Episode # 40 - How Do You Choose What You Spend On In Your Business?
Deciding when and how to spend the money you make is one of the most important things you can spend energy on. In this week’s episode we are talking about the four things that could hold you back from spending money that would otherwise make your business work smarter, faster, and more effective. I talk about the danger of over-researching and about how all the things you’ll invest in for your business are relative. I don’t want to tell you what to buy or when. I want you to be clear on what you need and whether or not it’s worth it.
Quotes from this week:
- “How do you decide what to spend money on in your business?”
- “When I started my business I worked extra hard to not spend money and looking back maybe I spent too much time doing things that way.”
- “When your business is new you have to spend time thinking about what you really need to buy and not feel bad about spending that money.”
- “One big problem small business owners have when they look at the cost of things their businesses need is that they tell themselves ‘I don’t need that. I can just work harder.’ “
- “If your business is basically just you, you have to get over the idea that you’re not worth spending the money on.”
- “You have to invest in yourself. Not just your skills, but yourself as a business.”
- “Sooner or later you’re going to weigh spending an amount of money that’s scary. You have to remind yourself how threatening it could be to not spend that money as well.”