Starting out as an entrepreneur is in equal parts exhilarating, exhausting and requires an awful lot of investment in your business! And while you may have had a little start-up capital to help you launch, what happens when you’re a few months in and there’s no cash rolling in – yet? Your business plateau’s before you’ve even started. You know that to move forward you need to invest; you might need scheduling or accounting software to save you time, want to attend a workshop to gain new skills, need a business coach to help you navigate the first few overwhelming months, or book a stand at a wedding fair to get your brand out there.
But when you’re not making any money, where exactly are you meant to find the cash you need to invest in your business? Of course you could go to the bank, an investor or beg family and friends for their financial help, but that is only going to eat into your future profits before you’ve even made a penny.
CUT THE CRAP
When I started B.LOVED, I had zero cash to invest. As a newly-wed with a new home and honeymoon debts to pay off there was nothing ‘extra’. My full-time job gave me a reasonable income, and for the first three years I juggled a 9-5 (well, more like 8-8) and grew my brand. So I invested in my business using bonuses and the little income I was making. And while it worked, it was also a slow approach – I saved for almost a year before I could afford to go on a UKAWP course, it was 3 years before I had enough to rebuild my website.
You can’t afford to wait that long, right? The quickest and (somewhat) easiest way to find the extra cash to invest in your business and get the the tools, training and resources you need is to cut back on your overheads. Or to put it bluntly, cut the crap. That latte you just grabbed while waiting 5 minutes for the train? The cute maxi dress you bought even though it’s November? The small fortune you donate to your local sandwich shop every day of the week?
It has to stop!
Just while you’re getting on your feet, I promise this won’t last forever! After all, the reason for setting off on this crazy entrepreneurial journey is to create the financial freedom that you desire.
As you can see, these small, sometimes seemingly insignificant amounts, can quickly add up allowing you to do the things your business needs to move forwards. And the best thing? As soon as you’ve made the investment you’ll start to see your business change, you’ll start to get more bookings and your bank balance will start to look much healthier. Don’t worry, you’ll be back to your latte’s in no time!
Ready to join the HiveTribe? Click here to become a member of the B.LOVED Hive today.