How can you invest in yourself or in your business without spending a fortune?
As a new business owner starting out over 5 years ago, this was a thought that often crossed my mind.
I was overwhelmed and confused by all the information. The tips from various experts, marketing gurus, and other business owners.
To be frank, I couldn’t care less about what was included in what they were selling. What I wanted were results. A clear ROI on the money I spent on the items I needed to get started as an entrepreneur:
But most of all I wanted to move the needle on my business. So that I could know for sure I wasn’t wasting my time on this.
I have always had an entrepreneurial spirit and a knack for seeing gaps in the market and coming up with potential ideas to fill that gap. But having this skill is not enough to guarantee business success. I needed to understand the nitty-gritty basics of marketing and business.
However, after leaving the corporate world and working from home, I was determined to succeed. I loved the freedom of working from home and being my own boss.
Over the course of 3 years, I experimented and tried to DIY every kind of online business imaginable. It started with the business I kinda fell into – social media background checks on potential employees for big local businesses. I soon realized I hated that and decided to start a blog as I’ve always loved writing. Little did I know that you can’t actually make money from a blog unless you monetize it in some way. Affiliate marketing evaded me as my traffic was low and I hadn’t yet started offering my writing services. Next, I tried (and failed) at Dropshipping. I built 3 different stores and they all sucked.
Why You Need to Invest in Yourself
After all this effort and failed attempts at building an online business, I realized I either need to take things seriously or get a ‘real job.’ I’m sure every entrepreneur or business owner has felt like that. But to me, it was a challenge. At that time I was starting to make a name for myself with my travel writing. Although I got plenty of sponsored travel perks, I wasn’t making much of an income. So, I started offering content marketing services as well and everything started changing.
You can learn more about my travel writing and content marketing writing services on my website, Our Soulful Travels.
A year after I started offering this service I was doing pretty well but it still wasn’t sustainable. I decided I was done playing small and that it was time to invest in myself. After working with my first high ticket client the month before (a once-off project) I was struggling to find more clients. I had about $100 left in my name when I found out about the Entrepreneur Bundle that cost $98.
Now, if you’re anything like me spending your last $100 on something that you’re not sure will pay off is a tough decision. Ultimately, I took the risk (after an internal struggle) on the last day of the sale. Best decision I ever made!
It is exactly a year since I purchased that bundle that included 30+ eCourses, eBooks, templates, and memberships and it transformed my business. I learned everything I could about building, running, and scaling a successful business and then applied it.
My income increased 10x and stayed consistent. I signed on long-term high ticket retainer clients and learned enough to create a whole new business.
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How to Invest in Your Business
As you can see investing in myself and my business was the key to reaching success. The more I invest the more I achieve. So, it’s an important (but scary) step as an entrepreneur.
So, you may be wondering how you can take that plunge…
There are a few simple ways to invest in yourself and your business:
Network & Build Relationships
Even as a solopreneur you can’t run a business all on your own. You need support from others. Improving your networking skills and cultivating business relationships is a great investment. This is one of the best ways to ensure that you never miss out on exciting opportunities or collaborations. Build relationships with inspiring people you follow online or meet with them IRL, if possible. The people you surround yourself with are who you become, so choose wisely. Choose people who stimulate your mind, make you think, and most of all, inspire you to level up.
Read Books or Listen to Podcasts
I love to read business and self-development books and it’s actually while reading that I got my vision for Biz & Content Alchemy. This is one of the best ways to gain knowledge and improve yourself. With this wisdom comes business growth and success. Don’t let the internet distract you from the magic and power of a good book. I have a Kindle Unlimited subscription that I absolutely love – it allows me to read 5 or 6 books every month! If you don’t like to read, listen to audiobooks. I use my Audible subscription when I don’t feel like reading – get 2 free books to listen to when you first sign up. That works too. However, podcasts are just as entertaining and informative – so you have plenty of options to learn!
Mindset Work & Self-Care
Nothing I have accomplished would have been possible with the right mindset. It’s the most important part of being a (successful) entrepreneur. Mindset is what takes you from just surviving to thriving as a business owner. Developing a positive mindset takes effort and you need to work on it. Every single day! If you want to bypass years of struggle as an entrepreneur then I encourage you to start a self-care routine today that not only includes wellness activities but mindset work too. Your business will have a better chance of succeeding if your mind and body are in optimal condition.
Online Education & Courses
This is by far my favorite way to invest in myself and my business. Since buying that bundle a year ago, I have become an eCourse junkie. There are courses on just about everything which makes it more exciting because you can get a practical experience-based education on any topic under the sun. As online business owners, this is especially useful.
Over the past year, I’ve invested in a bunch of courses but the bundles are still my favorite. You get a lot more value for a fraction of the price. You still may hold off because it feels too pricey and you’d rather wait until you make some money but that scarcity mindset won’t do you any good. Courses are a great way to help you get further in your business – if you do the work, of course!
One of my all-time favorite courses is this super affordable one that teaches you everything you need to know about succeeding on Pinterest! It’s easy to digest and you can quickly implement what you learn – I saw almost immediate results!
Invest in Your Biz Beyond the Basics
Now the ideas I shared above are a great first step. They are ideal for you if you’re just getting started. But once you take these steps, things will happen quickly. As you gain traction, I suggest that you keep the momentum going by investing more. This is the point where things get really fun. You can start investing in coaches or consultants to help you step up. Or, you can capitalize on your newfound success and scale your business by outsourcing work to freelancers, a VA, or hiring a new team member.
The idea is to outsource work that you don’t love or aren’t good at so that you can focus on your zone of genius and growing the business. If you don’t feel ready to hire a high-end coach or pay employees then start small by paying for services that allow you to automate and streamline your business. This was the first step I took before outsourcing. It made all the difference in my productivity. There are plenty of amazing digital services that are total game-changers for entrepreneurs.
Just a few of the digital services that run both my businesses and that I can’t live without are:
- Dubsado – a CRM (client relationship manager) designed by entrepreneurs which is full of powerful features to invoice clients, create workflows, capture leads, and much more. Dubsado is free for your first 3 clients but get 20% off your first month or year thereafter using this link.
- Mailerlite – is an email marketing service that allows me to send the most beautiful emails with an awesome open and click rate. Mailerlite is free for your first 1000 subscribers but you also get $20 towards a paid plan with this link.
- Missinglettr – a content re-purposing software that automatically creates re-purposing campaigns for new blog posts and schedules them to Facebook, LinkedIn, and Twitter. Missinglettr is free for the first 2 weeks and you can get 50% off any plan for 3 months with this link.
- Tailwind – the best way to schedule your Pinterest content to pin automatically at the best times, boost your traffic with Tribes, and make the most of seasonal trends with Smart Loop. Tailwind is free for your first 100 pins and you get an additional 1 month free with this link.
If you’re not ready to invest in anything just yet, no worries. There are plenty of free courses and trials that you can make use of. Sign up for my FREE Biz Alchemy Secrets course today and let me share my secrets with you…
How will you invest in yourself this year?
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