Right now, would you say that you have more than enough, enough, or not enough?
We’re willing to bet you said: “not enough”.
This kind of thinking leads to a scarcity mindset: a deep belief that there are not enough resources for everyone. This limited thinking can affect our thought patterns in the long term.
It usually flies under the radar because most of us were taught and wired to get stuck in the feast-and-famine cycle.
70% of girls and women say they do not feel like they are enough or like they have enough.
This is because, from a very young age, we are told to be quiet in the corner and just nod along with whatever the loudest voices in the room are saying. This causes us to make ourselves seem smaller so we don’t draw attention to ourselves.
What we may not realize is how much it affects the way we see ourselves.
When you’re told to be meek and mild, it won’t come as naturally to take chances and conquer your fears head-on as being a smart risk-taker is a huge part of being a female entrepreneur, but so many of us don’t know how to take calculated risks or are afraid to because we weren’t raised that way.
We need to take the power back. And it starts with resetting our scarcity mindset.
Why female entrepreneurs fall into scarcity mindsets
So much of the day-to-day decisions you make as a female entrepreneur are subconsciously made based on your mindset.
Your mindset is usually shaped by your upbringing, current financial situation, or what you learned from your parents or other authorities.
Most of us grow up with a decision-making mindset that is rooted in scarcity rather than abundance. A scarcity mindset tells us that there isn’t enough for everyone.
This can cause some people to hold tightly to their resources because they don’t think it will ever come back, or discard it unwisely because they know they won’t have it in their possession for long anyway. Neither of these habits is healthy when we make business decisions.
7 signs that you may have a scarcity mindset
- Most of the time, you have just barely enough to get by but never more.
- You frequently compare your business to other women around you.
- You don’t feel like you’ll ever “make it”.
- You sometimes feel icky when you charge for something you’ve created.
- You always tell your friends that you can’t afford to [fill in the blank].
- You wish you could just create stuff for free and still have your bills paid on time.
- You want to travel but never have found room in the budget to make it happen.
If you have a scarcity mindset, you still have time to evolve it into an attitude of abundance.
With an abundant mindset, you believe that there are enough resources for everyone, and thus, you don’t have to make decisions out of scarcity.
Here are a few reasons why you’ll want to make a change to your scarcity mindset as a female entrepreneur for increased online business growth. It’ll help you leave the feast or famine cycle for good!
Mistake 1: Saying “yes” to the wrong clients
Have you ever felt in your gut that you shouldn’t work with a potential client but did anyway because you needed the money?
This is one of the decisions we make when we are operating with a scarcity mindset.
If you don’t feel like other work opportunities are around the corner, you will find yourself saying ‘yes’ to any project that comes your way. This isn’t a great way to build your business because you’ll work with clients who aren’t the right fit for you.
To make decisions from a more abundant place, here are a few questions you can ask yourself before deciding to book a client project:
- Does the client respect my time and attention?
- Do they seem just as invested in the project as I would be?
- What inspired them to choose me over other collaborators?
- Are there any red flags that popped up during our initial conversations?
- Is the client ready to make a secure financial investment in their business?
Mistake 2: Doing what everyone else wants you to do vs. what you want
When you are running an online business, it’s helpful to know what your audience wants you to create and what topics they want to learn more about. Where this goes awry is if you find yourself feeling less and less passionate about the content you are creating.
Because you have to create consistent content as a female entrepreneur, you have to avoid the mental burnout that comes from being uninspired. If you are listening more to other voices rather than your own, you may want to put your projects on pause for a bit so you can focus on what message you want to share.
Innovation can’t happen without the right inspiration! Remember that the loudest voice should always be your own. That way, you can create products that you were born to make and share stories your audience will love.
Mistake 3: Saying you can’t do something before you’ve tried it
Our minds are filled with “I can’t” sentences. It’s human nature. It’s easier to say you can’t do something than to actually try and risk not doing as well as you hoped. But if you haven’t tried it, you never know what you could excel at with practice.
Here’s a good example. So many female entrepreneurs tell themselves that they can’t feel comfortable on camera. They plead that practicing wouldn’t make any sort of difference. They would much rather stay off camera and find other ways to seek online business growth.
They tell themselves over and over that they can’t do it, but it really is that they won’t do it. Everyone can show up on camera. Some might be more naturally inclined to present themselves on camera, but it doesn’t mean that it’s a gift you either have or you don’t.
People like to say that practice makes perfect, but in business, all we are looking for is that practice makes progress. That’s the best way to keep feast or famine thoughts at bay. Is there something you’ve been telling yourself that you can’t do? Closely examine that belief to see what is holding you back.
Mistake 4: Not knowing where to start so you never get started
This is one of the most common costs of having a scarcity mindset in business. Most small business owners don’t have a degree when they start their business, or if they do, they may not have taken any specific business classes in college.
What does that tell us? That most of us are just figuring out this whole business thing as we go along. But seriously! Not knowing where to start is a very common occurrence in business. It’s almost the lifestyle of a female entrepreneur!
You can’t be scared by not knowing where or how to start working on a new project. To work from an attitude of abundance, you’ve got to take some chances. Don’t be afraid to get scrappy. That’s usually when you are at your most creative!
Stop stunting your business growth with scarcity mindsets
What are some of the limiting beliefs that you are ready to reverse? It may feel like an uphill battle right now, but what if you had other people with you on the journey?
Inside our membership community, we do more than talk about Instagram engagement and increasing our traffic with Pinterest (although we do love geeking out about these topics!).
We also have real talk (and I mean REAL TALK) about issues like this. Every female entrepreneur in our community has been affected by the scarcity mindset at some point in their career. Some of us are still working through it, but it’s nice to know you have a community that gets it.
In order to be a content creator and entrepreneur who thrives, you have to focus on personal growth as much as business growth. That’s what’s were here to help you do.
We are behind you 100% and excited to cheer you on.
You are doing tough work, but it’s so worth it.