Don’t Just Spend Money On Your Business

Complete Video Transcript: 

Hi, this is Kelly from Solo Smarts. I want to share some personal and business stuff with you today. I just renewed the first domain that I ever bought on the internet. I first purchased the domain in January of 2002. It marks the birth moment of my online business efforts.

I didn’t make any money that month. I think it was about two months before I made $5. Then it was several months after that before I was making $50 a month. It was a few more after that before I was making the extra $200 a month that I needed to pay my bills. I was working full-time. I was a single mom and I needed extra money. My phone was getting turned off. My electric was being turned off. My propane pig would run empty on me. I was always behind. I needed that extra money.

When I bought that first domain I didn’t have the money for it. I think I paid $6 for it. I didn’t have the money. I didn’t have the money for that first month of hosting either. I spent money that I didn’t have and got it. That first host that I signed up with went belly-up shortly after I got my website set up. The nightmare of that! Fortunately, a friend rescued me and got my site moved over to a new host.

Just paying for the domain and hosting was stress enough. I couldn’t spend money on anything else. I couldn’t buy ebooks. I couldn’t pay for audios. I had to rely on the information that I could find on the internet. There was no choice in the matter. I didn’t have credit cards. If I was going to spend one more dime it was going to come from somewhere. The phone bill was not going to get paid. I was going to be taking food out of my son’s mouth. There was no spending money. It was not an option.

Honestly, I’m grateful for it. It really never bothered me back then that I couldn’t spend money because I didn’t know anyone else who was spending money on things like that either. I built my business by the sweat of my brow and my own determination. I made my first money by doing things for other people and learning as I went.

This is not a long bleeding-heart story in case you’re worried. Fortunately, I met an awesome person who invested time and effort in me. They mentored me, pulled me along, got me to do some things and spend some money. It was a period of time. It wasn’t right away. It was definitely not that first year.

If I made $5 from my business then I spent that $5 paying a bill. If I made $50 from my business, I spent $50 paying my bills. When I made $200 a month, I spent that $200 on my bills. I didn’t reinvest anything into my business in that first year. It was a while. It was 2004 and 2005 when I was making more money and I started to reinvest a little bit back into my business. That’s not what this video is about.

This video is about spending. I didn’t spend in the beginning because I could not. Like I said, I’m grateful for it. I’m very concerned for those of you who can spend that you’re spending too much. I’m concerned for those of you who are spending out of your checking accounts and your grocery budgets. I’m even more concerned for those of you who are spending on credit cards.

There is a scary attitude out there that I run into. Some of you think that you can literally spend your way into success. If I just buy this product, I will be successful. If I just buy this coaching, I will be successful. If I just go to this event, I will be successful. It doesn’t work that way. I say that as someone who sells information products and coaching and loves going to live events.

You can’t spend your way to success. You can only work your way to success. I worked my way into the first hundreds of dollars that I made. I didn’t start spending money on learning until I had exhausted my own ability to make the money.

The very first product I bought was the Super Affiliate Handbook by Rosalind Gardner. I spent $50 on it. Spending that $50 was a little terrifying to me. Fifty dollars was a winter coat for my son. Fifty dollars was two tanks full of gas. Fifty dollars was more than I sometimes spent at the grocery store in a week. It was a big deal but I was convinced I would learn something from her that I didn’t have inside of me already and couldn’t find for free on the internet.

I knew that if I could get that information I could use it because I was watching other people do it. I was watching other people buy her book, put it into action and make money. I knew, “If I buy her book and put what I learn into action, I’m going to make money.” That was the very first thing I bought. Do you know what? I did. I bought the book. I put it into action. I began to make affiliate income. I didn’t buy another information product that entire year. I can’t remember how long it was before I bought another information product. Just that one $50 ebook gave me enough work to do to last me a long time.

That’s what’s missing for many people. It is the concept that you buy the information, you study it and you do it. You do it! You don’t go and buy another book. You don’t sign up for another course. You do it! Any information product that you buy on the internet today is teaching you how to do something. If you do it, you are going to get some kind of result, hopefully. There are bad products out there but I am assuming that you’re finding good products.

I don’t buy much. My coaching clients are often shocked to learn how little I buy and how careful I am about the decisions to buy information products. It’s not because I’m a cheapskate but because I already have so much to do with what I already know. I’m not done implementing what I already know. I know how to do so much. If I just do what I know how to do, I’m going to make money. I do so I don’t need anything else. I don’t read offers. I don’t pay attention to promotions because I’m doing.

If you’ve been hanging out with me for almost 10 minutes now, the minute that this video ends, would you please go do something? Maybe make a list. Maybe get your favorite spiral-bound pad of paper. Make a list of five things you know how to do right now and do them. Check, check, check. Then make another list and do them. Do them again. Do something. Then come back and report on it.

While you’re doing it, whatever that is, do not read any offers. Do not peruse any promotions. Do not shop for books. Do not consider anything else. Just finish your list of things you know how to do. Then make another list. You know how to do something right now. You really do. If you really, really don’t then you should get in touch with me because I could probably help you figure out what you know how to do.

That’s what I had on my heart to share with you today. I’d love for you to respond to me if you want to leave a comment here.

What did you first buy? How much money did you spend? What did you do with it? I’d really like to hear.

Comments

  1. says

    Excellent post Kelly. I am guilty of purchasing products and never doing anything with them. Heck, some of them are just sitting around collecting virtual dust and haven’t even been ‘cracked’ open yet (yes, hanging my head at admitting this!). But, this just motivated me to pick ONE product I’ve purchased and learn something in it and then take ACTION and implement what I’ve learned.

    (Oh and thank you for the transcript ;-) along with the video!)
    Tishia Lee recently posted..Compelling Headlines: Three Simple Steps to Write Headlines That SellMy Profile

  2. says

    Kelly, I am sure you know as well that everything is timing! Your post hit me hard today; not that I hadn’t reached that conclusion before but you brought it home so genuinely, so from the HEART that it hit me HARD!! Especially now when the promotions flood the computer close to crashing it. Thank you for speaking out to us. My delete button will be even more active now.

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