Many women are on a tight budget when starting out in small business for understandable reasons. It is possible to succeed with little financial backing, and many have had huge success on a shoestring with little investment.
We started out the same way in Love Your Small Business and have managed to keep our costs to a minimum. It is tough and things would certainly be easier if we had more money to invest on outsourcing, technology, systems etc, but we make it work!
However one thing we have invested in on multiple occasions is mentoring and up-skilling – expert advice and support from others who can help fill a gap in our own skill sets. What we have found is that in addition to the outcomes outline as part of the programme or course, there are unexpected benefits that have come with each and every financial investment.
Two key benefits spring to mind for me, and they have both been somewhat surprising so I wanted to share them in the hopes they will inspire you to investigate options to invest in yourself and your business.
The main benefit in investing in your business is the confidence, motivation and impetus it provides.
We have noticed that with each investment, we grow in confidence about what we offer and who we are as businesswomen. We are more motivated and work smarter not harder. We gather a momentum around our work that comes with the collaboration and energy. We back ourselves more, and we also have others backing us which leads us to…..
Sense of community:
As with many women entrepreneurs, we can sometimes feel isolated (even though there are the two of us) so the sense of community that comes from working with others is hugely beneficial. Having others who believe in what you do and are prepared to support you is fabulous in terms of confidence. Without fail, our financial investments have also lead to loads of great contacts as our mentors and advisers are never shy about spreading the word about their clients
Can you find the money?
We truly believe the huge value of investing in ourselves and our business and will continue to do this. Incidentally, each time we have invested, money has been tight! We haven't sat around looking at overflowing bank accounts wondering what to do with our spare cash, but have made it work because we really truly believe in the power of investing in small business! It's all a matter of priorities and you CAN find the money if you really want to.
Have you had similar experiences, or come across other bonus benefits when you have made financial investments in your small business? We'd love to hear from you!