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Shifting from A Scarcity Mindset to an Abundance Mindset with Michelle Gibbs

A scarcity mindset is one of the biggest obstacles for entrepreneurs. It is a belief that there are not enough resources to go around and that people have to fight for their share of what’s available. People with the scarcity mindset believe that helping others to succeed will inevitably lead to their failure.

The short-term rental business is a competitive industry. However, an abundance mindset can help us lift each other and build mutually beneficial relationships with others. An abundance mindset values collaboration and cooperation instead of competition, and it helps us focus on having grace with other people and helping others so that we can all succeed.

In today’s episode, Michelle Gibbs discusses the importance of shifting from a scarcity mindset to an abundance mindset and how her perspective of helping others impacted her STR business. Additionally, she talks about the biggest contributors to the rapid growth of her co-hosting business and the tools she uses for personal growth and continuous improvement.

 Tune in for amazing insights!

Timestamps for the key highlights in the episode

[02:51] Meet and greet; Michelle Gibbs and know where she is located

[04:17] How she got into short-term rentals

[05:47] How Michelle’s perspective of helping other people has impacted her STR

 business and helped her to heal

[09:43] Tips to help you stand out and thrive in saturated short-term rental markets

[11:41] Identifying good team members in a new market

[13:01 The young mom that Michelle loves helping; How she found her and

 identified her as a prospective team member

[20:26] The tools that Michelle uses for personal growth and continuous


[27:25] What are the biggest contributors to the rapid growth of her co-hosting


[29:18] Shifting from a scarcity mindset to an abundance mindset

[33:01] The lightning round:

●     Where is your favorite place to vacation?

●     What’s one place you’ve never been to that you want to visit?

●     What’s one thing you know now that you wished you knew when you started out in the short-term rental business?  

●     What’s the best piece of advice you’ve ever been given?

●     What’s one thing and/or person that you are grateful for today?

[36:11] How to connect with Michelle Gibbs


Notable Quotes

●     “Obviously, beach markets are saturated short-term rental markets, but I don’t believe that’s a deterrent. I believe there is a great draw and attraction there, and if you do it well, your guests will always come back.”   

●     “When you go to a new industry, you don’t need to reinvent the wheel. You need to find someone who has polished that wheel to a beautiful shine.

●     “You have to be hungry for growth to be open to being wrong.” 

●     ‘You have to let go to let in.”

●     “You do unto others as you want done unto you.”

●     “When you learn by doing, you don’t forget.”


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