196: How to Find Inspiration in Scarcity w/ Kelly Goldsmith

As a small business owner, you actually have a lot of flexibility. You can pivot what you do and make offers that big companies can't. Especially during tough times like these, you can find opportunities that may not have existed before. As today's guest is going to tell you, there's a gift that lies in scarcity. Key Takeaways It's important to keep priorities in mind when running a small business. Especially when times are tough, it's a good idea to ask yourself what your goals are. By looking at what gives you the best return on investment, you can prioritize the most important parts of your business. Even if a client doesn't want to move forward on a project quite yet, there is probably still something that you can do for them. Look back at past projects and share your ideas with them. Maintaining helpful lines of communication now will pay off later when the situation improves. No matter how amazing your work is, if you don't market it, you won't sell it. Marketing, when done with integrity, is not a sleazy thing. You have something to offer that other people need. When you reach out there, you will find that there is more abundance than you may have thought. About Prof Kelly Goldsmith Professor Kelly Goldsmith is an award-winning, Yale-educated behavioral scientist who also appeared on Survivor Africa. She examines consumers' responses to uncertainty and scarcity, uncovering, and explaining seemingly paradoxical effects. Looking to Scarcity for Good Ideas It's common to question what you're doing in business during tough times. Kelly recognizes that it is actually during times like these that some of the best ideas are born. Maybe you've been sitting on a particularly innovative idea but haven't acted on it yet. It's also a time to reassess how you're marketing your services. Getting Cozy with Marketing Even if you have something great to offer, you need to market it appropriately. Marketing to everyone will only lead to disappointment. Even though it may feel like you're excluding potential customers, you need to find your niche. This will differentiate yourself from the competition and also lead to more referrals at the same time. Do you have a business idea that you haven't tried yet? Tell me what's holding you back in the comments on the episode page!   In This Episode: How and why to reassess what you do in the current economy [8:40] New ways to market your services when the market is down [13:30] How to get inspired by scarcity [20:28] Becoming better friends with the idea of selling [22:10] The dangers of marketing to everyone [26:10] Leveraging the agility of your small business [30:40]   Quotes Everybody here is a creative person. Creative people are the best at coming up with new ways to make money." [11:04] "Fundamentally, any goal is associated with a sense of scarcity. Anything you want to get, be, or do means you have to recognize what you don't have." [21:52] "The benefit of being in a small business is that you can be agile and you can adapt. If you feel like you can't, then you have a misperception about what's great about your industry." [31:28]   Links: Tell me about your transformation for a chance to get featured in Episode 200! Sign up for the Studio Sherpas Webclass Storyblocks Find Prof. Kelly Goldsmith online Follow Kelly on Linkedin | Twitter | Instagram| Goodreads To Sell is Human by Daniel Pink Influence by Robert Cialdini Small is the New Big by Seth Godin The 4-Hour Workweek by Tim Ferris Second Life Podcast   Additional Links: Check out the full show notes page Do you have something to share on this podcast? Fill out this form here. Be sure to take the Studio Sherpas survey for a chance to win some incredible prizes (if we do say so ourselves!) Stay up to date with everything we're doing at Studio Sherpas Tune in to our weekly Facebook Lives Follow Studio Sherpas on Facebook | Twitter | Instagram If you haven't already, we'd love it if you would take 1 minute to leave us a review on iTunes!