The Cost Of Being Cheap

I have a confession: I am fucking cheap.

Not cheap as in frugal, or coupon clipping, or even spending countless hours shopping around for the lowest possible price I can find for ugly Ugg boots because I am terrified of my first real winter. (No, I have not done that at all).

I’m the worst kind of cheap. You know. The kind that will pay my bills late, wear the same bra that makes my boobs look saggy, and walk around in pants with buttons missing but always has money in the bank. And when it comes to drinking good coffee, eating good food, and drinking good wine, I have no limits.

For years I struggled to build my business. Penny-pinching my own dreams!

It sounds ridiculous now, but the thought of investing actual money into my business made me ill. Like I was somehow cheating the internet business phenom if I didn’t “grow my business overnight” with no money invested, then I wasn’t doing it right.

Dumbass.

 

Let’s talk about what being cheap cost me.

1. Time

The first week I hired my first assistant. I couldn’t believe the relief I felt. All of this time I struggled trying to get things done, always having to be glued to my computer… The time away from my family that was spent pecking away at a keyboard till the wee hours of the morning.

All time that I can never get back…

2. Growth

Immediately after I hired an assistant I was able to take on more clients, and the investment of hiring an assistant was recouped easily within the first few weeks of me having her. Sounds crazy to me that it took me THAT long to figure it out. But I know I am not alone in this.

3. Money

Because I was always trying to do things myself and I was working hard, but not smart, I lost out on money but there is no way on earth I could do everything myself. Missed opportunities and failed ventures, all because I was too cheap.

Can you relate to what I am saying yet??

 

How To Combat The Fear Of Investing Money Into Your Business

It’s hard to just flip a switch and get out of this bad habit. It’s often a behavior that is very deeply rooted, but I do have a few tips to help you get out of the “I can’t afford to invest in my business” rut.

1. Get A Job

Don’t knock the day job. Sometimes it’s just what you need to get over the hump. Maybe you get a job and plan to keep all of the money you make to redesign your brand. It will take the financial stress off of you and allow you to make progress in your biz.

2. Create A Budget

Start small, but start. Set aside $200 a month to use for investing in you and your business. Take that course, buy that book, create a Facebook ad or Google ad, pay for someone to redesign your header… something. The goal is to do something each and every month that will keep you moving forward to your goals.

3. Make A Plan

You need a plan detailing where you are trying to go so you know how you are going to get there and what kind of funds you will need. You need to know how much creating that online course will cost, or publishing that book, or taking that course you’ve always wanted, or hiring that AMAZING assistant.

 

Bottom line, it does take money to make money. It doesn’t matter if you are an internet business. That doesn’t mean you shouldn’t invest in your future. And when you think about how bad you really want it (because I know you want it bad) it will all be worth it in the end.

 

So now to you. What has being cheap cost you? And what have you done to help yourself get out of that mindset? Share with me below in the comments.

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Comments

  1. says

    Hey Angie,

    Well said! I think the best way is to get a job and start saving! Haha. Of course, another way is to plan. Proper planning will help you save more money or … ensure that you are getting the best bucks for your money.

    Have a blessed week girl!

  2. says

    Hi Angie,

    Great article and I definitely agree with you. It’s important to invest in your business.

    I don’t have an issue investing in my business, in fact, sometimes I find myself spending more than I should.

    I started outsourcing article writing for my PLR store when I first set it up. It’s nice to watch my PLR store grow and knowing that I don’t have to do any of the writing.

    I agree that you can’t definitely do it all by yourself. Especially, if you have so many other things going on in your life.

    I’m glad to hear that outsourcing has definitely made your life easier. Thanks for sharing and I hope you have a great day.

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