3 Smart Business Investments You’re Probably Not Making

3 Smart Business Investments You’re Probably Not Making www.ladybossloot.com

“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.”
-Lee Kuan Yew

I get it. You’re a solopreneur.

You’re proud of the fact that you’ve bootstrapped your business from the ground up, tackling every task that comes your way. You built your first website, dove in and learned how to edit and upload videos to YouTube, figured out how to format your email newsletter, and even wrestled your shopping cart into submission.

But that feeling of pride that comes from doing the work yourself comes with a price. Too many small business owners are working too many hours, suffering from burnout and frustration—not because they’re not good at what they do, but simply because they’re unwilling to truly invest in their business.

They’re letting a scarcity mindset prevent them from taking the steps—and making the investments—that will have a massive impact on their business. And maybe you are, too.

Outsourcing

By far the biggest objection to outsourcing you’ll hear is “I can’t afford it.” Perhaps you’ve heard—or even said it. But the fact is, if you’re a serious business owner, you can’t afford not to outsource.

The time you free up by not doing those mundane, everyday tasks is time you’ll spend more profitably, by:

  • Creating new coaching programs.
  • Upping your content marketing game.
  • Recording video and audio content.
  • Connecting with your audience through email and blogging.
  • Working with clients either one on one or in a group setting.
  • Or just enjoying your life!

Outsourcing should never be looked at as an expense. In fact, if you’re not getting a return on your outsourcing investment, take a hard look at what you’re outsourcing and to whom, because there is likely plenty of room for improvement.

Automation

Most online business owners start out using low-cost tools with limited features. For example, you might be using PayPal exclusively for product sales, and manually adding buyers to your mailing list each time you receive a payment. While that’s an acceptable solution when time is easier to come by than money, you’ll quickly outgrow it. The problem is, too many entrepreneurs fail to recognize the benefits of true automation.

Not only is trying to “make do” with a pieced-together system costing you sales, but it costs actual dollars, too. You (or your VA) will spend extra time simply getting it all to work, rather than letting the tools do the heavy lifting.

Recognize when it’s time to up-level your marketing tools to include true funnel automation, and watch your income increase dramatically! Not to mention, automation lends to less human error – when that new order pops in, you are less likely to forget to add them to your customer email list or membership portal.

Coaching

It is possible to build your business solely on your own. You can pay attention to what others are doing and reverse engineer their systems. You can read books and blogs and maybe invest in a few carefully chosen training programs.

But there will come a time when your growth will flat line, and you’ll struggle to reach that next level. That’s when it’s time to invest in coaching. And yes, even coaches have (and need) coaches. A coach can help you see past your own blind spots, work through the blocks that are holding you back, and build a business you love—on your own terms.

Don’t be afraid to invest in your business. Wise investments such as coaching, automation, and outsourcing will pay for themselves many times over.