Is Spending Money on Your Biz Worth It?

Business

It wasn’t that long ago that I was getting texts from my bank saying, “Hey Christina, how’s that yoga business workin’ out for ya? Did you know your account’s looking a bit dusty? It could use some serious love.” (So, naturally, I spent what I had left to hop on a plane and attend the Illume Retreat with a dream and a wish and a lot of self-doubt.)

Even though I’ve experienced FIRST HAND that investing can change the course of your career, it’s still REALLY hard to do. I mean, it’s so counterintuitive, right? Work your tail off for some profit… then spend it on a bunch of expenses that will reduce your profit?!

The thing about money is that once you take away the icky feelings attached to it, you start to realize that money is a tool… a really versatile and useful one that can help you grow your creative business in exponential ways. I still cringe when I pay someone else to do something that I can do, but I’ve been building my team over the last few months and it has done amazing things for both my biz + personal life!

If you have a hard time spending, here’s a few reasons why investing in your business really pays off:

1. You’ll build street cred.

If you’re not investing in yourself, can you honestly expect someone else to? Clients need to trust you before they’ll hand over their money. (And they aren’t going to do that if it looks like you pieced together your business card with duct tape… they’ll just wonder about where else you’ve cut corners in your business.)

If you want to increase your pricing or bring in more consistent, quality clients, ditch that Gmail address and “Hosted by Wix” website. You need to show your potential leads that you believe in yourself, that your business isn’t a side hobby, and that you take it (and them) seriously.

I’m not saying you need a completely custom, designer website but buying a domain name (which is, what, $12 a year?) and using a great WordPress or Squarespace theme — or at least paying to remove the ads on those other website builders — will go a LONG way toward establishing your credibility as a professional.

2. You’ll be way more productive.

If you had an extra hour every day, what would you do with it? Hit the gym for some much needed endorphins to stimulate your creative mind? Finally get around to developing those products and services that have been swimming in your head for months?

I know it sounds a little crazy to say that spending less time + more money on your biz will pay off for you, but think about it: When you’re busy doing EVERYTHING by yourself, you have no time to be productive. Strategy goes by the wayside. And while you’re pulling all-nighters and working weekends, you’re slowly killing your creativity and passion for your craft.

Making small investments toward automation — hello, Schedugram! — or outsourcing will give you the time and space you need to create more value for your clients which ultimately makes you more money. 

3. You’ll grow. 

Investments in your business don’t have to be tangible. As an entrepreneur, YOU are the hub behind it all, and when you grow, so does your business. Read books, attend workshops, and purchase training to push yourself further. When you expand your knowledge, broaden your horizons, and connect with new people, you open your world to new possibilities.

OH, AND ONE LAST THING…

Before you purchase anything for your business, be sure you’re making an investment and not just spending your money. Is it a NEED or a WANT? Does this investment fit into your business goals? Does it make sense for where you are right now AND where you’re going? 

Buying LeadPages at the end of a webinar is smart if you’ve already got a boatload of opt-ins and sales funnels planned + ready to go. But if you haven’t even brainstormed your content yet … you could be looking at the business owner’s version of the Shake Weight. Be sure that you’re making smart investments in your creative business by always asking yourself: where do I see myself in a year, and will this get me there?

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