This week we’re featuring guest blog posts from the Collaborich Conference, taking place September 30 to October 2, 2015. This is the second post in the “Financially Free Entrepreneur” series.
Yesterday we got some incredible insider tips from our #Collaborich speakers on what they wish they had known BEFORE they had started a business. Continuing with our series, today we are diving into what you should spend money on AFTER you have a business. Check out these awesome insights from our powerhouse panel.
—Stephanie, a.k.a. The Millionista Mentor, founder of The Collaborich Conference.
“The first investment I made after starting my business to leverage my success was delegation! I invested in systems that would make my life easier and my business run more effectively, like a payment processor, a project tracking system, an email system and many other systems. I also invested in hiring others to assist me in running my business. I started with paying college interns, hired an assistant, and then anyone who had an expertise that was outside my genius zone I would hire as I needed.” — Kelly Lynn Adams, Business & Life Coach
“Apart from the initial start up, setting up a website, getting the right gear, etc., I quickly found that the best investment for my business was education. By fine tuning my skill and really taking the time and energy to perfect my craft, I was able to leverage my talent, my pricing and my position in the marketplace by sharpening my qualifications and technical knowledge (my first small business adventure was as a photographer). My second round as a small business owner, I had learned so much…my very first investment was a lawyer, an accountant and proper licensing. It again was an extension of crafting our qualifications appropriately, but with a more professional and deliberate “to do” list as we got up and running as consultants and studio owners.” —Katy Blevins, The Modern Femme Movement
“After the business registration, licenses, and my website it was my business cards! I probably had them prior to actually having the business because I couldn’t wait to share them with everyone and what a proud moment to see my name in print alongside CEO. You may not think that business cards are the best initial investment, but I challenge you to think like this: A creatively unique business card is a conversation starter, and all you need to build your business is conversations.” —Stephanie Melish, Sales Strategist
“I’d have to say it was hiring our first assistant. While I would have gone about it differently now, looking back I’m glad we threw ourselves in the deep end with delegating specific tasks and not trying to do it all ourselves.
I find that’s such a huge roadblock for us webpreneurs – we think we HAVE to do it all, and it’s so not true. In fact, when you DON’T do it all yourself, you allow your business to grow in ways it wouldn’t if you were in the weeds trying to do it all.
Apart from that? FB ads all the way!” —Jill Stanton, co-founder of Screw the Nine to Five
“I bought a Mac laptop that would be light enough to carry anywhere I go. “ —Juliet Turlaski, Personal Development Thought Leader
“The first big investment I made was in a group mentoring program. It was $2000 and it was a lot of money for me at the time, but I believed in myself to know that I would make my investment back. This program helped me with the foundational elements of running an online business that I was clueless about. Having come from a corporate marketing background, doing things online was new to me. This program helped me get those pieces in place so I could build from there.” —Jenn Scalia, Business + Visibility Coach
“Well, I made some initial small essential investments (email management service, and a DIY SquareSpace website), but my first big investment was in a coach. Someone to mentor me and help me cut the learning curve in half. This was someone I connected with and trusted to help me grow my business and increase my success quicker than I could have done on my own. Invaluable investment for me.” —Adrienne Dorison, Success Strategist & Money Mentor
“The first thing that I invested in was systems that automated my business. The moment I did this my business gained so much momentum, because I was no longer wasting my time of doing everything manually! Click Funnels is one of my favourite business tools!” —Maria Hinton, Prosperity Coach
“I’ve invested thousands of dollars in my business and every dollar was well spent. My first investment that was key to my success was high level private coaching. Nothing beats getting unique strategies that are specifically designed for my business. Private coaching has done wonders for my business.” —Fabiola Giordani, Branding Consultant
Nothing beats investing in yourself, and if it’s free, even better for your accounting!
Join the Collaborich Conference LIVE at www.CollaborichConference.com, Sept 30 – Oct 2.
The information and tips we’re sharing in this article are meant to be a starting point for your year-end tax prep, so you can be informed and feel confident when working with your accountant. Be sure to check with a tax expert in your country or region for any specific advice you need, as each business (and tax district) is different. As our lawyers would say: “This article is for informational purposes only. It should not be considered legal or financial advice.”