April 3, 2025 • 38 mins
Many new business owners OVERSPEND when getting started. In today's episode I'm sharing 3 sneaky ways this happens & WHY many of you do this. READ MORE HERE
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Well, hello.
This is Kimberly Brock, and forover 20 years I've been running
my own businesses that have notonly been profitable but
personally fulfilling to me.
So now I'm on a mission to helpother new business owners, just
like you, make money doing whatyou love to.
Now we're going to have somefun, so let's get started.
Speaker 2 (00:24):
Well, hello, this is Kimberly.
It's episode 286, and I'm soglad you are here today because
we're talking about a very, veryimportant issue, and that is
the overspending epidemic thatexists among new business owners
.
You may be in this bind.
You may find that you've beenspending money on things that
(00:48):
you didn't need to, or alreadyregretting some big purchases,
and we're going to talk aboutthem today.
I'm going to talk about theways that I'm seeing new
business owners overspend andI'm going to get to the root of
why you're doing it, becauseit's not about the shame, right?
It's about learning from whatyou're doing and stopping
(01:09):
yourself and making smarterchoices going forward.
So that's what we're going todo today.
I'm so glad you're here.
If you're new, welcome.
I'm so glad that you found thispodcast.
I have no doubt it's going tohelp you along your business
journey along your businessjourney.
If you are a new business owner, know that I have party favors
(01:30):
for you.
I do.
I have free goodies that arejust waiting for you right now.
So if you scroll down in theshow notes, you'll see the free
tools or free resources linkeddown below.
If you're in the idea stage of abusiness, trying to like figure
out what type of businessyou're meant to start.
Make sure you grab my iKigaiguide.
I don't know if you've everheard of iKigai, but it's a
Japanese term that means areason for being.
It's basically asking yourselfwhat is my business purpose?
(01:52):
And the iKigai guide is goingto help you, so make sure you
check that out.
People tell me they absolutelylove that guide and it was just
so insightful and enlightening.
If you're starting yourbusiness, I have a 16-step
checklist, so no more scramblingaround trying to piece together
all the things you need to bedoing to get your business
started.
I've got a checklist for you.
You can start working throughit.
People tell me they keep it outon their desk and they were so
(02:14):
thankful for it, so make sureyou get that.
If you're looking to start apodcast, I've got something for
you.
I've got a workshop to help you, so make sure you check out all
of that below.
I don't want you to miss out onanything.
Plus, I've got a free Facebookgroup.
It's called Women StartingBusinesses and Podcasts Doing
what we Love so make sure youget in there and you can ask
questions and get help.
I would love to have you in thegroup, so do all that and you
(02:35):
will now be officially pluggedin.
And if you've been listening awhile, thank you so much to all
my loyal listeners.
Y'all are so kind.
Thank you for the reviews.
I know that it's helping bumpthis podcast up and show it to
more people like you who justwant to make money doing what
you love and build a businessthat's fulfilling and impactful
(02:56):
and fits in this season of yourlife.
Right, right, because it's gotto fit in this season.
If it doesn't, then you'rebuilding the wrong business.
It's got to fit in this seasonof your life.
I can't say that enough.
Also, too, if you've beenlistening a while, make sure, if
you have a second, to hit thefive-star rating Maybe you're an
Apple podcast or Spotify or anyplayer that you just hit the
(03:19):
five stars.
That's all you have to do.
It takes one second.
Or if you have 30 seconds towrite a written review, that
would mean the world to me.
Also, too, everyone new,veteran make sure you subscribe
to this podcast An Apple podcastnow.
I think.
It says follow.
I think it has a plus buttonand a follow.
They've changed it severaltimes over the years what it
(03:41):
says when you find a new podcast.
So I think it's up in theright-hand corner.
If you're looking at a podcast,maybe there's a checkmark.
So make sure you hit thatcheckmark so that you follow
this podcast and you don't missout on any future episodes that
I know are going to massivelyhelp you as you build your
business stream.
So that is it, okay.
On to the episode.
Hi friends, how are you,no-transcript telling people
(04:53):
that you have a business oryou're sharing about your
product or service and you'relike I feel so weird right now.
Like, am I being icky?
Am I being a weirdo?
Do I sound stupid?
Do y'all?
Am I the only one that'sthought that?
Is it just me, or is it?
I pray that it's y'all too.
(05:13):
I'm not the only one.
No, I know that y'allexperience this because you tell
me, but it is.
It's weird when you startputting yourself out there, but
it's so freeing, I think, whenyou get your words together and
you know what to say and youstart feeling more confident.
You have a little pep in yourstep, things just start going
really well and it's the bestfeeling in the world.
But today we're talking about aserious topic and that's about
(05:36):
overspending.
Okay, and I'm going to gothrough the the 3, these are
more broad areas that I seebusiness owners like you
overspending right now, in thebeginning of your business, and
I think it's important that youare aware that you can overspend
right now, and I know some ofyou are willing to throw money
(05:58):
at things.
I know when I was starting mybusiness, I had a chunk of cash
to start this business and so Iwas a little bit less discerning
that I might have been had Ihad less money to spend, okay,
and so I was able to do that.
It did fast track my success.
