« The Goal Digger Podcast

253: If I Had $5,000 to Launch My Biz Here's What I'd Do

2019-05-01 | 🔗

A few weeks ago, I was standing on a balcony in Puerto Rico… The sun was setting, I was staring down at the beach, holding a glass of champagne and I had a moment. One of those moments when time freezes and you see this sort of highlight reel of a part of your life. For me, it was this flashback to when I started this whole thing and here I was in this reality that was a total *pinch me* moment.

I came back to earth when a photographer walked up to me and I asked him what lens he was shooting on. Our conversation took off and he asked me ONE question that inspired this whole episode. He said, “If you had $5,000 and had to start all over again, where would you spend it and what would you do?” Wow.

My free strategies to get started, places to save a little cash while growing, and the most important investments… I’m sharing what I’d do with a blank slate, $5K and the knowledge I have now. Listen in right now.

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
You're listening to the gold digger podcast episode number two hundred and fifty three fuel, to I was standing on a balcony importer ego, not a bad wages. Heard episode right. The sun was setting in our staring down at the beach holding a glass of champagne, and I just had a moment like one of those moments, time just freezes- and you see this sort of highlight real of a part of your life and for me it was a flash back to when I started this whole thing. Here I was in this reality that was entirely a total pinch. Me moment, I came back to earth when Photographer walked up to me and I asked him what lens he was shooting on or conversely, he began and took off any Smee one question that inspired this entire episode. He said if you five thousand dollars and had to start all over again. Where would you spend it What would you do and what we do not do. Today's episode
is dedicated to walking through how I would launch all over again start this supernatural journey, if today was square wine, let's do this your listening to the gold digger podcast, where we firmly believe that work doesn't have to feel like work self. Made millionaire and marketing guru, Jenna Kutcher will help you redefine what success looks like it's time to hear from the exports, listen in on onest conversations and learn the best tips and tricks that helped others pay their own way and craft their dream career. If you're ready to dig in do the work and tackle your biggest goals, you're in the right place. Here's your host educator, photographer and Makin cheese lover, Jenna Culture, thanks D, audible for supporting gold, digger start listening with a thirty day trial and your first audio books, plus two. A boy originals are free. When you had
you audible, dotcom, slash, gold, digger or text gold digger. Two five hundred five hundred Things just worry worth for supporting the gold digger podcast story worth is rate mother's day gift and makes its super easy and fun to share family stories. They even email you story prompts every week, Twenty dollars off when you subscribe, add story worth dot com, slash, gold, digger, ok, when I think about starting over like if all this disappeared, and I sat back where I was, and our two bedroom apartment, that felt like a palace working late into every night. Oh my dreams hoarding every spare dollar from my fifty five care, your salary job and putting every penny into this business when, when I think of all of That is what I would do if I were to start over there is this like spark inside of me. Because why did a lot of things right? Thank goodness for that I also myself a law along the way I wasted a lot of time.
I'm in money and I turns out or definitely wrong ones, something about a fresh start ages. It excites me it day. For all intents and purposes, I M pretending that I am back at the very beginning. So maybe you're thinking of starting a business or maybe your pivoting and adding a new product or service or maybe you're just curious. Here where I would invest today. I'm betting that The excitement of wherever you are also comes with anxiety and uncertainty about what things are actually going to cost you and where are you should be putting your hard earned dollars when it comes to starting and growing and scaling your business, not only have to worry about making your ideas, successful and profitable, but there A lot of start up cause to consider in the process. Let's break this, all down and provide you with an idea of what things are going to cost you wear it smart- is to invest what you can do for free and
hope you get clear on where I think you should focus when it comes to your money and time. So, let's start with my favorite free label things. Can you start doing right now that aren't going to cost you a dime guess what I know you and maybe you're thinking or what be nice to have five thousand dollars to start this dream. So, let's start with free, because there the way to build your business for free right now, so that you can earn five thousand dollars that I'm gonna break down for you on exactly where I would put it so three, free strategies that you can employ now the first thing I'd like to do? If I were starting today is, I would start growing my email list, I know I'm abroad again record over. You probably want to smack me in the face for the first thing you need to do is build a list of people interested in hearing more about you and what you have to offer, and this is something that you can do and start for free two years ago,
when drew, was convinced to leave his ninety five job and wanted to start is online coaching and help business. We were at square, one like we were there and before are, we even bought a domain or created a logo. We start it growing his Emil list. This is proof that this is what I would to. If I were starting over like I don't know how I could get any more clear meanness I didn't even have his business named yet, but we created to free resources that people could get if they gave us their email address. We just sent them to a generic sign up warm link, we didn't have a website or a blog, and we made to free downloads using Microsoft. Word something you probably already have, and that was when we started his email list, literally All of the advice I'm giving you the show is what we did, because I learned that before you can do anything else, and I mean anything you want
