Why It Pays to be Frugal in Life but Never in Business

If you know me, you know I’m fairly frugal. I don’t go clubbing, spend my time shopping, eat in expensive restaurants, or get takeaway very often.

However I do spend my money on a new car and Apple MacBook every 6 years or so. That’s not exactly that traditional picture of frugality. But go with me.

The truth of the matter is that I’ve never been shy about investing in my business. When I first got involved in online marketing, I invested $40,000 of my life savings into training, mentoring and getting fully positioned with a company.

It was scary and I regretted it for a minute or two in those early days. But I always knew that it had to be done that I had to make the ultimate investment in myself, my business and my future if I was going to live the life I knew was within my reach.

Investing in My Business, NOT My Next Hair Colouring …

Financial Advisor - Investment ProductsNow, looking back, I’m positive it was the right decision – that it was the only decision. I’ve kept that investment-first mentality since day one.

But for me, personally? Frugal, frugal, frugal.

Often I go out of my way to find a gas station that costs less per litre. On more than a few occasions, I went so far as to dying and cutting my own hair. I still do it sometimes because I admit that I hate spending money on my hair.

When I stayed in hotels, I’d always opt for the cheapest option available. Then I washed my own clothes in the bathtub or sink. If I could save a dollar I would, happily.

I attribute a lot of this frugality to my parents and my upbringing. I’m the eldest of two, and we grew up on acres with a large number of animals. That came with lots of chores.

From a very young age, my parents taught us the value of hard work and being responsible with our resources and our savings. These were some of the most valuable lessons I’ve ever learned and lessons I’m confident carry with me forever.

Embrace the Spend and the Success

Stop Money From Slipping Through Your Fingers

So back to you and what all of this means as you’re building your business…

My Advice is Simple: Spend Money.

Embrace that you’re spending money. I see too many Entrepreneurs who are too attached to their cash reserves when they first start out. I get it—they’re most likely frugal or just plain risk-averse, which keeps them taking chances. The reality? That mentality holds people back.

In the beginning, I was incredibly frugal, but when it came to investing in my business, I opened my wallet right up. I didn’t think twice about spending.

I wouldn’t spend extra for a professional hair cut and colour, but I’d spend $4,000 without batting an eye. Because you’re reading this article, I know you’ve properly already invested quite a bit in your business.

That’s great. I hope you’re digging in and learning, growing and evolving your mindset and your business best practices so you can gain that critical edge.

But the truth is, I can teach you everything there is to know about Facebook PPC, Email Marketing, etc. We are here to help you, let us guide you through building your Online Business – Just Private Message Us at our Facebook Messenger link.

But if you don’t go out, spend the money and do it, it doesn’t matter.

You’re going to have all of these great concepts and theories swirling around in your brain but nothing to show for it. The money comes when you invest and flip that switch. And it doesn’t come a moment before that.

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And when you DO start investing in your business! Be patient. If you spend $1,000 on advertising and only make $100 back don’t panic.It’s money well spent if you learn and grow from the experience.

Decision Making Style & ProcessIf you can look at that traffic and those conversions. And see what worked and what didn’t. You can then improve your next campaign and make more money on round two.

Keep repeating that pattern, and soon enough, you’ll have high-performing, high-converting campaigns campaigns that catapult your business forward.

So, in short, shake off your money fears and concerns about letting go of whatever cash you have on hand.

Whether it’s $100 or $1,000 or $100,000, be open to rolling the dice and possibly losing a little or a lot. It’s par for the course. You need to test drive what you’re learning and you need to gain the valuable lessons that will drive your business ahead.

Remind yourself over and over that, as long as you learned something, it was money well spent. That’s how I look at it, and that’s how I’ve looked, at it from day one.

That’s helped get Easy Online Biz Solutions to where it is today, and where it will be in the future.

Talk Soon,
Nicky Cane

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