Why Investing In Your Business Is Your First Real Test As An Entrepreneur - Lulu Minns Blog

Why Investing In Your Business Is Your First Real Test As An Entrepreneur

Since coaching, I’ve had many conversations with start up entrepreneurs who are worried about savings, debts and pensions. It can be scary to invest in a new business as it doesn’t come with guarantees. Many are not prepared to do it and some are unwilling to go into ‘debt’ in order to do so. Some people cannot find the money and decide to save up for the opportunity instead. The opportunity which to be honest is unlikely to be there in 6 to 12 months time.

There is a huge wave of people wanting to make it as an online entrepreneur these days as in my humble opinion that is the way the world is going. Online entrepreneurs are setting the goalposts and trends in the technological age of how we run our businesses and live our lives. And if you are busy ‘saving’ up in order to really become part of it, you could well be missing an opportunity of your life.

Investing in yourself and your business is really the first test in becoming an entrepreneur who is serious about making a stand in their field of business. And investing is an essential part of being an entrepreneur, it is what we do and really it’s your first test. Are you prepared to put your money where your mouth is?

Employed people worry about savings, debts and pensions. Entrepreneurs worry about cash flow, growth and investing. This is a huge mindset shift in becoming an entrepreneur and one I think women find it harder to grasp than men.

Why? Because confidence wise, it’s been scientifically proven that as women, we wait until we are 95% ready to go for a job promotion compared to men who tend wait until they are 60% ready. We often wait for perfect, we wait for the perfect bank balance and the perfect personal circumstances and so on. But the truth is perfect doesn’t exist.

Do you think Richard Branson waits to save up for the next opportunity in his business? The answer is no, of course not. And neither does Oprah Winfrey. They see an opportunity and they go for it. They find the money first as when you are growing a business, the investment is always uncomfortable and if it isn’t – you’re not thinking BIG enough. The fact is it should be uncomfortable as it’s those risks which take you to a different place to where you are right now.

I know its not easy to take those leaps of faith and for me when I first invested in coaching, a year after leaving my professional career – I had avoided getting myself into any ‘debt’ and was reluctant to do so when my finances were not what they had been. Every month, paying my mortgage was a concern. And I hadn’t invested too much in my first two businesses which I have since realised is because they were not right for me. Thankfully I realised with coaching this was my first test. Was I serious? And willing to give it everything I had?

The answer was yes, I was and I’ve continued to invest from that point onwards. After all investing in your business is also tax deductible. It’s just as entrepreneurs especially starting up in the first two years, our job is to find the money first.

When I invested in my current coach, I felt nauseous at finding the 5 figure sum I needed. I then decided to work with her for a year increasing the amount even higher. And you know what, in this month alone I’ve made the full sum of that year investment in just one month of business.

Investing to a high level means you take your business and you to a higher level much quicker.

So ladies, stop waiting for the perfect time. The moment is now. The opportunity is now. Don’t wait to grab the bull by the horns, invest in you and your business.

 

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