Whenever I’m speaking with freelancers and entrepreneurs, one of the biggest things I hear is about the obstacles standing in the way of investing in their businesses. Most frequently, I hear about how they just don’t have the money to invest in their business.
For those of you who feel this way, I have a challenge for you. I challenge you to find the money to invest in your business. In this article, I’m going to teach you how.
Change your mindset.
The first step needed in order to find the money to invest in your business is to change your mindset. We’re accustomed to thinking that money is limited and we can’t invest when in reality, there’s money all around us.
I admit that sometimes I fall victim to this mentality. Just recently I was debating whether or not I could actually afford a trip to Puerto Rico for a business mastermind retreat.
Then I snapped out of it.
First, because I had plenty of money to pay for it. Second, because I knew it would help me make more money. And third, because I can make whatever kind of money I want this month.
As soon as I changed my mindset, I started receiving notifications for sales from my online store. I also got the idea to start creating Make Money Your Honey merchandise via Tee Spring for the upcoming holiday season. This will add a little extra padding to my revenue which I can use to invest in my business.
So your first step is to catch yourself when you are veering off into a lack mentality. Once you catch yourself, commit to finding ways to make more money so you can invest in your business. This will open you up to creative ideas for generating money.
Look outside of your business for extra income.
I admit that it takes some time to build a business. That being said, there are plenty of other ways to find the money to invest into your business. From driving for Uber to testing websites via UserTesting.com, there is no shortage of opportunity to make some extra cash these days.
In fact, I still find ways to make money outside of my business. The money I make in my spare time is usually reserved for boosting my emergency savings or my travel fund so that I can reinvest more of my business revenue.
By using this approach, you can free up some of your business revenue so you can invest in your business without worrying about how to pay for it.
Turbocharge what’s already working.
Rather than finding new ways of making money so you can invest in your business, you could just see what’s already working in your business and turbocharge it.
For example, in mid-2015 I needed to find the money to invest in my business. I noticed an uptick in the demand for finance content writers, so I decided to shift my focus to just writing for a while. I tripled my monthly revenue in three months.
There are plenty of ways to find the money so that you can invest in your business. By focusing on growing your revenue instead of complaining about how there isn’t enough, you can boost your business in a matter of weeks.