Shoestring Startup dot Net

I’ve been thinking about Dawud’s comment on my last post, about selling products to fund your company.

“Hey Michelle. I think you make a great point. One thing I often see with solopreneurs is a seemingly unwillingness to invest in their business. Yet, from my experience, without the investment, you’re not fully committed to your business.”

So right he is. You’ve got to be committed. Without commitment you might have intention, but without action. Without commitment your intention is all in the mind.

Commitment is the one thing that will propel forward to your hearts desire, - and your goals.

In business you’ve got to use everything you’ve got:

Mind, Emotion, Heart, and Physical action.

Then you’ve got the commitment.

When your heart and mind are aligned, then you will push forward with everything you’ve got, - you’ll be willing to spend the money to help you get there. You’ll find the cash to invest in yourself and your business. You will be excited about it.

I mentioned in my last post that I worked several jobs to fund a business. I’ve also sold jewelry and borrowed money to move myself forward. My commitment was big. I knew in my heart this was the right thing for me to do. Money wasn’t a drawback, I just found it. I did whatever it took to move forward.

Sure I was scared, but I did it anyway. My heart was in the process and I was ready.

I also had a plan.

Business planning, (from the heart) will guide your actions. You’ve probably heard that having a business plan is like having a road map. So true. When I’m traveling in strange lands (sometimes the next city over), I take my map. I may or may not use it, and I will probably make a few turns on intuition. The purpose of the map is to help give me confidence and to guide me to my destination faster.

More on planning in future posts though. This one is about how to spend money.

Do you need to invest money to be committed?

I wonder if money is the only way to invest? Often that is the case. For some, money is the only currency that makes you sit up and take notice. It forces you to align heart and mind. Without money invested some people just sit around and wish and hope. Maybe even pray. That’s all good stuff. Now get your butt in gear and move it!

Money makes you move forward, do something, take a step. Once you’ve put cash on the line you won’t sit around hoping and wishing. You know it’s up to you to make something happen.
Money = Action

Once you’ve spent money investing in your business, you are more likely to kick it up a few notches. You’ve ‘put your money where your mouth is.’

Yet for those on a shoestring, you’ve got to choose wisely where to spend the money.

Here’s a tip on how and when to spend the little money you do have:

• If you’ve got time and no money:

Spend your time, doing the tasks that will make you more money. - Usually selling and promoting your business.

That could include public speaking, writing articles, teaching in your field, contacting customers. Invest every moment of your time promoting and selling yourself. This will bring in cash so that you can build your business. It is so easy to get distracted by the little things. If you’ve got extra time you might be tempted to read industry mags or clean your office. Stay focused on the task - building your company.

• If you’ve got money to spend, but no time,

Spend a bit of your money to free up your time. Maybe you’ll hire someone to help you sell, or promote your business. Maybe you need accounting help. Whichever tasks you are weakest in, hire there first, so you can focus on your strengths to build. You don’t need to hire full time - or even on a consistent basis. My weakest link is filing. I know how to do it of course, I just don’t like to. Once a month or so I have a teenager come help me file everything away, clean up my office, help me get organized. During the month I put everything in organized (sort of) piles so I can find things. Then she gets it all in top notch order for me. It is worth every penny!

How do I know if I’m spending in the right place?

If you aren’t sure if your heart and mind are in unison towards a project, commit to spending a large amount of cash toward something you want to do.

You’ll know in a heartbeat if it skips or jumps with joy.

For example, if you are thinking about doing a trade show, put your hand on your heart and ask if it is the right thing for you to do at this moment.

You’ll get the answer immediately.

How do you feel? If it is the right thing, but you are scared, ask where the fear comes from. Heart or Mind?

Sometimes fear comes from setting ourselves up for unrealistic expectations.

But often fear can protect me from acting on a whim. Moving forward with an idea that doesn’t resonate with me. Maybe the idea came from my mind or a friends suggestion. Either way, my heart isn’t engaged. I don’t really want to fork out the cash, and if I do I won’t be fully engaged in the follow through.

Is the fear stopping you or protecting you? If it is protecting, what is the protection from? Real or imagined?

But if you know that the trade show is the right thing, then you’ve got to go for it heart and soul.

Make sure you’ve also got your plan of action; a mini-business plan, or project plan which outline the steps you’ll take to ensure a return on your trade show investment.

Spend the money, commit, plan, follow through. And do it all consciously, engaging your heart and mind.

But what if you get a no, not now, don’t spend the money?

Maybe your heart wasn’t in the trade show idea. Perhaps your mind says you ’should do it’, or maybe you thought it was a good idea, but if your heart says no, I’d trust that.

How have you spent your money in business? Did you feel you needed to to have commitment?

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In the following posts I’ll be covering business planning from the heart, budgeting and spending with integrity. Holistic Marketing. Subscribe to Shoestring Startup, so you won’t miss a beat!

(Want more easy start-up tips? buy my e-book Marketing for the Holistic Practitioner)