The beginning of January is just too tempting isn’t it? All those special offers. All those marketing deals which will only last for the next 24 hours so you simply have to decide right now, on the spot, to buy them.
Buy. Buy. Buy.
We’re all being inundated with reasons not to miss out on the latest software, the latest membership sites, the latest courses.
I’m a huge advocate of education – especially marketing education. Don’t get me wrong. Understanding how to market, learning how to put theory into practice, and automating your business are key to your success.
But there’s a limit – both in terms of how much education you can absorb and put into action, and how much you should invest in your education.
If you’ve got endless time on your hands, or a fountain of cash reserves, go ahead and carry on with your buying spree.
But if you’re like most of us, you’re probably working as much in your business as you are on your business and you’re keeping a keen eye on your cash flow.
You need to find the right balance.
Here are some of the criteria I use when I’m thinking about buying anything for my business.
- Do I need it or just want it?
- Will I have time to learn what I need to know about it?
- Will I use it now?
- Do I already own something similar?
- Can I afford it?
- Will it still be available later if I delay buying it?
- What might be the consequences of buying it?
- What might be the consequences of not buying it?
I’m looking for products and services which will either save me time or make me money. It’s as simple at that. I need to see the benefit for my business.
I don’t need to have the latest bells and whistles either. In fact, I actively search for older models, older software versions and more basic products. The slightly older versions are often up to 90% cheaper to buy. Worth it when you consider that most people, especially when it comes to software, don’t use all the advanced features anyway.
Would I like the latest, shiniest versions – absolutely. But I don’t need them as much as I need solid cash flow.
… nor do you. So put your wallet away and go back to work.
Let me know below about educational resources/products which won’t break the bank and which you think are definitely worth the investment for small businesses – and why, below. It has to be something that you own and use regularly and that you wouldn’t be without. No affiliate links please.
Thank you for such a sensible and down-to-earth post Debbie.
I’m going to print it out and put it on my office wall to remind me every time I consider purchasing something.
Purchases I’ve made that I wouldn’t be without as they are too valuable for me and my business are:
Earn 1k a Day: resources, networking and opportunites. It was 5 Bucks a Day that began my online journey 1st January 2012.
Barbara Ling’s Email Mastermind (now known as BIOSphere): education, networking, amazing friendships as well as clients and jv partners.
Feedback on Tap: your very own mastermind. Just joined because I know that the feedback, help and support you and the members will give more for my fledgling business will be invaluable in helping me to achieve greater success in 2013.
The above three are without doubt priceless investments in myself and my business; worth every penny!
This is a wonderful post. I am ready to pull my beautiful red hair out with all the offers. 🙂 ENOUGH!
The only things I bought this year were things I needed (but also wanted) anyway and took advantage of the discount prices. Everything I bought I have a use for and should be using in 2014.
I made a list one day of some of the things I bought. I was appalled and it put a curb on my spending as well, I got to the point where I was on overload and I knew if I signed up for anything more I would not do it, I just could not do it. So I walked away. I’m still in that mode!
My mind is frazzled so can’t think of anything to suggest right now. Sorry! Just wanted to thank you for all you do.
Debbie, Just found this and immediately printed it out for a checklist on any shiny new objects coming my way.
I always seem to “need it” and I can usually “afford it” BUT my downfall is “will I use it now”. I seem to think so at the time but looking over my cyber closet I see all the objects sitting there collecting cyber dust so clearly my intention is lacking.
Now maybe this will put things in better prospective for me….
Thanks so much and wishing you the best!