1395: 5 Investments Every Smart Business Owner Makes by Tiffany Aliche of The Budgetnista on Entrepreneurship

[00:00:00] [SPEAKER_00]: This is Optimal Work Daily, Episode 1395, 5 Investments Every Smart Business Owner Makes by Tiffany Aliche of TheBudgetNista.com.

[00:00:10] [SPEAKER_00]: And I'm Dan, your host of the show, and I'm happy to be here with you today and also to be featuring a brand new author.

[00:00:16] [SPEAKER_00]: Always nice to hear a new take on things.

[00:00:18] [SPEAKER_00]: So with that, let's get right to Tiffany's work as we optimize your life.

[00:00:26] [SPEAKER_00]: 5 Investments Every Smart Business Owner Makes by Tiffany Aliche of TheBudgetNista.com.

[00:00:34] [SPEAKER_00]: It's easier than ever to start a business from scratch without any overhead costs,

[00:00:38] [SPEAKER_00]: which is great news for aspiring business owners who don't have the capital to start anything big.

[00:00:42] [SPEAKER_00]: But to grow a business from an idea to something profitable, you do have to put some money into it.

[00:00:47] [SPEAKER_00]: Here are 5 investments you should make to grow your business.

[00:00:51] [SPEAKER_00]: 1. One-on-one coaching Every business owner needs a coach or mentor.

[00:00:56] [SPEAKER_00]: The opportunity to tap into the knowledge, experience, and connections of an expert is worth every penny.

[00:01:02] [SPEAKER_00]: Business coaching is a popular service to offer right now, so make sure whoever you hire is qualified.

[00:01:07] [SPEAKER_00]: Ask for referrals and hunt for experts who have tangible business experience,

[00:01:11] [SPEAKER_00]: solid credentials, and client testimonials. After you create a short list of candidates,

[00:01:16] [SPEAKER_00]: hold phone screenings to choose the best coach for you.

[00:01:19] [SPEAKER_00]: A business mentor that will help you for free is an invaluable asset.

[00:01:23] [SPEAKER_00]: Sure, you don't need to invest money into the relationship,

[00:01:26] [SPEAKER_00]: but you do need to invest your time to keep the bond strong.

[00:01:29] [SPEAKER_00]: Schedule regular meetings with your mentor to stay on his or her radar,

[00:01:32] [SPEAKER_00]: and remember all relationships are a two-way street. Figure out what skills or experience

[00:01:37] [SPEAKER_00]: you can offer your mentor that will encourage him or her to keep in contact with you.

[00:01:41] [SPEAKER_00]: 2. Bookkeeping and tax help I know from experience that hiring a bookkeeper

[00:01:46] [SPEAKER_00]: can revolutionize a business. I manage my own books for years, and consequently,

[00:01:51] [SPEAKER_00]: I dread it every tax season. This year, I hired someone to take care of my bookkeeping

[00:01:55] [SPEAKER_00]: entirely. Now, my expense receipts are neatly organized months in advance and ready for my

[00:02:00] [SPEAKER_00]: accountant. How's that for early preparation? Not only has a bookkeeper saved me time throughout

[00:02:05] [SPEAKER_00]: the year, I know this winter I'll be able to focus on expanding my business instead of hunting

[00:02:10] [SPEAKER_00]: for receipts. If you're not well versed in tax code, you should consider hiring a

[00:02:14] [SPEAKER_00]: certified public accountant. Uncle Sam doesn't play around when it comes to taxes, and neither

[00:02:18] [SPEAKER_00]: should you. When you leave taxes to a qualified professional, you can rest assured you've

[00:02:23] [SPEAKER_00]: filed the right deductions, your taxes are paid on time, and you won't be surprised later with an

[00:02:27] [SPEAKER_00]: unexpected tax bill. 3. A quality web presence

[00:02:32] [SPEAKER_00]: If you rely on inbound leads to sell your products or services, a website is your first impression.

[00:02:38] [SPEAKER_00]: What does your website currently say about you and your business? Do you look credible?

[00:02:42] [SPEAKER_00]: Does your headshot say, I mean business? When visitors navigate to your site, it takes just

[00:02:46] [SPEAKER_00]: seconds for them to decide whether or not you're legit. Sure, working with a web developer

[00:02:51] [SPEAKER_00]: to create a custom site is costly, but you don't have to spend thousands of dollars to make a good

[00:02:55] [SPEAKER_00]: impression. If you're on a tight budget, try affordable web site builders like Squarespace.com,

[00:03:01] [SPEAKER_00]: or you can download the free software from WordPress.org and invest in a premium theme.

