Are you afraid to invest in your business? Does the thought of spending money on your business scare you? Well, you’re not alone. It’s a common fear among many entrepreneurs, especially those just starting. But here’s the thing, investing in your business is one of the key levers you can pull to increase your success. It helps you learn more, grow more, and shortcut more.
In this blog post, I discuss the three significant investments I made in my first three years of business and the ROI (return on investment) I received. I’m doing this post because I know how scary investing in yourself and your business can be, and I want to help you overcome that fear.
My first investment in my styling career was a one-day course that cost $280. At the time, it seemed like the most money ever in my bank account, and I was scared to spend it. But do you know what my ROI was? I later became the CEO and co-owner of that company. Not only that, but I also launched my career, which turned out pretty darn well. A $280 investment that scared me later turned into co-owning a company, being the co-founder and CEO, and making millions of dollars. I’m thrilled I spent that $280.
The second investment was $1,500 for me to join a mastermind for entrepreneurs. At this point in my business, I was struggling because my friends didn’t get me, and I didn’t have any other friends who were entrepreneurs. Joining this mastermind was a game-changer for me. I met my first business mentor, who brought in $25 million a year in his business. After two and a half years in this incubator program, my company hit the million-dollar mark, and I was in The Million Dollar Club for seven years. I was even the president for two years. A $1,500 investment paid off.
My third investment was $5,000 for one day of business coaching. One of the mentors that I met from my previous investment said that my confidence was super low when it came to business and that I needed to work on my mindset. He suggested a coach, and I talked to her. I’ll never forget the phone conversation. I was crying because she had just got it. She got all my problems and said, “Here’s how I can solve them.” My ROI on that investment was priceless. My confidence grew, and I was able to take my business to the next level.
The point is, investing in yourself and your business can be scary, but it’s necessary. Finding the courage to make those investments and start seeing that they pay off would be best. Once you get over that hump, it becomes easier to make investments, and you begin to see a greater return on investment. So, don’t be afraid to invest in yourself and your business. It’s the key to your success.