make sure that people are interested enough in what you're going to be offering and its funding build up the hype and serve people. For you ever have anything to sell them in fact, dating its way more effective when you start shearing what your passion about you just start serving people before. You we're going to sell them like a thing that makes you a better salesperson when the time comes. Now mailed him as a totally free serve as that you can use to start building your email us at zero cost. You can always up braids to a more advanced system later. If needed, or once you get enough subscribers to make it worth it, but this is a free way to start in the beginning and the first step that I would take no you're, not entirely sure which direction you wanna go or if you want it has set out a few headlines or ideas creating free these two share your I shall end deserve your audience is the best way to start with rule we decided we were going to create two different freebies. So why noise,
a grocery shopping in food prep lest in the other one, was a week of homework. Odds are required zero equipment and then he put them both out to his audience we were able to see that is audience was far more interested in the nutrition sided things woods totally surprises and helped his craft, his business model around the nutrition side, and if we would have taken the time to I this out in advance, we probably would have built his into higher business around at homework shouts, and it probably would have flogged. So this step ended up saving as time in the long run, so yeah, while you want to start on the pretty stuff, the shiny things, a fun things. I would start with this free idea and test your concept where your offer begin sharing your passions with an email list I share. All about email. S like this is probably not the first time you heard me talk about them and they're all
over ever said? So a simple way to just find any resources if you want to get started, is go to cut your blog doc and then just in the little search bar typing, email, West and you're gonna see all kinds of things, I mean we ve broken down blog posts, episodes trainings, you name it. We are all about email is because I am wildly and weirdly passion about them, so that would be number one. The next thing I want for you to focus on and map out. Is this free thing because first on free and is figuring out, your client experience? What well that look like? I want for you to map out every single step that someone will have to take in order to hear you find you and then book you or pay you for what you're offers and here the deal a lot of times. We over complicate this process, especially when we are first, but when things out like our websites,
bring out our instrument feeds into you. Want this process to be seen was an easy, so think about it like this. If I were to tell a friend about you and what you do right now, what would they have to do in order to get in touch with you and book you now a lot of times, you want to start super simple: they It's for you on Instagram, free, and then you have this description of what you do in an email to contacts you within your bio again free and then you begin serving them could also include a u r l to a free. We, if you follow my first of advice so that they can get something for free in exchange and you could get their email address and if you can, start with the customer experience in mind your I'll, be setting yourself up for a workflow that works in also setting yourself up for clients that will be far more likely to refer you to others know the name.
This game is under promise an over deliver in every step and low income I did not always understand this when I think back to me, early days and one of the main things that I did wrong. It was that I believed creating a good experience, meant that I had to handcraft every no email, and I said hours in my inbox, instead of getting the word out and creating systems when you then take time and really think about the process of what the client experience will look like before you get in the way of actually having clients and taking care of them. You can craft thoughtful templates that you can use to respond inquiries quickly and thoroughly. You can answer questions before they come in and you can be hold up that client relationship. Now, let me just sell you like having templates does not mean that you don't care in fact a well planned. Thought out. Template is
far more likely to serve someone better than trying to answer emails on the fly from your phone at ten p m, and you can personalize each template. Taylor them to your clients, but I never really understood like if I sat down and wrote super thoughtful, intentional templates I just customize, em and tailored them to that client has probably gonna do away, better job than trying to create. This quote be spoke experience where I was writing each email by hand every single time. So I want for you too. I guess and kind of map out like in a dream world. If I were to get a client here is how much time I'm gonna be spending on each side. Here is which money I'm enemy spinning on each client. It's not only gonna help. You create a really cool experiences also probably going to save you time and money in the long run. Now, when you create your client experience, it's going to help build in word of mouth marketing. This is gonna, serve youth
are better than any amount of money you can spend on advertising checks episode number forty, two away back for more thoughts on creating an unforgettable client experience, here's the thing, clients they expect your service or your product. But what they don't expect is an experience that only you can offer them suspend some time here and map it all out like this is free, and it's going to help set you up for success. So let's talk about another thing. I did wrong in hopes. You can do it for right. And we're still on the free bandwagon. Ok, citizens. Not shy about telling you what I did wrong here is something that I did wrong and how you can avoid making that mistake without spending a penny, some good when eyes started, I approached everything from a scarcity mindset, as in I intentionally but myself on an island, and I coveted what I believed were mice What's that? No one else could steal them like I did in foster.
