Sunday, April 11, 2021

3 Money Mistakes that Keep Your Business Broke

 

3 Money Mistakes that Keep Your Business Broke


Poor money management has been the cause of more business failures than any other single issue. And it’s no wonder. We aren’t born knowing how to manage money. Most of us aren’t taught how to handle it either. We figure it out along the way, through much trial and error.

Those same mindset issues and bad habits that wreak havoc in our personal finances can plague our businesses as well if we’re not careful. 

 

Catching Shiny Object Syndrome

 

Some things are just hard to resist—especially when your friends and colleagues are all jumping on board! New tools, training, group coaching programs and even business models can all have a strong pull, and if you aren’t careful, these shiny objects can quickly distract you from your current goals. 

 

If you find yourself catching shiny object syndrome frequently, try this two-step plan instead:

 

  • For “too good to refuse” offers, make a plan for achieving a positive ROI before you purchase. If you cannot find a (realistic) way to make the purchase pay for itself, don’t buy it.

  • For exciting new business ideas, create a “someday” list. Jot down your idea and a basic outline, then get back to the task at hand. Now that great idea won’t be lost, but it also won’t join the ranks of half-finished business plans that litter the internet. 

     

Falling for the Sunk Costs Fallacy

 

If you’ve ever said to yourself, “I’m not using this subscription, but I can’t give it up! I’m still paying the launch price and now it’s much more expensive!” Then you’ve fallen for the sunk costs fallacy. 

 

This common mistake is famous among economists, and we all fall victim to it from time to time. Simply put, the sunk costs fallacy is what makes us justify investing more money or time in something—even though we’re not seeing results—because we’ve already spent so much. It’s what encourages us to repair the car one more time (after all, you just put new tires on it), eat a meal we don’t enjoy (simply because you’ve paid for it), and yes, continue to pay for tools and resources you’re not using. 

 

Take a few minutes and examine your current business expenses. What are you paying for month after month that you’re not using? Either make a plan to put them to work for you, or cancel them. Stop falling for the sunk costs fallacy. 

 

Too Much Penny Pinching

 

You thought this was all going to be about overspending, didn’t you? Here’s the kicker: Spending too little is just as bad for business. 

 

When you’re constantly on the lookout for free and low-cost tools or working 16-hour days because you “can’t afford to outsource,” you’re not doing your business any favors. Sure, it looks like you’re bootstrapping and working really hard to make something from nothing, but what you’re really doing is digging yourself a rut it will be nearly impossible to climb out of. Not only that, but you’re reinforcing a scarcity mindset that will continue to plague you for years if you let it. 

 

Rather than pinching pennies, learn to spend money strategically. Buy what you need, when you need it. Invest in top-quality products and programs rather than settling for the low-ticket, half-baked plans. Just like quality clothes, cars and furniture, quality services and software last longer and work better. And unlike that car, good quality business tools will pay for themselves.


Sunday, March 28, 2021

Get lifetime access to GroovePages now!

 

 


 

In this day and age, any business that wants to thrive must go online.


With so many things going on around the world, and global changes that will forever impact the way people live and do business, going online is no longer just an option.


Not only to maintain their success, but even just to survive.


Sure, there are tools that are already available that any business can use to run their entire company and processes digitally.


However, any minimum amount of research will tell you that most of these products are expensive, complicated and limited in customization.


In other words, not very user-friendly, and definitely not suitable for all business owners, especially those who are less tech-savvy and might even be on a budget.


I mean, who can afford to invest thousands of dollars a month into a bunch of complicated tools, and on top of that, hire employees to manage the systems, right?


Well, if this sounds familiar in any way, I have some good news for you.


As an online marketer and blogger myself, I am always looking for new solutions for these everyday challenges we face as business owners.


Today, I am very excited to introduce you to my latest discovery.

 



GrooveFunnels is, by far, the best way I have found to be able to build websites, sales funnels and sell digital products online.


The best part? It’s FREE.


But the free value does not end there…


You see, GrooveFunnels is not just a website and sales funnel builder.


The co-founder of GrooveFunnels, Mike Filsaime, is actually a veteran in the Internet marketing space, and has put all his experience and expertise into one of the best suite of marketing tools I have ever seen.


I’ve also signed myself up for an account (it’s free), and for the past few days, I’ve had the chance to play around with it.


And you know what?


I can definitely tell you that this 100% free tool is perfectly capable of running your entire business, maybe even better than some of the expensive complicated tools out there.


I’m not exaggerating by any means…


From what I’ve seen so far, GrooveFunnels includes everything that I need to run my online business, all for absolutely free.


Here’s just a quick list of what I’ve gathered so far:


  • FREE sales, page and funnel building platform
  • Possible to build my own branded websites with full navigation
  • Can integrate with my own custom domain name
  • Able to sell my products with what they call a 1-click upsell
  • Capability to integrate upsells, downsells, and order bumps
  • Even has a way to create my own powerful affiliate program for my products!


And that’s just for starters, because there is so much more for me to explore!


I’m not even joking when I say that I am planning to change my ENTIRE online business over to GrooveFunnels!


I mean, why wouldn’t I?


It’s FREE, and it’s probably the BEST suite of marketing tools I have ever seen in my life.


By the way, there’s more…


I didn’t even mention some of my favorite benefits of GrooveFunnels.


As a member, I’ve also received a TON of community benefits.


I’ve been able to join their private Facebook group, connect with marketing experts inside, get help with all my problems, access private training within their own academy, ask questions through their help desk, and meet other like-minded entrepreneurs just like me to make the best use of these tools.


So, if you’re like me… Striving to grow your business, looking to learn more about marketing and getting to know some of the best in the industry at a more personal level, then you won’t want to miss out on this opportunity.


Sounds great, right?


But you might be asking… what’s the catch?


The catch is that GrooveFunnels is free, but for a limited time only.


GrooveFunnels is in its pre-launch phase, which means that many of the products have still yet to fully launch.


When they do, and as the products continue to get upgraded, GrooveFunnels may no longer be free anymore.


This means that now is the time to sign up for your free account, which would also qualify you for the additional software upgrades that they make as time goes on.


Awesome deal, right?


It’s called being at the right place, at the right time.


And that’s where we’re at right now :)


Don’t wait any longer, because I’m honestly not sure when this free offer is going to go away.


Do yourself a favor and sign up for your free GrooveFunnels account right now, and I will see you inside of the Facebook group.