There’s no way around it, growing a business costs money.
When I decided to scale from mid-six-figures to seven figures, I had to invest heavily in my business. I hired a designer, a copywriter, a full-time VA, a digital ad agency AND I joined a mastermind. It was a lot of money to spend (and yes, I definitely spent some nights lying awake freaking out), but compared with how much money I made from that investment ($700K and growing), it was a bargain.
I’m saying all this to remind you that I’m no stranger to investing in my business and it’s often one of my first recommendations to clients.
But that doesn’t mean it’s the only way to grow your business.
Here’s what I’ve been hearing lately from clients: “I want to grow but I don't have the money to invest in X.” Whether the client is talking about hiring a VA, running ads on Facebook, or paying for decent web design, the subtext is that when it comes to scaling their business, they are off the hook since they don’t have enough money to make it happen.
Ummm, no. Nope nope nope. Not buying it.
So the next time you’re looking at your website thinking there’s no way in hell you can meet your monthly revenue goal without a new site and there’s no way you can afford that…here’s a dose of Rachel to keep you on track:
- Be grateful you don’t have the money because you don’t know how to spend it…yet
When I first started my business, I made so many bad decisions. I wasted thousands of dollars on scammy marketing gurus, ineffective writers and designers, running ads to the wrong ideal client, partnering with the wrong people. You name it, I probably did it.
At the time, I was consumed with the thought that I didn't have enough money to grow my business to its fullest potential. But looking back, I'm grateful that I didn't have more money to invest in my business… Because I had no idea what to do with it. By the time I had enough money to fully invest and growth, I also had the knowledge to know how to spend that money effectively.
If you're feeling discouraged that you don't have the money to go all-in on your business, the truth is that this is probably a good thing: if you had the money, you’d waste it on the wrong shit because you’re too new at your business. Now, because you don’t have the money, you’re getting the chance to learn and hustle and try and fail so that by the time your business is making $$$, you’ll know exactly how to invest for maximum ROI.
- You will find the money to pay for what’s important.
The other day, someone posted something like this in the Hello Seven group:
Seriously, though! If you can find the money to get your hair done, or take your kids to the waterpark, or buy a birthday gift for that random acquaintance you only see twice a year, you can find the money to cover your business essentials.
Maybe you find that it’s just easier for you to spend on those kinds of things than to invest in your business (because you feel unworthy, or it scares you, or you doubt yourself, etc).
That’s mindset, baby! Not money.
- You don’t need money to grow your business. Money will just make it grow faster.
I’ve talked before about the decision I made to drastically scale my business. I was sitting on a plane with my husband and I had sketched out what I thought it would take to get to a million dollars annual revenue. I knew I could do it on my own…but realistically, it might take 3-4 years.
I realized that if I got expert help, even if I had to pay alot for it, I could double my revenue within 1 year. #nobrainer.
But if I hadn’t had the money to invest in that level of support, you can be damn sure that I’d have working just as hard and be just as focused on that seven figure goal.
Money might be the gasoline that makes you go fast, but your ambition and your focus need to be pushing down the gas pedal. And if you can’t afford gas, girl, GET OUT AND WALK!
PS: Whenever you’re ready, here are four ways my team and I can help you grow your business this year:
1. Join the Hello Seven Group and connect with women entrepreneurs who are scaling too. This is our new Facebook community where badass women learn to get more income, impact, and independence. Click Here
2. Attend our Hello Seven Incubator event [online]. Next month, I am running a full day, virtual workshop for advanced women entrepreneurs. I’ll show you what the back end of a seven-figure business looks like and teach you how to reverse engineer it for yourself. You’ll learn how to fix the gap between having $10k months and having $100k months. A third of the tickets are already gone. Would you like to attend the event? Sign Up Today