Podcast Summary: Med Spa CEO

Episode: The ONE Belief About Money That Is Stopping Your Growth (+ How to Fix It Fast)
Host: Heather Terveen
Date: January 7, 2026

Episode Overview

In this episode, Heather Terveen addresses a core mindset barrier that holds many med spa and aesthetic practice owners back: the belief that true generosity and abundance are outcomes only achieved after reaching a certain financial milestone. She explores how this scarcity mindset affects decision-making, business growth, and leadership, and offers practical advice on shifting perspectives so that abundance and generosity become daily habits regardless of external circumstances.

Key Discussion Points & Insights

1. The Decision to Be Generous and Abundant (00:00 - 04:45)

• Heather emphasizes that generosity is not contingent on how much money you have; it’s a decision and a way of thinking.
  • Quote: "Being generous is a decision. I think many of you...think that generosity will happen once you've hit a certain amount of money...what I would offer to you is that generosity...is a decision and a habit of your thinking." (00:00)
• She shares that abundance should be cultivated now, not as a future reward.

2. Handling Criticism and the Energy Behind Scarcity (04:46 - 11:55)

• Heather recounts an experience with a negative comment about a low-priced educational offering, showing how scarcity and lack of generosity can drive our responses—even when value is present.
  • She responds without resentment, reflecting on how people interpret expenses and investments.
• Quote: "If you comment on one of my ads, you're gonna be fed a lot more of my ads. ...So sometimes I block people when I think it's like a gift to them that they don't have to see my ads anymore." (07:20)

3. Personal Story: Scarcity in Childhood and Early Generosity (11:56 - 19:45)

• Heather details her challenging upbringing, including her family's bankruptcy and struggle with basic needs, and how these experiences shaped her beliefs about money and work ethic.
  • As a teenager, she deliberately chose generosity—even when she had little—experiencing firsthand the joy that comes from giving.
    • Quote: "Even back then, I can remember taking my whole entire paycheck and taking my friends out to lunch or dinner...I got to experience all of that generosity." (15:45)

4. The Cost vs. Investment Mindset (19:46 - 34:12)

• Many business owners and their advisors (e.g., accountants) focus on the cost of spending, not on the investment potential for growth.
  • Heather advocates for reframing business spending as intentional investments.
    • Example: When considering spending on marketing or coaching, see it as building the business, not draining it.
  • Quote: "When you make a decision that you are in charge of your own return on investment...you will show up with a different energy and give...an opportunity to actually be successful." (24:13)
• She highlights the danger of abandoning initiatives (like meta ads or SEO) too early due to this misaligned thinking.

5. Generosity's Psychological Benefits and Common Traps (34:13 - 38:02)

• Research and experience show that being generous benefits the giver as much as (or even more than) the recipient.
  • She notes her own experiences tipping service workers and supporting her team, finding joy in the act of giving itself.
• Heather reflects on how some people find it hard to invest in their own business or self-development, remaining stuck in a "grudging" mindset.

6. Raising Prices and Leading by Example (38:03 - 40:54)

• Heather connects her abundance mindset to her willingness to charge premium prices and coach others to do the same. Knowing that financial health enables greater generosity in turn.
  • Quote: "I don't have a hard time charging a premium...because I know that the more generosity you can create...it does help to have enough money to pay your people well, to pay yourself." (39:15)

7. Looking Ahead: Setting the Tone for 2026 (40:55 - 46:18)

• Listeners are urged to consider how they’ll experience their investments in the upcoming year—are you approaching business with abundance or with fear and scarcity?
• Heather shares a story of a colleague who invested heavily in herself even when her business was small, attributing her rapid growth to that willingness.
  • Quote: "Many of you are waiting to have the multimillion-dollar business before you get to—or some of you have the multimillion-dollar business and are still miserable, right? Because that is a circumstance and circumstances can change, right?...But your thinking is what is going to create your experience." (43:45)

Notable Quotes & Memorable Moments

• "Being generous is a decision." (00:00)
  Heather’s central thesis, establishing mindset over circumstance.

• "I love paying all the service providers who help around our house for things. I love paying my contractors...I love having the opportunity to pay them well." (11:30)
  A personal affirmation about the joy found in providing for others.

• "So many of you...talk about [marketing investments] like it was a waste of money and abandoned ship on that thing. ...That isn't a waste of money, first of all, and because they think about it like a cost instead of an investment, they end up abandoning ship on this thing." (28:20)

• "Your ability to actually enjoy your investments this year...the money you invest in your team...in your contractors...in your coaches...the money you put back into the economy—every single time I have an Uber driver...I am so excited to tip them." (36:30)

• "Your experience of running your business has an entirely huge impact on the longevity you will have in this industry." (41:45)

Timestamps for Key Segments

• 00:00 Introduction to the episode’s theme of generosity and abundance
• 04:46 Example of audience feedback and scarcity in purchasing behavior
• 11:56 Heather’s childhood story and early experience with money and generosity
• 19:46 Cost vs. investment mindset, and examples in marketing investments
• 34:13 Psychological rewards of generosity for the giver
• 38:03 Charging premium prices and sustaining generosity
• 40:55 Looking forward to 2026: Choosing an abundant mindset

Final Reflections

Heather wraps up with a challenge for listeners to examine where scarcity mindsets are limiting their growth, both financially and personally. She encourages making the decision to lead with generosity and abundance in 2026, regardless of what external circumstances may arise—asserting that this shift will yield greater satisfaction, sustainability, and long-term growth in business and life.