#81 Where Should I Invest My Money to Grow My Jewelry Business?
There are three things in life. The things you know, the things you don’t know, and the things you don’t know you don’t know.
That last one can get you into serious trouble! It was also me about 7 years ago when my first business failed and I started over with and launched a new business, my custom jewelry brand.. Trembling, terrified and pretty much hiding under a rock was how you could describe me at the time. I was chartering territory I had never covered before. I knew that my new business model was going to be very different and that leveraging my online presence was best way to reach my DREAM clients.
The Problem: I just didn’t know how to do it. Only about 5% of my sales were direct to consumer at the time and the only people who purchased on my website were the customers who already knew me. That’s great. I wanted to keep those people, but I also knew that if I wanted to grow and sustain my business, I needed some fresh blood. Luckily, an email showed up in my inbox from a friend about a program that changed my life (I’ll tell you more about it a little later).
If you’re anything like I was back then, there are a bunch of questions buzzing around in your brain when it comes to improving your business. You’ve made some money already (yay!), but now you’re wondering what’s the best thing to do with it. In today’s show I’m excited to share with you how I invest in my business today and where I wish I had spent money early on! This episode is going to be super awesome because we just finished up our Jewelry Brand Makeover Bootcamp and I know a lot of you had questions about this!
So let’s dive in!
Click here to download the show notes
Learn From the Pros
Since B School, my business changed drastically. It was a big investment, but I finally understood how I could build a sustainable income without working 24/7. Opening your eyes to new concepts that you can readily apply to your business is a great place to start investing your money. Why feel your way around in the dark when you can have the support and leadership of someone who has been there and crushed that?!
Get Out of Your Maker-Mindset
Being the Chief Visionary Officer of your business requires you to feel in control. Worrying about paying rent is a pretty easy way to feel powerless. Pay yourself a reasonable salary so you can feel confident in your business. It will give you the motivation to show up on a live stream or spend a whole day writing emails to send to your list.
Set Yourself up to Delegate
You don’t have to be the only person in your business, even if you aren’t making $1 million. Make your life easier by offloading some of the work you don’t enjoy or that’s repetitive. Things like posting on social media, setting up systems, and bookkeeping are good places to start.
When you’re a creative, it’s tough to keep things organized, so capitalize on hiring people who fill your gaps! One thing I want to make clear is that you should never feel like taking a course means you don’t know what you are doing. It’s actually the opposite. Every successful person I know continues to invest in their education, no matter their level of success, it’s part of who they are.
Being a lifelong learner is probably one of the best ways to make sure you build a business that thrives! Remember that email I mentioned earlier in the post? Yeah, well that email was about a program called B-School. TBH, my boyfriend at the time thought I was nuts for signing up.
Guess who’s still struggling with his online business? Not me.. Despite my former BF’s disapproval, I knew in my gut that this program was going to help me prosper in business. Yep, after taking the program, my business has become so profitable that I can work part-time on it whilst still generating multiple 6-figures in revenue every year. I think we’d all like a business like that right? I am such a firm believer in the power of B-School that I’m a really proud promotional partner. Marie changed my life and I know she’ll change yours, as well.
B-School Opens for Enrollment on Wednesday, February 22nd and closes March 2nd.
Learn how you can leverage the power of the internet to grow your Jewelry Business Now>> And Yes! I am a giver so I have some amazing bonuses that I’ll be offering for B-School this year.
You can check out Tracy’s B-School Bonuses right here>> And if it’s not for you, totally cool. I still love you anyway! xo, Tracy
Links Marie Forleo’s B-School (opens up for enrollment 2/22/17)
Click here to see tips on how to start your business.