Create a community, because I was so afraid of being called out for being a fraud and says three. Years into my business. I realize well No one in my direct world even understands what I do. I dont have any real relationships with others who are chasing dreams in tandem with me, and I Did it really have a community leg? I was just as loan ranger bold in business believe Even I had secrets- and I wasn't share in anything that today I have frightens a lot of friends. Who would be considered direct competition we share each other on, because we hold confidence that there is an abundance out there. There is more than enough people who need what we ve got. And we can all succeed, ledges shifting mines that have talked about minds a lot on this podcast budgets, shifting that can do everything. So you want my third free TIM Creed
Community and establish relationships in your area and your industry for referrals. Don't ask people to go on coffee dates to pick someone's brain instead offer Ship just start cheering them on flight Did he ends with nothing but encouragement for years services, your gives to others without asking for anything in return. Seek our community things like the rising tide, society join Facebook groups like our gold, digger, podcast, insiders group Don't go this journey alone. It is so more fine, and you have people in your life who get what you do, who support you and who can share you on their can the community over competition, so fine, a few people, you trust and connect with them intentionally You should see the voice text, send my peers in this industry in the way that we keep in touch and help each other. I like it is invaluable to survive yourself with people who understand you who get the world that you're in
who also striving to make a bigger impact like it makes your life so much richer and it's free, ok, So now that we ve covered the top three things that I would do for free, which were starting email, is planned out. My client experience and start creating community. Let's talk about a few things that you shouldn't invested like you, should use all together, skip them right now. Because getting started, Gimme filled with paralyzing decisions and this desire to do everything perfect and right, and that can make you never launch, because your I was going to be waiting until you're, ready and trust me. I know the way you can drag your feet and never get your idea out there. So let me give you a list of things that you can put a halt to and just wait on lagoons weight on these things These were also focused on to do as, but how? But we do, I too don't list and free up a little bit theirs
many places that you can update or add onto later. In a rather see your dreams come to life than to have crossing items off one by one in waiting any longer trust me I understand the urge to hold onto this new project of yours and tell you got everything perfectly align. I mean it, your baby after on millennia- encourage you that you can always up great later and you don't need the most extravagant best every step of the way. Initially ITALY. So here are five places our ways to save money. While you focus I'm getting your new idea out there. These are things I either did or wish. I would have done when I was in the penny. Pinching stages of sorry, my business number one opt for free email, marketing service provider. Before going with this top of the line, one with all the bells and whistles you can upgrade later- and it's really easy to do so: So I'm really glad I did this. I started small. I followed my
advice and then once things were getting more complex and we are creating more content, that was when we upgraded ok number to opt for templates verses, stem work. This goes for in the areas of website design. Legal templates like purchase, templates, inventing that you are not inventing the wheel from scratch to go guinea to go customers about you guys. I didn't even have a custom website and I was five years into my business. It's me that long to invest a custom website before that ours is using templates. Ok templates are not bad, like pay little bit of money and he can go a long way, and then, when you have the floor to do so, you get that Bali custom website, but you don't need to start trust me. No. Cares about your website as much as you do. The next one is equipment. Consider getting used equipment
verses new, like It will do the job equipment, verses, habit, the line like our your client really going to know. The difference is really going to make that much of indifference and what you're offering I've got better. This is for you to invest your dollars. Now I purchased all of my camera gear use at first, like all of it for the first few years, and I saved really slowly and intentionally to build my gear to build up a collection of lenses over time I would watch for what I needed and buy and sell groups and on Craigslist, like you, can always upgrade after start earning money, but don't think that you have to have all the things in order to start. Ok now you can also consider are employing students hiring in turns to help in beginning versus hiring the experts. Think of things like low good design products photos like my first. Oh go was created by a graphic design student and I still alive it. They don't. Thank you,
