The Key to Success and Wealth

The Key to Success and Wealth

Garrett B. Gunderson dedicated his career to debunking widely accepted myths that undermine the prosperity and joy of millions of hardworking, honest business owners

Garrett taught me an important concept that affects our wealth. A concept I think everyone should be aware of.

He calls it the “scarcity mentality.”

Let’s get right into it…

Scarcity mentality begins with the assumption that there are limited resources out there, and if someone else wins — we lose.

The truth is although the world may be divided into winners and losers when it comes to football and tic-tac-toe, the rest of life is never that black and white. In fact, things work out best when one person’s success lifts everyone up.

Real success lies in creating value for everyone involved.

When we live with a scarcity mindset, our world draws inward. We end up being stingy.

We keep our resources and our ideas to ourselves instead of sharing them with others. This keeps us constantly scrambling for more, feeling like we have to fight in order to stay on top.

This frame of mind narrows our horizons and keeps us thinking small.

Exchange Is Key

Our economy is based on exchange. Society thrives on the exchange of ideas, information and money.

Having a scarcity mindset limits your ability to participate in the exchange economy that’s so vital to success. Scarcity is about shrinking and restricting, while abundance is about production and expansion.

If you’re stuck feeling as if you don’t have enough and you can’t afford to take the chance to share what you have, you may very well be setting yourself up for failure.

A Threat to the Economy

A scarcity mindset can be a huge stumbling block to a person’s financial success, but it doesn’t stop there. In fact, scarcity mentality is behind recessions that threaten the economies of entire nations!

When people become fearful that the economy is in danger, they stop exchanging. When we stop exchanging, the economy stops growing…and recession becomes a self-fulfilling prophecy.

What can we do to step out of the scarcity mentality and into abundance?

We need to remember that the development of real wealth means bringing real value to the world.

Entrepreneurs look for a problem and then develop ways to solve that problem — a way to help people live a better life. The question, Garrett says, isn’t “What can I do to make money?” but “What problems are there in the world that I can solve?”

I couldn’t agree more.

When we operate out of a desire to help others, we’re gaining a lot more than just money.

We’re gaining purpose.

And without purpose, all the money in the world can’t make you rich.

With Purpose,

Dr. Patrick Gentempo

Patrick Gentempo