Have you ever asked this question? Maybe you’ve been at this business game for a while, but you know you haven’t reached that ultimate level of success. You might have a decent business, but you know it could be fabulous. Or, maybe you’re completely new to the world of running your own event planning business and you have no idea what steps to take to really get this baby off the ground and running smoothly. No matter which category you find yourself in there is one big question that will eventually come to your mind: When is the right time to invest in this business?
Here’s the thing: There is truth to the statement that if you want others to invest in your business, you’ve got to invest in yourself. That being said, I know it can be scary to go all in and put out some cash to catapult your dreams. Since I love my empire of event planners (that’s you!) I decided to put together a list of the situations where it makes sense for you to start investing in your business. So, without further adieu, here they are:
When you’re currently booking clients but you don’t have a solid plan in place – If you’re already working in your business, but don’t feel very boss like because you have no plan in place, it might be the right time to invest. Maybe you need help getting your systems set up, understanding the process of running a business, or need help dealing with client issues. Investing at this stage can mean getting help for things like accounting or customer service, or finding a mentorship program that can help you kick it up a notch. Investing is a big decision, but at this stage not investing can also be costly. When you’re booking clients and starting to make this event planning dream a reality, there is so much you need to know in order to make the right decisions for your clients and your business. That’s why I always recommend that if you find yourself running around like a crazy bridezilla as you run your own biz it might be time to get some help!
When you’re just starting out and are confused about how to run a business – If you are new to the idea of running a business here’s something you need to know: You will be making a big investment at the start of your business. Now, what you invest is your choice. If you don’t want to spend money, you will be spending crazy amounts of time figuring this stuff out. When I was first starting out, I didn’t have a mentor who could help me figure out the right decisions to make, so I ended up making a few wrong ones. (Talk about costly!) If you can swing the investment, having someone by your side to guide you along the way as you start your business is truly a priceless benefit!
When you’ve reached a plateau and need help getting to the next level – If you’ve reached a plateau it may feel like you’re going nowhere (hence why it’s called a plateau, right?) Here’s the thing: you can always go up in your business. There is always a next step to take and a better level you can reach. The challenge is finding the way. The more experienced you are, the more you need to make the right investments to get to that next level. One of the best investments you can make at this level is to find someone who is where you want to be and work with them to get there.
When it feels right – Do you feel like now is the right time to invest in your business? There’s something to be said for trusting your intuition and going with what feels right. Choosing to invest is a very personal decision, so if you feel like it’s the right choice for you, then trust yourself and go for it!
Are you looking for the right investment for your event planning biz? It just so happens that The B Academy is open for enrollment and kicking off at the beginning of 2017 (and if you get in now you can get our early bird special pricing!) No matter what stage of your business you’re currently in, The B Academy can help you get unstuck, moving forward, and upleveling like crazy. You can build the business of your dreams if you take the right steps to get there! Want to learn more? Yes! Tell me more about The B Academy!