Calculating Scarcity – What Do You Stand To Lose?

Whenever the news announces heavy snow in London everybody goes into panic mode. The local supermarket shelves are quickly emptied, petrol stations run dry and suddenly everybody gets super productive before the white blanket arrives.

Psychologist refer to this phenomenon as the “Romeo and Juliet Effect,” when we know something is going to be unavailable it suddenly becomes more attractive, but how could we use this irrationality to our own advantage?

“Whenever free choice is limited or threatened, the need to retain our freedoms makes us desire them significantly more.” – Robert B. Cialdini, PH.D (Book: Influence: The Psychology of Persuasion)

Being young, it’s easy to believe that we have all the time in the world to get shit done but having this mentality causes us to become lazy and careless.

One effective way you can tackle this problem is by calculating your own scarcity. Whenever a new opportunity arrives, stop and ask yourself how many more times could this happen in your lifetime? You’ll be surprised to see that the chance to travel, the chance to start your own business or the chance to reconnect with your family can be extremely scarce.

By taking the time to calculate your own scarcity you quickly figure out how much you stand to lose and there’s nothing more motivating than knowing you may never have the same chance again.

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What do you stand to lose?