When to not spend money on your brand

Once you decide you're ready to create a personal brand, something to help you get your message and gifts out to the world and put your name - your face! - right smack on it, well, there will be a million ways to very quickly spend your money. 

I'm not telling you to be cheap. I'm advising you to be super clear on what you're looking for. 

Here's a confession that makes me cringe, especially thinking about the ways I could have used this money to help people, or given it to my family, or just done something else: I've spent at least $15,000 on "business investments" I didn't really need.

here are a few tips:

You have no budget - It's cool to spend money, but outline exactly how you're going to spend your money from the beginning. A plan to follow. Otherwise things creep in, and can get impulsive. You may even feel out of control.

You have no clear ROI - What you spend your money on might not have any ROI attached to it. But if that's the case, be sure you're good with it. Be intentional with how you spend, and be clear with what you'd like to get out of your purchases. 

You're frustrated because everything feels too slow, and you think spending money might help - you can't throw money at your problem. Personal branding just doesn't work like that. 

You don't have the money to spend - this one I'm big on, although I know a few woo woo coaches say "have faith! Take the leap and invest in YOU!" I dig that, but that doesn't work for me. When I spend money I shouldn't, because I can't really afford something, I become stressed, anxious and desperate. Never good.

You're still fuzzy on your brand goals - are you here to make money? And if so, how much? How? Or are you just about Self expression? Is this your art? do you want to teach people, and you have other revenue-generating gigs? Or maybe it's your online business card, something you use when networking to showcase your portfolio of work? 

Being clear will help you also be clear on what makes sense to spend on. 

 

I'd say I've blown through at least $15,000, conservatively speaking, on "business investments" I didn't really need.