“I can’t afford it.”
How many times have you said this, to sales people, family members or to yourself? Many times, it makes sense. I can’t afford a Bentley Continental GT convertible. Nor am I in the market for one of the most expensive houses on Miami Beach. Although a girl can certainly dream! Maybe it’s time for me to look into investing for beginners as this seems to be the only way to make big money these days.
But there are absolutely two things I can and must invest in — me and my business.
I learned very early on, when I devoted myself full time to build my business, Key Dynamics Coaching and Consulting, that I would have to look beyond my local market if I wanted to succeed. That required a strategic investment in my business — social media training with Kim Garst and a comprehensive inbound marketing component through HubSpot.
Could I afford it? My bank balance squealed, “No!” I would have to dip into my retirement savings in order to make these investments. The prospect of this always scared me; I’ve always been taught that savings are everything and without them, you can so easily fall into financial ruin. Yes, there are solutions when it comes to recovering from something like bankruptcy, for example you can click here to see which credit cards you can still apply for without a credit history, but it’s a situation I’d like to avoid if possible. However, when it comes to business you simply cannot avoid risky investments and I knew that’s what they were — investments. In myself and in my business. So I gritted my teeth and did it.
They turned out to be wise choices. Since taking my social media training, I have built a solid, online presence on three platforms. My website visits have gone from 34 to 13,190 in two years, as shown in the chart below.
Am I where I want to be? Have I achieved intergalactic domination yet? No. But I am a hell of a lot closer than I was two years ago — and that’s because I decided to make two crucial investments that I initially told myself I couldn’t afford.
I see the same tendency in people who say, in knee-jerk fashion, that they cannot afford to make an investment in themselves. They can’t afford to learn new skills that would allow them to become stronger, more self-sufficient, more self-confident, more “worthy” in their own eyes and in the eyes of others.
To these people, I say:
How much are you worth to yourself?
You can put a dollar figure on it. It’s pretty simple — figure out how much you want to make, then divide it by the number of hours you want to work. That’s how much you’re worth, from a monetary standpoint. But honestly, you’re probably underestimating that, especially if you’re a woman. Add 30% and you’ll be closer to the actual figure.
If you’re in business for yourself, the commonly used calculation is to multiply that hourly rate by three — one third for you, one third for overhead like taxes and equipment and one third to build your business through marketing, public relations and so on.
But there is more to “how much am I worth” than what’s on a bank statement.
There is the sense of worth that comes from knowing you have intrinsic value as a human being who has much to offer the world. If you stepped back and took stock of all the things you’ve done, all the things you’ve learned, you would be amazed at the value you do have.
The “I can’t afford it” mindset is self-limiting. If you don’t value who you are now, you will never get more of what you want, because you don’t think you deserve it. If you’re not confident in you, your abilities and skills, there is no way you’re going to be able to negotiate a higher salary. There is no way that you’ll be able to get a better job. There is no way you’re going to be able to stop people from pushing you around, wiping their feet on you and getting you to do what they want you to do, as opposed to what is good and right for yourself.
The same people who say they can’t afford to invest in themselves still manage to buy a skinny latte every day on their way to work. They can certainly find the money for a $20 lunch a couple times a month or splurge on dinner out at a fancy restaurant.
It’s not so much a lack of funds as it is a lack of belief that they are worth investing in themselves even if they have to go back to investing 101 and start from the beginning. Until they learn that, they will never reach the level of success — whatever that means to them — that they are capable of achieving.
What about you? How have you invested in yourself lately? I’d love to hear! Please leave your comments below.