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Are You Having A Scarcity Conversation?

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Are You Having A Scarcity Conversation?

money

    With the economy the way it is, lately I’ve heard a lot of comments like, “I want to start a business, but I just can’t afford it right now,” and “I want to invest in learning how to start a business, but I don’t have the money to put into it.”

    This is a legitimate, honest concern, but this kind of thinking could destroy your business dreams and sabotage your success. I’m going to show you how to make a small shift in thinking so you can stop the “scarcity conversation” and start an “investment conversation” that will transform the way you see your finances and your business.

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    “The scarcity conversation,” is a term I picked up from a client, who once said to me, “I’m scared to death because I know in my heart that I should start this business, but I don’t know if I can spend the money to do what I need to do to make it succeed. I’m having a major scarcity conversation with myself.”

    First, I want to tell you that I’ve been there. I had times when I was living paycheck to paycheck, barely getting by, praying nothing would go wrong with the car or the furnace. And once, in a single day, I received $3,000 in bills that I didn’t know how to pay. I’ll never forget those moments of abject fear and panic, wondering where I was going to find that money. I’ll never forget wanting to do things I didn’t think I could afford, needing to buy things and knowing I couldn’t.

    What is a “scarcity conversation,” anyway? A scarcity conversation is the dialogue you have in your head (or sometimes with other people) and you hear any of these words cropping up with regularity: “I can’t afford….” “I don’t know how I’m going to pay for….” “I wish I could ______, but I don’t have the money for that.”

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    Why is a scarcity conversation a problem? If you’ve read my blogs and e-zines, you know that I approach business in a way that’s different from most other startup experts. I have a hybrid approach that brings in all kinds of disciplines, including psychology and personal growth – because I know that your mindset and not just what you’re thinking but how you’re thinking have a massive impact on the level of your success. So the first reason why you want to get out of the scarcity conversation is because it constantly hammers away at the mindset you need to succeed. The scarcity conversation is all about fear. It’s about uncertainty. It’s about self-doubt. And you absolutely must get out of those thinking patterns to be able to make decisions as an entrepreneur, without doubting everything you do.

    The second reason to move out of the scarcity conversation is also mindset-related. The “I can’t afford it” mentality locks you into a way of thinking that you’ll find extremely difficult to get out of, and that becomes a real issue in business.  The “I can’t afford it” type of scarcity conversation has a way of growing and spreading so that it starts applying to anything, even things you need to grow your business. You won’t put your dollars in the right places if you have “I can’t afford it” floating around in your head.

    My company would never have become the success it is today if I hadn’t gotten out of this mindset. I forced myself to stop thinking in terms of scarcity at a time when my business wasn’t growing and I needed help. It would have been the easiest time to let “I don’t have the money for that” become the scarcity conversation in my head, but I took another path. I thought, “What does my business need to grow and thrive?” and that’s when I hired the consultants and attended classes and seminars that made the difference. If I had said, “I can’t afford this,” I’d still be back where I was, when finding $3,000 bills in my mailbox was panic-inducing.

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    The point I’m making is, if you spend your life focusing on what you can’t afford, things won’t change. But if you change your focus, everything will change. If you focus on putting your money- investing it- where it can bring you back the most return, your life, your business, your mindset will transform.

    Instead of having the scarcity conversation, have an investment conversation. And I don’t mean stocks and bonds. I mean a conversation about what you can invest in that will make the difference for you. It’s like that old adage, “Give a man a fish, and you feed him for a day. Teach him how to fish and you feed him for a lifetime.” For you, that can be transitioned into “Find a consultant who can give you a fish, and you’ll invest in a nice fish dinner. Invest in a consultant who will show you how to fish, and you’ll be able to feed yourself for a lifetime.” 

    Figure out what classes, workshops and consultants will teach you how to fish – not just give you the fish for now – and invest in what they have to offer. You’ll be making a wise investment that will take you to a place where “I can’t afford it” will be a thing of the past.

