- 1 Smart Investment Steps You Can Take Right Now
- 2 Bold Investments that Grow Your Business
- 3 How Do You Measure Your ROI?
Smart Investment Steps You Can Take Right Now
You may be ready to start investing in your business website. I read a great book years ago, and it taught me to save 10% of all my earnings. Over the years I have invested 10% of my earnings back into my business and it has grown exponentially.
Perhaps you’ve gotten over a few financial blocks and now feel ready to invest money into your business and website, to make it really grow. Begin by making small purchases to start, and to better your branding.
Here are a few ideas to get you started:
Find Fresh Content
If you struggle with keeping your blog fresh with new and interesting content, or don’t know what to say in your emails or newsletter, consider joining a content membership. These memberships provide you with monthly content in exchange for a small fee.
The important thing is to choose a membership that has content you’ll actually use. If you join a membership for health content and your business is on health, great! Then the content is relevant. If it’s on fitness, find one exclusively on fitness etc.
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Better Your Skills
Maybe you struggle to master the software that would make your business so much easier to run. If you look for tutorials to learn, you are investing in your own skills. If it’s not important for you to know how to master it, then hire someone who knows how. This is a better financial decision, if your time is worth more.
Update Your Website If Necessary
When you first started online, perhaps you opted for a free WordPress theme or cheap design. However, now it is beginning to show and you want to be seen as an authority, not a freebie seeker.
Plus, your website visitors are using your landing page now and you want your visitors to sign up for your opt-in gift. You want a mobile responsive website design that doesn’t rely on using a plugin!
You can have a web designer create a new design for you, or purchase a new WordPress theme and do it yourself. You’ll feel more confident and professional with a professional design.
Buy Premium WordPress Plugins
Most WordPress plugins are free and easy to use. However, there are some premium plugins worth investing in. Many plugin creators release free versions of their plugins, which allows you to try before you buy. If you like what you see, don’t be afraid to upgrade to the premium option.
Bold Investments that Grow Your Business
So what’s next. Perhaps you’ve done all the above. Now, you’ve come to realize that getting some coaching can boost your efforts and speed up your momentum, or maybe there’s a time-sensitive offer on a product or service you’ve always wanted.
You know you have to make a decision but you’re terrified you’ll make the wrong one. I’ve always told my children, make a list of “for’s and against’s”. Therefore, I say to you, find a quiet space and write down the “for’s and against’s” and ask yourself these three questions:
1. Can I Afford It?
It’s good to stretch financially from time to time. It helps you test your limits and can give you the confidence to take other risks. However, there are some expenses you should never risk, such as your rent or mortgage. You may want to invest in your business, but don’t take risks on your home.
If you really want this opportunity but don’t have the cash, come up with a plan. Look at how you could generate the extra income quickly. You could do this by running a sale, taking on a new client, or pre-selling a product to your mailing list.
2. Am I Ready?
Before you sign up for this new opportunity, consider if it’s right for you. If you’re just starting your online business then attending a conference that’s geared toward advanced marketers may discourage or confuse you.
Like nature, your business goes through seasons. You might be in a season where you’re hustling to launch a new membership site. If that’s the case, then it may not be the wisest move to invest in your offer. You won’t be able to give your full focus and you’ll feel stressed out that you’re not.
There’s nothing worse than paying for something at the wrong time! It only causes anguish and frustration!
3. Can I Make the Time?
You’ll pay for your investment in two ways – money and time. That’s why it’s important you consider how much time you’ll need to invest in this new opportunity before you decide to go ahead.
Joining a mastermind group might sound perfect, and you may be able to afford it financially, but how much time will you have to commit to it? If there are long meetings several times a week, will you be able to show up? Will there be homework assignments to complete?
If you’re willing, you can make the time to do almost anything. Setup a time management planner and see what a typical week looks like for you. Ask yourself what you’ll have to give up or move around in order to fully commit.
How Do You Measure Your ROI?
It’s not enough to simply make an investment in your website or business and hope it turns out well. You need to analyze that investment and make sure you’re getting the most out of it, and evaluating a coaching service or conference can be challenging.
- How do you know if you got your money’s worth?
- Did this opportunity really help you grow?
- Are you happy with the outcome?
If you’re asking these questions, here are four quick ways to measure the return on your latest investment.
Did You Better Your Skills?
So you decided to learn the software you wanted to use in your business and you have succeeded. Learning your new skills has added value to your business and has helped you save a ton of time. The more time you save, the more time you can spend working on income-building activities. You’ve also saved money by not hiring someone else. This was a good return on your investment.
Did The Opportunity Help Make New Connections?
Sometimes, investing in your business leads you to new contacts. Those contacts develop into business relationships. A connection you made at a conference or in a Facebook group, may become your best affiliate! That’s a win-win! It’s a great feeling when you make an authentic connection as the result of your investment!
Did Your Coach Improve Your Outcome?
Did you hire a coach and has your desired outcome been achieved? If so, then it was worth it! Perhaps you are totally focused now and moving full-steam ahead. Maybe you decided to hire a specialist in Facebook advertising for your upcoming launch, and now your income is increasing while you’re spending more time on new projects!
If You’re Not Seeing a Return
If you’re not getting a return, it’s time to make change. Don’t just give up if you’re not seeing results. Instead, look for a different way to invest in your business. Maybe what you really need is a mastermind group so you have more accountability. Perhaps you could benefit more from a specialized consultant instead of a coach.
Business investments can be fun and profitable, but remember to step back and evaluate your results. Take a hard look at what you got out of your investment and what you’d do differently next time around.
“The definition of insanity is doing the same thing over and over again, and expecting a different result.” – Einstein
If you would like me to help you grow your business with coaching or any tasks that are holding you, please contact me so you can start moving forward!