Abundance vs Scarcity mindset

The mentality we adopt can have a significant impact on our business and professional success. Two of the most commonly discussed mindsets are the scarcity mentality and the abundance mentality. Understanding these mentalities and how they influence our thinking can help us make better decisions and achieve more significant results in our careers. The Scarcity Mentality A scarcity mentality is a belief that resources are limited, and there is not enough to go around. In Nigeria, this mentality is often seen in businesses that struggle to survive due to a lack of resources such as capital, infrastructure, and skilled labour. It may sometimes be referred to as a "dog eat dog" mentality. Many small businesses in Nigeria have to compete with larger, more established companies with more resources and funding, leading to a sense of scarcity. For example, a small restaurant owner in Nigeria may focus on the competition with other restaurants in the area, rather than the potential fo...