It is a challenge to run a business and grow a business when there is not a lot of profit to go around. It makes it easy to have excuses for the things that have to be done in your business but don’t feel like a priority. If you find yourself saying things like:
- I can’t go to that training
- I cannot afford to get coaching or mentoring support
- I don’t have the money to put pay for an ad
- That networking is too expensive
Then I want you to just take note of what the value and priority is for you and your business and put it through this test.
1. Does it Make You Money Right Now?
Not everything that you throw money at will make you money. When times are tough then you have to look at everything for if it will make you money right now.
When I started networking 9 years ago I did it to build credibility and to increase my business prowess. I knew in the long run it was going to create value and clients for my business but I also knew that this focus was not going to make me money right now.
The challenge with this is that you still “MUST” market your business in some way. Just because it costs you money, and you don’t have it, does not mean you cannot continue to connect with your potential clients.
2. Do You Have A Plan?
If you decide that paying for training or a magazine ad will have a return for your business then don’t just jump in and pay, make a plan.
- Decide how long it will take for you to make money back on your investment. Keep it short term.
- Decide what else you will need to ensure that you can manage the project (people support, time, additional resources, or more contacts, etc.).).
- Do the research to see the past success of what you are investing in. If you are an optometrist and having a direct connection to the oral surgeons will immediately get you more clients because 2-3 clients a month need this support, then start networking with the surgeons and advertise your connection for additional client attraction.
- What is your call-to-action? Be very clear in your plan as to what you expect to create with this investment and ensure you have a call-to-action for your potential clients to take advantage. You cannot make more money if you don’t invite more people to purchase from you.
3. Do You Have Time to Implement and Make the Changes?
Whether you are taking an industry upgrade course to stay certified, working with a business coach, investing in social media, or attending a new association monthly meeting, YOU and your time will be the payment. Are you going to have the time needed to really invest at a level that will create strong relationships and encourage people to purchase from you now?
Sometimes it’s not the money that stops business owners from doing what has to be done, it is often the time. Remember, if you are working on your client projects and you have no time to do the marketing required to grow your business, when you are finished with your client you will have no money. This is not the mindset of an entrepreneur. Step bravely into your entrepreneurship and look for the solutions that will continually help your business grow.