Bernadette Boas knows that you get you what you pay for…
As the CEO and founder of Ball of Fire Inc. she teaches individuals in her business success coaching program how to shed their fears, insecurities, and doubts to create riches in their business and the life they deserve. And, according to Bernadette that begins with one thing – smart investments.
We’re not talking stocks and bonds here. Bernadette wants entrepreneurs and solopreneurs to invest in themselves and their businesses.
“If you really want to be strategic and advance yourself to that 7-figure number, you want to start investing.”
Bernadette says that to advance your business, you have to move away from the “freebie” mindset and start investing in the people, processes, and technology that will move your business forward.
Investing wisely begins with looking at the structure of your business to determine where your money will make the most impact.
Bernadette maps out the steps that help business owners be very intentional about where they put their money:
- Know Where to Invest
Every business has its own hierarchy or structure. When you’re just starting out, you’re likely filling every role in your business. But as your business grows, your goal as CEO is to get yourself out of the need to fill every role, and that means investing in a team.
Here’s a simple rule that helps you decide whether or not to spend the money on hiring – if you can hire someone to do it for less than your hourly rate, do it!
- Build Your Sales Team
You can’t do it all yourself – and you shouldn’t! Bernadette points out that if you could spend more time doing the work you’re supposed to be doing, it would bring in far more revenue than your team is costing you.
The more you can delegate, the more time you can dedicate to the high-yield areas of your business.
- Change Your Mindset
If you want to build your business from 6 to 7-figures, you have to have that strategic, empowered, bold, risk-taking, investing mindset. If you don’t, you’re going to continue being in a place of desperation, and lack, and insecurity, and that’s not going to get you where you want to go.
Bernadette reminds us that success is 80% mindset and 20% business. She says, “I go to work every day ensuring that I’m in the right mindset to make the decisions, take the actions, make the investments, and hire the right people that will take me to the next level.”
If you’d like more of Bernadette Boas’ brilliant advice on investing in your business, check out this episode now.
Then visit her website https://balloffirecoaching.com/ and check out her offer for a one-on-one strategy session that will help you lay out a 6-month business plan that focuses on getting clients in the door, money in the bank, and a roadmap that gets you out of confusion, overwhelm, or insecurity.