Want to know what the most expensive thing you can ever do is?
Waiting for the right time to invest in yourself.
As an entrepreneur, you have to constantly invest in your businesses and yourself.
But it can be a challenge to figure out what the best investment to make is at any given time.
The Cost Of Making An investment – Fear Or Faith?
- What if I make the wrong investment?
- I can just do things myself
- I don’t have time to spend training new staff
- I don’t have time to spend learning new software
It’s thoughts like these that prevent you from taking action.
And that’s understandable.
Whether it’s investing in courses, software, or team members, fears inevitably come up.
It happens a lot when people are looking to invest in my course. And the one thing I always ask these people is “Are you operating from a place of fear or faith?”
Most people operate from a place of fear – they’re caught up in their past and they doubt themselves.
They ask questions like “What if everyone else gets results and I don’t?”, and start to talk themselves out of it.
And by continuing to ask themselves these kinds of questions, they inevitably start leading themselves down a rabbit hole of powerlessness.
Like the world-renowned coach Tony Robbins says:
“The quality of our questions determines the quality of our lives”
– Tony Robbins
So it’s important to be conscious of the kinds of questions you ask yourself.
Asking yourself the right questions is especially important after you’ve made a financial commitment to invest in improving yourself.
Because if you walk into a course operating from a place of fear, you’re already setting yourself up for self-sabotage.
You won’t put yourself out there as much, you won’t fully show up and implement, and as a result you won’t get the results you want.
One of the things I say to my participants before they get started in my 3-day workshops is:
“Look. You’re here at a ‘Speak With Confidence’ training program. You’ll be speaking on camera. So the only way you can’t get results is if you don’t show up. You’re here. You’ll be going through the program, running through our platforms and our frameworks. So you’re guaranteed to get results. The only thing potentially holding you back is whether you look at all of this through the lens of fear or through the lens of faith.”
So instead of asking yourself “What can go wrong?”, start asking yourself “What can go right?” and imagine all the ways you can make it works out the way you want it to.
Instead of operating from a place of fear, choose to operate from a place of faith.
The Cost Of NOT Making An Investment
Another perspective to consider is the cost of not making an investment.
People often ask:
- How much is it gonna cost?
- What’s the price?
But rarely do they ask:
- What would it cost me if I didn’t invest in this?
I remember speaking with one of my friends Matt Astifan, who does social media training.
For a very long time I was resistant to hiring people to be on my team to take care of my social media.
I spent a year telling him “Matt I’m going to get my Facebook ad funnel going, I’m going to start doing webinars,” and I had all these plans for my business.
Yet nothing transpired.
Not got built.
As I sat down with Matt one day, he told me “Look, why don’t you just hire someone to do it? Hire someone to build out your ads, build out your landing pages for your webinar, and all this other stuff.“
I reply “Well, how much is it going to cost?”
He tells me “Probably about five grand plus monthly spend.”
Immediately my mind went straight to “Five grand? No, I don’t need to spend that. I know what I need to do. I can probably just do it myself.”
Matt immediately challenges me and says “Well, you’ve been saying you want to build this funnel and webinar, but you haven’t built it in a year. How much is that really costing you? Let’s say you could get a couple of clients and bring in $3,000 every month from this strategy. If you delay another year, that’s going to cost you another $36,000.”
I contemplated what he said to me for a second.
Then realized, “Yeah actually, you’re right Matt. Not taking action is actually one of the most costly things I can do to my business.”
Yes, it would cost me five grand up front to have someone else build my social media funnel for me. But it could bring me $36,000.
Knowing what you need to do and actually doing it are 2 completely different things.
So something to always look at when you’re looking to make a decision to invest in yourself is how much it’s going to cost you not to invest in it – whether it be a public speaking course, hiring someone else, or new software.
Don’t just think about it monetary terms. Think about it in terms of your time – Money you can always earn, but time, you’ll never get back.
By doing so, you’ll give yourself a fair assessment of whether to invest in something or not.
Instead of coming from a place of fear and only seeing the potential negatives from one angle, you’re looking at the whole picture.
And that will influence your decision making in a whole new way.
Never Regret A Decision Ever Again
If you allowed yourself to look at the cost of investing and the cost of not investing when making decisions, you’ll never face regret ever again.
It’s a simple matter of cost-benefit analysis.
If you end up deciding NOT to invest, you’ll know it’s because the cost of investing outweighs the cost of not investing.
If you do end up investing in yourself, you’ll know it’s because of the cost of not investing exceeds the cost of investing.
And you’ll thank yourself for that investment.
Level Up Living
P.S. If you’re looking to become a confident speaker, to get your message out in a bigger way and build a major business that has an impact in this world, my 3-day Speak With Confidence program can help you get there.
If you’re unsure about whether it’s the right fit for you, however, I’d like to invite you to visit levelupliving.com/apply, fill out the application form and hop on a call with me or my team.
We’ll have a quick chat to determine if it’s the right program for you, and if it is, this will be the best decision you can make in your business.