What I’ve Learned After Investing 5 figures Into My Business (within my first 6 months) w/ Grace McGohan

Aug 27, 2020

To a lot of people, that sounds like absolute crazy talk. It sounded a little like crazy talk to me too as I signed coaching contracts for large amounts of money that I wasn’t making in my biz (yet).

Here’s a bit about my story + how I’ve become suchhh an advocate for investing: I dropped out of college at the age of 19 to pursue business full-time.

I was paying ungodly amounts of money to my private university without batting an eye, but when my parents told me “you still have to find a way to invest in yourself if you drop out”, I was somewhat annoyed. “Haven’t I spent enough money ‘investing?!’ *referring to the 1.25 years of college money I spent*

My parents raised me to be extremely financially responsible. Money isn’t always talked about a lot, but in my home it was. We were taught to save AND invest. My parents demonstrated this to us kids from a young age–something I’ll forever be grateful for.

The education aspect of investing was very exciting for me because I genuinely LOVE learning all about business, but the financial aspect made me want to vomit.

To make multiple four-figure investments when your business is worth $0 felt really really gutsy.

But I did, because I knew without a doubt that my business was made to be worth a lot. As a business owner, we first need to believe that. Then once we believe it, we need to take action on it. We need to ​do it​ & we need to ​invest in it.

I’m here to share the aftermath of initially investing, and why I will preach investing in yourself until the day I die.

Side note: Investing is not meant to happen solely in the beginning. Smart business owners will invest into education, courses, and coaches over & over & over again. The beginning is often where it feels the hardest & most uncertain.

Sooo, about that 5-figure investment…

In my first 6 months of business, I made back every penny & more. And now? I’m on track to be a 6-figure business owner by the age of 21.

Let me tell you, there’s NO chance I’d be progressing so quickly in business without great investments like the ones I made (and am continuing to make).

Before I go any further, I want to clarify 2 things with you:

It isn’t just about the money. The reason I share all of this with my coaching clients (& you) is not to show you how far I’ve come, but to show you how far you, too, can go when you believe in your dreams enough to work at them AND invest in them. Of course, we need money to live, but if there’s anything I know about us female entrepreneurs, it’s that we are equally as in it for the impact. I knew that investing would help me grow my revenue, but that alone didn’t propel me forward to success; knowing that what I was working towards was powerful & impactful did. Look beyond the money. It’s a great perk, but revenue alone won’t do the trick.

I encourage EVERYONE to invest– but I encourage you to invest ​wisely.​ When considering investing in your business, I’d encourage you to think about the following: Where am I currently at financially? If you’re going to go into debt, I’d tell you to maybe reconsider.​ Be smart about when you invest. Second, what are you going to invest in? Is it something that will get you results? Is it by a coach or educator that you connect with? What will the ROI look like, and is that worth what you’re investing? ​Be smart about WHAT you invest in. ​For me, this looked like a lot of hustle to be in a spot where I was financially ready to invest AND doing a lot of research to make sure I was choosing the right investments.

Stop saying you can't afford things and start living with the financial freedom you've always wanted

For me, investing was the fuel to my fire that I needed.

I knew wholeheartedly that I ​could​ and ​would ​be a successful business owner. I knew that I was worth investing in– which is exactly what I preach to my clients.

The reason we invest in our business is NOT because we don’t believe enough in ourselves and our abilities. The reason we invest in our businesses is because we believe SO MUCH in ourselves and our abilities that we become determined to make maximum impact and income.

Investing in yourself and in your business is EMPOWERING. Having some skin in the game is one of the biggest game-changers for entrepreneurs.

If you’re on the fence about investing or need some guidance on how to get the most out of your business (or personal) investments, here are three major tips I’ve learned that have changed the game in HOW, WHEN, and WHY I invest in my business:

BE READY TO DO THE WORK.

Coaching looks really cool, and don’t get me wrong… it TOTALLY is. But it’s not super sexy all the time. It takes real frickin work when you invest in a coach that is going to push you to the

next level. Before investing, take a look at your life & figure out if you have the time/energy to do what it takes to make it to that next level.

ACCOUNTABILITY MATTERS.

Having coaches that double as accountability partners has changed the game for me. I always take a good hard look into who I’m investing in & how it’s going to benefit me. Courses and self-study investments are great for certain things, but I’ve grown exponentially from having 1:1 support and accountability.

KNOW WHERE YOU’RE HEADING.

Before taking the leap to invest in a coach, course, or program, know the general destination that you are working on getting to. Know where you want to go FIRST, then use your investments as a vehicle to help get you there. Don’t go dropping money on programs before knowing what exactly you’re needing help with.

At the end of the day, investing CAN be scary– yes…

BUT, you are worth the investment. Your business is worth investing in. You are WORTH every penny that you choose to pour into your dreams.

Make a plan & don’t back down– invest in YOU! You’ll make huge leaps & strides because of it!

Grace is a business coach, digital marketing agency owner, camp founder, & mental health advocate. Since the age of 15, Grace has been a business owner and is now a full-time entrepreneur guiding young women through their journey’s in business. As the owner + founder of Letcha Light Shine, she equips women with strategy, confidence, and accountability so that dreams actually come to life. You can find Grace hanging on the ‘gram (@letchalightshine), sitting on her balcony, or slurping iced coffee like it’s her job! 

FILED IN:

SHARE ON:

you said:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

LEAVE A COMMENT

Instagram is my

fave

fave