The word investment can have a lot of different meanings. Today I want to look at investments of time and money into your personal development or your business. And I’m coming at this as someone who’s recently done a fair bit of investing into my business specifically.
I haven’t done the maths, but I’ve spent a lot of money on my business since deciding to become a coach, from my coaching course itself to podcasting equipment. I’ve also recently poured more money and time into redesigning my website, an NLP course and a marketing course.
These haven’t been the only things pulling at my attention recently though.
I’ve seen so many launches, offerings and programmes all vying for my investment, looking sparkly and telling me how much they’ll impact my business. Some of them tell me not to let ‘fear’ hold me back from investing. And when this is done badly, it *really* gets my back up.
Because, as much as I would love to invest lots of time and money into my business – I physically can’t. I do not have the funds nor the hours in the day. And changing my money mindset won’t change the amount I have to spend on rent and bills each month.
And also… I don’t have to. I have the right to pick what will be the best investment for me at this time and decide what it is I really need support with. I know for some people fear can be a factor, but when this is offered up as the *only* obstacle in the way for people, it frustrates me.
So today I wanted to speak to those of you ready to make an investment but perhaps you’re surrounded by lots of different options (like coaching, courses, workbooks or products) and you’re not sure which to choose. Or, you’re questioning whether you need to make the investment at all.
The following questions can, I hope, help you get to the bottom of this and decide what will have the biggest impact.
What area of my life/business feels like a slog right now?
What is it you’re really struggling with right now? Try not to think about the different offers out there – take them out of the equation entirely and focus in on what you’re finding difficult.
It can be easy for us to see an offer and automatically think it’s what we need, but I would encourage you to question yourself here. For example, if you see a course about marketing – is it really marketing you need help with or is it the confidence to market yourself?
Is this something I feel I can handle with limited support/guidance or will it require more?
Once you’ve identified what you really need support with, consider how deep-rooted this issue is for you and how much support you think you’ll need to overcome it. Let’s keep going with the confidence to market yourself example.
If you’ve always struggled with your confidence, a short e-book might give you some helpful hints, but will it make lasting change? You might want to ask yourself if a more hands-on and long-term approach is needed. This will totally depend on your circumstances, but do give it some thought.
It can be easy for us to make small investments in things we think will help, but if they’re not substantial we might end up spending more money over time than we would have if we’d just started off with the right investment.
How do I like to learn?
This is so important. Ask yourself what type of learning environment you enjoy the most. Do you like to do a lot of self-reflection in your own time? Do you prefer being in a group environment and making connections? Do you like learning from videos or written text? Do you need accountability?
All of these questions can help you narrow down what type of offer might be right for you.
What will make the most impact?
When we’re bombarded with lots of different actions it can be tempting to take a scatter-gun approach and try them all, but this is likely to cost a lot in both time and money. Instead, try to think about what investment would make the most impact in your life/work right now.
What is the outcome I’m hoping for?
Take some time to imagine your ideal outcome after making this investment. How will things be different? What will change? What areas of your life will be affected? This can be a really powerful exercise and help you understand the value of your investment, which takes me nicely on to the next question…
If I get what I hope for, how much is that worth to me?
Think about your outcome and how much you would be willing to pay for it. This can be difficult, so don’t get caught up trying to put a specific number on it, just think roughly how much you would be happy to pay to get the outcome you want. Then it’s time to factor in your financial situation.
How much can I realistically spend?
Sometimes big investments pay off, but I hate the idea of someone putting themselves into debt for an outcome that simply cannot be guaranteed. Instead I would encourage you to consider how much you would be willing to pay, then factor in how much you can realistically afford to pay and find a comfortable ballpark number.
Hopefully by now you have a better understanding of what investment you’re looking for and how much you can pay for it (in either time or money, there is so much amazing free content out there!). The next steps I would recommend are to do some research on professionals offering the type of investment you’re looking for.
Get to know them, consume their free content, follow them on social media, build a relationship with them. Ask them questions and ensure you feel really comfortable when you make the choice to invest. Please don’t invest from a place of fear. If the only reason you’re doing it is because the person selling to you is making you feel like you’ll be a failure without them, you’ll likely end up unhappy with the outcome.
A bit of uncertainty, fear and even guilt is common, but as long as you feel like you’re in safe hands and you’re coming at it from a place of excitement, you shouldn’t be disappointed.
I hope this was helpful for those of you looking at what changes and investments you can make in 2020. I’d love to hear what investments you’re planning, let me know in the comments or reach out on Instagram.
And if you’re planning to invest in yourself through coaching to improve your relationship with self-care or self-worth, do take a look at my packages and see if one of these may be right for you (after working your way through the questions here of course 😉 ).
I’ll be back next week with a blog about intentional morning routines. Until then, take care.
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