How I used my tax refunds to improve my life and business.
You are your first investor.
If you're an aspiring woman entrepreneur, that means you're dreamer and a goal-getter! If you're wondering how to bootstrap your business launch, with your income tax refund this year, keep reading. This may help to reduce some of your "business anxiety" around being able to start your business venture this year!
Picture this, in the Fall of 2014, I was a counselor at clinic, with my own office (my first office yay!) and a flexible schedule. The pay was good, so I started planning how to spend this money. I had my daughter in private school, plans to become a homeowner and to travel!
Life was GOOD.
Unfortunately, by the winter of 2014, I was laid off from what I thought was a secure job.
So you can imagine, this lay off, happened at the worst possible time in life. I had no plan, no other income streams and wasn't even thinking of entrepreneurship at that time.
Can you can relate?
Although, I felt betrayed, angry, anxious and depressed. I worked through my depression, because, I learned that you can't be fired from your gifts.
In March 2015, I got the courage to incorporate, my very own online business (Side note: Thank you for laying me off!) I was anxious and excited "Anxcited."
There were two big problems.
I wasn't taught how to run an online "business".
I didn't have money or an investor.
I used my income tax refund check, to become my first business investor.
You reap what you sow.
You may see women entrepreneurs online, "killing it"! They have followers and those followers convert to clients.
They are speaking at events, their videos and blog articles are on your timeline and eventually you feel like you see them everywhere and they just keep winning! That's because they are in their harvest season.
If you don't plant seeds, there will be nothing to harvest. (Hint:This article is a seed) Writing an evergreen article, is useful, because it can be searched online and found by your potential customer for years to come.
Many times, I hear women entrepreneurs complain that, they are not getting any phone calls, messages or emails.
When I ask them, about their marketing activity online and networking offline, they respond with "not much" or "not consistent".
In the beginning, I was that "woman entrepreneur" not doing much, not being consistent and the result was, I made these $000,000 in 2015. Just because you "started a business" doesn't mean you will make any money.
It occurred to me that I needed to invest, WAY outside of my comfort zone.
Do everything in your ability to ensure that your business is a success, even if it requires planting seeds in fields outside of your comfort zone.
In 2017, I got in my car and drove 5 hours, by myself, from Ft. Lauderdale to Tampa, FL to attend a women's business conference/retreat.
This one MASSIVE leap, way outside of my comfort zone changed my life and business!
I learned all the things I didn't learn in undergraduate or graduate school.
How to launch your online business.
How to market your online business.
How to create systems for your online business.
How to close sales for your online business.
How to provide good customer services and customer retention.
I invested my tax refund in a women's conference and business coaching group.
Your personal development is imperative.
I knew what to do, I knew how to do it, but now
....Now, when it was time to ACTUALLY do it, I was SCARED silly.
Business Anxiety, Fear of failure/success, Impostor Syndrome, Social Media Anxiety.
The personal issues in my life, were feeling like road blocks and dead ends.
All kinds of things from my childhood, things buried in my subconscious mind were being triggered by my business. It's funny how that happens, but the mind is complicated.
The LACK of money to invest in the business made me feel like quitting daily...
Your business success actually lives and dies in your mind.
I felt like a failure. So whatever I worked on failed.
Who would've known how "emotional" entrepreneurship is?
Afraid no one would support, or that people would come after me, or I would mess up and make a mistake and get in trouble.
My MIND was causing me to self-sabotage, miss opportunities. Not return calls, not follow up, not promote, not stay focused, not show up, not be consistent.
I got help through therapy and coaching. I needed to work through past traumas, learn coping skills, rebuild my confidence and develop a business mindset.
I did not want my emotions to keep getting in the way. I know that this will be an ongoing process. Even Oprah has had a Life Coach. I learned that many successful women entrepreneurs have a therapist and/or a life coach to keep them "mentally strong".
I used my income tax refund for personal development and mental health.
What women entrepreneurs invest in?
I figured I should do some research on what I needed for my business, of course there were things like business cards and websites.
Can I be honest?
Business cards and websites are not the most important things you can invest in.
After, being coached by multi-six figure and seven figure coaches, proteges of the greats like Paul Brunson and Kim Coles, I studied the things they invest in, to sustain success. They are always investing and re-investing in their personal and professional growth.
Check out this article "5 Ways Women CEO's are investing in their business."
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About The Author:
Seneca Williams, LMHC, CPC, therapist and coach, is the Founder of the premiere membership network for women, to address entrepreneurship and emotional wellness. The Conquer Network was birthed, when she realized the distinct connection between an entrepreneurs success to her emotional wellness and mindset, which is not addressed in traditional business coaching. She helps women entrepreneurs, build confidence and improve their emotions, to improve their productivity as an entrepreneur. In the network, entrepreneurs gain strategies on personal growth and entrepreneurship from industry experts.