How do I know how much to invest in myself?
As founders and freelancers we are constantly faced with opportunities to invest in support, self-development and education. Whether it is deciding to hire a personal trainer or join a membership, whether to employ a cleaner or study for a qualification or trade certification, my system to decide whether to go for it is roughly the same.
1: Get clear on EXACTLY what you expect the investment to give you, e.g. 3 hours a week and a clean house or better physical and mental health from exercise or support from an online community of peers. And ask yourself, is this the thing that will make the most difference to you right now?
2: Ask yourself: Are you sure that this is the right time for you to undertake this? Check that you aren't being rushed into a decision by marketing e.g. 2 spots left (there may or may not be two spots left but that is nothing to do with whether you can afford this and it’s the right thing to do right now).
3: Take a pen and an envelope and run a financial health check of your business, look at the amount you are planning to spend. Have you had at least that much money spare in the business lately? Do you expect to have that much left as clear profit next month?
4: Can you talk to anyone who has paid for this service / course / qualification who can tell you what it was like to reassure you it's what you're looking for?
With 4 YESes you have a green light, less than that proceed with caution.
NB: I have never heard of anyone putting stuff like this on a credit card and them saying it was worth it afterwards. Whatever service or information or qualification you are buying there are always different ways to access it which are cheaper or free.
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