The Power of Scarcity

I’m a World Cup fanatic. I don’t watch a lot of soccer year-round, but at the same time, I’m on record believing the World Cup is the greatest sporting event in the world. Country vs. country, so little margin for error, and billions of people watching. The stakes are so high. However, there’s one other ingredient that helps create World Cup magic. Scarcity. It only happens once every four years and only 32 countries qualify. In other words, it’s a huge deal!

Scarcity plays a huge role in all our lives. Think about the things you get most excited about. Common answers may include births, weddings, graduations, and big vacations. A common thread between all of these is scarcity. They are inherently special because they are scarce. Even the anticipation of these events can be as fun and fulfilling as the experience itself.

Sarah and I will be traveling to Asia in early 2023, which will be the first time traveling abroad in nearly three years. The anticipation of this trip will be higher than ever. Not just because it’s a trip abroad, but because of how scarce they have become. I used to travel abroad 5-8 times per year, every year. Those trips were always fun, but they lacked scarcity. Now, however, I have a huge anticipation for what’s to come.

Too much of a good thing isn’t necessarily a good thing. This is a trap we’ve fallen into when it comes to our finances. Many of us indulge, indulge, indulge, then indulge some more. Then when I’m meeting with a client in a coaching setting, I can tell the lack of scarcity has ruined it for them. They successfully turned something special into something normal. It’s sad when it happens, but it’s an easy trap to fall into. When we remove scarcity, we can rob ourselves of what makes it special.

Fortunately, if we have an awareness and intentionality about our decisions, we control what stays scarce and what becomes normalized. Embrace scarcity!