Posts tagged money
Profits Are Yours for the Taking

Do you have a mindset of scarcity or abundance? If you’ve heard my previous podcast on struggling with food addiction, I used to have the mindset that I had to eat the last four brownies that were left. I did this because I was scared that if I didn’t do it now, that I wouldn’t have the opportunity to have that taste, that feeling, that experience again, and I’d regret missing out on it. That is the scarcity mentality, where you constantly fear that the thing you really want will be gone tomorrow. 

Now, I want to translate that fear mentality into profits. I believe that some of us are discounting what we have to offer because we are scared that if we don’t offer the best deal, someone else is going to offer a better deal, and we’ll lose out on business. Or, we are afraid to charge what we believe we’re worth because we’re afraid to lose a client because of it.

But I want to tell you that profits are yours for the taking. You don’t have to be afraid of the “what-ifs.” I think sometimes we make things up in our minds that don’t even exist. We create these irrational fears. That’s natural. But, how can we train ourselves to think differently? And, how do we adjust to have an abundance mentality instead?

What is money?

Money is an idea backed by confidence in its exchangeability. I’ll say it again: we’re in business together. We’re entrepreneurs. There is a difference between rich people and wealthy people. Rich people have money. Wealthy people have time and money. What would you do if you had unlimited time? If money wasn’t an issue?

Don’t you want to get to that point? You can create that type of life for yourself if you have an abundance mentality.

Here’s the truth of it: historically we’ve proven that we don’t run out of resources. We won’t ever run out. When we’ve lost our way or we’ve come to a crossroads and needed to find a new path, historically we have always figured it out.

An author I recommend is Paul Zane Pilzner who wrote a book called Unlimited Wealth. In it, he explains that the essence of economics is alchemy. In our history, we’ve figured out how to create something from nothing. We can look at Benjamin Franklin and his discovery of electricity, or Thomas Edison creating the light bulb. We can look at Andrew Carnegie figuring out how to manufacture steel for skyscrapers using an efficient process with an affordable cost. There’s Rockefeller, converting crude oil into kerosene and then kerosene into gasoline. If we fast-forward to more recent times we could talk about artificial insemination or cloning. We have a legacy of figuring things out. Why? Because we are innovative problem solvers.

Innovation as a Means for Success

Confrontation leads to innovation. When you’re searching for a method or solution, establish a group of people who don’t necessarily agree with each other, but have a common goal. That’s the beauty of creating a team. You have a problem and you figure it out, through innovation and teamwork, with differing insights available.

What are the reoccurring themes of your own self-talk? Are you worried? Fear is just false expectations appearing as real. The first step is to recognize whether you have a scarcity mentality or an abundance mentality. If you lean more to the scarcity side, that’s okay. But consider adjusting your viewpoint to see the potential and abundance all around you. Money is everywhere and it’s available for the taking.  It all comes down to how you choose to look at it.

If I could leave you with one other resource today, I’d recommend a book called Rich Dad Poor Dad by Robert Kiyosaki. It asks questions about how you grew up looking at money, viewing money, and how you can recognize and acknowledge these aspects.

How will you change or expand your current beliefs so that you aren’t sitting back and worrying about making profits, but that you recognize that profits are all around you? There are so many creative ways to have profits come to you… they are yours for the taking.

Do you have more tips for developing an abundance mentality? Or, do you want some more help leaving behind your scarcity mentality? Share with us on our Instagram and in our sister company's private Facebook group! We will see you there! 

Three Hairdresser Money Mind Shifts, Featuring Industry Expert Shana Dee

As beauty industry professionals, it’s so important for us to think in ways that give us the outcomes we desire. When you’ve been standing on your feet for eight hours, working with numerous personality types, and taking the last walk-in appointment, you definitely need to put mind over matter and focus on positive thoughts! Today, Shana Dee—Master Stylist based in DC with over 16 years of beauty industry experience—is sharing three mind shifts that will put you in control of your own life and your money!

