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Money on Tree

Last weekend I bought Megan Auman of Craft MBA's Business Growth Planner, a pdf workbook to help you create a concrete financial plan for your business. Apart from my 2 go to small business books, Craft Inc. and The Boss of You, I have not spent any other money on actually learning how to go about setting up a profitable small business.

Does this seem odd to anyone else?

I've spent years working on, learning and forever trying to improve in my chosen field, however I have virtually no business experience and those are exactly the skill that I am relying on to make my craft/art my living. Hmmmm, this sounds fishy.

I've thought about hiring a consultant or taking some online workshops but have yet to pull the trigger. The only reason I was brave enough to invest (ok, it was only $10) in Megan's guide was because I was already a big fan of her work and was confident I wouldn't be let down. As it turns out her Business Growth Planner is exactly what I need at the moment.

I am an expert soul-searcher, a professional goal-maker, and tireless product developer, however the one thing that I always manage to put-off tackling is the money. I really wrestle with the risk of investing a substantial sum of money into products and not having them succeed. This is where it all comes full circle though. After reading the Business Growth Planner I realized that part of my fear is that since I have yet to tackle English Muffin's finances they are still a big unknown to me. However, if I can project the revenue I stand to make because of the money I invest up front, and have a very clear plan about how I am going to make that happen, then the thought of money flying out of my bank account and into English Muffin is somewhat less daunting.

I personally don't think I'll ever get over my fear of spending money, be it on me or on my business. Except for my recent iPhone purchase (!!), I rarely spend money on anything besides rent, food and the occasional dinner out. What I do need to work on is understanding that taking my business to the next level is going to involve a financial stimulus package courtesy of yours truly.

So, my question for you is:

How did you muster up enough courage to make that initial investment in your small business?

Pinching Pennies

(image: Elin Ivemo)