Refuse Defeat featuring Ellen Coule

#009 Create an Action Plan when Investing in Your Business

Investing money without a plan on how you will get a return on investment. We need to be aware of how we are feeling. Money is a hard point for many people, and realizing that we have been spending our money in the wrong places.

Learning lesson on how she was showing up and why she was investing in the wrong places without having a strategic plan.

You may think this next big course is it. It will help you finally reach your ideal business goals, everyone is taking it, this person has this popular course, but then you purchase it. You may get caught up doing other things other than fulfilling the course or you made find the next shiny object that deter you from your original goal taking this course.

  • Always ask yourself Is this an investment in my business or yourself.
  • Is this an expense?
  • Can I do without it?
  • Is this my best route?

If you think you can do without it this may fulfill the creativity you were looking for in entrepreneurship. What else can I do without spending any money or a lot less and still get a great result. What can I do without spending an additional dollar. We think someone else has an answer or this is a faster route.

There are many paths up the mountain. We may be able find the next best method and fulfill our goals.

Action items:

  • Look at all of your expenses or the ones you think you want to invest in. Did this expense directly make me a profit? (yes or no).
  • Were these entirely necessary or are they replaceable? Cut out unnecessary expenses.
  • Any ongoing purchases revisit this list and ask yourself these questions prior to purchasing the item.

You will feel better about bills getting paid and your business growth!


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