Recently, we had a conversation about abundance mentality vs. scarcity mentality and how it relates to sales. The concept is so powerful and comes up so often in one-on-one sessions with my clients, I wanted to write a bit about it.
Stephen Covey first introduced the abundance mentality in The Seven Habits of Highly Effective People. If you haven’t read the book (and you really SHOULD read the book), an abundance mentality is one where you truly believe that there are plenty of resources (in this case, prospects and deals) for everyone. By contrast, a scarcity mindset is one where you think the pie is only so big—so if someone else succeeds, that means you automatically lose.
In sales, the scarcity mindset causes fear and adds stress. It often results in taking shortcuts, sandbagging deals, or undermining your co-workers. This scarcity mentality is an unhealthy way to live and negatively affects your long-term goals.
Having an abundance mentality creates happiness and removes stress. It brings joy to the workplace. It helps you focus on the bigger picture and helps leadership recognize your long-term vision.
Putting the abundance mentality into place
Here are some specific things you can do to put the abundance mentality into action for you in the workplace:
Do: Forgive | Don’t: Hold a grudge
People are wronged in the workplace all the time, but if you are unable to forgive, then your happiness (and your productivity!) will suffer. Address the situation, work out a way, and move on. You are the only one who can give permission to have someone steal your joy.
Do: Recognize team members for wins | Don’t: Take all the credit
I understand that sales professionals thrive on recognition (myself included), but don’t forget to thank the people on your team who were there to help you land your win.
Do: Accept responsibility | Don’t: Blame others
Mistakes are going to happen. The best way to address them is to take responsibility. If you take responsibility and are careful to never throw anyone under the bus, you’ll look like the bigger person in the end.
Do: Celebrate when others succeed | Don’t: Secretly hope for their failure
Incentives are awesome. Sales professionals are usually competitive and are often driven to win by more than just the title of #1 in the branch; they want that new iPad, too. It’s OK to want to win, but realize that when you truly share in the joy of your teammates’ accomplishments, then your head will be in the right place to make sure you win the big prize next month.
Do: Share leads freely | Don’t: Hoard your territory
Don’t let your lack of quality leads hold you back. Top producers never let themselves be defined by a map or a cold call list that was purchased for them. They network, get referrals, and find “outside the box” ways of getting new business (and they do it without stepping on the toes of rest of their team). If you always have a 100 Strong Prospecting List, then the size of your territory won’t matter. When it comes down to it, the world is your territory, go after it.
Above—allyour state of mind is up to you. Living and working with the abundance mentality will bring you happiness, peace of mind, and increased sales. Change your attitude and thrive.
Until next time—go sell some stuff!