31. How to Get a Return on Any Investment You Make
I recently decided to hire a new business coach, which then got me thinking about how I invest in my business. This week, I’m showing you not only what I invest in, but my process behind how I decide to invest so you can apply my approach to your own business.
The decision to invest in your business often brings up hesitation and fear, especially as it relates to brand-new investments that seem like unknown risks. Investing both time and money in your business is significant. If all you can think about is what you’re going to sacrifice or how much it’ll cost you, you’re in the right place.
Join me this week to hear my decision-making process behind investing in my business. I’m sharing why you have to consider the role of the human brain when it comes to your investment decisions, and how to empower yourself to not only get a return, but increase the value of any investment you make.
Enrollment for our summer round of Out of Overwhelm closes tomorrow! If you want to learn how to manage your time as a creative in a way that feels both supportive and flexible, click here to get more details!
What You’ll Discover from this Episode:
Why it’s important to look at investing in your business from the perspective of the human brain.
My definition of an investment in my business.
What I invest in when it comes to my business.
Questions to ask yourself about an investment you want to make in your business.
How I cultivate grounded energy around a decision to invest.
Listen to the Full Episode:
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Full Episode Transcript:
Welcome to The Interior Design Business CEO, the only show for designers who are ready to confidently run and grow their businesses without the stress and anxiety. If you’re ready to develop a bigger vision for your interior design business, free up your time, and streamline your days for productivity and profit, you’re in the right place. I’m Desi Creswell, an award-winning interior designer and certified life and business coach. I help interior designers just like you stop feeling overwhelmed so they can build profitable businesses they love to run. Are you ready to confidently lead your business, clients, and projects? Let’s go.
Hello designer, welcome back to the podcast. It feels like it’s been a little while since I’ve been here with you with the client interviews I’ve been doing the past couple of weeks. And now it’s back to solo episodes. I had kind of an interesting moment of self-observation this past weekend. My daughter, she’s six, she’ll be seven this July. And she earned herself a Barbie Dream House for a sticker chart that she’d been working on very hard.
And I just kind of had this moment where I had to laugh to myself because we were setting it up and there’s all these little stickers that come with the house. And on the house there’s sort of these indented little spaces and it shows you where the stickers should go and how they should line up. And she was asking for my help, but really I think she just wanted me to watch her do it. And oh my gosh, the internal angst I felt over the stickers. Oh my gosh.
I’ve worked on perfectionism so much in both my personal life and my work life and I have come so far. But then I’ll catch myself in these little moments where I’m like, “Oh my gosh, she is going to be slightly off with that sticker and it’s going to drive me nuts every time I look at it.” So I had to laugh because as much as perfectionism isn’t really an issue too much, it still kind of shows up in these funny little random ways.
And actually, she did an amazing job putting these stickers on and allowing me to help when she needed. And we were able to spend lots and lots of time doing that pretend play.
What I want to talk to you about today is prompted by my decision recently to hire a new business coach. And it had me thinking about how I invest in my business personally. Not just what I invest in, but my process behind how I decide to invest. And I thought it would be interesting to have another episode taking you along on my own decision making process so that you can understand how I approach business and then apply it to your business as well.
Before we dive in, I want to make sure that you know that if you’re listening to this in real time, the day it comes out, Out Of Overwhelm is going to be closing for enrollment tomorrow, May 25th. Out Of Overwhelm is my six month group coaching program where you will learn how to take control of your business through managing your time, projects and clients.
This space is where you are going to empower yourself to fully step into your role as a CEO alongside an intimate group of peers. If you’re getting value out of this podcast, you’re going to want to join us in Out Of Overwhelm. I don’t plan on offering this group again until next year.
Now really is the perfect time to get in, not just because of not having it be available until 2024, but because summer is coming. And all that summer brings in terms of schedule changes and additional activities and possibly vacations, there’s really no better time to learn to effectively manage your schedule so that you can not only have the business you want, but the lifestyle you want as well.
All of the details are on my website, desicreswell.com, and I’ll put a link in the show notes. All you have to do is fill out a quick form to tell me about yourself and that ensures that your goals align with the program. I review each of those personally and then get back to you with next steps. Like I said, tomorrow enrollment is closing, so now is the time to join us.
Okay, let’s dive into the episode. A few months ago I started thinking about working with my next coach. And this person is someone that I’ve never worked with before. And when I was in the process of thinking about signing up with her and actually signing up with her, I noticed how much hemming and hawing I was doing around the decision.
It really had nothing to do with the coach because I thought she was an amazing coach. I felt that she could help me, she was addressing something that I want to work on specifically in my business. All of that indecision was really coming around the investment amount, both the time that I’d be investing and the actual money, which both felt very significant to me.
