Opinions of contributing entrepreneurs are their own.
Before lowering prices or offering a sale to pursue growth, ask yourself, “Will this help me in a sustainable way, or will it ultimately cause more stress?” Simply put, if lowering rates solves one problem but causes others, it’s time to do some mindset work, which takes place in just a few steps:
1. Believe in (and expect) abundance
One mistake I see a lot of people make is making assumptions about what their ideal audience can afford. They tell themselves things like, “Nobody’s going to pay that much” or “People don’t have that much money if they just hang around.”
In reality, of course, you don’t know what an audience has in their bank accounts or how far they will go to get what they value most. So, instead of simply making a negative decision on their behalf, choose to believe in abundance – that you have a lot to offer that people can rave about and that there are untold numbers of people who need your help in achieving goals or problem solving. A resulting belief is that there is an infinite amount of money in the world and those in your audience who need you have access to it. Then move forward with those beliefs in mind.
Action Step: Identify the limiting beliefs you have around pricing and business. For each, create an empowering statement of belief that denies it.
An example of a limiting belief might be, “People don’t have $5,000 to spend on a personal trainer.” In response, embrace the more powerful: “There Are people who are happy to invest $5,000 to reach a goal weight, feel healthy and love what they see in the mirror.”
When a limiting thought arises, immediately focus on a belief statement that turns it on its head. Say it out loud and repeat it as many times as you need to. The more you deliberately focus on creating a positive, abundance-oriented mindset, the easier it will be to make decisions that support goal achievement.
Related: 4 ways to adopt and maintain a growth mindset, even during a recession
2: Control your environment and brain space
One thing that can have an insidious mentality impact is the environment, and not just the physical manifestation (although that can also contribute), but one’s emotional/psychological environment. What kind of media do you use? Is it invigorating and uplifting, or negative and exhausting? And who do you have in your circle? Do they speak life to you and your dreams, or do they do little more than sap motivation and energy?
For dreams and businesses to flourish, you need to fill a mental environment with things that promote growth, and prune things that inhibit it. And while you don’t always have everything under control, you should make an active effort to positively influence the things you can.
Action Step: Take stock of all the things in your daily life that cause you stress, sow fear in your heart, or make you feel negative. This could be social media, the news, or even certain people. Once you identify those things, do what you can to limit your exposure to them.
This may include cleaning up social media accounts (following only people and pages that inspire), limiting exposure to news sources, and distancing yourself from those who consistently create negativity. Instead, surround yourself with stories and influences that are aligned with your goals.
Related: Why negativity ruins good ideas more than anything else (and 5 tips to avoid it)
3. Focus on opportunities, not obstacles
As we all know, 2020 was a period of tremendous turmoil for individuals around the world, and entrepreneurs were certainly no exception. But while many businesses closed their doors that year (and the next), others flourished, and we also witnessed the emergence of entirely new kinds of businesses. Smart people started selling cute and functional masks, fitness instructors offered online classes, educators created or modified courses to make the transition to homeschooling easier, restaurants offered take-home kits, and drop shippers took advantage of Amazon’s record sales by adding even more offer more products.
What did all these people have in common? They saw opportunities and created products and services to fulfill them.
Action Step: Consider ways to turn obstacles into benefits. Think about what new needs may have arisen from a seemingly negative turn of events, and what you can do to meet those needs.
4. Be open to new things
Don’t be afraid to get off the beaten track and do things differently. I recognize that change can be scary, but also exciting and life changing! Sometimes the best thing you can do for yourself is to step back, look at a situation from all sides, and ask yourself what else you can do to serve an audience in a way that will excite them. And if you’re too close to things to be objective, get feedback from a network – or better yet, from your audience.
Action Step: Think about how you can serve an audience in new ways that both empower them and help them achieve your goals. Perhaps there is another way you can package services or a new method of delivering them that is beneficial to an audience.
Related: Forget about finding your niche. Do this instead to realize your true passion.