"BUT, I CAN’T AFFORD IT!"
This is the real reason poor people remain poor, because they use this one single statement as an excuse for not taking action.
There are two questions this statement should swiftly be replaced with:
1. Can I afford NOT to do X?
2. How can I find a way to do X?
The truth is:
None of these offer ROI.
You’ll try side hustles, dreams of get rich quick schemes, MLM, working from home, passive income...
...everything you possibly can to avoid MASTERY in your business.
And I don’t mean sales, marketing, systems, networking, social media, websites or any of that stuff.
Your business is the best investment vehicle going that is guaranteed to give you a positive ROI.
There are two fundamental reasons why you can’t afford the things you want to invest in:
“Turnover is vanity, profit is sanity, cash is king.”
Most people thing turnover is all about getting more clients. I can guarantee if you’re reading this you have clients and opportunities. Therefore it’s not a marketing problem it’s about optimising you’re pricing and maximising the opportunities already heading your way.
Profit...like Parkinson’s Law for time, we spend everything we get. Our personal economics eat into whatever we earn. So overheads always track turnover. Then one or two bad months come along and wipe out any progress we made.
Like 95% people I know, it’s likely you’ve got no cash reserves.
Which is interesting, isn’t it?
How often have you heard people say, “I’ve got a cashflow problem!”
I bet money is flowing in...
...and it flows straight back out again!!
So cash is flowing alright.
The issue isn’t cashflow.
The real problem is about MAKING MONEY and then KEEPING HOLD OF IT.
You’ve likely spent your money on a ton of stuff that hasn’t yielded you a return at all.
My wife is convinced our house is raising equity with all the home improvements but by the time you take interest into account we’ve lost a ton of money! Property means nothing until you own the entire asset.
You trick yourselves into thinking you’re making good decisions, when all the time you cannot see the consequences of your actions (or inactions) further down the line.
And for some reason you are treating investing in your business as a risky investment.
It’s YOUR business!
It’s down to you whether that investment works out or not.
“I can’t afford it!” Is what got you here in the first place.
When times are hard you can rely on, “I can’t afford it!” to give you an easy way out.
But it’s not an easy way out is it?
It means you get to stay exactly where you are.
The struggle. The lack of cash in the bank. The lack of action. Not being able to spend the money on people who actually know what they’re doing.
And this will blow your mind.
One thing which makes me sick to my stomach in business (and trust me, I know because I was this guy, and it made me sick when I worked it out):
If someone offered to invest £100k into your business right now, would you take it?
If they stipulated that you had to take out a £20k loan first to guarantee it, would you do it!
And what if it wasn’t £20k but it was £100k?
Most business owners would struggle with £20k - I couldn’t possibly borrow that amount of money for my business, I wanted to grow it without debt, how can I repay it? Etc etc.
The excuses come out.
Yet it’s ok for someone else to invest £100k into your business, a business which you don’t believe in enough to invest in it yourself.
Lessons are now over.
Most clients I work with end up doubling their turnover (or more) pretty quickly and I’ve plenty of proof to that effect.
The only reason people don’t invest in a coach, isn’t because “they can’t afford it”.
In reality it is because they’re too scared to invest in their own business because they doubt they can do it.
They have no faith in themselves.
And the only reason that doubt exists is because nobody has shown them how to do it yet.
How can you believe in something which doesn’t exist?