#1 Eliminate Competition

Shana’s first tip is to eliminate competition. You might be thinking: how do I get rid of competition when there is a salon on every other corner? Friends, Shana Dee reminds us that your only competitor is your own mind.

Let’s start with a short story to show you what we’re talking about and how you can eliminate competition! There is a successful salon in the Midwest that has been passed down through four generations. It is a strong community staple, but then a chain salon opened and started offering $6 haircuts. When this chain salon opened, the owner got nervous and approached his son worried, “What are we going to do? Our ‘competition’ is offering $6 haircuts. We can’t compete with that! We’re going to go out of business!”

Instead of panicking, the son said to his dad, “What would it take for us to make more money than last year? Let’s each write down three ideas that can help our business succeed.”

Guess what they came up with? They developed a new slogan: We Fix $6 Haircuts. How perfect, right? In that year, not only did they thrive, but they made more money in that year than any year prior!

Shana Dee explains that when you start viewing other salons and even your coworkers as competition, you kill your creativity. You may be wondering, where does this scarcity thinking even come from? As kids, we were taught that you can’t have another piece of the cake because that means someone else won’t have a piece. But, we live in an environment where you can create an even bigger cake, and eat it too! Instead of thinking about what you lack, think in abundance.

How do you change your mindset to one of abundance? Shana suggests that you start with gratitude. For instance, say something like, “I’m so grateful that I have a full schedule and I’m always attracting new clients.” Or try, “I work with so many talented hair stylists, and I receive a lot of inspiration from them. I love that we collaborate and are always lifting each other up!” Positive affirmations and expressing gratitude are the quickest ways to bring creativity and abundance to your life.

#2 Be an Expert

Shana Dee reminds us that in every industry, the expert is always paid the most. A CEO is paid more than the intern and a lawyer is paid more than a paralegal. So, why do so few people become experts in their chosen field? It’s all about what you know and what you do.

When you go home from work, what are you doing to increase your knowledge about being a hair stylist? The opportunities to increase your knowledge are truly endless! You can learn how to edit videos, use Photoshop, take advanced color and cutting classes, read business books, and listen to podcasts! Shana stresses that becoming an expert separates you from the herd and makes you stand out!

How do you separate the expert from a novice? Shana Dee uses one simple question: are you confident or certain? Let’s say that you absolutely love hair color, and you’ve decided to become an expert. When you’re in the middle of a color correction appointment, are you confident that you know how to fix it, or are you certain? Are you running to the back to ask another stylist for advice or do you know every required step to get from A to B? There is a big difference between being confident and being certain—this is the difference that will make you an expert. Pick a craft that really lights you up and become an expert!

#3 Mind Over Money

We’ve all been there before when we look at our schedule and our jaw hits the floor! You think, “OMG, I have no clients!” Then the stress hits you and you start worrying about money. It’s easy for you to start blaming your surroundings and think, “If only I were at a different salon, I would have more clients.” Shana Dee explains that these thoughts place you in a state of desperation and jealousy. Trust us, money will not come from these thoughts!

The difference between stylists who are booked with a steady stream of clients and the ones who are worrying about money is how they are thinking. The more successful stylist is thinking different thoughts; she is thinking, “I love being so busy!” and “I am so grateful that clients choose me to be their stylist—I’m providing them a great service!” Shana emphasizes that these positive thoughts also spill into other aspects of your life, and you go home pumped up and ready to become an expert! You start spending more time mastering your craft and building your following. Start thinking positive thoughts and the money will follow!

What’s Next?

Now that you know the three money mind shifts, you need to set some goals for yourself. Your goal could be to post one Instagram picture or video every day, or you plan to get five new clients in a week. Whatever your goals are, Shana reminds us that you really have to set clear goals and go for it! You don’t have to know every single step along the way, you just have to take the first step—you will get closer every day!

Do you want to share your goals with other industry pros who can keep you accountable and give you confidence? Check out our sister company’s private Facebook group! We can’t wait to see you there!