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The Scarcity Mentality

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This post is coming from a place of vulnerability. I’m going to explain what type of THINKING a successful business owner needs and then openly admit that sometimes, I don’t think that way. There are ways to approach business and finances. You can either view your business through the lens of ABUNDANCE or SCARCITY. There are many different ways to discover which camp you fall into. These two ways of thinking have a dramatic effect on your level of SUCCESS, your level of FEAR, the amount that you WORRY and the amount of HOPE that you have in your life!

This post was inspired by the awesome Michael Hyatt. I just love his approach to life and business. Instead of sharing his whole post in my post, I want you to take a minute to read HIS post! You can read it HERE!  You’ll quickly be able to realize what kind of THINKER you are after reading through his thoughts. Sadly, I read this post months ago and realized that I sometimes have a SCARCITY mentality. I want so badly to believe that I see my business through the lens of abundance, but sometimes I don’t. Sometimes I don’t believe that there are enough brides to go around at our price point…. sometimes I worry that because we aren’t doing workshops this year, they won’t happen in the future…. sometimes I think “Why do we educate when so many others do? Surely my education isn’t needed when there is already so much out there.” Do you see what is happening? This is a thought pattern that I sometimes get stuck in and it is SO DANGEROUS!

Business owners who constantly live in a “scarcity” mentality also live in a continual state of WORRY. Instead of seeing the glass half full, they see the glass half empty. Instead of seeing new opportunities, they focus on what everyone else has already done and how behind they are. Instead of being optimistic and dreaming big, they are squashed by the thought of “well, my success won’t last forever” or “well, they already did it so why should I even try?”.  I am VERY thankful that I don’t CONSTANTLY live in the SCARCITY mentality. Only sometimes do I catch myself thinking that way. However, the more I learn to recognize when I’m in that mindset, the more I’m aware of others who are in that mindset in their business.

I’m going to be bold and say that you CANNOT run a SUCCESSFUL business and constantly live in the SCARCITY mentality. Why? Because a “successful business” isn’t just a business with great profit margins, it’s a business that brings hope, joy and excitement to the business owner’s life. If you just run a business that makes a ton of money but you worry about it constantly, I don’t think I would call that “successful”, would you? That takes a toll on your family, your well being and eventually your ability to DREAM and move your business forward.

The eye opening discovery that I have made in my business is that the occurrence of my “scarcity mentality” is directly linked to my trust in God. When I’m trying to run my business on my own and just be a BOSS LADY…. I’m miserable. (Ps. Nothing wrong with being a Boss Lady… That term works great for some people! It’s just not the best mindset for me.) It’s during those seasons when I start to doubt the longevity of my success and I start to strive to make success happen on my own and by my own strength. When I focus on the fact that God has a plan for my life and it has always proven to be better than mine, I start to see the ABUNDANCE mentality enter my life again. I’ve discovered that GROWTH happens through the ABUNDANCE mentality, and I can only live in that mindset when I’m not trying to run my own life and control everything! I’ll be honest…. I would LOVE to see our W2’s for 2017 just to make sure we’re doing ok a year from now… I would love to know if we’re going to meet our booking quota and our educational goals this fall…. I would love to know RIGHT NOW what our 5 year plan is and whether or not we’ll continue to be successful… but knowing those things wouldn’t make me feel any better… I would just want to know MORE.

In my opinion, the only way that I can CONSTANTLY live in the mindset of ABUNDANCE is to put my trust in something other than myself. My hope, purpose and trust are in God’s promise that he has a plan for me. I don’t know what needs to happen in your life to allow you to live with a mindset of ABUNDANCE. I hope that between this post and Michael Hyatt’s post, you have started to get curious about where you are and what mindset you live in the most!!

My Thought Process Blog Series:

Lens for Reception Details,

Changing The Timeline Due to Weather,

Bride Getting Into Her Dress 

Photographers: The Resources In The KJ Collection Are Just What You Need!

xoxo, Katelyn
9 Comments Ask Anything, Education
  1. Khaled Mosli reply

    Thanks Katelyn for sharing your take, thoughts and inspirations from Micheal Hyatt’s post. I couldn’t agree more with you as I’m constantly praying that my plans are always in sync with God’s plans. For many years I’ve believed that praying is asking God to grant me success with my plans and visions but I’ve come to realize that praying is simply asking him to change my heart to accept and understand his plans for me :) And that definitely changed my perception of his grace, well and abundance in my life!

    Thanks again for the great as we start a new week!

    Blessings to you and Micheal
    -Khaled

  2. Maison Engel reply

    This resonates SO much with me, Katelyn. I constantly struggle with putting so much pressure on MYSELF to make everything perfect for our business, our photos, our clients … and when I can’t live up to my own expectations, I feel WORRIED + forget that God is in control of this all. It’s HIS, not ours. Thank you for sharing this truth on your blog today when I’ve totally been in the scarcity mindset!! He’s using you in so many ways!! Sending love <3

  3. Callie Lindsey reply

    It’s so refreshing to see this TRUTH. Maison’s comment is perfect. I so often forget that this life/business mean nothing eternally if I make it about me. THANK YOU so much for this.

  4. Mish reply

    I absolutely and incredibly love this. Thank you.

  5. Amber P reply

    I love this post so much! Thank you for being so open about trusting in God’s plan for our lives! Everything you say is so true. I’m so thankful that you didn’t stop educating because there are so many other educators. No one else out there can be a Katelyn James! :) We are thankful for you!

  6. Alysha Christine reply

    Love this!! I’m a big believer in the power of positive thinking :) it affects way more than we often think

  7. Laura @ The Turquoise Home reply

    I just happened across your blog while I was doing research on scarcity thinking, and I just wanted to say how adorably cute your space is here. Love, love, love your site! :) Gorgeous photography, too. – Laura

  8. Dianne reply

    What an excellent post! I see myself in the scarcity side more than I want to admit. My husband is definitely on the abundance side and little by little I’m learning from him. Thank you so much for this – recognizing these shortcomings in ourselves is the first step to changing them. And truly, without God, I’m a big old wreck, anyway.

  9. Sara Ali Khan Wiki reply

    This is really informative article about Business owners and Scarcity mentality

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