to go out and higher the best of the best there are so many incredibly talented people out there just value their gift pay then, further time well, but don't think that you have to get the crime deal a crumb in order to get a good finished product and then lastly can- bitter sites like fibre or up work or ninety nine designs for freelance help when you need it like. I literally was on ninety nine designs today to get some work. And that we needed to do Quicken we couldn't handle internally. I have used them for things like creating my podcast intro, whipping up graphics on the fly. You name it. Done its quick and easy and usually far less expensive than hiring a contractor. So just consider sites like that, don't and you're above any of this, especially when you're starting out man. I still a lot of these tips, because that's how we on my business, we run very lean. So now, let's talk about where you should stand your money. Somebody
me yet to an end to this episode, because you want to hear the breakdown and I got it for you. So we ve covered three places to focus on that. Are free covered five ways to save money when making decisions then, and now and now we're under the good stuff. Now, let's walk through the? business start up costs what you should plan four and where I personally would be investing my money. If I were going to start all over again today that these are the most important things and are worthy of your time in your resources. So the first thing winning a space on line now before you free. Or see dollar signs. Let's keep things really simple here. Having apes to send people too on the world wide web is super important. It's almost like a billboard rear business and whilst starting on social media with a facebook, page or group or an instagram account. Those are logical. First stabs, yes, but it is important that
you own, a space on the web that you have control over the client experience. What do I by this Facebook and Mark Zuckerberg are in control of how people see your content, how they see your post, the order in which they see as seen with Instagram like the algorithm is cons, only changing A social media is an incredible and free to all that you should be utilizing. You don't wanna put off your eggs in one basket, especially one that you cannot control, you have a website or leaning page or even a blog, that you- can send people see you again outlined this, experience that could help guide them into making a purchasing decision. It can help them decipher, if you're the right fit or not, you can send me to a place that you have mentioned all over and guess what made you can create a page for free or Ex Souffre like if you start with a wordpress blog or you can go. The template rally,
get a site like squares space or go daddy or I use a program called show it like none of it his mentions are sponsored. I just want you to know where I would go if I were starting over now when I first started out afforded for website. So what I did it started. A free, Wordpress Blog and I hired a design student to make me a logo and a stir during my work through that I spent probably three hundred dollars total, so that was about two hundred fifty on the logo. Fifteen hours. On a domain, and maybe a few dollars on template that I was using an only had a blog for a few years, but it serves me well because I was still able to have pages like about me, page contact form and show up We're folio of sorts through my post. Now websites are a total start small work bag, part of your business,
then there are so many different free platforms that you can use to get started until you have the growth in your business. They will allow Oh you to afford a website that is beautiful and branded in Custom mother's day. It's coming up and do you have the perfect special, thoughtful gift idea? Here's an idea! Freedom tries worth purchasing subscription for someone you love like your mom and each Big story worthwhile send her an email with a question about her life. Then your mom reply I see the email with her story or Michigan recorded over the phone by calling the story worth number all stories, private and only shared with the family that you choose now after a year. The stories be bound into a beautiful hardcover book story, worth it such a unique way to connect with your family, because the questions might bring out special stories that you ve never even heard before. I virtues is absurd. Option for my mom and I love you bring her stories about her childhood and her parents and what she loved about school.
