Save or Spend?: 5 Ways to Know If Your Next Investment Will Be Totally Worth It (Or a Total Waste of Time and Money) Part 1
Information products, conferences, group programs, online training, masterminds, individual coaching…there are endless ways you could invest in your business. And we entrepreneurs love being on the cutting edge and learning new things so each of them has its own special allure…we can’t help but salivate 🙂 But what happens when you’re ready to invest but you aren’t sure which program is right for you? How do you make sure you don’t end up disappointed or feeling like you wasted your money or your time on fluff? In this article, part one of a two-part series, we’ll explore how to make sure your time and money won’t be wasted again on your next business investment.
Five Ways to Ensure Your Investment Will be Worth It
- Make sure you are clear on exactly what skills or tools you need to improve on currently *before* you go shopping around. Sometimes, we just do it backwards: we hear about a new program and then look into it and decide if we like it. And then, later, we realized what we *really* needed to learn was something totally different. Know what your immediate needs are first! For example, that class on blogging might sound great, but if you are feeling like you need more clients, it might be better to hold off and focus instead of finding a resource that’ll teach you how to sell.
- Decide if what you want to improve is going to fit in with your big picture. What are some of your big future goals? Do you want to travel around the world as a speaker? Do you want to write an awesome book? Do you want to be a media darling? Whatever the goal, make sure that your investments support and reflect those future goals, too. Find the mentor or resource that will show you how to get there as you work on your immediate needs, too.
- Set up time to talk with whoever is selling what you are considering. This will help you decide if you mesh well with them and if their teaching style will fit you. You will be surprised at other questions that will pop up for you as you speak with them that you’ll wish you’d asked before you invested. If they offer any kind of “strategy session,” “information call,” or teleseminar or webinar event as part of their launch, jump on it!
- Ask the right questions.
- Share your expectations of the end results you want. For example, you can ask, “So, if I join your program, I will walk out with my book completely written and ready to publish, correct?” That’s a far better question than, “So if I join, I’ll get these templates?”
- “What If” questions are also great to ask. “What if I have an emergency? Can I cancel or make up classes? What if this conference doesn’t suit me after all?”
- A great question to ask: “What makes your conference/program/product different from the others out there?”
- Consider how you like to learn and how you need to receive information. Are you a do-it-yourself kind of lady? Do you like to learn in groups? Do you absolutely need one-on-one time for the topic you are trying to improve on? Do you learn more by seeing, doing, or listening? Make sure the investment you are considering will match your style.