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We’ve heard it many times before that in order to continue to be successful in business and reach each new height in business “you must invest in yourself”! Or, we’ve all heard “you can’t expect for others to invest in you and what you have to offer if you don’t invest in yourself”. I wholeheartedly agree with these sentiments! In fact, I’ve seen what investing in myself can do for my business as well as for my own personal development. However, I’ve also seen where investing in the right program, service, or product at the wrong time can cause stress on my business finances as well as personal finances.
You might be wondering how that is possible. At times we as solopreneurs invest in this coaching program and that coaching program without really taking the time to assess if it’s right for us at that time. Or we fail to take the time to be absolutely sure that the business can support a particular level of investing. All the while depleting cash flow, because depending on what you’re investing in you’re not able to really implement what you’ve learned. Quite frankly this could be because the stage that you’re business is in at the moment cannot support or sustain that level of investing or implementation.
To combat this I usually tell clients to “invest where you are”. You’ve heard the saying “Bloom Where You’re Planted”. This is not to say that you shouldn’t stretch yourself or have faith that what you invest in today, (even when you can’t see where the money will come from to invest) will bring even more in the future. But, you have to be strategic in where, how, when, and how much you invest or spend the money in your business.
Here are a few questions to ask yourself which can help you to determine if you should invest in a certain program/service/product at a certain time:
Remember the key is investing where you are, but challenging yourself to move beyond what you’re doing now in your business and also being purposeful with your investing and spending.
I can help you plan for investing in high end coaching programs & products so that you’re able to take your business to the next level, but without the financial stress & frustration. Contact me for assistance.
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