Scared Money Don’t Make Money | Knowing When & Where to Invest Your Money

“When and where do I invest money in my business?” It’s a question that every person who is starting a business must ask themselves. In this episode, I take you through the process of understanding the best time and the best places to invest your money. Topics include email management systems, brainstorming, business masterminds, and research.

Deciding on when and where to invest in your business requires a four-step process:

1) Inventory

Take stock of all of your options. What needs does your business have? What ideas do you have? Where could you spend your resources (time/money)? Once you have all of your answers, WRITE THEM DOWN. Research shows us that we benefit when we put a pencil in our hands and physically write out our ideas. This gives your thoughts a place to live and you then have time to reflect on all of your options.

2) “Scared money don’t make money.”

That’s what my husbands likes to say. Look: You have to understand that you WILL need to invest money in your business – so just start planning now. Your time is valuable and, in the long run, you’re actually spending more money by not investing in what you need – whether it be an email management system or a graphic designer.

3) Determine what needs to happen first.

You now have this list of ideas and you’ve decided that you definitely need to invest in your business. Well, now it’s time to prioritize. What MUST happen now? What single idea, system, or investment needs to be implemented ASAP in order to grow your business? Your answer will help narrow your focus and provide you with the clarity you need to move onto…

4) Research.

Once you have a good sense of what’s next for your business, then you have to do your due diligence and research the heck out of your options. One way to get help is to get a business coach or join a business mastermind. Have somebody around that you can bounce ideas off of – somebody with experience.

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Helpful Resources:

Chalene’s Courageous Confidence Club:

This program gives you the tools you need to build confidence in every area of your life. You are supported by a group of people who are going through the program with you and are a sounding board for decisions and opportunities. This program will get you unstuck from your current situation and will teach you the steps needed to get your life in the direction you want!

For help with goal setting and determining your life’s priorities, check out Chalene’s 30 Day Push Program:

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