How To Invest In Your Business & Never Regret It

5 TIPS ON HOW TO INVEST IN YOUR BUSINESS & NEVER REGRET IT

Investing in your business IS a must if you want your business to grow and sustain a healthy trajectory, but can be really scary.

Before I was actually open for business this was the fear that kept me in the “planning my business phase”. It felt totally overwhelming. Then, I started investing in some courses to learn things I thought were essential to my business (that actually weren’t) and I just ended up getting in the habit of throwing money at the problem until I had nothing left to invest.

In this blog post I’m going to share with you, mistakes to avoid when investing in your business. I’ll cover:

• How to come up with a simple plan for your business
• How to identify what your business needs next
• The top 3 things to think about before you click the check out button on an investment

So whether you are paralyzed with fear about making an investment, or want to buy ALL the courses and information you’ve come to the right place!

The hard lesson of investing in the wrong things:

When I was first starting my online business I really struggled to trust myself and have the confidence to know what I was doing was the right thing.

I was raised in a family that prioritized entrepreneurship. Almost everyone in my immediate family worked for themselves. I knew good business practice when it came to brick and mortar business so naturally when I got into adulthood thats exactly what I did.

I had an Etsy shop and sold custom t-shirts. It was doing really well, and then I moved to a new city and became pregnant with our second baby. I moved away from family (so I had no help) and I was soooo sick while pregnant that getting up and doing physical labor that the business required of me was impossible. So I sold out of inventory and decided to open an online business and have been so blessed by that decision. There are so many perks to working online that I could go on and on. Maybe that should be a whole post!

Because the online world felt like completely uncharted waters to me, I really felt like I just didn’t know anything.

I had the thought of starting a blog and using that to get my name out there and start building from there. BUT

I also joined a Network Marketing company and from there got the (not so brilliant) idea that I should be doing only social media.

I tried and tried to make my Network Marketing product fit in with what I really wanted to do…Start an online coaching business with a few different services within that coaching business. I went down a rabbit trail of trying to make this work using only social media for A YEAR! I try not to be completely mortified by that timeline but it’s still so hard for me to think about.

I was listening to everyone BUT myself. I saw some friends get results doing something, I would try it, it wouldn’t work, I’d get discouraged, change something, it wouldn’t work and around and around I went not making the first sale for my coaching business and only selling like 600 bucks in a year for my Network Marketing product. I was SO discouraged and on the brink of just completely giving up (because I had spent ALL of my money to no avail). And then… I went back to the drawing board and stared a blog 🙈. Literally back to where I had started. Back to square one.

I finally started getting some traction and I was convinced I was where I was supposed to be.

So here’s exactly what I learned, and how NOT to make the same mistakes I did. This is how I switched my mindset around spending money for my business.

TIP #1 : Come up with a simple plan for your business

In the beginning you might be really tempted to start adding ALL the offers to your business because you NEED money. This was me too. I thought more offers = more sales. Unfortunately this is SO not how it works. What ends up happening is, the waters get muddied. There’s not a clear message and people don’t know… What it is that you’re offering OR what to come to you for.

Your whole business should be simple enough for my 5 year old to repeat back to you and someones 80 year old grandma to understand. Keep it SIMPLE.

And when you think you’ve simplified things enough, simplify them some more! So heres the plan:

• Start with 1 key offer and a freebie to point people to that offer.

I know this can be scary but BELIEVE in your offer. Believe in yourself enough to let one really good offer stand on it’s own and over deliver on that offer.

Freebies are going to depend on what your key offer is, but here are some ideas to get the wheels turning…

1. Free Resource library
2. Free guide
3. Free audio course ( like a guided meditation or series of coaching sessions)
4. Free e-cookbook
5. Free workbook

*What ever the freebie make sure you are actually giving someone a transformation within it and then point them to how you can give them the next (bigger) transformation.

Tip #2 How to identify what your business needs next

This is the one that if you’re like me, is tempting to SERIOUSLY overthink. I’m always second guessing myself here. It is so common and normal to think…

-What next step do I need to take for my business?

-What are my business goals? I don’t even know where to start.

-When do I take the leap to make a change?

The simple technique that I like to use when these questions go swirling around in my head is:

• Take a deep breath. Completely clear your mind.
• What is the ONE problem that keeps coming up as an obstacle for making money?
• What is one thing you can try on your own to alleviate the problem?
• Is there a skill involved that you haven’t learned yet?
• Is it something you can learn in a workshop or course? example- how to make an instagram reel
• If it’s more involved, Is there a coach or expert that I can enroll with that specializes or has knowledge in this?

When it comes to learning a new skill for your business, be careful to not get caught in “Freebie Fishing” if there is something that you really need to learn for your business the best way to learn it and gain clarity around the problem is to invest. Just make sure it’s what your business actually needs. If you still don’t know it’s what you need for sure, consult a business mentor or coach to help.

I look at this, this way: If you were to open a boutique or shop, You would have to install a point of sales system in order for your first customer to buy something. Not having this system creates a hurdle in your business not allowing it to grow. To alleviate this problem (so you can make money) You would have to do one of two things: 1. Pay someone to come in and do it OR 2. Take a class learning how to do it. Your decision making in your online business should be the same way!

Tip #3 The top 3 things to think about before you click the check out button on an investment

Here’s the scary part, actually clicking the checkout button! This gets less scary the more you do it BUT that thought in the back of your mind will probably always be there. “Is this the RIGHT thing to buy for my business right now? And there’s no easy answer to this, but here are 3 things to think about that may help you in your decision:

• Is the problem I’m trying to solve one thats been coming up for a while?
• Is it directly keeping me from making money?
• Have I asked the person I’m buying from some qualifying questions?

*Check out this post for the best questions to ask before investing in a course/program

If you’ve followed your gut, and have thought about the key things in this post then you should be prepared to know if what you’re about to invest in is right for you.

Click that checkout button!

Lastly, if this thing that you’re investing in doesn’t end up solving the problem you were after thats OK! Don’t hold any judgments on yourself about it. This is more than likely going to happen at least once in your businesses life time. Glean what you can from the experience and let the key takeaways from that lesson help inform your next decision. Remember, you ARE the right person for your business and you are doing exactly what you are meant to be doing.

The biggest question mark around your business could be what’s next. What actions to take, how to get visible to the right people, should I be sustaining where my business is right now or in a season of growth?

If you find you’re asking yourself these questions, download my free audio course HERE

Related Posts:

• Should You Buy The Course? : The Best Questions to ask the course creator before investing
• The Real Reason Your Business Isn’t Growing
• The Secret To Attracting Sales And Clients: Here’s What You Need To Know