Avoid Scarcity Thinking


Hey friends,

I read a book this week called “The Soul of Money”, which delves into our complex relationship with money and explores the impact of scarcity thinking on our lives & the world around us.

And there was this really powerful passage that really got me thinking that I wanted to share with you too:

“We spend most of the hours and the days of our lives hearing, explaining, complaining, or worrying about what we don’t have enough of. We don’t have enough time. We don’t have enough rest. We don’t have enough exercise. We don’t have enough work. We don’t have enough profits. We don’t have enough power. We don’t have enough wilderness. We don’t have enough weekends. Of course we don’t have enough money—ever. We’re not thin enough, we’re not smart enough, we’re not pretty enough or fit enough or educated or successful enough, or rich enough—ever.”

Reading this got me reflecting on the idea of scarcity and how it might be guiding my behaviour.

For example, it took me a long time to make the decision to shut down the Part-Time YouTuber Academy because of scarcity thinking. I always had this thought in the back of my mind that ‘I really need the money’, so shutting it down would be a terrible idea even if it no longer vibed with what I really wanted to do.

But, shutting it down is probably one of the best decisions we’ve made for the business. I’m now able to do more of the stuff I enjoy, while still making a very respectable amount of money.

I’ve also realised that I sometimes have similar thoughts when it comes to sponsored videos too.

Sponsored videos have deadlines, which means I often feel like I’m forced to make a video that I don’t really want to make for the sake of that deadline. Again, this is a decision based on scarcity, because in my mind I’m thinking that I need to secure as much sponsorship income as possible as this opportuinity may not always be available.

So, I’m trying to make more of a conscious effort to shift my focus to a mindset of sufficiency, where I feel more empowered to make decisions that align with my values and creative vision, rather than feeling like I have to constantly make more money.

This is hard though.

If someone were to look at our business from the outside, they might think ‘oh my god, these guys are absolutely raking it in’. But, on the inside it feels scarce. It still feels like this could all disappear very quickly. And it’s hard to convince myself that what I have is enough and to feel happy with that.

So, here’s question for you: What actions or decisions are you making in your life right now that are driven by scarcity?

I always appreciate hearing people’s responses, even if I can’t reply to everything – so please hit reply if you’re keen to share your thoughts 🙂

Have a great week!

Ali xx

⏳ 80,000 Hours – What are the world’s most pressing problems?

We all want to make a positive difference in the world, but there are loads of different ways we might try and do that.

So it makes sense to ask: what are the very most pressing issues in the world today that we could try and help solve? And how do we know?

Is it preventing climate change, nuclear war, or another pandemic — or is it something else entirely?

My friends at 80,000 Hours have spent the last decade researching this question, and related topics, because they have one mission: to help people use their career to make a big, positive difference in the world.

Here’s what their research found.

Their advice about how to do good with your career can be pretty unconventional, and not what you’ll normally hear from careers services. That’s because they focus really closely on how to actually make a difference, and base their advice on that.

Which is why they have tens of thousands of words written on risks from advanced artificial intelligence, and not just advice for applying to jobs (…but they do also have advice for applying to jobs)!

Plus, because they’re a nonprofit, everything they provide is totally free, forever!

They also have a podcast, a regularly-updated job board, and free 1-1 calls with careers advisors.

And if you like, they can send you a copy of their in-depth career guide for free — check it out here.

Thanks to my friends at 80,000 Hours for sponsoring this issue of Sunday Snippets 🙏

♥️ My Favourite Things

🎬 YouTube video – Alex Hormozi: The University of Texas at Austin. Alex shares some really solid advice in this 1 hour lecture / Q&A for anyone looking to start a business. I love how real and brutally honest he is. Make sure you give it a watch 🙂

🎙️ Podcast – Someday Is Today: Achieve Your Goals And Live Without Regret – Matthew Dicks. Matthew is an internationally bestselling author, podcaster, and a 59 time champion storyteller who teaches storytelling to individuals, companies and universities. In this episode of Deep Dive, we talk about Matthew’s story and some of the strategies he talks about in his book for getting from dreaming to doing and the practical ways to turn idle moments throughout your day into productive opportunities so you can move closer to your goals.

🚶 Walking meetings – Now that the weather is getting a little nicer, I’ve started taking some of my calls while walking outside. This helps me to get steps in and makes me feel super energised, so I can wholeheartedly recommend walking meetings. Also, when having a conversation with someone on my team in real life, walking prompts more creative brainstorming and ideas than sitting in a room. So I’m going to be asking more people to do walking meetings over the coming weeks 😛

🎬 YouTube video – We Paid $68k For A Mastermind — Here’s What We Learned. Dickie Bush and Nicolas Cole talk about their takeaways from their Mexico Mastermind. They talk about the wrong things business owners focus on, the best way to use ChatGPT, and why you’re wasting money on paid ads. I immediately sent the discussion on ChatGPT to my team as I found it super interesting.

🍌 Frozen fruit – I’ve been on a bit of a protein shake hype recently thanks to the vegan protein powder I mentioned in a previous edition of Sunday Snippets. And thanks to my housemate and sister-in-law Lucia, I now realise that you can get frozen berries, frozen bananas, and other frozen fruit from the supermarket. So my daily protein shake is now water, plus two scoops of chocolate vegan protein powder, and a single frozen banana. That makes a really beautiful tasting chocolate and banana shake that I have every morning.

🎬 My New Videos

📱 What’s on my iPhone 14 Pro – Every year I do a what’s on my iPhone video and share all the apps that I use so that you might learn about some apps you haven’t heard of or just get some inspiration to use your phone more intentionally.

🎒 What’s in My Bag (2023) – I recently went to Kiruna in Sweden, and I thought it’d be a great opportunity to do my annual what’s in my bag video. Let me know if there’s anything you think I’m missing 🙂

✍️ Quote of the Week

“Crushing it is about living on your own terms, equally satisfied with your income and your life. You will get no judgment from me if your goals are modest. I have obnoxious ambition, but I don’t think everyone else should, and I don’t want anyone to think I’ve got a mold and expect everyone who reads this to force themselves to fit into it. But please, if you’re not willing to do the grind, for God’s sake do not complain when your business doesn’t grow as fast or as big as you want it to.”

From Crushing It by Gary Vaynerchuk. Resurfaced using Readwise.

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