Is it true that you need to spend money in order to make money? Are you waiting for cash flow to succeed in your business? How far does financial invest take your work?
We are here to tell you that, although money is not going to hurt your business, spending it will not necessarily ensure its success.
In this episode, we traverse the idea of how and when you can spend money as an entrepreneur and when it might not even be necessary at all.
Money Isn’t Magic
Here at Fizzle, we often talk about these ins and outs, but it’s a great reminder to take the focus away from the money that can and must be spent, and keep everything in perspective.
We also talk about over-reliance on strategy, money philosophies and staying trained on why you started your business in the first place.
We look at websites, design, copywriting and advertising and the team give their opinions across the board on how to answer the questions that these areas raise.
So jump right in with us as we break down how and when you should put money into your business, so that you get the most out!
“This advice that you have to spend money to make money, it isn’t a one stop solution for every single business problem.” — @Fizzle
Key Points From This Episode:
- The questions that arise for new business owners. [0:04:24.3]
- Different kinds of business models and how this relates to the necessary money. [0:07:02.3]
- The real challenge of starting and running a business. [0:11:41.2]
- Over-reliance on strategy and the truth about money philosophy. [0:13:51.3]
- Maintaining the joy of the business alongside marketing. [0:19:41.2]
- Getting out of the rat race and off of the hamster wheel. [0:21:30.2]
- Why passive income is often not completely passive. [0:26:31.8]
- Figuring out the definition of what a comfortable life is for you. [0:29:51.2]
- Getting over the fear of failure and the pursuit of perfection. [0:32:39.6]
- Spending money on building a website. [0:33:49.2]
- Why design doesn’t matter as much as you think it does. [0:40:27.1]
- The power and weaknesses of copywriting. [0:44:25.6]
- Weighing the value of Facebook Ads as a business tool. [0:49:13.9]
- Useful resources for deciding when and where to spend money. [0:51:59.9]
Links Mentioned in Today’s Episode:
Learn how to set goals that actually stick!
The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil’ guide. Get the 10 Most Common Mistakes in Starting an Online Business here »