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    Incidentally, that client I spoke of at the beginning of this article, the one who said, “I don’t know if I can spend the money to do what I need to do to make it succeed”? She went on to invest in her business. She invested in designing a  business that would work for the lifestyle she wanted, and got trained on how to create a unique brand with a clear target market, how to create and launch new products, how to let the world know she exists, and how to establish herself as an expert. And her business is thriving.  She no longer has the scarcity conversations because she knows now that each time she invests her money in her business, it’s going to come back, multiplied.

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    Susan Baroncini-Moe

    Susan Baroncini-Moe is an executive coach and business leader with over sixteen years’ experience.

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    Last Updated on August 25, 2021

    Why Personal Branding Is Important to Your Career

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    Why Personal Branding Is Important to Your Career

    As a recruiter, I have met and interviewed hundreds of candidates who have no idea who they are.

    Without a personal brand, candidates struggle to answer the question: “tell me about yourself—who are you?” They have no idea about who they are, what their strengths are, and how they can add value to the company. They present their CV’s believing that their CV is the key to their career success. In some ways, your CV still has its use. However, in today’s job market, you need more than a CV to stand out in a crowd.

    According to Celinne Da Costa:[1]

    “Personal brand is essentially your golden ticket to networking with the right people, getting hired for a dream job, or building an influential business.” She believes that “a strong personal brand allows you to stand out in an oversaturated marketplace by exposing desired audiences to your vision, skillset, and personality in a way that is strategically aligned with your career goals.”

    A personal brand opens up your world to so many more career opportunities that you would never have been exposed to with just your CV.

    What Is Your Personal Brand?

    “Personal branding is how you distinctively market your uniqueness.” —Bernard Kelvin Clive

    Today, the job market is very competitive and tough. Having a great CV will only let you go so far because everyone has a CV, but no one else has your distinct personal brand! It is your personal brand that differentiates you from everyone else and that is what people buy—you.

    Your personal brand is your mark on the world. It is how people you interact with and the world see you. It is your legacy—it is more important than a business brand because your personal brand lasts forever.

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    I have coached people who have very successful careers, and they come to me because they have suddenly found that they are not getting the opportunities or having the conversations that would them to their next role. They are having what I call a “career meltdown,” all because they have no personal brand.

    A personal brand helps you become conscious of your differences and your uniqueness. It allows you to position yourself in a way that makes you stand out from the pack, especially among other potential job applicants.

    Don’t get me wrong, having a great CV and a great LinkedIn profile is important. However, there are a few steps that you have to take to have a CV and LinkedIn profile that is aligned to who you are, the value you offer to the market, and the personal guarantee that you deliver results.

    Building your personal brand is about strategically, creatively, and professionally presenting what makes you, you. Knowing who you are and the value you bring to the table enables you to be more informed, agile, and adaptable to the changing dynamic world of work. This is how you can avoid having a series of career meltdowns.

    Your Personal Brand Is Essential for Your Career Success

    In her article, Why Personal Branding Is More Important Than Ever, Caroline Castrillon outlines key reasons why a personal brand is essential for career success.

    According to Castrillon,[2]

    “One reason is that it is more popular for recruiters to use social media during the interview process. According to a 2018 CareerBuilder survey, 70% of employers use social media to screen candidates during the hiring process, and 43% of employers use social media to check on current employees.”

    The first thing I do as a recruiter when I want to check out a candidate or coaching client is to look them up on LinkedIn or other social media platforms, such as Facebook, Instagram, and Twitter. Your digital footprint is the window that highlights to the world who you are. When you have no control over how you want to be seen, you are making a big mistake because you are leaving it up to someone else to make a judgment for you as to who you are.

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    As Jeff Bezos, the founder of Amazon, once said, “Your brand is what people say about you when you are not in the room.”

