Entrepreneurship can be ridiculously exciting – winning your first clients, launching new programs, big paydays, and all those heart-singing, god-I-love-my-job breakthrough moments with clients.
But between those man-is-this-the-best-job-ever moments? There can be a lot of bloody hard work and tough decisions. Take, for example, figuring out which will be the best investments for your business. Where should you spend your precious cash to get the very best return on investment when it comes to growing your business?
After all, there’s a difference between the investments that we take in our business day to day that keep the machine rolling and the ones that will take us to the next level, and help us take a big step forward in our businesses.
Choosing your investments carefully is one of the smartest moves an entrepreneur can make. Knowing where to put your big spends for the most powerful ROI is a learned skill — and you, like me, may well have already made a few dodgy investments along the way.
In a recent survey, heaps of you asked: “Where’s the smartest place for me to invest my money back into my business?”
As always, I can only share from my own experience on this one. So here are 5 of the biggest investments I’ve ever made in my business to date. What happened next? Hint: These are the spends that have helped my business grow the most.
Pull up a super comfy chair, read on, and I’ll tell you all about it, my friend:
Big Investment #1: Private coaching
Whenever I have a coach, I make massive leaps in my business for two big reasons:
Reason 1: When it’s private coaching, there is nowhere to hide. It’s me and my coach focussing our combined attention on my business and me. Every week/fortnight/month, whatever the frequency of our sessions — I have to stop stuffing around, procrastinating and being consumed by self-doubt, and step into action.
Reason 2: Private coaching creates an environment of serious accountability. When my coach and I make a goal together or I commit to taking certain action by a certain time on a certain day, in a certain way with them, man will I move heaven and earth to be able to report back that I got it down. I find that kind of one to one accountability with a coach insanely motivating and powerful.
Big Investment #2: Energetic healing work
Kinesiologists (my fave), other intuitive healers, counsellors, and psychologists offer a similar kind of value: to help your inner world reflect your outer world.
Every time I’ve allowed myself to invest in energy work to help my inner world match the life I want to live? Everything flows so much more smoothly.
When I’m not aligned, I spend way too much time feeling anxious, small, and worried. All my old stories and inner shit come up and keep me stuck — making moving forward in my business much harder going.
Make no mistake, it’s not all crystals and chakras. Energy work can be hard, confronting, and crazy rewarding (especially when it accelerates my success, or pushes me toward creating an awesome vision)… and when I gel with the practitioner, it’s worth absolutely every penny.
Big Investment #3: Masterminds
For me, big leaps can happen in mastermind groups because of access to a number of like-minded people’s experiences/lessons/perspective/problem-solving/creativity etc. I think real talk and being able to share your struggles with people that “get it” can be powerful. The friendships and the cheerleading that can happen when you’ve got the right personalities in a mastermind group is utterly magical.
Masterminds can help you see what’s possible and help you dream a bigger dream, so to speak. For example, in one mastermind experience years ago, someone in the group reported making a hundred thousand dollars that month.
My mouth fell open. I was like, “You can make a hundred thousand dollars in a month?!?”
I had no idea anyone who wasn’t a corporation could make that much. I didn’t even know that could be a goal I could set for myself.
That’s why masterminds are so important: the connections, support, sharing, brainstorming, can all be incredible. I can personally link the biggest leaps I’ve had in my business directly with mastermind groups I’ve been in — so if you’ve never been a part of one, now might be the time to consider it.
Big Investment #4: Professional branding photo shoots
In terms of straight money, photo shoots aren’t the biggest ticket item. BUT when it comes to stretching my comfort zone, investing in a professional branded photo shoot used to be right up there. While I don’t always love photos of myself, these days I reckon photo shoots can yield an incredible return on investment, particularly when I do a shoot that is aligned with the next level I want my brand and business to go in.
I think the reason why photo shoots can be so powerful is because you are literally creating content that will help yourself and others (including potential clients) see you in a new light.
Big investment #5: High-end promotional video
Back when I first launched my first e-course, Packaging You, I spent about $7,000 on the sales pages video, which at the time felt like a massive amount. Boy did making the decision to make that investment stretch me – I agonised over it for weeks! In the end, I flew the production crew (along with all their kit) that I wanted to work with to my town because I wanted to capture my real life as much as possible, and we had a great day filming together. I still LOVE the final product and saw a very strong return on investment when I launched the program. (In fact, this is something I’ve seen over and over in my business!)
That experience taught me a lot about the power of video, and these days I wouldn’t hesitate to invest in video again.
Each of my biggest investments and the leaps I made in my business immediately following each one have something important in common: Before making the purchase, I had to mentally step into the version of myself that is happy to invest in my business/in me that way. Getting into the mindset of the person I need to be to spend money in that way is ALWAYS the first and most important step. The next important step is to actually take action and commit time and resources to the investments you KNOW will take you to the next level.
The right investments can push you and your business in the direction you want to go — sooner.
I’d love to know: What’s the BEST investment you’ve ever made in your business?
Let me know below, lady, I can’t wait to hear from you. Thanks for reading – I appreciate you!! I’d love you to please share this post with the other entrepreneurial women in your life. It might just make their day!