I believe being a business owner and managing an online business is “require hard work” because it requires a different type of thinking and mindset, not what I learned from school…
A way of thinking that almost all of people are not normally used to. A way of thinking that often contradicts what we’ve learned in school and society.
Entrepreneurship makes us dismiss our limiting beliefs and push ourselves more and more every day. Especially those beliefs that include loopholes and bargains, because “free is good” or “cheaper is better.” Because entrepreneurship insists that we invest in ourselves.
Watch this short and super educational video from James Wedmore about the real cost of FREE:
Click Here to Join James Wedmore’s Video Traffic Academy and become a video marketing expert.
Especially at those beginning, start-up level, how many times do we make business and life-changing decisions based on the cost of a tool, system, contractor or solution.
Before writing this post, this morning, I received a message on Facebook from one of my followers asking for recommendation of an email marketing management solution… “but it must be cheap, I don’t want to spend a lot of money.”
The real question this person should ask is, “what is the COST of going the free route?”
How much or “what” is it really costing and what I’m “loosing” if I do it myself (it’s cheaper now I won’t “spend my money”, right?)
Many people don’t ask these kind of questions about investment and cost of a business, because they won’t like the answers. (they already know the answer!)
When I began asking these questions when I started my own business 5 years ago, I discovered I was playing small.
I see this almost every day. The marketer who looks at his or her current financial status (no money in the bank or little revenue and no ability to spend too much on their business, etc) and they make all their future action plans based on the amount of money they can invest RIGHT NOW.
What many new entrepreneurs fail to understand, is creating a better future in business can’t be planned based on our current or past reality. This type of mindset simply keeps us stuck.
For example, let’s say Danny’s goal is to build a $20,000/month business. But at this point, he only makes an average of $1,000 month. Does he act, behave and make decisions like a $240k/year business, or a $12k/year business? Obviously he’s behaving like the $12k/year business that he already owns. These are two very different ways of being and acting.
So, he remains stuck and won’t be able to earn money, because he has the wrong mindset. He opts for the free tools that don’t work as well. He says no to help and decide to “do it all by himself” because it will “save him some money.” He will stay in lack, fear and survival mode.
But the real question is, “would a $20k/mo business do any of that?” No.
The “trick” is to change your mindset to be able to make decisions based on where you want to be(your goal) versus where you are currently at this point. Sounds easy, but it isn’t always simple.
I remember a time when I had to take the bus to school and was living on collage financial aid and didn’t want to invest my money on anything, specially my “online business”. I was always looking for ways to cut corners, save some dollars and avoid costs by joining on these “free courses”. This was the time I worked the hardest and longest hours in a grocery store and dreaming everyday about success. I was the most frustrated and unhappy.
The only barrier between me and success was my mindset… I wasn’t willing to take a risk and invest some money on my business.
On the other side you see these successful marketers every day who know the impact one ounce of knowledge or a simple paid tool can have on their business. They aren’t afraid to invest money to solve problems; therefore money becomes a replaceable resource to them (As James Wedmore said in the video).
Time is not replaceable
I encourage everyone to change their mindset and understanding of investment on your business. There are so many costs involved in running your business and without investing money and trying to do things cheap and free, you will be stuck where you are forever. I want you to forget the money for a minute. What about the cost of your time, your energy, professionalism, quality, …to name a few.
Make every business choice and decision through the lens of a successful business owner and always ask this from yourself when making a decision…
“Would a $______/mo business do this?”