There are many things that urge us to earn more money. While some of these things are not shared by everyone (being homeless, being in a desperate situation, wanting to save up for college), there is one thing that applies to all of us. One powerful urge that will make you want to earn more money is by spending it on yourself.
I would quickly like to point out that although spending money on yourself is a great way to get motivated to earn more money, you should not spend money to the point where you go bankrupt. Only spend about 5-10% of your money on yourself. That will be enough to get the urge going.
The first thing that I bought with my own money was HootSuite Pro. Before buying HootSuite Pro, I got very comfortable with making $200 every month which by no means is an income to live by. When I committed to spend $9.99 every month, I realized that I was not making enough money. In the future, I plan to buy access and upgrades to other tools such as ManageFlitter. In addition, I plan to use some of the money for things outside of my business.
This urge made me stop giving myself a pat on the back. In terms of making money, a pat on the back represents you are satisfied with the amount of money you are making. We all want stuff, and by purchasing some of that stuff, you will want to earn more money. This powerful urge will make you put in more work and effort to see your business succeed or for you to get the raise in the company you are in.
UPDATE:
I ended up buying access and upgrades to ManageFlitter and other tools. A significant portion of my budget is allocated towards outsourcing costs. I am spending far more money each month than I was when I first wrote this blog post.
The motivation exists more than ever for me to increase my revenue. I still haven’t spent any money on myself outside of my business because I don’t have a desire to do so yet. Anytime I spend money, it is an investment to my entrepreneurial domination.
Not only will spending money, more specifically, investing in yourself amp you up with more motivation. But spending money also makes you much smarter about how you spend.
I recently read Power Of Broke by Daymond John in which he mentioned that it’s not always good to get more money. Daymond has the perspective of an investor who says no to some businesses and provides extra money to other businesses.
Some people who get an extra dose of money are overwhelmed with all of the different ways they can start spending that money. Then, the money gets spent through a variety of means but ends up getting wasted.
Money isn’t made to be spent all of the time. For your business, you must always spend smartly. Spending smartly means analyzing your income and expenses. If you spend more than you make, then you’ll be in debt soon enough.
When I started to invest money into outsourcing, I didn’t start off with a team of dozens of freelancers. I started off with a single freelancer. It was a bumpy transition because I never gave a part of my work to someone else before. I interacted with that first freelancer often to make sure the job was being done properly.
Once I felt comfortable with outsourcing, I gradually outsourced more of my work to other freelancers. My outsourcing money has been money well spent due to the time it has opened up to me. If I immediately hired over a dozen freelancers, the transition would have been far more stressful due to the added work and anxiety of making sure multiple parts of my business were being managed properly.
Investing in yourself gives you a powerful urge to make more money. You are your greatest asset.
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