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M. THOMPSON

Making Business Investments

Monday, April 02, 2012

As small creative business owners, I think we all know what it feels like to want to build our business from nothing. We just want to start out with our skills and our knowledge, and for many of us, that works out pretty ok.

For a while.

Looking back over the life of my business I can see clear lines drawn in growth where I went beyond that cheap-o habit and actually put some extra time and money back into my business.

1. I bought my iMac.

Purchasing my iMac was one of the first things that I did when I started my web design business. I was only about 2 months in when my old Dell almost sputtered and died.

I could have kept on, restarting the desktop every half hour, but it was more important for me to work more efficiently than it was to save a buck (or a grand) on a new important piece of equipment.

2. I bought the creative suite.

This one took too long for me to commit to. I mean, the Adobe Creative Suite is not cheap! I spent a good six months of my web design business piecing together free and inexpensive graphic and coding programs to build websites. It was a hot mess.

For me, investing in the Creative Suite allowed me to streamline my design process.

3. I partnered with Business Catalyst.

At about the same 6 months in that I invested in the Creative Suite, I also decided to take my commitment to getting small businesses online seriously by investing in a partnership with Adobe Business Catalyst.

This investment proved to myself, more than anything, that I was in this business for the long haul. It was a commitment to have an ongoing plan for helping small creative business owners, and I now have the tools to assist these businesses like never before.

4. I went to Paris and Alt Summit and Dallas.

Life in the mountains is a bit of a design/networking/business black hole. I've realized that it's important for me to occasionally go on business expeditions to connect with like-minded professionals.

Travel expenses from my little corner of mountain life can be a little pricey, not to mention staying extra days in a super fancy-pants hotel, but for me, the expense of going to conferences, networking, and doing business projects is well worth it. So, everytime I take one of these trips, it's an investment. One that's fun, beneficial, and get's me closer to my goals.

5. I developed a process.

Investments in your business don't have to just be financial. Sometimes investments in time can pay off more than any amount of money.

I have been spending the last few months working endlessly to refine and execute my process of getting small creative businesses online. It's a process that starts with inspiration and ends with website launch, with 6-8+ weeks of design, coding, and content in the middle.

It involves consultations, worksheets, and moodboards, and it works. This process sets my business apart, and is my favorite investment yet.

When To Invest

Each of my investments have been made at times when I've hit a ceiling. I don't go all willy-nilly throwing my time and money at whatever comes around. I wait until current situations can no longer support my growth, and then I make a commitment to push past the boundaries.

I'm also one who's not afraid of change. I like the idea of evolution within and beyond my business, and these investments make this evolution, and growth, possible.

Is there anything that you've done for your business that you would consider a big investment? How did it affect your business?

Comments
Elle commented on 02-Apr-2012 08:22 AM
I have recently made a HUGE investment in that I have hired my first staff member - I thought it was a big deal when I paid for graphic design instead of doing it myself or web design instead of using a free template - but now my business and I have reached
a stage where we take ourselves more seriously and we realise we are worthy of reaching, helping and working for as many people as we can without compromising the level of service! So to aid in my ability to serve more clients I hired a PA! Still terrified
but also know my business will only go forward from here and she is a constant inspiration and help!

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