Loves! Welcome to week 3 of this month’s series “The Entrepreneur’s Guide to Investing”!
This week I am diving into the “how” of investing. How can you invest in your business? I’m really excited to dive into this topic and question because I believe that this is what keeps entrepreneurs STUCK for a long time and what tends to hold them back from investing.
What I often tend to hear when it comes to investing is “I don’t have the money” or “I’ll wait until I get clients” or “I’ll wait until I make money” or “I’ll wait until I have more money”.
Here’s the thing, NONE of those things are going to happen. Not if you keep doing things the way you’ve been doing them.
If you knew how to make more money and how to get clients you would have done it by now. That’s the reality. If you felt a tug to get support to grow your business it’s for a reason. And what tends to happen when you feel that tug is that you take a step towards it and then all of your fears begin to rise up.
This is where you get to make a decision. Are you going to face your fears and defeat them, or shrink back and stay put?
It’s the staying put that gets people in trouble. It’s what keeps both you and your business stuck. It’s the people who face their fears and move forward with the investment that see the results.
Here’s some real talk: I STILL get scared every time I’m going to make an investment. And I have invested upwards of $30k into my business.
$30k! That’s a lot of money! No I didn’t just have $30k sitting around to invest. I still don’t! And I didn’t do it all at once.
But here’s the thing, that $30k has turned into 6-figures in one year, $80k in a new business the next year, and it’s still growing.
Is a $30k investment worth it if it’s going to turn into 6-figures and then $80k? ABSOLUTELY!
Do you want to know how much money I had to invest when I made the first part of that $30k investment? ZERO DOLLARS.
Seriously. I had just quit my corporate job and had no money coming in. But I decided to make an $800 investment in working with a coach because I was tired of trying to figure out how to make it work. That $800 turned into $3k months and then $6k months.
Worth it? Heck yes!
Terrifying to invest in BEFORE I had the money? Heck yes!
So how did I do? The way I still do it now because like I said, I don’t just have thousands of dollars sitting around to invest into my business (most other entrepreneurs don’t either) but I still do because I know the power of investing.
Here’s how it goes:
Here’s the reality. I know what my priorities are. That includes building my business. I know that if I invest in and build my business now it’s going to set me up for the life I want to live. I’m thinking long-term and that is the priority that will get me there long-term.
I know that investments are the fastest way for me to grow so I make them. But I don’t just make any investment and think it will do it. I analyze the right investment I need to make to help me take that next step. That’s the key to making wise investments, knowing the NEXT STEP. Some people want to start a brand new business and think that investing in a million dollar business owners course on how to build a million dollar business will give them overnight success and then they are crushed when it doesn’t. You have to be willing to build and take each step, that’s how you build something solid! In order to get to 4-figures you need to make a couple hundred. In order to make 6-figures you need to make four. In order to hit a million you need to make a couple 6-figures. Know what the next step is and invest in that.
I was hesitant to use the word sacrifice here but I think it’s the best way to say it. You HAVE to be willing to give in order to get. I personally don’t feel comfortable telling you what to do to get the money. But I do feel comfortable telling you to get it! Figure out how to make it work! Make it happen! That’s the attitude of an entrepreneur. Being a problem solver and knowing how to create things. Like I said, I don’t feel comfortable telling you how to get the money but I do want to share some of the sacrifices I have made to get it in case it sparks inspiration for you: work a side job to make money to invest (I did babysitting), use money from savings (I actually invested all of my savings into a program) and used the money I made in my business even though it was all I had. I haven’t actually done this one but another idea I had if I needed to was to sell something I no longer wanted or needed.
Even though I still get scared when I make investments I now know that it’s normal and therefore I don’t let it stop me. It’s a part of the process but the choice is ultimately still mine and yours. Don’t let your fears stop you from doing what you need to do in order to obtain your success.
Your dream life and business are waiting on that investment. Go make it!