Scarcity vs. Abundance: You can WIN even by helping your competition.

What if I told you that in order to see better results with whatever you are doing…

…Your work, starting a business, playing a sport, raising kids, building app, insert anything here…

My advice to you is to help that person or organization in your same space…i.e. your competitor.

But Keith, that’s counterproductive, I want to beat them?

Well, I would argue that you can still “beat” them, but by helping them, you grow the entire pie from which you are both fighting over.

It comes down to an “abundance” and “scarcity” mindset.

Do you feel there is a limited pie, and thus you must fight tooth and nail for the scraps…

That’s a scarcity mindset.

However, if you realize that the entire pie can grow and that your slice gets bigger as the pie grows automatically…

That’s an abundance mindset.

And as consumers, we win in this second scenario as businesses and entrepreneurs are forced to keep elevating their game.

The quote in the image above was from John F. Kennedy for a talk on economic policy in which he was trying to explain these 2 mindsets.

He explained that when the economy (or a business category) improved, well by default all the players in that space also saw those improvements.

Ok Keith, but how does this help me today?

Good question.

I had a phone call today with a friend and colleague.

He is running into a challenge with his business and needed some creative solutions that he had not thought of.

Did he lock the door to his office and create a super secret strategy session?

No. He started reaching out to others for help. To old bosses and friends and business owners in his space to see how they had success with the same issue.

He reached out to me as I had used tactics in a different business category that could be applied to his business.

But he had the courage to ask others for their “secret sauce”.

And did they say, “no way”?

Of course not, everyone he talked to provided some great nuggets that had helped them.

Why?

Abundance mindset.

By helping this guy, the entire pie gets bigger. The tide rises and floats all the ships.

Competition gets steeper and businesses are forced to provide a better product or service to their customers.

And when the time comes and someone reaches out to my friend, and asks for help…

What will his answer be?

“Yes” of course.

So write a blog about how you do what you’re great at, speak at a conference and provide your learnings, answer that call or email when someone asks for help…

It not only will help float all boats, but one day when your boat is stuck, you will be thankful that there is someone out there willing to help you!

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