EPISODE 41 | Where to Invest Your Money to Grow Your Business
This is an episode I’m hoping you bookmark and come back to again and again because it’s full of information that I wish I had when I began my own business. The idea that you need to invest in your business even before you are making money seems to come as a surprise to many when they are looking at the online space. It’s true that your start-up costs are going to be way lower than say opening a brick and mortar clinic or retail store, but there are still costs associated and you need to be prepared.
The trick is to know which expenses you actually need to incur and which ones are more on the “nice to have” list and can wait until you are further along and in growth vs. start-up mode. Even most hobbies need a small start up fund – why should your business (online or brick and mortar) be any different?
In this episode I walk you through the investment items that I believe you need or should eventually have to effectively and efficiently run and grow your business. I’ve created a FREE Business Investment Guide that you can download as a reference and checklist as you build your business.
These lists are based upon the understanding that you already are running Discovery / Sales Call funnels and/or Webinar funnels – these two funnels are all you really need to have a thriving online business. If you want to learn more about these business models check out Episode 19 – The Health Expert Business Model.
I break down which platforms are necessary no matter what your revenue level and then the add-ons you should be considering as your business grows. I’ve also created a Free Business Investment Guide that you can download and keep as you build and grow your business. Check out the episode to hear why I think you need each item for your business and how to go about getting them.
The one investment item that I didn’t include on any of these lists, but I highly recommend at any level is hiring a business coach or joining a mastermind program. After you’ve completed all training for your particular field, gaining business knowledge is the next step in your professional education. You likely didn’t go to school for business or to learn how to become a CEO, so that’s the next education you need – not another health certificate. Hiring a business coach or mentor gives you the ability to jumpstart your business and gives you the tools & accountability to grow your business exponentially. Getting support, guidance, and mentorship gives you the advantage over others in the market and will jumpstart your growth as a business owner.
Listen to Episode 41 below:
Things I Mention In This Episode:
- Wellness Business Academy
- Download my FREE Business Investment Guide
- Business of Becoming Podcast – Episode 22 “The Simplest Way to Remove Money Blocks for Good”
- Business of Becoming Podcast – Episode 35 “The Dangers of Having a Broke Money Mindset”
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Let’s Keep The Conversation Going…
Tell me below, what is one thing you spent money on when you were first starting out that you’d change if you could go back and do it again? Or what did you NOT spend money on that you wish you’d invested in a lot sooner?
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