All you accountants out there, read no further or cover your ears for what I’ve got to say to my fellow business owners.
Every check, credit card transaction, or cash purchase you make for your business shouldn’t be viewed purely as an expense. I’m not talking accounting principles here, I’m talking mindset.
If you treat all spends the same, you will likely miss out on doing things that will have a far greater impact on your business growth. Some expenses are smart investments. If lumped in with printer cartridges and copier paper, you’re not giving them a fair shake.
My mentor is the one who opened my eyes to this many years ago. We talked a lot about what I needed to do to grow my business. I would immediately respond – “I can’t afford that!”
That’s when I learned about my huge blind spot. The decision was not whether I should spend the money on my business, but whether I should invest the money in my business.
That shed a whole new light on expenses. Investments were the workshops that gave me the knowledge I needed to stay competitive and growing; and, mastermind groups to get me out of my own head; and coworking. Yes, I worked from a coworking space before I started Suite Spotte because I got so much energy, ideas, and inspiration from other members. These were some of the investments I made to take advantage of the growth opportunities I was then prepared to create. And still do today to keep growing.
Sure, money was often tight. But somehow, I found a way. Whether it was by asking for a workshop fee as a Christmas or Mother’s Day gift from family instead of the fresh flowers or new sweater I usually got. I’ve also been known to sell off some “vintage” items that had been stored away. Or cooking for a month instead of picking up something quick and pricey a few days a week. Or even postponing an upgrade to the latest cool phone. Be creative! The money is there. If you really want your business to grow, you will find it.
The next time an opportunity comes your way that will help move your business forward. Step up and invest in YOU!
Find out more about what you should invest in for your business from the experts at the Rocka Million Weekend.
The clocks have sprung ahead, spring is imminent, and the hibernation season is over.
It’s time to get your swagger back!
Boost your image, energize your “net” worth, and nourish your mind and body. Approaching daily life with confidence, optimism, and self-love gives you the power you need to be and achieve what you most desire.
To help you put a spring back in your step, Suite Spotte Coworking and Waddell & Reed are hosting a free midday mindset makeover for all you women out there.
We’ll share ways to boost your self-esteem and align your mind and body… all while indulging in a bit of the bubbly and a few deliciously decadent treats.
RSVP today, space is limited!
As we get ready to kick off RUSH WEEK at Suite Spotte, fellow coworker Mike Bash of Silcon-Valley-based start up, Eversight, shares his decision to become a Suite Spotte member with Morgan Searles of Patch.com. Check out what Mike has to say here.
Thanks Mike and Morgan for helping to spread the word!
Free Rush Week Coworking Trial Sept. 21-25 at Suite Spotte, in partnership with the La Grange Business Association.
Don’t you just love it when seemingly idle chit chat turns into an enlightening conversation? It happened to me a couple of weeks ago. I had a chat with a group of clients about why some small business owners resist asking for help – particularly from a business coach.
The usual suspects — no time, no money, what do they know about my business — were brought up. And then Jen said, “All of those are really just excuses. The truth is to work with a coach I had to say out loud that I needed help. I had to give myself permission to be vulnerable, and that scared the hell out of me.”
With that one confession, the conversation broke open. Turns out there was a lot of initial fear of being exposed going around the table in the early days of their coaching experience. Fear of being found out. Fear that things were not going right; which meant, they were doing something wrong. Exposing a chink in the armor.
I get that. The first time I asked for help, I knew that I had to come clean. (Yes coaches need help too, and yes we hire coaches). I had to admit, especially to me first, that things weren’t getting better on their own, and I needed help. I had to get out of my head and explore a new perspective.
Once I fessed up and started to do something about it – whew! Things seemed to be so much better even before they actually improved. Lugging that armor around had worn me out.
This is not a pitch to hire a coach. It is a strong recommendation to seek help when you need it. Frankly we probably need it more than we are willing to admit. What if you were a bit more open, turned to a colleague and said, “Hey can I bounce something off of you?” Believe me, it can be a game-changer.
I’ve added solo to my list of four letter words.
Many of us proudly proclaim that we are solopreneurs. We boast about being the sole owner of our business, have no employees, and are doing it on our own. Whether we are financially making it or not is rarely disclosed. We’re out there anyway — the proud party-of-one.
But just how proud are we? Are we meeting the expectations we had for our business? Are we being honest with ourselves? Is it really possible to do it on your own?
If you are doing everything on your own to run your business, you are no doubt leaving money on the table. I’ve never met a business owner who had all the skills required to successfully run a business. Sure maybe you are getting by, but you’re not playing to your strengths, and that’s where real growth comes from.
You say you’re not a solopreneur because you have employees that work for you? If you draw on their strengths and allow them to do their jobs without jumping in and micromanaging them, then you’re right. Kudos to you!
But if you are constantly stepping in and telling them how to do their job your way, even though their way works (or may even be better), then you are still operating solo my friend.
I’ve ripped off the solopreneur badge, and I’m actively building collaborations with other business owners. Join me. Soaring collectively is superior to flying solo.
Interested in learning more about playing to your strengths and building collaborative relationships to make real money in your business? Check out my new book, Rocka Million, A Manifesto for the Gutsy Micropreneur. Available on Amazon in paperback or ebook. It would make a great holiday gift too ☺.