Unplanned investments in your business

There have been times in my learning journey where I've come across a course that I wanted to do and it wasn't in my budget to do it. I hadn't planned this expenditure.

There’s a moment of indecision. Should I or shouldn’t I?

I'd recently come across a course and I KNEW I could benefit from it, but it was way out of my budget – way out of my comfort zone.

But I could see the value of the transformation it would bring.

I loved the business model, the delivery mechanisms. I knew I wanted to incorporate the same in my programmes so I wanted to understand how it was done. This was an investment in market research.

But it was unplanned.

I had to weigh up whether it was a good investment and I was looking at it and thinking “I really don't have the budget for this. This was not a planned expense.”

Then I weighed this against what I was getting in the programme and I looked at the value and I looked at the people delivering it. I’d have access to a team of experts in different fields.

And I thought: “Yes, this is a huge amount and I am not really prepared for this budget right now. But if I miss this now and if I don't do this now, I'm delaying my next launch. I'm delaying getting better at what I do and that's going to impact me later in my ability to increase my income. I was looking at it as an opportunity cost.

What would I LOSE if I didn’t take action?

It’s been my experience that when people say to you that they can’t afford your offer, it’s never truly about the money. If they want it that much, they’ll find the money.

So, weigh up the cost.

If you can pay $10,000 for example to learn something and then over the next three years, you can increase your income by $1 million, it’s a no brainer, right? And if the opportunity to lock in the training now and at a fair price is there, I would say, take it! Don’t delay increasing your value because of a short-time loss in funds.

YOU CAN ALWAYS MAKE MORE MONEY. YOU CAN NEVER GET BACK TIME.

What’s the opportunity cost you can lose taking a few more years to get the expertise you need to change your future?

Flip your thinking and instead of thinking “Have I got the budget?” think “What's the opportunity cost if I DON’T take action now?

What am I putting off, perhaps forever?”