Ep 56: How To Shift From Scarcity to Abundance Mindset with Miriam Schulman
How To Shift From Scarcity to Abundance Mindset
Today we are talking about how to shift the scarcity mentality of the “starving artist” / “broken healer” mindset into one of abundance with author Miriam Schulman. Miriam is an acclaimed artist and the host of the Inspiration Place podcast.
What Makes You Realize You’re In Scarcity Mindset?
Miriam explains that scarcity is a blind spot for most entrepreneurs so we don’t see it for ourselves. Typically it takes someone pointing it out for us to really become aware. Our brains have evolved for survival, not goal achievement. When things get uncomfortable we automatically go into “comfort zone” mode.
How Can We Tell the Difference Between a Scarcity Thought and Intuition
Our thoughts will lie to us to keep us safe. We can’t believe every thought that pops into our minds without discernment. When something keeps coming up over and over, both internally and usually externally as well, then it might be time to pause and listen to that message. Journaling the reasons why you think you can’t do something is a great idea. It gives you an opportunity to identify thought distortions (@Aaron Beck “Cognitive Behavior Therapy). The reasons that are “all or nothing” are typically coming from that survival instinct type thinking versus rational evidence.
What Prompts a Conscious Consumer into Purchase Mindset?
Alignment with their values. More often than not, people use their own value system to make the decision to purchase. Additionally these same people may be willing to pay a premium for that alignment. As entrepreneurs we oftentimes need to look at what we are carrying energetically that may be at odds with what values we want our brand to represent. To be authentic and attract aligned customers, we may need to shift that vibrationally
What Your Pricing Says About Your Worth
Miriam explains pricing strategies. Charm pricing is $497 vs $500 or $222 vs $225. These prices call out the people to which those $3 really matter. If you know every penny matters to your ideal client, this pricing tactic may work for you. However, if you want to attract the people who want to work with you regardless of the price this may not be the correct strategy. Prestige pricing (like the $500) communicates more of a luxury branding. Rounded numbers are processed by the emotional side of the brain vs the logical side. As an artist or a spiritual entrepreneur, you want your clients to connect with your offer emotionally.
Shifting From Scarcity Mindset
To shift the energy of scarcity into abundance, take note of how you take to yourself about money. Be sure you are telling yourself truthful statements vs fear based statements. For example: “I chose not to spend money on that item” or “I don’t typically spend that much for this” versus “I can’t afford that”
Passion to Profit Framework
There are 5 key pillars to this framework. First is your Production; what you are selling. Next is Pricing. Third is Prospecting; how you’re finding your audience. Then you have Promotion; your sales and marketing. And lastly, Productivity; sales vs profitability. Miriam shares examples of how she sees entrepreneurs not having the first 2 pillars inline with their ultimate dream goals.
The Sleeping Beauty Complex
Miriam discusses how as a creator you don’t want to put your “baby” out into the world because you feel it’s not ready. The truth of the matter is you will never feel ready (ready isn’t a feeling) and it will never grow into maturity if you don’t put it out, garner feedback, shift/pivot, improve, repeat.
Here’s to staying Spiritual and Ambitious.
Telling yourself scarcity statements about your own spending makes it hard for you to believe other people would want to make a similar type of investment in you. – Miriam Schulman
People buy with their values. They will actually pay a premium – Miriam Schulman
Questions? Contact us here.