[00:03:06] [SPEAKER_00]: If you want to further customize your site, you can hire a professional for small design

[00:03:09] [SPEAKER_00]: changes that will cost you much less than a site built from scratch.

[00:03:13] [SPEAKER_00]: 4. Captivating sales pages and marketing content

[00:03:17] [SPEAKER_00]: Are your sales pages converting? Does your marketing outreach stir up excitement?

[00:03:22] [SPEAKER_00]: If not, you should invest in marketing content. Let's face it, we're not all strong

[00:03:27] [SPEAKER_00]: copywriters or marketing extordinaries. A stiff business page, brochure, case study,

[00:03:32] [SPEAKER_00]: or blog post doesn't cut it anymore. Customers want to engage on a personal level with you.

[00:03:38] [SPEAKER_00]: Ultimately, it takes skill to craft content that creates that sense of urgency for whatever

[00:03:42] [SPEAKER_00]: you're selling. If this isn't your area of expertise, hire a freelance copywriter or marketing

[00:03:47] [SPEAKER_00]: advisor. You'll make the money back when your new copy entices prospects to buy from you.

[00:03:52] [SPEAKER_00]: 5. Assistance for the mundane tasks

[00:03:56] [SPEAKER_00]: You can only be a one-woman or man machine for so long. Eventually, as your business grows,

[00:04:02] [SPEAKER_00]: the day-to-day administrative tasks of running the show will take valuable time away from

[00:04:06] [SPEAKER_00]: other more important projects. Smart business owners know when it's time to hire administrative

[00:04:11] [SPEAKER_00]: help to scale an operation. Letting go of complete control may require you to change your mindset.

[00:04:16] [SPEAKER_00]: Understand that you don't have to work yourself into exhaustion to succeed in business.

[00:04:21] [SPEAKER_00]: Clock your hours each week to see where you're spending the most time.

[00:04:24] [SPEAKER_00]: If it's not on activities that flow money into your business, outsource the tasks.

[00:04:29] [SPEAKER_00]: Consider outsourcing work such as scheduling, customer service, packaging product,

[00:04:33] [SPEAKER_00]: vetting clients, social media marketing, or answering emails.

[00:04:37] [SPEAKER_00]: Make more time in your day to be the visionary instead of the workhorse.

[00:04:41] [SPEAKER_00]: As you can see, investing in your business doesn't have to cost you tons of money.

[00:04:45] [SPEAKER_00]: Work with the funds you have now and level up as you bring in more income.

[00:04:49] [SPEAKER_00]: And always remember, investing in tools and services that offer you valuable information,

[00:04:53] [SPEAKER_00]: pushes your product, and makes you more productive is money well spent.

[00:05:01] [SPEAKER_00]: You just listened to the post titled, 5 Investments Every Smart Business Owner Makes

[00:05:06] [SPEAKER_00]: by Tiffany Eliche of thebudgetnista.com.

[00:05:09] [SPEAKER_00]: This show is sponsored by BetterHelp.

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[00:06:05] [SPEAKER_00]: That's BetterHelp, H-E-L-P dot com slash workdaily.

[00:06:11] [SPEAKER_00]: And a big thank you to Tiffany for sharing her work today.

[00:06:14] [SPEAKER_00]: Tiffany Aliche is an award winning teacher of financial education

[00:06:17] [SPEAKER_00]: and is quickly becoming America's favorite personal finance expert.

[00:06:21] [SPEAKER_00]: She's made it her mission to empower women and provide them with access to the tools

[00:06:25] [SPEAKER_00]: and resources needed to create a better life for themselves and their families.

[00:06:29] [SPEAKER_00]: Through her company, The Budget Nista, Tiffany has created a financial movement

[00:06:32] [SPEAKER_00]: that has helped over 800,000 women worldwide collectively save more than $100 million,

[00:06:38] [SPEAKER_00]: pay off over 75 million in debt, purchase homes, and transform the way they think about their finances.

[00:06:44] [SPEAKER_00]: So come by TheBudgetNista.com for more, and thank you again to Tiffany for letting us

[00:06:48] [SPEAKER_00]: share her article today for the very first time here on OWD.

[00:06:52] [SPEAKER_00]: But that's going to do it for this episode.

[00:06:54] [SPEAKER_00]: I thank you as always for tuning in and being a regular listener and subscriber.

[00:06:59] [SPEAKER_00]: And I hope you'll be back here again with me tomorrow.

[00:07:00] [SPEAKER_00]: And that is where your optimal life awaits.