When Is The Right Time To Invest In Your Biz?
This is a loaded question isn't? We all hear and read a lot about how investing is the ONLY way you will move forward in your business. Since there is a lot of transparency (which I love) among entrepreneurs we often know exactly how much people invest and it can be in the tens of thousands of dollars. That can be freakin' scary! What if you don't have that kind of cash hanging around? Maybe you don't want to go into credit card debt. So what do you do? How can you wisely invest so that you keep moving forward and gaining momentum in your business?
Taking risks is what any business is about. There is absolutely no doubt about it. Just starting a business is a risk. You may feel shaky with your self-confidence and your ability to make it happen. The "what ifs" start playing around in your head. And yes, some mindset work could definitely help with this. But sometimes giving yourself a reality check is what you need to be clear about your desires, goals and vision.
If you have invested a lot in the past and feel that you did not see the results you had hoped for, check in with yourself to see if you REALLY took the action needed and required to Get Shit Done. Did you apply everything you were taught and every action step set forth or did you let things slip? Have you repeatedly done this and are now at the point of frustration because you didn't find that magic formula to propel you to success? I did a few videos about the topic of serial investing. You may like to check those out here, here and here.
There is no magic formula, program or coach. Yes you can learn a TON by investing in yourself and create fabulous friendships with people you can go to for support and brainstorming. That is truly invaluable. But it is up to you to put all you have learned into action. And that can be overwhelming.
So even though you can start a business online for zero dollars, you may find it so much easier and yes, relaxing, if you find someone to help you along the way. Working with someone who can help you brainstorm your ideas, create project plans, help you with technical stuff AND get you going with some of the creative aspects of your business can be priceless and just what you need to really get on track with your business vision.
The good news is this does NOT have to cost the heart-stopping tens of thousands of dollars. You can truly find someone to guide you through the process of creating an action plan and even taking some of the load off your hands. I of course, happen to be the someone who LOVES doing this stuff.
There is nothing more exciting than seeing a dream become a reality. YOUR dream CAN become a reality. This is where the wise investing comes in. Really take a step back and feel into what you are willing to spend money on to make certain you are Getting Shit Done.
Are you ready to commit to taking the action needed? This is either a HELL YES or there is some kind of feeling holding you back from this. If so what is it? Identify it and write it down because once it's exposed you can change it.
Have you moved significantly forward in your business over the last 6 months to a year? Make sure to write down your accomplishments. We often forget how far we have come.
How much are you willing to financially invest? You may say "nothing" but that's not very realistic if you are still no closer to your vision than you were 6 months or a year ago. More than likely you feel like you never have the "extra" money to invest. You are tired of hearing, you get out of it what you put into it. Especially if you have invested in program after program or coach after coach and you have not made a return on the investment yet. So really consider how much you can reasonably spend, that may be a bit of a stretch, but you feel fairly confident you can recoup once you have things in place in your business. I say "fairly confident" because often we need to take baby steps in this, no need to dive off the deep end.
What EXACTLY is it you want to implement in your business that you have not yet? Is this the thing you need clarity and planning on in order to really move ahead? If so, then this is what you need to invest in. The person who can help you with this specific thing is who you need to look for. Resist any temptation to learn something new. You MUST get the help you need to sort out and take action on THIS thing. Then you can move on to the next thing.
Next consider how you best work and Get Shit Done. Do you work best in a group format or working with someone one on one? Groups tend to be more about working independently and may have a lot of self-directed action steps. You are guided as to what to do but it may not be specific to your needs.
If you work with someone one on one it is all about YOU and your business specifically. You will have relevant steps specific to what you are creating and will know what you need to do and take action on. Personally, I work much better this way.
Let me be clear, there are MANY different stages of your business where it is important to invest if you want to keep moving up and forward. Hopefully this gives you some guidance however, if you are in that stuck place where you KNOW you have a great idea and a massive desire to create your business but you just don't seem to be moving in that direction at all. Lack of clarity and overwhelm are literally paralyzing.
If you don't know where to begin but you are ready to take action and FINALLY make serious strides in your business, consider talking to me about it! I can not only help you create a project and/or action plan, I can also create some of the things you will need to let everyone know about your business. And if the techy stuff, like creating a website that YOU can easily manage or getting that whole mailing list thing together, is what's holding you back, I can help create it and then give you a personal tutorial on how to work on it yourself.
Together we've totally got this! Schedule your free 30-minute connection call right here and I'll answer any questions and we can explore the possibilities. www.cherriseboucher.com/schedule