There are so many amazing questions that they ask her that I might never have thought to ask story what truly makes an incredible gift and the best part is it can even be purchased. Last minute twenty dollars off your subscription for mom or anyone you love when you subscribe. Story worth dot com, slash, gold, digger that story worth dotcom, Slash gold, digger, audible. Is where so many inspiring voices and compelling stories open listeners up to new experiences and new ways of thinking there is no better placed to listen If all members choose three titles every month, one audio books was to audible originals that you can hear anywhere else plus get daily free access to the New York Times a Wall Street Journal in the washing in both delivered right. You're up and You can get unlimited access to more than a hundred audio, guided fitness and meditation programmes just said who are you d, I b l e die
Calm, slash gold, digger or tax gold digger, two five hundred five hundred and you can browser unmatched selection of audio content. You probably won't bees prize year that have listened to a ton of personal development and business books with audible. Like my current listen rocket fuel, which is by GINO workmen and Mark, see winters someday I like to notes, while listen or I love to turn on an audio book wine in the car, to make my DR time feel extra productive start. Listening with us, thirty day trial and get your first audio book, plus two audible, originals free. When you had to audible, dot, com, slash, gold, digger or text G a ile de. I e g g are two five hundred five hundred. I also love templates that you can purchase wonder I'm an customize yourself like the ones that my friends at the tonic site shop. So now this can give. You and elevated design without paying for custom one on one work. You can check out their templates made by my
personal web designer agenda could your dot com tonic they are beautiful. They are easy to customize and over a few hundred dollars. You can create a beautiful website and you can build off of it over time, you essentially just want to have a page that you can send people do and let social media beer handshake, but your website will be the real opportunity to share what you do share, how it can impact someone else and make that sail now. The second place, I would be investing in is equipment, inventory and supplies now she's gonna look different based on this type of business you're running, but it's likely that this category will need to be on your startup list. Unless you run completely virtual business and even then is like we're going to need a computer or other equipment like save your starting upon gasters. Something similar where you'll needed national items like a microphone to run your business, but basically, I
just make a list of all the items that you have to purchase. And then it's important to label what is truly must have like you can start a photography business without a camera by you. Could started without having for different lenses. So what's the necessity here alive for you to be really honest about what you have to have in order to get your business started and then labour the rest of the items in terms of the level of importance now I was able to start my business without going into debt. By literally squealing away every extra hundred dollars. I could Every time I was paid, and I put away and bonus is towards my equipment. I put away tax revenues, which, God only knows we get those anymore, so it was, is very slow grow, but it works really well for me, so I won't You're really set goals on what you need, look at the costs and then you're out how you will save either putting all of your profits you're currently making into your best
or using your ninety five at your side, has also help fund your dreams like for me. I didn't go into debt for my best That was just a decision I made and so I had a look, I mean we were living or really simply. I had student loans. I was making fifty five care year. We paying for a wedding like there really was a lot of extra money, but we may need some life decisions at cut back said that we could be saving in hundred dollar increments, and that's how built my business you guys so. The next thing after equipment in supplies is making your business lead, kids now, this could be an entire episode in itself and obviously, a kind of her husband, If you had backed eugenic your blog darkened, Slash Christina, you can hear we talk to my personal attorney about making your business legal and legit, but you account for these visa that you aren't just starting a business but you're running a legal one. Why
These started these suck begged actually said, they will save you so many headaches and potential penalties or fees in the future. Then, if you huh you're someone like an account in their alike. We're going to save you money, so they can be worth their weight in gold by trust. You- and I say this- its tax? I am. I am so grateful. I have an amazing accounting team. Now, one of them this- is I ended up wasting money when I first started was Andy I didn't understand, like registering my business properly, I paid for it and I did wrong in the night to pay to undo it so true, these old. If I could go back, I would you start with finding an accountant and then paying the staff that you need to pay in order to make you a legit and legal look. At least set up these incorporation fees, insurance. Your business or new idea, legal is not the place to skip for the purpose of saving money. Let me tell you that you
and obtaining more money in the long run, if you aren't doing things right rate after get go. So just listen to me, set things up correctly from the beginning and you we respect yourself in your business. So much more like this is not a hobby. This is a business You care enough to set it up right. Trust me on allowing Kay the next thing I would invest in, and this is something I wish I could go back on and is a big legates one of the biggest things I want for you walk away hearing now. I know that I am an educator by man. My business was good before I sought out a mentor or paid for a course, but it really started to grow exponentially. When I started investing in my own personal development and education, I mean you are doing that right now by listening to this fight, So I already know that you're driven any want to learn. When you're starting off. It's really easy to have your grip, be really tie on your money. Like I get that, like I had
