THE SCARCITY MENTALITY:AN OBSTACLE TO WEALTH CREATION

 God created every person with the capacity to alter their circumstances. Indeed various researches have shown that Africa is one of the richest continents in terms of mineral resources. But why is it that in terms of real development we are lagging behind. As a continent we have a lot of potential but there are many barriers that inhibit our potential such as cultural norms and other structural bottlenecks. I can cite a number of practices that prevent us from getting ahead in terms of wealth creation. Why on earth would a person murder another to become wealthy? Just recently in the news papers I read a story of a suspected witch doctor who murdered 2 children in Kiboga District. A few months back a youth was killed by a mob after the youth killing a prominent businessman.

The mind is the driving seat for wealth creation. However some of the practices that I witness in society need to be revisited or reexamined. I met a group of youths who said they do not believe in entrepreneurs who say they started small. There in lies a big problem. Many youths have waited for long to start their own businesses because they are waiting for big capital in an era where resources are scarce. One of the reasons why get rich schemes are thriving is because the youths prefer instant riches instead of working hard. Many youths see themselves as competitors instead of combining efforts to start businesses. We need to learn something from the Indians. Indians combine efforts and start businesses that employ many other people and contribute to national development. In Africa when someone tries to rise he or she is pulled down.(PHD). I am not saying this is always the norm.

HOW TO OVERCOME THE SCARCITY MENTALITY

1.Think Big. In his book The Magic of Thinking Big, Dr. David Schwartz noted that big thinking enables one to spot opportunities where others see only problems.

2.Mind your attitude. Attitude determines altitude. Start seeing things from a different angle or perspective.Imagine what would have happened had Thomas Edison given up on his inventions?

3.Power of exposure. As Africans we need to know that the world is transforming at a terrific speed. We can not afford to stay behind.

4.Power of association. We should strive to associate with people who challenge us to become better versions of ourselves.

By and large we are products of our thinking. If a scarcity mentality is predominant amongst us we need to take steps to get rid of it. Wealth can not be made if we do not shift our perspectives or thinking.

Phillip Kiryowa

Finance and Leadership Coach

+256752615916

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