    In her book, Becoming, Michelle Obama writes about the importance of having a personal brand and her journey to defining her personal brand. She wrote that:

    “if you don’t get out there and define yourself, you’ll be quickly and inaccurately defined by others.”

    When you have a personal brand, you are in control. You know exactly what people will say about you when you leave the room.

    The magic of a personal brand is that gives you control over how you want to be seen in the world. Your confidence and self-belief enable you to leverage opportunities and make informed decisions about your career and your future. You no longer experience the frustrations of a career meltdown or being at a crossroads not knowing what to do next with your career or your life. With a personal brand, you have focus, clarity, and a strategy to move forward toward future success.

    Creating your personal brand does not happen overnight. It takes a lot of work and self-reflection. You will be expected to step outside of your comfort zone not once, but many times.

    The good news is that the more time you spend outside of your comfort zone, the more you will like being there. Being outside of your comfort zone is where you can test the viability of and fine-tune your personal brand.

    5 Key Steps to Creating Your Personal Brand

    These five steps will help you create a personal brand that will deliver you the results you desire with your career and in life.

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    1. Set Your Personal Goals

    What is it that you want to do in the next five years? What will your future self be doing in the next five to ten years? What is important to you? If you can answer these questions, then you are on the right path. If not, then you have to start thinking about them.

    2. Create Your Unique Value Proposition

    Create your unique value proposition by asking yourself these four questions:

    1. What are your personality features? What benefit do you offer people?
    2. Who are you and why do people enjoy working with you?
    3. What do you do and what do people want you to do for them? How do you solve their problems?
    4. What makes you different from others like you?

    The answers to these questions will give you the information you need to create your professional story, which is the key step to creating your personal brand.

    3. Write Your Professional Story

    Knowing who you are, what you want, and the unique value you offer is essential to you creating your professional story. People remember stories. Your personal story incorporates your value proposition and tells people who you are and what makes you unique. This is what people will remember about you.

    4. Determine Which Platforms Will Support Your Personal Brand

    Decide which social media accounts and online platforms will best represent your brand and allow you to share your voice. In a professional capacity, having a LinkedIn profile and a CV that reflects your brand is key to your positioning in relation to role opportunities. People will be connecting with you because they will like the story you are telling.

    5. Become Recognized for Sharing Your Knowledge and Expertise

    A great way for you to promote yourself is by sharing knowledge and helping others. This is where you prove you know your stuff and you gain exposure for doing so. You can do this through social media, writing, commenting, video, joining professional groups, networking, etc. Find your own style and uniqueness and use it to attract clients, the opportunities, or the jobs you desire.

    The importance of having a personal brand is not going to go away. In fact, it is the only way where you can stand out and be unique in a complex changing world of work. If you don’t have a personal brand, someone will do it for you. If you let this happen, you have no control and you may not like the story they create.

    Standing out from others takes time and investment. Most people cannot make the change by themselves, and this is where engaging a personal brand coach is a viable option to consider.

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    As a personal brand coach, working with my clients to create their personal brand is my passion. I love the fact that we can work together to create a personal story that defines exactly what people will say when you leave the room.

    Other People’s Stories

    Listening to other people’s stories is a great way to learn. In his article, 7 TED Talks About Personal Branding, Rafael Dos Santos presents the best Ted Talks where speakers share their stories about the “why,” “what,” and “how” of personal branding.((GuidedPR: 7 TED Talks About Personal Branding))

    Take some time out to listen to these speakers sharing their stories and thoughts about personal branding. You will definitely learn so much about how you can start your journey of defining yourself and taking control of your professional and personal life.

    Your personal brand, without a doubt, is your secret weapon to your career success. As Michelle Obama said,

    “your story is what you have, what you will always have. It is something to own.”

    So, go own your story. Go on the journey to create your personal brand that defines who you are, highlights your uniqueness, and the value you offer to the world.

    Featured photo credit: Austin Distel via unsplash.com

    Reference

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