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Are You Spending Enough on Your Business? Comments

If you won’t take a risk on yourself, others won’t either.

I joke with colleagues that I have a wildly successful blog that isn’t making any money, and I know that has to change. Still, there have been times I’ve felt overwhelmed and scared–sometimes to the point of quasi-paralysis. Am I crazy to step away from an established writing business? What if I fail?

But I know deep down that I have no choice: If I were to abandon my plans to expand into new areas I would regret not taking the risk forever. Worse, if I don’t throw myself into it full-throttle, I will likely find myself with two half-vested, sputtering businesses. In order to move forward with confidence, I need to buckle down, establish a plan and focus on a goal–and to do that I need to invest my effort and passion. I also need to invest money.

Spending money on any venture is risky, and there are never any guarantees. But I’ve learned that the more money I invest in my business–which is also investing in myself–the more likely I am to succeed. Making a PayPal payment to a web designer is an act of confidence in my ability to reap a return on that investment. Swiping my credit card for a business coach empowers my business–and me–to thrive. One of the maxims of effective pricing is that people value your services more if they pay for them. I value my own venture more if I also have a financial stake in it.

I often I wonder how–and if--all the financial pieces will fit together, and that can be really, really scary. But it’s not as scary as the thought of wondering what could have been.

Emma Johnson blogs at WealthySingleMommy.com

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