Sep 14, 2018
Mindset is something that everyone struggles with from time to
time. Whether you are experiencing a lack of confidence or stuck
with an “imposter syndrome” mentality, you have the power to change
your mindset. Offering a new service, raising your prices, or
entering a new market can all be triggers that can set off mindset
Today, I talk about how behavioral economics plays in, and how
you can adjust your mindset by overcoming a couple of aspects where
your brain is contributing to mindset problems. I talk about
vicious/virtuous cycles, the confidence/competence loop, and how to
shift your outlook. Of course, this episode features research and
real life examples to help cement the concepts of this behavioral
- [03:16] Everyone struggles with mindset issues
- [03:32] Imposter syndrome is when you feel like a fraud.
Experts estimate that 70% of people have felt this from time to
- [04:05] You could also have a lack of confidence around pricing
or your offering.
- [04:23] I'm going to help you create a simple shift to break
out of mindset problems.
- [04:39] A vicious cycle is where you get stuck in a downward
cycle. Your brain fixates on small problems and makes them seem
- [04:58] There is also a virtuous cycle. This is good piling
- [05:15] The confidence/competence loop is a great example of
- [05:28] Confidence matters when it comes to sales. Being
confident is what closes deals.
- [05:49] As you get more confident - you gain competence.
- [06:16] A real-life example of this virtuous cycle is when you
increase your pricing and get so comfortable sharing that increased
price that you are saying it like you are saying the weather.
- [06:49] Practice in the mirror and say it out loud until you
really begin to own that price.
- [07:05] You need to do this because your buyers subconscious
brain will pick up on the slightest hesitation.
- [08:03] I talked a lot about mindset in episode 10. I shared a
story where I was hired as a reservation agent at Alaska Airlines
when I was 18 years old.
- [08:42] My training was extensive. This job prepared me for the
future. When you quote someone a price it doesn't matter what that
price is. And it doesn't matter whether you would be willing to pay
that price or not.
- [11:00] You need to sound confident and say that price as if it
was nothing. My confidence could greatly impact the close rate for
- [12:04] A price is a price. I would read my script over and
over all day.
- [12:29] Say it with a smile and wait as long as it takes. I was
outwardly confident and calm.
- [13:22] At my first agency job, I learned how to quote high
hourly rates. Always remember that you are worth your hourly rate.
It was chosen for you for a reason and never doubt your worth.
- [16:22] You need to feel like you are worth it whenever you
walk into a pricing situation.
- [16:43] The behavioral economics of mindset specifically around
anchoring & adjustment and relativity.
- [17:32] Do not set the wrong anchor. We are exposed to more
content in the social media world.
- [17:56] Don't think you can't launch until you meet some
- [18:22] Don't set your anchor against people who have been in
business for a long time and have a giant team of people.
- [18:41] People who have the money to create a lot of content
also have the money to create a lot of ads. This is why you are
constantly seeing their information.
- [19:24] Reset your anchor and adjust down to a level that you
and your clients can accept.
- [19:59] What are you presenting to the world while you are
waiting for perfection?
- [20:31] The small steps approach applies to mindset, as
- [20:46] It's better to take one small step today than to sit
and dwell on the big picture.
- [21:44] If you are taking small steps, relative to yesterday or
the day before you are doing awesome.
- [22:52] I want to help you adjust your anchor to be on the
reality of what you are doing instead of on what other people are
- [23:33] When in doubt look to Dr. Seuss.
- [25:02] I love helping clients, and working with an expert can
be the jumpstart you need to get unstuck. Remember - 10% off virtual strategy
sessions and the October Workshop are only available through
the end of the month.
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