My Best Business Investments


Hello, hello!
It’s Denise here from LuckyBitch.com. Today, I’m talking about what have been some
of the best investments in my business. This is a question I get asked all of the
time, so I’m happy to share. Let’s do it! Obviously, a bit of a disclaimer here.
What I spend my money on in my business, I’m not recommending you spend
money on in your business necessarily. I just want to share because
I know a lot of people ask me. I would love to hear from you
in the comments as well. As you read this, what have
been your best investments? The other thing I want to say is that I don’t think
there is one answer for every stage of business. I think the best investments you can
make in your business change over time. You’ve got to invest at where is appropriate
for you in business right now. I remember seeing this very, very
recently in one of our business forums. Someone said, “Should I spend $15,000 to spend
a day with this high-level entrepreneur?” The answer totally depends on
where you’re at in your business. She was quite new in business, she didn’t
have a really good sense of who she was serving or the products and services or
anything like that. I don’t think there are any wrong investments or too expensive
investments, but sometimes there are more appropriate things you can spend your
money on at different times in your business. For me, I am actually going to spend
money like that to go spend a day or two with a high-level entrepreneur.
For me, that is totally worth it because I have a lot of those things in place and
so the return on investment is going to be much easier for me.
That’s just my little disclaimer at the start. I wanted to share different stages of my business
and what were great investments for me. At the very, very early stages of my
business, I was like anyone else and a bit clueless, serving everyone and not having
a really good understanding of what I was going. But that was cool.
What were my best investments? I think my three best investments might
surprise you. The first one’s really obvious. That was working with a business coach.
This was hugely invaluable to me at the start of my business, especially because
I really suffered with procrastination because I was scared all of
the time in my business. Everything felt really scary, from doing
my first workshop to having discovery calls with clients to having to have
boundary conversations with clients. All of that stuff was really scary to me
and I needed a lot of support to actually take action in my business, but also
hear from someone who was more experienced than me who could tell
me what to do — because I didn’t know. Now, what you spend on a business
coach is completely up to you. I would say at the start of your business,
go for someone who is a little bit ahead of you in business, but you don’t
necessarily need to work with a big guru coach who is really, really expensive. They might not be the best coach for
you right now. They might have a really long term view of where you can go
in your business, but they might not remember what it was like at the start. It’s totally okay to work with someone who
is affordable for where you’re at right now. You don’t have to always stretch to
huge heights just because you think it would be good for you from a manifesting
point of view. No, not at all. You just need someone who can help
you take action, who can help you figure out what to do and troubleshoot
as you go. For me, that was a genius investment because I needed to get
into action and make some money. Now, my next investment might
surprise you because you might think it’s got nothing to do with
business. But that’s not true. My really good investment at the start of
my business was hiring a cleaner for my house. Because my house was always
really messy and I would spend every weekend fighting with my hubby about
who was going to clean the bathroom. I didn’t want to do it.
I was crap at it and he was bad at it. The thing is, even at the start of your
business when you’re not earning a lot of money, I think something like hiring a
cleaner is a really quite inexpensive way to declutter some of that crap in your life and create a nice environment for you. But it’s also very highly symbolic as well
because it means that you go into your business with that mindset of it’s too
expensive for me to clean my own house. I need to focus on income-producing activities. If you’re doing things like cleaning your
own toilet, no one is paying you for that. No one is paying you for that. You need
to be out there getting your first client. You need to be there making money.
You might think, “I’m not making any money, so I should do the cleaning
and the money making stuff.” I don’t agree with that. I think it’s very,
very simple, but I also think it will take some clutter off your plate and
help you really focus that time. This is especially important if you work from
home, which I do. Your home is your workspace. You shouldn’t be procrastinating during
the day cleaning your own toilet. If your partner is saying, “Well, you’re at home
all day. You can do the laundry now.” No. That’s not how it works.
Mark tried to do that — my hubby. He’d go, “Oh, can you go pick up my dry cleaning?
Can you go to the post office for me? Can you just throw in some laundry?”
I’d be like, “I’m at work. Sorry. I’m at work, just like you are. Why can’t
you clean the toilet? Oh, that’s right. You’re in an office. Guess what.
So am I.” Hiring a cleaner is hugely important and if you haven’t done it yet, get to it. The third investment, which was brilliant
for my business and actually didn’t cost me a lot at the start, was getting great photos.
Now, you might not have a Swish website. You might not have great branding.
I didn’t even have a logo — a proper logo — for like the first four years of my business. But I always had pretty good photos.
That can make sure a difference to how people perceive you and your brand.
I mean, I don’t wake up like this. Right? I don’t work on the beach on my laptop
with my surfboard next to me with perfect hair. I don’t drive around
town in a beautiful blue ComVee. Great photos can really elevate your
brand. The first year of business, I actually did a bartering arrangement —
which I don’t recommend you do — but then I worked with her again
and she was very affordable. I got some great photos. I went and got
my hair done, I did my own makeup, and we went down to the beach. Just having
that made my brand feel a bit more pro. You can upgrade those as you go.
