This pattern plays out often with clients:

  • Strategy session: The TAM is so big, there are so many fish in the sea! We are gonna win our fair share because we are better than competitors!
  • Budgeting season: Let’s set realistic (aka ambitious) targets for next year
  • End of year reality check: We missed budget. Post-mortem, blame game, firing

Reality is a harsh teacher, seasoned executives know that from painful experience. So they protect the business, and themselves in the process. They are right to do so.

In doing so, they move from the abundance mindset that got them excited about the opportunity, to a scarcity mindset that protects the organization. Examples abound: accept these T&C, contact sales for prices, etc. That’s the pattern. What starts in an abundance mindset ends up in a scarcity mindset. 

I’m not suggesting that protecting your business is bad. My point is that it’s important to be thoughtful about moving from an abundance to a scarcity mindset. Layers of protection have consequences: they create friction. It takes longer to get things done. It’s more effort to do business. So companies don’t grow as fast as they want. Executives get asked for more resources. Profitability is hit. To crush target you need an abundance mindset.

An abundance mindset is needed to grow fast. It’s simple and not easy. First, cast out as many lines as you can. Then, make it easy for the fish to bite. Last, let them decide to bite.

1. Put out as many lines as you can

Build a great lead generation engine. A rule of thumb we like to use is that your pipeline should be 5x bigger than your budget. That’s hard, but it’s getting easier. It’s easier to scale outbound lead generation, using off-the-shelf software. It’s easier to scale inbound lead generation, using AI in copywriting.

2. Make it easy for the fish to bite

Create detailed ideal customer profiles: Know your buyers, what a day in their life looks like, what their pain points are, what keeps them up at night. The better you know them, the better you can message your value proposition.

Create a low effort buying journey: Your customers are empowered by the Internet. They no longer need to talk to you before they make a shortlist. Marketing and Sales need to work together to make it easy for a qualified lead to determine if you’re the right scratch to their itch. Educate clients, answer their questions. Be the supplier you want to have for yourself.

3. Let them decide to bite.

Be transparent: Transparency builds trust. If you don’t want to disclose your prices, don’t. But explain how you price, and why, what customers can expect. And stop hiding fees. More on this topic here.

There are enough fish in the sea. You can’t catch them all. If you generate enough leads, you can let go the ones that aren’t a good fit. You can focus on making it easy to do business with you. Customers will pick you, because you’re trustworthy and easy to do business with. That’s the abundance mindset.

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