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Small Business Owner #1 Dilemma:
Where Should I Invest My Time and Money?
Many of the clients I end up working with come to me saying, “Holly, I’ve spent thousands in marketing dollars. I’ve been burnt so many times. Nothing has worked. I don’t get where I went wrong. I have no idea what I should do next to grow my business. Help me. I’m at the end of my rope.”
It’s a sad but all too common story...
Too many of us have fallen for the grow rich overnight scheme. I see it happen time and time again. An excellent sales person gets you on a call and promises you the world. You think with excitement that they can help you shortcut the process. You think, gee I got lucky. This is going to work.
Fast forward a month or two later and you are left with resentment, anger and bitterness. The hard earned money and time you invested didn’t work. You didn’t get the clients or sales you expected. You are in exactly the same place you were before you invested the money.
This is a big confidence killer. It also makes it difficult for you to know who you can trust. It makes you hesitant to invest in you and your business again.
The good news is, you’re not alone. It’s happened to us all. Myself included.
It takes time to build your business. It requires smart thinking and strategy. And dedication, long hours and incredible belief.
So how do you choose where to invest your time and money? How can you confidently move forward?
Step One: Accept that it Takes Time
And honestly you want it to take time. Because time allows you to build the best customer experience for your clients.
Time allows you to refine your proprietary process. Time allows you to narrow your niche…to know which clients you enjoy working with most. Time gives you the space to build your brand and brand story.
Take the time to build your foundation.
And when we don’t take the time to define these key things, there’s a huge cost...
There’s nothing worse than investing your time and money before you are clear. You will spend thousands on leads that aren’t a good fit. Or you will have sales calls that don’t convert. You may get clients but won’t be able to retain them.
All of these issues cost you even more time and money. And they will bring your energy and confidence down.
Doing things in the right order requires you to step back, get clear and move forward strategically. And that takes time.
Step Two: Define Your Mission, Values & Goals
I know you are probably thinking...”Holly, what does this have to do with where I invest my time and money?”
Stick with me...
If you aren’t clear on these fundamentals, you won’t have a compass guiding you. You don’t know what you are building without these foundations mapped out. And if you get on a sales call with someone who is clear and confident, you will likely invest in something that isn’t the right step for you.
Without clarity, we can never make good decisions. Never get on a sales call until you are clear on your expectations. When I get on a sales call, I map out exactly what I expect to get from the agreement.
So back to our basics...
Let’s start with building out a plan. Don’t get caught in over planning. But it is important to define your goals for the quarter and year. Map out how you will make those goals happen.
Having small action steps you can follow to get to your BIG goals is the key to success. Otherwise, big goals overwhelm us. Overwhelm is a reminder that we need to break it down.
Without a clear road map of your goals and where you are going, you can’t possibly decide where you need to grow. You can’t decide how to invest your time and money until you know what you are going after.
Get clear and define your values as a business owner. Do you value integrity, honesty, authenticity? Or perhaps freedom, fun and adventure are important to you. Whatever your values are, get clear and write them down.
What values are important to you in your business? This may vary from your personal goals. Knowing your business values helps you get clear on who you want to work with and why.
Sometimes people get lost in the process of creating their mission statement. It’s simple when you break it down though.
What is your “I believe” statement? For example, I believe that everyone deserves to live a happy, inspired, healthy and fulfilled life. Your belief statement is the reason behind everything you are doing and building. It’s what gets you out of bed, excited to tackle the day.
To turn that into a mission statement, add who you are serving to it and how. For example, it is my mission to help small health and wellness business owners live happy, inspired, healthy and fulfilled lives by helping them attract and serve more clients.
If you can’t define these three things, start here.
Don’t invest your money anywhere until you complete steps one and two. These are the foundation to clarity. Without them, you won’t have the compass you need to make decisions including where to invest your time and money.
And if you can’t figure it out on your own, consider working with a business coach.
If you decide to start here, this is where you should invest your time and money before moving to step three.
Don’t skip this step. I promise you, it’s worth it. Without the foundation, future decisions and investments will come back to haunt you.
Step Three: Find the Opportunity Gaps
Now that you have the foundation in place. You have a detailed plan with everything you need to do to be successful.
Are there any steps that you aren’t able to do alone? Where are your weaknesses? Where do you need help within your plan? I call these opportunity gaps.
Questions to Consider:
- How will I get potential clients on calls?
- How do I sell my service, class, product?
- Do I need help writing copy for my website, marketing, or sales page?
- Am I clear on who I am serving and how?
- Have I built out an amazing customer experience?
- How will I scale and grow to that next level if I hit capacity?
- Have I defined what full capacity looks like in my business?
- Have I defined what success looks like for me in my life and business?
Once you are clear on the gaps you have, begin by prioritizing them. Which gap is most important for your goals this quarter?
If you did a good job of putting your plan together with action steps in the right order, this will help you prioritize what you need to work on first.
However, this can be an overwhelming process. There are many things you need in place to test selling a service. For example, you need:
- A sales page that converts leads into clients
- An email list to nurture leads that aren’t ready to buy
- Lead magnets to build your email list (i.e. your gold mine)
- Templates for marketing on social media
And this is where many of us get stuck in overwhelm. There’s too much to do to get started.
This is why I created my Business Gold Mine Accelerator Package. So that small business owners have exactly what they need to hit the ground running.
Don’t invest in marketing until you have the foundation built. You are wasting valuable dollars and potential clients when you do this.
My Business Gold Mine Accelerator Package includes:
- 2 Coaching Calls
- Kick off call
- Review call
- 1 Sales Page
- All the copy, images and CTAs (calls to action) that you need for your high converting sales page
- 1 Lead Magnet with an onboarding email campaign built in Active Campaign
- 3 social media templates and ideas to market your product or service
And the best part, it’s all done for you. And it can be done for you in one day!
Imagine having everything you need to sell and market your solution in one day. Stop worrying about wasting time. No more having to learn about things that aren’t in your wheelhouse.
Get into action. Start serving the clients you want to help. Build that foundation overnight.
Interested?
Let’s hop on a call to book your Accelerator day now!