You can upgrade them every single year. You can upgrade them twice a year as
you become more successful in business. But I think it is such a great investment
to make at the start of your business. There are the three things: house cleaner, great
photos and a coach. A coach or a mentor. Now let’s talk about when you start to make
a little bit more money in your business. This is me. I started to have some regular clients,
I started to actual make some money. What did I invest in that made huge
differences in my business? The first thing that I invested in was a
bookkeeper. I was so scared about investing in a bookkeeper. I looked at the
money that it was going to cost me every single month — which is great because a
lot of bookkeepers make you pay monthly, which is a great business model for them. But I was just thinking, how am I
ever going to make that money back? I realized that, one, doing my
own books was stressing me out. Two, no one was paying me for it and, three,
it was mental clutter that I did not need. Then, let’s look at the symbolic stuff of it.
If you think you’re never going to make the money back from hiring a
bookkeeper, it just shows the universe that you don’t have a lot of faith that you
are going to make more money in your business. When I upgraded and invested into a bookkeeper,
I suddenly felt like I had a real business. Having someone see my financials every
month was really motivating, actually. My first bookkeeper, I remember she
was with me from earning not very much money to when I first hit six
figures. She cheerleaded me through that process, but I actually felt
like I was in a real business. Because I suddenly had those overhead
expenses, it motivated me to have a new income comfort level each month.
I was like, “I have to hit that to make money.” It did inspire me to
increase my income. That’s something I really recommend if you
have started to make some money. Do it. The next thing I invested in was an
assistant. I totally screwed up many times and I’ve written about how to hire a first
assistant. You can go read that as well. I screwed up many, many times.
But, again, I felt like I was in business. I started to outsource some of those
tasks that I wasn’t good at or things that stressed me out. That really, really helped,
if you’ve been procrastinating on that as well. I remember my friend, James Wedmore,
he said to me pretty much at the start of my business, he goes, “You can’t get to
six figures doing everything yourself.” I was like, “Oh, crap. Maybe I can be the
first one to have a really successful business doing everything myself.” He
was like, “No. That’s not going to happen.” happen.” You know when it’s time for you to hire an
assistant to get some of those things off your plate. The third thing that I invested in
at that stage was a mastermind. This was someone’s program where I
joined a mastermind group of people at a similar level in business to me. This, I think,
was really key because suddenly I had peers. I had people who understood where I
was in business, could give me advice — specific advice — to my situation and it was
just that next level of being in free groups. It was curated. I was someone had
created a safe space for us and it really pushed me to go to that next level.
You can start your own mastermind for sure or you could buy into somebody
else’s community — for example, my Lucky Bitch Money Boot Camp
comes with an amazing community. You might join a small business group
for people who want to go to six figures or who want to go from six to seven
figures. I think it is really good to find a specific one. For me, joining one with
people who are at my level of business was hugely, hugely valuable. Now, what about the next step? When your
income is soaring, what do you invest in then? Again, my top three investments,
they’re not that unusual, actually. One thing that really helped me, I think, to
go to the next level was hiring brand experts to take my photos that were good at the
time to take everything to the next level. That, for me, meant investing in a logo,
investing in look and feel, hiring a set designer to come and design our sets
and just a really pro kind of thing. Now, you might think, “Maybe I need
to do that now in my business.” At the start of my business — and the
start of your business — you just need to focus on getting experience
and getting clients. You don’t need the slickest, protest
brand out there. For a lot of entrepreneurs, I think doing
that is procrastination. Right? You’re like, “Wow. Once I have the perfect
hex color for my website, then the clients will come flocking in.” No, it doesn’t work like
that. You can upgrade that stuff as you go. But, if you’re at the level now where your
income is starting to grow a lot more, maybe it is time to invest in your image and
your brand and take that to the next level. I know, for me, when I changed my
website and I upgraded my Lucky Bitch Money Boot Camp, suddenly it felt
like I was just at that next level of pro. That can attract the next level of clients
you need to go to that next level of income. That was hugely valuable for me. The next one was outsourcing more tech
stuff. That meant website, getting people to help me with my InfusionSoft, getting
people to help me with my Google Analytics all that stuff that I was really bad at that I
needed experts to come in and help me. I guess the third one, which is exactly the
same but it is about hiring people who work in their zone of genius to help me.
If I had a particular problem — for example, I wanted to know how
much I should charge for speaking. I found some speaking experts to have a
few sessions with me so that they could give me their information and I didn’t
have to go and search for that myself or I didn’t have to go through trial and error. I think that’s a really important part at this
stage in business when you are soaring with your income. You don’t want to
screw around trying to find people who aren’t working in their zone of genius. You want their answers, you’re prepared
to pay for them quickly with either VIP days or one-on-one sessions. You might
not want to do a DIY course anymore, you don’t want to go through a six week
course to learn something, you just want to find out who the expert is, tell me the top-line things — better yet, do it for me and we can move on. Obviously, your time is
worth more than it used to be at that stage. Hopefully that helps. I want to hear from
you in the comments. What level of business are you in right now and what
has been your best investment so far? This is all really important information to
share with the Lucky B community, but also that whole thing about investing
where it is appropriate for you right now. That will help you get to that next level.
Then worry about that level investment you need to make. Don’t jump ahead
and stress about things that you don’t need yet or that are just not
appropriate to you right now. I’d love to hear the discussion in the comments.
If you don’t know me, come over to LuckyBitch.com. I’ve got lots of great resources for you. My last thing to say is, as always, it’s your
time and you’re ready for the next step.

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