WW 179: How To Make Business Investments That Get Results + WCB Walkthrough - Solo Show
Making investments in your business should be an easy process and something that you feel confident in doing. For most of us, it turns into a confusing process of investing in everything and not seeing the results that we want. That’s why in this episode I’m sharing my 4 step process for choosing which investments are right for my business and when to actually invest in them, so that you can try these filters to find the investments that are right for you. As a bonus, I’m also walking you through the framework for the Wealthy Coach Blueprint so that you can decide if it’s the perfect investment for your money coaching business. Loving this episode? Take a screenshot and share it on Instagram! Tag me so I can send you some love (@Tess_Wicks)
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Resources FROM THIS EPISODE
Recommended Listen: Episode 164: How I Became a Money Coach
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Tag me on Instagram @tess_wicks to show yourself working through the pricing workbook. DM me your questions, thoughts, and feedback and I’ll send you a voice message with answers and so much love!
OTHER GREAT Resources
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A Quick Recap from this episode
Today’s episode is pretty perfect timing because I’m sharing with you the 4 step process I walk through any time I’m going to make an investment decision in my business so that I can make sure that decision is going to produce results. It worked out so well because I’m telling you this at the same time that the Wealthy Coach Blueprint is about to open for enrollment!
This process is important to me because I come from a money coaching background. I use this process for myself, but also have my money coaching clients use this process too. The mindset around spending money in your business should be that you think of every dime spent in your business as an investment and that money spent should be driving revenue.
So many money coaches are afraid to spend any money in their business because they’re afraid that they won’t be able to produce the results and bring in more revenue. I’ve felt those same doubts and struggled with going through those phases of not wanting to make any investments.
The first step in this process is when you’re making an investment - and specifically when you’re looking for a coach or a course - look for someone who has already successfully built the type of business you’re looking to build. Sometimes we get caught up in a space where we buy from coaches and marketers who haven’t actually done the thing they’re teaching.
Before you press the buy button, you need to think about if that person has not only built a successful business, but if they’ve built the same type of business that you want. They are most likely going to be teaching you how they built their business, so if it isn’t exactly what you want to create, their knowledge may not help you get there.
This applies to softwares and solutions as well. Make sure that these solutions are going to help you and actually provide the results that you want, and you’re not just using them because someone else does.
Step 2 could have easily been the first step, but I thought it was important to reiterate the importance of finding someone you want to model first. The second thing that I’ve done is to stop allowing shiny objects (or even a peer or a friend telling you what they think you should do) come in and distract you or take your focus away from the action you need to be taking.
This used to happen to me all the time, but you have to develop that mental strength and barrier to know that just because someone is telling you something that they love doesn’t mean you need to do it too. You need to look for investments that correspond with just-in-time learning.
Whether it’s a course, program, coach, software, or even a book, you need to make sure you’re putting BOTH your time and money into investments that are just in time when you need them. We tend to invest in things because we think we’ll need/use them later and it’s usually something we didn’t need or we’re investing in it too early when we don’t need it yet.
The third filter that I use is that once I do find my investment, I commit fully to that investment for a certain time duration. So many people purchase something, get it half built or half finished and then leave it. You have to put your blinders on and focus solely on that investment for how ever long you’ve set for yourself, and then following through with the actions you need to take on it.
This will prevent you from over-consuming and over-stimulating yourself, keeps you from getting burned out and overwhelmed, and makes you focus on action.
Information does not create transformation without implementation.
It can be hard if you’re eager to get tons of information and constantly looking to learn new things, but you have to hold yourself back and hold yourself accountable to focus on the one thing that’s going to move the needle for you right now.
The fourth and final step in this process is something that has been hard for me to do, but once you‘ve made this investment, leave your ego at the door. You may have invested in a program and you may think you know all the stuff you’re hearing, but if you’re not getting the results that this coach or course creator has gotten then you’re not fully embodying the things you’re hearing.
By saying you know it already, you’re deflecting from the fact that you haven’t actually been doing it. There’s a difference between knowing and doing. Of course you probably know it, there’s information everywhere, but are you actually taking action on it? There has to be a deeper reason why you’re not actually doing it even if you know it.
Now you have to actually follow through with what you know to get the results.
If you use these filters, then you’ll be able to find investments that actually work for you and can start to get the tangible results that you need. If you’re ready to make an investment to grow your money coaching business and you resonate with my story of becoming a money coach and want to trust me to be your mentor, then the Wealthy Coach Blueprint may be the perfect investment for you.
If you’re ready to take your money coaching business to the next level, what are you waiting for? Apply for The Wealthy Coach Blueprint by going to wanderwealthy.com/apply. Enrollment for the next round of the blueprint is open, so apply now to save your spot in the 20-person round.
*These links are affiliate links. I’ll get a small commission if you sign up/buy, but this comes at no additional cost to you!
