Staying confident, and in abundance, when business is down is tricky. Abundance is an absolute belief or mentality that there will always be enough for you. It trusts that no matter what the circumstances, you will feel happy and successful. Abundance knows that you can adapt, work harder, or grow more to counteract any changes that may occur. It is also detached from outcomes. If the results of business are down, it doesn’t stress or worry. This mindset allows you to focus on gratitude, not fear.
When things are rolling and deals are closing it is easy to feel your life is abundant. However, if your prospects are down or not converting, it is just as easy to drop into scarcity. Scarcity is a mindset that most people have been programmed to have by society. It believes there is not enough, and if someone wins, someone loses. Scarcity envies others or makes excuses for why your business is off. It will complain, blame, and eventually drop you into self-pity; a state from which it is hard to recover.
So how can you stay in abundance when business is off? Use these tips and start cultivating more success now.
- Adopt an abundant mindset. Add I AM statements to review daily. Some examples are: I AM prospering, I AM confident, and I AM focused on opportunity. Write down what you feel abundance would say versus what scarcity would say in different circumstances. In this way when triggers or situations come at you, you’ll be ready to choose the right thought. Example: You lose a deal to a discount broker 90 days after working with a client. Abundance says: “Let them go. They weren’t my client. There will be bigger opportunities for me because I am disciplined and purpose driven.” Scarcity says: “I cannot believe I just lost that. They are terrible people and I hate discount brokers. How am I going to get clients when none of them are loyal?” We attract more of what we focus on, so I’ll let you choose which thought pattern is best here!
- Create a plan that increases the quantity of opportunities you generate. Because commissions per deal are high most salespeople do only the minimum they need so if anything falls out it is painful. This approach will often keep you close to scarcity. If you do two deals regularly and one falls out, your income drops by 50%. If you do ten deals and one falls, it is only a 10% drop. I am actually a fan of commissions being reduced, if only for this reason. If we made less per deal we would focus on more deals, and likely not hold on as tight which causes stress and anxiety. In my business I wanted 100 pre-approvals a month, knowing my lowest conversion rate was 25%. So at a minimum, I could close 25 purchases and never be affected if even five canceled or rolled.
- Assess how sustainable your success really is. Lots of people, when the market is hot, rates are low, or the economy is strong, can be financially successful. If you haven’t systematized or created your success by using a documented plan, deep down you probably realize it may not last. One market shift and it can disappear. Take a deep dive into your model for building referrals and opportunities, and if you can’t see predictable or scalable results, you must create a model that will produce them. You will sleep better at night knowing exactly how you generate business! You can continue to build in robust markets, but you recognize this is a compliment to your business. You don’t create a lifestyle or build your confidence around it.
There are many other things that will help you stay in abundance, but getting the right mindset, increasing opportunity in your business, and ensuring your model is predictable are the foundations to set you up for life!