It had me thinking about how in the past year and a half I’d been investing and then reinvesting with the same coach and the same program repeatedly. So in that instance I knew firsthand what to expect, which felt like a much easier decision. Once I got over that initial decision to join, every time I decided to renew it felt very familiar. It no longer felt like a perceived unknown risk.
Would I like the other people? Would the program deliver in the way I thought it would? Would I get the results I was setting out to create? Those just didn’t feel like big questions anymore because I’d already made the initial decision, which felt like the biggest decision. What it highlighted for me was that it’s been a while since I’ve been in this place as a client where I was looking to make an investment in a new area with a new person.
And that could very well be you right now thinking about joining Out Of Overwhelm. So I thought it would be helpful to share about how I make decisions around investments in my business, not just for coaching, but in general how I invest so that you can apply this to your business as well.
I think it’s important to look at using your time and financial funds in your business from the perspective of the human brain because it impacts the decision making process and kind of all of that lead-up to the decision so much. Your brain when it’s presented with an opportunity to invest some type of resources, whether that’s your time, money, attention, it’s always going to go to what is this going to cost me versus what am I going to gain?
Know that your brain has a negativity bias. It’s going to want to focus on what it thinks it has to give up or sacrifice. It might even want to unhelpfully remind you of past experiences where the investment didn’t match your expectations, or where you didn’t show up in a way that you wanted to show up because it’s trying to protect you.
Before we even dive into the decision making process, I think it’s really key to have awareness around this lens that your brain is viewing the investment with, and also considering how you’re defining investment. If in the past you’ve been thinking about investments as draining money from your account or even thinking about how much time it’s going to take, and if you’ve been really focused on the potential costs.
I say potential because often the brain is more dramatic than it needs to be. There will be some time involved. There will be some money that needs to be spent. But our brain likes to say it’s going to cost so much and take so much time and it’s going to be so hard, because that’s just what brains do.
I want to offer my definition of an investment in my business, and investment being time, money or effort spent on something. And that investment is going to increase the value of what I’m already doing or help me create a new result. This is really where you can key into what are the results that I want to create having made this investment? What is the additional value I’m going to create because of this investment?
This could be monetary value, where you’re creating more money. So that’d be increasing the value where you’re already making money in your business and you want to make more or you want to make it more easily or more effectively or more efficiently. It could be increasing your value through skill. For example, I’m completing master coach training right now and I’m using that to bring an even higher level of thought leadership to this design industry to better serve my clients.
You might be investing in a skill that is going to help you as a leader or maybe it’s a technical skill, but it’s going to increase the value you’re able to bring to your business and possibly even provide a financial value return as well. Maybe you’re going to be able to offer a service you couldn’t or offer it more seamlessly, and so that’s going to increase profitability.
The value or result could be in terms of time. This could be creating personal time for yourself or having the personal life where you have space to take care of yourself, increasing the value of your health. Or it might be in your ability to be present with your family and increasing the value of your relationships.
I invest in support within my business as a way to create value in terms of time. So my assistant is doing things like drafting the emails that I write so that way I can do more coaching, which is what I’m going to prefer doing above everything else. That’s a value to me and it’s also the way that I give the most value to my clients and create more value in the design space as well.
There’s so many ways that you can create value through the result that you’re creating with an investment. And I encourage you to consider your own values. What are the results that you want to create? And how do your own values decide what returns you want to create through an investment?
When we talk about creating value or new or better results through an investment, meaning you’re putting something in and getting a greater value in return, I also want you to understand that you are the one that creates the results in your business. I’m the one that creates the results in my business. The investment itself does not create the results.
Now, why is this important? No matter how many times you think about deciding to invest in something, how many testimonials you read, how many times you read through the details on the program page on the website, there’s a point where you have to take a leap. And this leap can feel really scary when you’re believing that the results or the value you want to create is outside of your control and lies exclusively in whatever it is you’re investing in.
There are outside tools and resources that will support you in obtaining the results you want, but they’re only part of the equation. You will continue to be your biggest asset. You as the asset, you’re already amazing. You have a lot of great things going and you’re going to use the tools and resources that you’re investing in to create even better results. But those results are always coming from you.
For me, this creates such grounded, clear energy around a decision to invest because I know I can count on me. I’m going to count on the program, of course, to deliver or whatever it is that I’m investing in. And I’m going to work in partnership with it to get exactly what I came for. This is why clients who join Out Of Overwhelm use the materials to get such different results. They’re all given access to the same tools.
Some of them use them to create a four day work week. Some use them to take their family on vacations that their business pays for. Some of them use the tools to create marketing and PR opportunities for themselves or even grow their team. And that’s because the client is always creating their own results in partnership with the tools and resources and coaching that they’ve invested in with me.
When you believe that the investment creates your result, that puts so much pressure on the investment to be the right one and to perform for you. And disempowers you, which feels yucky when it comes to making these types of decisions in our business. When you recognize that you create the results in partnership with the investment, you really empower yourself to get a return, or increase the value, or create new value on any investment you make.
