Investing In Yourself And Your Business
This week I sat down and recorded a whole podcast episode with Kirsten/@tampawaxer about investing in yourself and your business because it is such an important thing to talk about. We both own our businesses, talk directly with our audience and customers, and have both struggled with that balance of business vs self.
I know this is mostly a business blog, but I am a firm believer in getting your personal affairs in order before you even consider investing into your business.
When considering a big investment in your beauty business like launching a product, opening a new space or upgrading, you want to sit down and make a plan first. And honestly- check your bank account first. Are you willing to create something out of thin air? Take out loans, borrow money or are you prepared to pull money from your personal savings to invest in your business? These are scary thoughts and generally touchy topics but it's ok to sit and think through them, and it's important that we as business owners talk about them. When I first started my business I had little-to-no savings, so that was never an option for me. The only way I could bootstrap my business was by slowly saving up. I worked my full-time job (lashing at a chain salon) to fund my side-hustle and eventually the side-hustle became something I could live off of. So many people talk about how investing in your business will allow it to evolve and develop, but moving slowly and being practical at times was a better decision for me rather than betting it all. In certain situations it might make more sense to go all in right away, or it might make sense to work slow and steady. This is why it's so important to sit down, take a hard look at where you are, and be strategic about your money moves.
It's also so important for us as beauty professionals to remember that investing in yourself personally is equally vital to your business. Educating yourself, reading books, taking courses, etc. are all costs- but will keep your mind stimulated and your ideas fresh. Being on top of everything and coming up with new ideas constantly as a solo professional can be really draining, so it's important to be sure that you are taking the time to continue learning and taking advantage of as many resources as you can. Consider this a tool for your business, something you can lean on, rather than an added cost that you dread, and know that it is so important for personal AND professional growth.
Give this week's podcast a listen here. Kristen and I talk a lot about this topic and share our best advice for investing in yourself as well as your business. Be sure to leave a review, and let me know in the comments below what ways you're investing in yourself and your business this year!
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