Have I told you lately how grateful I am for you, reader friends? Whether you connect to us by checking in on my blog or reading the newsletter, you inspire me. You are here because you want to be a better version of yourself, and you are exactly my people. I’m always grateful for your comments and the chance to go alongside you as you build that business and sense of self-worth.
That’s why I really take it to heart that I’m giving you straight talk on what will help you move the needle with your success.
I recently came across this amazing podcast by Stacey Boehman1 about building your business and not getting overwhelmed at the work it involves. She hit on so many great points that I had already been tossing around in my head that I was inspired to share some of her takeaways.
It’s always exciting when you start something new. To launch your business, you take a class or work with a personal coach—sometimes both. You put up your website. And that feeling when you start to see it come to life?
No. Better. Feeling. It’s confirmation that all the tears you went through, all the shit you took from the naysayers, all the sleepless nights wondering if you had lost your mind. Vindicated.
That first sale or client success makes you do a little dance around the room. Maybe your win was finally getting up the courage to nail snag a promotion at work, and you smile more when you get up in the mornings.
And for a while, you just grow into what you are doing. You sign another client or sell some more products. Maybe someone refers a new customer or gives you a glowing testimonial and you feel that high again.
You start to get busy with the day-to-day routine of meeting with clients, and the new wears off a little. You find your new normal.
The temptation to rest here starts to set in. Your confidence is stronger than when you first started. Your hunger is waning a little bit.
This is where I see clients come in and ask, “do I really have to take another course to grow my business?” Or “Is another certification worth it?” You start to resent the costs you are putting into your business now that it’s sprouted some baby wings. It seems like the momentum should be able to sustain itself for a while. Time to watch money come in before putting in more effort.
And even though you have clients, you aren’t seeing big profits yet. The idea of spending that money on your business seems counter-intuitive. You already paid a bunch of start up costs to get things off the ground. Shouldn’t that be enough?
This is where Stacey lays out some hard truth, and she is on the money.
Instead of lingering on the cost and the effort and whether it’s worth it, maybe you should be asking yourself this:
Why wouldn’t you want to invest money in yourself and your business?
Let’s think of this from a mindset standpoint, because mindset has the power to control everything that happens in your business and your life.
If you are hesitant to put resources into your new livelihood, what does that say about your commitment to and confidence in your business? And how will this mindset affect the clients you attract?
The truth is, to get to this point you have put a lot of energy and money in. If you want continued growth, both personally and for the success of your new gig, you can’t stop now. You need to get serious about being all in.
Side note, there are so many great things you can invest in to promote your business. Check out this article from ,,Entrepreneur.
Mindset is like a carousel we’re all riding on, and when you stop feeding it quarters, your passengers are going to feel it. They are going to be sceptical when you are telling them to boldly support their own goals when they can feel you pulling back on your own.
My Start as an Entrepreneur
When I decided to open Massage Strong, I was stepping way out of my comfort zone. I knew I had to invest in equipment, a long-term lease, and staff with money that wasn’t mine. I had started working with a life coach with money I didn’t have to spend. I was terrified.
But without putting one foot in front of the other and trusting that I could make the things I talked about a reality, I could never have grown the business into the success it is today.
Later, when I decided to branch out into a coaching business, I was faced with hesitation again. I already had a successful massage business. Did I really need another business? Wasn’t I already working hard enough?
But I knew it was the right next step. The “how” questions were squashed by the “why wouldn’t I do this?” I knew coaching was a labor of love and something I had to do, because I was the only one who had lived my success story. It was my duty to help others live out theirs by sharing how far I had come on less. Years of mindset told me to listen to what could be instead of the “safe” option.
Lack or Entitlement
When you’re holding back, your head is either in a place of entitlement or lack. Entitlement says, I’ve already done enough, and I shouldn’t have to work as hard as the average Joe. I expect huge profits out of what I’ve already put in. I’m going to stretch it as far as I can because I already have the winning formula.
Not only will this mindset totally backpedal on your personal growth, but it’s so unfair to your clients. To maintain momentum, you need to continually push yourself, keep stretching what feels comfortable. You can only perpetuate that growth mindset through growth.
Lack, on the other hand, means you don’t have confidence that an investment will pay off or be worth your time. You’ve stopped believing your business will benefit from what you put in. What if it doesn’t? Look at all that money you might blow? Now you are skeptical of the path you are on, and this is a quick way to alienate your clientele.
Especially if you are a coach, both of these mindsets are damaging, and your clients will sense your reservations about spending. You will attract people who share your concerns, and there begins the cycle of working with people who also don’t want to spend money. You are afraid to spend, your clients are wary about your advice to devote resources to their own advancement. And they sure as hell aren’t feeling warm and fuzzy about spending money on you.
Creating a Bulletproof Business
Your spending affects how seriously you take your business too. Aside from the outward sign that you are committed and excited about what is to come, continued leaps of faith and the confidence that builds on those successes are the path to advancement. When you pull back, you are giving yourself an out.
If you are muttering that coaching is overpriced, or you don’t really need another certification to reach that next level, your attitude is going to undermine the effectiveness of your business. You’re telling yourself it’s not worth it. It’s not real. You’ve got this all figured out. It’s too expensive to continue with the proven formula, and you’re breaking bad.
Rachel Marshall of the Money Advantage2 agrees that investing in your business is not risky. What other investment can you possibly make where you have an intimate level of control and knowledge? You are a key force in the success of your business, which is so much more empowering than being an investor in someone else’s.
Outsiders trust you more. They can tell your level of commitment and energy when you are putting up your money to move the mark.
Investing Mindfully in your Business
Even if you are making investments in your business, you want to make sure you are targeting your goals. If you are just plowing all your profits back into your company without a strategic plan for how this will enhance your next steps, you’re missing the point. Sometimes throwing money at your business is a way to cover up problems with profit. You need a business plan to target your resources where they can make the most impact.
Likewise, if you invest in classes and certifications and don’t devote time to them, you are wasting money. Paying to play does not guarantee results. You have to do the work. This is another facet of entitlement. The magic bullet to help you take off is your sweat equity. You don’t get credit for dollars spent alone.
Maybe you are slow to invest and you try to eek out every bit of benefit from your investments, to the point that you wait until things are declining before you will infuse more money into your trade. Whatever the reason, starving your business will not lead to steady growth. When you are trying not to spend money, you will attract people who don’t want to spend money. Who nickel and dime you and complain about the cost of your packages. Your business will lose momentum, which continues the cycle where you question if it’s worth it.
Money has power over us and we can use it to motivate ourselves or fear losing it so much that we’re scared to inaction.
When I was starting out, it was scary to spend money I didn’t have to shoot for bigger and better. But without that risk and potential reward, I couldn’t have made it to where I am today.
The rewards of investing in your dream always outweigh the risks. There is no shortcut to a better business. Many won’t attempt it because the perceived risk is so high, so unthinkable. But that’s where you and I know better. The scary barrier that keeps everyone else hanging onto “good enough” is your space to outshine and excel.