn, from making sound business decisions to attracting investors and positive publicity.

In my book “F Words for Startups,” I reveal that FEAR is essentially False Evidence Appearing Real. You can psych yourself out and sabotage your own success when you succumb to fear. For example, fear may lead you to delay launching a great business idea — and entrepreneurs know that if there’s a good idea out there, someone’s going to find it if they don’t move quickly.

It’s ironic to imagine that caring so much about money that you’re afraid to lose it could keep you from the success you’re after — but it’s also true. Coming from a place of lack is a recipe for disaster.

The Fallacy of Money as a Goal

There’s one other problem with putting your whole focus on money: it’s a shaky foundation for any venture.

When you first start a new business, you believe in the idea — or at least you believe the idea will make you rich. As time goes on, that initial enthusiasm will usually give way to a realization that this isn’t as easy as you thought!

If you press on because you believe in the idea and you love the work, you’re tapping into the abundance mindset. If you press on because of the money, you may achieve some financial wealth, but at what cost?

Your heart can’t endure an endless grind. You can’t stay motivated based on material wants alone. If you want to enjoy true prosperity, you need something more.

Believing in an Abundance of Ideas

In addition to an abundance of money, the abundance mindset relates to ideas. I bet if you haven’t already done so, you could easily list a hundred business ideas to pursue right now. People with the mindset to succeed don’t cling tightly to ideas any more than they do to cash — the reality of abundance means that if you miss out on one opportunity, you have plenty of others to choose from.

How to Adopt an Abundance Mindset in Business

Now, with all that said, money still matters. You could never go into business and just hope the money situation will take care of itself! But recognize the distinction between viewing money as one important factor, compared to viewing money as the most important or only factor.

You don’t want to tick off the items on your checklist of material wealth — expensive car, big house, fancy trips — and realize that you’re miserable after all that hard work.

So, how can you adopt an abundance mindset? Instead of defining money as prosperity, think of prosperity as well-being, happiness, and peace. Start viewing your life and business from a place of optimism.

In order to do this, I recommend you ask yourself what you truly want. I recommend that you start being thankful for the present.

And most importantly, I recommend that you allow a positive outlook to fuel your efforts toward a brighter, more prosperous future.

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3 years ago

Great post, Philip! Money is surely the base you build your business around. But it is one of the many things that are important. The most important thing is the set of values you cherish. And your will to share it with your colleagues. Optimism and prosperity are so much bigger when shared. And you can get so much more ideas if you open your mind for the pieces of advice from your co-workers.

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