This takes away a lot of the stress and anxiety about is this the right investment? Is this the right time? Because you get to decide it’s the right investment and make it the right time to get exactly what you want.
The last thing I consider when making an investment decision is opportunity costs and compounding results. This is a big one. Often we think of not investing or not spending as the absence of an expense. What I often see, though, is that not investing actually becomes the biggest expense. Not investing in what you know you need to get to that next level and up-level personally and professionally can actually cost you time, money and effort because of opportunity costs.
If you’re considering an investment that aligns with where you want to go personally or professionally and aligns with the values and results you want to create, the longer you put off the investment, the longer it will take to reap the immediate and future value. The future value being the compounding results from your investment.
I like to prioritize investments that are not only going to impact me in the short term, but will create a positive impact again and again in the future. For example, when clients invest in Out Of Overwhelm, they master the skill of managing their time. And they will for sure reclaim at least five hours per week.
I did the math on this one time for fun and if you figure an average hourly fee for a designer and the amount of time you’ll get back through using the tools in the program, the program pays for itself in little over a month. That’s great in and of itself. But once you have the skill of managing your time, it will be with you forever.
The time saved, the additional money you’ll make from billable time, your greater efficiency, your ability to delegate effectively and truly turn off or step away from the business, it’s just going to compound like money in the bank. And that’s only accounting for the one module on time management. There are 11 other modules that you’ll benefit from, just from the single investment in the program.
A question you can ask yourself is what is going to be the lifetime value of this? For me with the decision I made recently around hiring a new business coach, the lifetime value is huge. Not just for me, but for all of the clients that I’m going to serve in the future. It’s really fun because I have created the exact business that I wanted to create.
And that also means I’m at a point where I want to think beyond that. I want to think about how I’m going to make an even greater impact and how I’m going to serve you next. And so the lifetime value of taking the time and money and effort to engage with this new coach right now will be exponential.
When clients think about investing in Out Of Overwhelm, they’re thinking about the lifetime value of forever being happier and more present in their life. The lifetime value of being confident and being able to make quick, powerful decisions and take empowered action.
They’re thinking about the lifetime value of being able to say no, and stop people pleasing, and creating repeatable processes that are going to streamline their client experience for themselves and their team on the back end. And also create a better experience for their clients who are going to go on and refer them to friends and continue to grow your business.
When you’re thinking about making a decision to invest in something, you aren’t just investing in the next few months, in the next six months as the case is for Out Of Overwhelm. You’re creating the opportunity for compound interest for the rest of your life and career. Of course, I don’t want you to wait any longer to invest in yourself and create a business that you enjoy running and that really supports your lifestyle, whether that’s financially, the flexibility it offers, or something else, something big you want to dream.
I am here along with an intimate group of designers ready to support you in Out Of Overwhelm. Enrollment is going to close tomorrow, May 25th. So now is the time to join. If you’ve been on the fence, let’s get you off the fence because that is an uncomfortable place to be seated. The questions I’m going to pose right now can definitely be used for your Out Of Overwhelm decision, and also any other decision you’re making around investment in your business.
The first one being what will this make possible when I get started today? Not later, but today and take action. And the second one is if you could fast forward six months, a year from now, what advice would your future self have about deciding to invest? What would your future self have to say around joining me in Out Of Overwhelm? Because the biggest expense in your business is going to be waiting to fix something that isn’t working.
And if you’re listening to this podcast, chances are there’s some things that aren’t feeling great in your business around your time and working with clients and managing project loads. If you want to drop the spin, let’s do it together. Click the link in the show notes or head to desicreswell.com to fill out the form to join us today.
We’re going to kick off July 18th and coach for six months to put you in a position to really cruise into 2024 with more ease, joy and profitability.
That’s what I have for you today. In the next episode I’m going to be sharing how to handle those low energy days. It’s kind of a follow up to the recent episode on protecting your time and energy. I can’t wait to dive into that, I’m going to do it pep talk style. And until then I’m wishing you a beautiful week. I’ll talk to you in the next episode.
I’m going to make the bold assumption that you enjoyed today’s topic. Let’s make sure you never miss an episode; follow the show now wherever you listen to your podcasts. If you haven’t already, I would really appreciate it if you’d make the time to leave me a rating and review. This is how I know what you’re loving so I can share more of it.
And it’s also how you can help others find The Interior Design Business CEO. As a thank you for leaving a rating and review, I want to send you a little midweek pick-me-up in the mail. Simply screenshot your review and send me a message on Instagram, @DesiCreswell. I’ll talk to you next week.
Thanks for joining me for this week’s episode of The Interior Design Business CEO. If you want more tips, tools and strategies visit www.desicreswell.com. And if you’re ready to take what you’ve learned on the podcast to the next level, I would love for you to check out my signature group coaching program, Out of Overwhelm.
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