Traffic & Conversion

Why an “Abundance Mindset” is Key for a Successful Business

by Heather Farrat




All the great marketers I meet are willing to share their strategies to help others. (A far cry from the dog-eat-dog stereotype you’d expect from the leaders of the pack.)

That’s because they all run their business with a viewpoint of abundance, not scarcity.

They choose to believe this industry’s big enough for everybody to win, and this leads to greater opportunity for their businesses and the whole community.

In this video, top marketers including Mari Smith, James Schramko and Lindsay Marder share why having an abundance mindset is a key factor to their success.

Is Competition Hurting Your Business?

Would you believe it if I told you there really is no competition?

That believing customers are scarce — or that there isn’t enough money to go around— isn’t just harmful to your business, it’s…

Made up?

Mari Smith is in a class of her own when it comes to Facebook brands.

Facebook even named her their designated “Small Business and Facebook Marketing Expert.”

And she says that having an abundance mindset has completely shaped her career:

“I’ve always come from an abundance standpoint: in my life, my business and everything I do.

Really there’s no competition. I don’t even believe in competition, because nobody can be you…

It’s such an important way to go about your business, to know that you are here for a reason: to bring forth all your great gifts and talents and just go for it.”


Consider The Schramko

James Schramko is another great example of this mindset, and one that’s particularly close to my heart.

Years ago, while he was running his own mastermind called The Silver Circle, James helped me launch my own online community called Smart Marketer (ever heard of it?).

Because he believed in the idea of abundance, he shared his business model and experience with me even though I had nothing to pay him.

Did he view me as some rival trying to take over his territory?

No. He welcomed it, and here’s why:

“Some people are hanging on a bit too tight to their little patch, and they’re worried about losing everything…

But really, you can only receive things once you embrace the fact that the world is really quite big enough for everyone to participate.

People buy more than one course, they buy more than one book and they buy more than one membership.”

James still runs his elite mastermind, and he’s continued to advise me throughout the years.

Scarcity & Opportunity Cost

Lindsay Marder is an amazing up-and-coming content marketer who has built a strong community of friends in this industry.

And for her the big danger of scarcity isn’t just stressing over the customers you already have, but the opportunity cost of losing new ones:

“The scarcity mindset of: There’s not enough clients to go around; there’s not enough money; if I share my strategy someone’s going to steal it out from under me…

It doesn’t help you.

Keeping things locked up, you’re the only one that gets to benefit from them, and I really think this world is about helping each other and helping other businesses grow.”

For her, any opportunity she takes to share what she’s learned is an opportunity to grow her own business, too.

And this is one of the biggest things I’ve learned from running a top-tier mastermind:

Business is not a zero-sum game.

In fact, every time someone in the mastermind gets a win, the whole group benefits — that’s the proposition of a mastermind, afterall.

So the next time you find yourself in a scarcity mindset about your business…

Try to remember that it doesn’t need to be a competition. There’s enough opportunity out there for everyone to get what they want.

Highlights:
0:10 You can only receive things if you can embrace the world is big enough for everyone to participate
0:23 An abundance mindset can only benefit you
0:38 You take new lessons from everyone you work with
1:15 If you focus on scarcity, you miss out on a lot of opportunity
2:15 There is more abundance than you need as an individual

Smart Marketing. Right to your email.

Get the latest marketing news, hot tips, and lifestyle advice delviered to your inbox.

Smart Marketer will not sell or spam your email, you can opt-out at any time.

Get Smart(er) with our courses & memberships

View Courses