ENTREPRENEURS

Growing Your Dream Into a Business

Jenna Kutcher 

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September 22, 2017

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So you have a dream… but how the heck do you turn that dream into a profitable business? It’s easy to look at another’s success and assume they got there overnight or that it was an easy road for them. You may be thinking “well of course it’s easy for her, she can afford the best designer for her website” or “of course you can make a big impact when you have a team of that size backing you up”. But the truth is, we all start somewhere (and usually that somewhere is a confusing, messy, passionate place…. So if you’re there, welcome, you’re about to make waves!)

When I was just starting out, we had very little (let’s be honest, we were newlyweds eating Ramen noodles) and I was constantly faced with the hard decision on where to invest to make this little dream into a reality. Should I get the new logo?  A new lens? Should I upgrade my blog? Pay for advertising? As a new entrepreneur it was impossible to know what would yield the greatest returns and what was a need versus a simple want. Nowadays, entrepreneurs are bombarded with so much information, so much content on the steps to take that it can feel even more overwhelming jumping into the entrepreneurial pond.

Instead of giving you yet another list of things to do to get your business off the ground, today I’m giving you some questions to help gauge your best next step for your specific situation to make that side hustle a reality. Let’s be honest, some of them aren’t easy, so take your time and ask ‘em… even when you are tempted to skip it!

Is it necessary? 

Really be honest with yourself here if this is a need or a want. Did I want the newest and greatest camera gear? Sure. But was I already producing beautiful images my clients loved with the gear I currently owned? Yes. Would anyone but me (and maybe other photographers) notice the difference with an upgrade? No.

Will this impact my bottom line?

Which brings me to the next question. Will making this investment bring more money into the business as a result? Even if it’s not directly, make sure what you are investing in is making your business more profitable whether it’s a team member to outsource tasks to so you can work on a new project that will be another revenue source or a sponsorship that will generate new leads.

Am I prepared to track my return on this investment?

Guys, I’m going to go Shark Tank on you: know your numbers. This is the only way you’re going to be able to intelligently make decisions like these. Are you wanting to invest in a social media course? Well, how much traffic is currently being sent to your site from social media? Track the increase in traffic after the course and measure how many people are converting to paying clients. This is the only way to know if a business investment you are making is a sound one.

Over the last year I’ve never spent as much money as I am now BUT I’ve learned that in order to run a successful business, you HAVE to spend money to make money. Now, I’m not telling you to go out and pretend each day is Christmas and buy yourself #allthethings BUT you have to start acting like a CEO and making decisions that will help you in the long term. From hiring a team to investing in things like Facebook ads, everyday I am spending money with the knowledge that those skills I am outsourcing are moving the bottom line, with those ad dollars converting into new leads and clients and that these decisions are necessary to take my business to the next level.

Am I taking advantage of allll the perks?

Most people know that we are entirely debt free, it’s something we have strived for and worked hard towards in our lives. That being said, I’m not a girl to shy away from perks and if I’m going to be spending money on my business, you better believe I’m going go with a company that understands what it’s like to grow a business and  get alllll the perks I can with it. As an American Express cardholder I enjoy 2x the points for every dollar spent with the American Express Blue Business  Plus credit card. Travel rewards (girlfriend needs a vacation!) 0% interest for the first 15 months, no annual fee and partnerships with Uber and Expedia – um, yas. Finding a card that has the best perks as an entrepreneur can make a giant difference and let’s be honest, we could all use a little help moving our businesses forward towards our long-term vision and in the process “treat yo’ self” more often.

Wherever you are  in “dream up” or “start up” phase, these questions will help you know where to invest and what’s worthy of your investment. At the end of the day it’s about being clear about your mission and knowing what will move the needle to most! While you’re on that “overnight success” track (which really looks like a windy, windy road that takes years) know that you aren’t alone and there are many who have helped pave the way before you. You’ve got this, you dream chaser, you!

Thank you American Express for sponsoring this post.

 

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A small town Minnesota photographer, podcaster, educator and puppy rescuer, my happiest days are spent behind my computer screen sharing my secrets with the world. I'm glad you're here.

I’m an expert at online marketing, a nerd when it comes to the numbers, and my obsession is teaching others how to make a living doing what they love (without it taking over their life). 

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