Making Decisions When Resources are Scarce

What could you accomplish if there were no limits? As lawyers we tend to be grounded in reality, which can actually limit what we can achieve in our practice and in our lives. Today I want to show you how a different thought framework will allow you to make decisions which can help you achieve growth in any economic climate. 

In this episode we discuss:

• Having a fixed mindset versus a growth mindset.
• What is the scarcity mindset and why is it toxic?
• Changing the power of a feeling through thought work.
• A framework for using your desire to materialize what you want:
  • What is it that you want?
  • Do you believe you can have it now?
  • Do you believe that you can have it more than you believe you may fail?
  • Do you believe that if you fail, you’ll recover better off than if you had not tried?

• How failures can set you free and make you better off

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Snip-Its
00:03:11
So a lot of people will believe that they are restricted by their race, their gender, their region of the world, their economic circumstances, their parentage, ancestry, their political beliefs. They’ll believe that there is only so much that can be done and they will only achieve up to the height of that possibility. And when you start to hear someone talk about what is not possible, oftentimes it is because they are focusing on the how and not focusing on a framework that we’re going to talk about today that’s actually going to give you the ability to start to see possibilities where you don’t currently see them.

00:12:07
And thought work is a framework for how to look at problem solving, that does not start with the tactic or the strategy. It starts with understanding that your circumstance is what it is. So we have to accept the circumstance. And if we cannot immediately change the circumstance, we have to then think about how we are thinking about our circumstances. Because our thoughts about a circumstance are going to cause us to have a certain feeling. And the power of that feeling is going to dictate what action or inaction we take that will lead to a result.

00:27:00
And thought work is a framework for how to look at problem solving, that does not start with the tactic or the strategy. It starts with understanding that your circumstance is what it is. So we have to accept the circumstance. And if we cannot immediately change the circumstance, we have to then think about how we are thinking about our circumstances. Because our thoughts about a circumstance are going to cause us to have a certain feeling. And the power of that feeling is going to dictate what action or inaction we take that will lead to a result.

00:44:59
But if you don’t want to wait 10, 15, 20 years to get to a place where you are happy with the life that you are living after, you are too old to enjoy it. Or frankly, don’t have the stage of life where you’re able to physically or emotionally or financially enjoy it because you have other priorities, and you want your success today, then it’s time to get out of the scarcity mindset so that you can ultimately get yourself to the place that you want.