Supporting Small Starts With You: 3 Questions to Ask When Investing In Your Business
BY TARYN JEREZ
You’ve been hearing “support small business ” more often than usual over the last year and for good reason. With a global pandemic, political and racial divide causing numerous struggles among small business owners, it’s an important reminder that they need our support more than ever. Can I let you in on a little secret though? Are you ready? That means support YOU, too.
While you may have spent the last year masking up while shopping local or clicking “add to cart” online with some amazing small businesses, I want to challenge you to remember to invest in your own business while you’re at it.
If we’ve learned anything from these last years, it’s to focus on what we CAN control. So believe you have the control to grow to new heights because you do! Ask yourself these questions to help determine which areas of your business are worth investing in.
#1 Where am I seeing the most opportunity in my business?
It’s easy to get stuck in the rut of “what’s everyone else doing?” when we’re surrounded by social media showcasing the moves other brands may be taking. Quiet the noise of what everyone else is up to and home in on the direction your own business is headed. What’s been working beautifully most recently? What do you see becoming wildly successful if you could just focus there? Where does the opportunity really lie to make big moves yourself? Before you spend your time and money investing in systems and people, you need to make sure you know what your game plan is to make sure it’s worth it. Take time to work out the details and then challenge yourself to invest in those key areas leading you where opportunity stands out.
#2 What is stopping me from getting to my goals?
While entrepreneurs tend to be “Jacks of all Trades” working on multiple areas of their brands, it’s important to remember that not every area is your strong suit. Think about the different aspects of your business that keep you playing small. Where do you feel the least confident or know if you just had a little help, you could soar to new heights? That is where your investments will have the biggest ROI! If technology makes you freeze and it’s stopping you from launching that new website you’ve been dying to create, invest in a web designer. Maybe it’s finally booking a brand photoshoot so you have content photos and a professional headshot finally! Is your offer doing amazing, but you know if you could get it in front of more customers, you’d see a huge bump in sales? Imagine what a social media manager could do for you! Feeling like you are ready for the next step but don’t know where to begin? It sounds like a coach is what you need!
#3 What haven’t I tried before?
There are things you may already be investing in, like a virtual assistant or a bookkeeper, for instance. It’s important to take inventory of what your money is currently going towards and question if each of these things is still providing you with value. Once you’ve confirmed those, brainstorm what you haven’t tried before. Are there areas of your business that could use a special touch but you’re a little “out of touch” with or simply would like to have the added help and confidence around? Maybe you do a good job at keeping up with email marketing, but you just feel like it could be easier or more impactful? Hiring a copywriter or marketing whiz may be something new that will feel wonderful to invest in. Do you have packaging that gets the job done for your shop but really want to move towards packaging materials aligned with your environmental values and brand aesthetic? It might be the first time you invest in a graphic designer with packaging design experience to create the perfect fit. Going down the road less traveled in your own business can often yield surprising results.
Support small business this year and every year, but don’t forget to support you! Invest in the areas of your business and life that will truly make a difference and put you on the other side of your goals.