she's a spending money- and I really didn't understand the whole trade- your money for time thing now- I want for either refrain this site think about a real quick. Money is a renewable resource right leg you spend it you work and then your bank account replenish is every two weeks like you can earn more money. You can get more money, but does that happen with your time like? Can you earn back your time if you are just five in there's a day. Just googling things. Can you get back that five hours now? But if you spent fifty dollars to learn something that would save you five hours. Can you get back that money yeah? You can cause you're going Erna back as you rock right and so I want for you to look at your time in stone. I understand and really understand this- that you time wear something like it's worth a lot one of them. Guess mistakes I see is that new entrants
Yours are so tight fisted with their money, and I get it. I was there. I get it back. They waste so much time they could. We could just nip that a whole thing in the bud and equip you to understand the power of investing in your own growth and in learning from people who and get you results a faster hand, over citizens. Our work and save ii making mistakes and spending hours about hours, googling things, then it would be worth it right, because you'll have that much more time to invest in actually making money. I think that people forget but they invest in things like going to college, to learn his scaler trade and its rights. The easy to see the value in that right, but we don't get online education for a business is like that in some time like for me. It took me in versing into one programme and then getting crazy results that made that programme worth it I'm a million in all. To see that wow, like I can do that
as I can invite. My time is worth something, and I like laugh when think back to my early days as an entrepreneur, because I would look at my time in a very different way. So, let's see someone said: okay, two hundred dollars to do our family portraits. In my head, I would be like: oh my god, I only afterward. For an hour and I just me two hundred dollars now I was paying attention to the time it took me to prepare for the shoot the time it took me to get to the shoot the time it took me to back up the voters the time it took me to edit them and blood them and deliver them in emails. If I actually, broke down and when I finally did this and broke down all the hours eyes. Working on that quote. One hour shoot. I was making less than minimum wage like. That is how skewed. I was looking time and money in there's a good chance that that's probably what happening in your life or what could happen? I mean you're? Listen to this episode, you likely understand the power of hiring mentors to teach you and learning from people. Ahead of you, but if you know
put a dollar down on growing your knowledge. Then you might be dragging their feet on actually taking action knowledge alone is amazing, but it can't save. You, like you, need, Systems and road maps in step by step process is that you can adopt and implement. So, yes, you can get all the free education in the world, but if you're not actually taking action on it in investing in yourself, you are likely to never followed like you are likely to never do the work that it takes an truth, be told gear. If you buy my education or Jill Joe are Jonathan down the roads? I just Rita. See that when you invest in learning and when you can pay to play like when you get in there, and you say I'm in a pay- I'm gonna pay attention to make this work that that is going to scale you so much faster and easier. I mean think about it. Where could you sure cut your learning curve like why d you need to know in order to be the business person,
that you want to become. I wouldn't Did you to take step today to acquire the skills you need to set yourself up for success in the years to come? Look back to those first three years, and while I build something incredible, I waste did so much time and when I finally started investing and personal development and education through the form of courses and men, doors and retreats and workshops and all the things that was when I not only gained community, but I also gained the belief in what was possible for me to someone who residents with you choose someone who has given you value without asking for a penny like I wish they would have invested more into education at the beginning of my career, when I was floundering around in feeling entirely alone, when I was making mistakes and wasting time in doing so when I was scouring the web for resources and trying to be small, bland together. Trying to learn, the art of the dog, while putting my core business education to workers and entrepreneurs, I mean that
I gave you a picture of what life look like when I was getting started. Man I don't know what it is, but I surely believe that there are some really amazing educators out there. A lot who have been featured on this show in interviews who can help cut your life in curve half and give you the resources. You need to grow your business so that you can get back to what you love. Then my advice is scouring fine mentors. You trust your hands on all of their frequent. And consume. It all put it into work and tell you are ready to dive into a paid programme. Yes is one scary, but trust your got here. You will know when it's the right time the right offer in the right place. I promise. I know it's gonna feel scary, but you will know no. Here's how it helps to think about investing in programmes are education. Is I love to cost it out? So I ask myself like how much is an unclear business strategy and plan costing me like aware
Is my lack of web presence or equipment, keeping me from earning? What's the actual dollar like what am I losing out on whether its time or will dollars by not moving forward or learning something in it. All me with making investment decisions to write down a number that you really think about com Kinds of losing with this or how many hours it may wasting each day that aren't actually moving the needle and then I want to write down how much more could I make every year if I streamlined this system are process like how much work? I need to sell in order to make that investment worth it. I do this all the time whether its with things like honey book like I had to pay five hundred dollars, to get honey book I only need to book one session to pay that entire thing. Often, then, I could use it for the rest of my life like you know, you gotta, look at things like that, I don't think they have the one time by, and so I am sorry if that was confusing by That's how I make these decisions is, I want to
