Mindset is a critical success factor in both work and life. Moreover, thriving at work is easier with an abundance mindset. Research shows that how you think about yourself and the world around you can drastically change how you learn, handle stress, and create success, as well as your resiliency and even how your immune system functions.
For example, individuals with positive perceptions of aging in their middle age lived 7.5 years longer than those with less favourable perceptions of aging. In addition, an optimistic outlook is linked to reducing heart disease and a host of other major illnesses, including cancer, stroke, respiratory disease and infection.
In his best-selling book, ‘The 7 Habits of Highly Effective People’, Stephen Covey described this positive thinking as an ‘abundance mentality’. By comparison, he also describes a ‘scarcity mentality’, that is, seeing life as a finite pie; if one person takes a piece, that leaves less for everyone else.
Abundance thinking or mindset is good for the health of the team and individuals within the group. It opens up possibilities for innovation and improvement, increases engagement and builds connections. Importantly it develops a growth mindset, a term coined by Carol Dweck, which means:
"…an approach to life in which an individual believes that their talents, intelligence, and abilities can be developed further. People with a growth mindset seek opportunities to learn, gain new skills, and enhance their existing skills. "
Abundance Mindset and Teams
With an abundance mindset, teams working across boundaries will create greater value for the organisation over siloed teams just looking out for themselves. Further, encouraging marginalised groups into leadership will benefit everyone, as opposed to excluding some groups to protect the narrow interests of other groups.
For some people, mindsets are fixed; however, most of us alternate according to context and situation. When trapped in the scarcity mindset, you can take action to shift towards an abundance mindset.
Tips to nurture your abundance mindset
A casual chat about ‘abundance mindset’.
Mindset plays a crucial role in our success at work. Being confident to learn, gain new skills, and enhance existing skills helps us create change and become more innovative.
To enhance your innovation mindset, first, reflect on your lived experience. Then, use the Innovation Mindset framework to identify your strengths and the part you play in helping innovation happen.