Scarcity Mentality is Hurting Your Sales Team!

The last couple years have introduced several curve balls for business owners and sales managers. Circumstances beyond anyone’s control have hurt business performance in unforeseeable ways. Supply chain shortages causing long customer wait-times, materials cost increases, and a general decrease in customer spending are common situations companies have had to adjust to. These circumstances (and others) can trigger a scarcity mentality response which undermines sales-confidence. If not dealt with swiftly, sales and profit margins suffer.

The way out starts with an awareness of how a scarcity mentality creeps in, and what to do about it. On page 26 of The Science of Getting Rich, by Wallace D. Wattles, the author states that for a person or business to succeed,

“You must get rid of the thought of competition. You are to create, not to compete for what is already created.” That’s a radical concept – create vs. compete – especially considering that he wrote these words in 1910. Wattles expounds on this idea saying,

“You do not have to take anything away from anyone. You do not have to drive sharp bargains. You do not have to cheat or to take advantage. … You are to become a creator, not a competitor; you are going to get what you want, but in such a way that when you get it every other man will have more than he has now.”

Reading that passage twenty-five years ago immediately shifted my perspective on sales and how to coach my sales team. Understanding that competition is based on a scarcity mentality which immediately pits you against constraints you can’t control explained the undercurrent of frustration everyone was feeling. Scarcity sees the glass half empty, focusing on lack, which fosters fear. Scarcity implies that to “get” you have to “take away” from someone else. It views sales opportunities as finite. Scarcity = shortage, lack, insufficiency, scarceness, inadequacy.

Wattles skillfully asserts that we have the power to choose how we think.

The more productive thought-choice in business (and in life) is to adopt an abundance mentality. Creativity is the catalyst that generates abundance. A creative approach imagines unlimited opportunity, new paths, ways to create a path where there seems to be none. It’s based on collaboration and a recognition that undiscovered unknowns are just waiting to be uncovered. Abundance = plenty, wealth, richness, lavishness, profusion, copiousness.

Competition says, “Yes – but…”. Creativity says, “Yes, and…”.

How can you apply this concept of creative thinking to improve your results? I’m available to chat if you want to do some brainstorming.