right these numbers down and I wanna out the environment like if it outweighs the. I say if I know I can earn back either more time or money, then it's a sound business investment. Otherwise it might not be the right time. However, you can make more than the costs of the course or mentorship by implementing the smarter business models, then its worthy, and so for you to really think. Like a c o like that, like I am giving you permission to invest. It is ok to invest. I highly courage and learning things faster and taking mentorship from those ahead of you so long skids the money break down, I want to take a closer peak. Five thousand dollars would buy me. What would this five thousand? I budget look like our estimates. Will we did our research and reach out to people who are just getting started out, and I wanted to deliver on my promise of what I mean spend five key on if I were starting today. So first, a website, that's about,
five hundred two thousand. If you get orally fancy for a template- or you could do every day using like a wordpress blog. I my sister she recently started a website. She spent four hundred and he six dollars exactly for a site a domain and a template that she customize so giving you five hundred thousand dollars is being really generous here. I know you can do it for us and I believe in you The next thing I had spent money on is logo and branding. So here I would either look for a designer that is at a lower price point or even going on to add, z and having someone has templates that you can kind of customize and make your own, but I would spend about two hundred to five hundred generously on getting a new logo and, like I said, like I hired a students to create my first logo and I love it. The next thing I would spend money on is templates, so I budgeted about three
one hundred dollars and I would, by email templates to help create workflows, I would buy pricing eyes. I would pay for graphics, maybe like templates, that I could use for Oh sir, I'm a website or on social media sides about three one hundred dollars, indifferent templates and it's going a different basis at your businesses. There are me kit templates. There are legal templates era contracts there all kinds of different templates but I gave you about three hundred to five hundred dollars, depending on what you spent on the last two, then set aside three hundred two thousand dollars for legal incorporation, insurance again based we're different business model like you can go into illegal zoom and create or else see or Ass Corp or whatever type of visits you're setting up today. It's not that expensive, but I want to give you a healthier budget you're so that you can hire and accountants to help you file everything's, that's a thousand
and then the last is education, and if I five thousand dollars to start off here's? What I would do I would spend you're gonna, be flabbergasted, twenty five hundred dollars, you are there, I it's been half of my budget in this category, because when I was starting out. I didn't know what to do a lot of things. I mean I didn't really not to do anything so if I could have paid people to teach me how to make business budget how'd, you grow and email list. How to who grow my web presence or I see oh, I mean there are so many things I don't even teach on that I've invested in to learn, and so I would spend half of that budget on education be cause? If you look at it, if you can start your business with this knowledge that is only going to compound like compound interest for each month
once you're in business for each year in business of the sooner. You know these things and how to make them work for you, the more money you're going to make in the faster you're going to make it. So let me break that down real quick. Do, thousand dollars, which I think you can do closer the five hundred side, Logan branding two hundred five hundred dollars templates? Three hundred five hundred dollars legal insurance. All that says three hundred thousand and education. Twenty five hundred dollars. So there you have a guy Is this is the exact road map I would follow if I was starting a business over and when I look at exactly we did withdrew when he started his visits. This is the model We followed like this. Is where I would invest my time and my energy don't forget the three free to start okay, so start email list about your client experience. What that's going to look like
start building your community. Don't forget about the things that you can put on the back burner for now that you can upgrade later start small work big arising in starts in buying get fancy later and then lastly, it like where you should invest only space on the web, make your presence known, have a plan that you can execute and get the knowledge to help you execute it fast stir and better so that you can get bigger results and make a bigger impact on this world man, I'm so there look I'm not starting over again today, but if I were this is my plan, and I sincerely hope that this episode of the gold digger podcast helps you I'd, love to know you so how about over to Instagram either at Jenna, Gooder, gold, digger, pod gas, and let us know you thought of this episode. It was really fond of it together and I would love to put together. More resources for those of you who are just beginning some. You, like this episode, make sure you are
Now, as we read every single combat, we create our content based off of your needs and your requests like some gold diggers, key binding your biggest goals and if you you are starting or growing or scaling your business get out there and do it stop dragging those feet all right, let's go Thanks for listening to the gold digger podcast dive into the show notes for this episode and all past episodes at W W W dad gold digger part cask dot com. If you love the show share it with a friend the more the merrier things
Transcript generated on 2020-04-26.