But down the line there werethings that I've actually
(06:19):
overspent on, which I'm going totouch on here in a minute.
But I would just want you tostop and think.
Before any purchase you make inthe beginning of your business,
make sure that it's somethingthat you actually need, okay,
that you actually need right now.
It's going to save you time.
It is the direction that you'regoing with your business.
(06:41):
It's a smart decision.
You could defend it if I askedyou.
If I asked you, I'm standing infront of you and saying, ok,
tell me why you want to purchasethis.
Not to be annoying Again.
I'm not trying to be annoying.
I'm not trying to be yourparent, I'm not trying to be a
spouse, I'm not trying to be anyof those things.
I'm just trying to be thatlittle, you know birdie on your
(07:02):
shoulder talking to you, makingyou think before you do stuff to
help you right.
The good, the good littlebirdie on your shoulder trying
to help you.
You look for a website platformand some of you will
automatically buy the yearlyplan, like you start building
(07:33):
your website, maybe yourself.
Okay, here's one way.
There's a couple ways that Isee you overspending with your
websites, but number one withyour websites is some of you are
jumping into like a yearly planbecause you see it saves you a
few hundred dollars or whateverper year, and I would not
overspend and do that right now.
You know why Because thewebsite platform that you start
with is probably not gonna beyour last website platform.
(07:56):
I think almost all of thepeople that I've been helping
have started out with onewebsite platform.
Their businesses evolved andthey moved into another one,
except for, I'm trying to think,some product sellers that maybe
started out on Shopify andtheir business grew and it was
able to grow with them.
(08:16):
So Shopify has worked for, forproduct sellers in the beginning
, but I'm thinking kind ofmainly of coaches, digital
digital products providers,consultants, service providers.
Before you buy a yearly plan,make sure you just test it month
per month.
Now a lot of them will have atrial which you can test the
(08:40):
software platform.
Make sure you like it.
Maybe you're testingSquarespace or Wix.
That's what I did with thisbusiness.
I started out on Wix.
I actually switched toSquarespace within like a year
and then I moved to Kajabi andI've been on Kajabi and I kind
of had mixed thoughts, honestly,for a while about Kajabi
because it was so expensive Imean, it's like $200 a month.
(09:02):
But now they have recently madeso many awesome updates and I
know this is a side note but ohmy gosh.
Now to me it's totally worth it.
With the email, with thecommunities, with the course all
that stuff course platform, Ithink I'm set and I feel much
happier with my $199 a month.
(09:24):
Feel much happier with my $199a month.
Now here's the funny thing isthat you can save $400 a year if
you do the yearly, and I neverwould do the yearly.
Oh, I take that back.
I think I did do the yearlyafter I switched to it from
Squarespace and was like this isit?
This is my one, because I don'twant to be piecing all these
things together email and allthat.
Anyways, I think I did it forlike a year and then I did
monthly because I was like maybeI'm going to change, because I
(09:45):
told you I wasn't super duperhappy.
But now all of a sudden I'mlike, yes, so I should probably
go ahead and move to the yearlyplan.
But even I am a little bitskittish on doing the yearly
plan, because I always love totest latest and greatest and I'm
always testing stuff and I keepthinking, oh, what if I change
to this, or what if I startusing this tool?
Anyways, I know I'm crazy, butI'm trying to tell you that in
(10:09):
the beginning of your businessexcept if you're maybe a product
seller and you're starting onShopify you'll probably stay on
Shopify, but everyone else mayswitch.
Okay, you may switch.
So don't buy the yearly planright away.
Stick with the monthly untilyou know this is good, you
(10:32):
started building it out, you'retesting it and you're like, ok,
I'm good, I could maybe spendthe money on the yearly plan.
The other thing having to dowith website platforms, I'm
seeing.
Some of you believe that you'vegot to have the fanciest
graphic designer ever for yourwebsite, and a lot of you do not
need this.
Now.
If you're a luxury brand, ifyou're something that's very
aesthetic maybe you're a homedecorator or something like that
you can still have a websitethat is not this grand Taj Mahal
(10:59):
of a website.
You can have something great tokickstart your business, start
getting income coming in, andthen you can invest in a more
grand website.
And here's why Because in somemonths, after selling what
you're selling, you are going tohave a much better idea of what
your brand is actually about.
(11:20):
You have a vision right now, inthe beginning, of your brand,
of what you think it represents,but you will be surprised.
Some of your color tastes maychange for what you want to use
for your branding.
You just may decide you'reselling something different.
You may need more capabilities,so you will be surprised how
(11:41):
your business evolves.
So this is my recommendation formy clients.
This is what I tell them incoaching.
It's like let's get this goodenough, let's make a good
impression.
I don't want you to look like aschlub Okay, no schlubbing with
your website.
I'm just saying you don't needto hire the world's top graphic
designer right now.
I think you can find someoneyou know.
(12:02):
I think you can look on Fiverr.
You can ask me, you can askpeople in the group and let's
see who we can recommend to you.
That is reasonable for rightnow to get something up that
makes a good impression, that'sfunctional for today, for what
you offer today.
Okay.
So number one again, I seepeople overspend on websites
because you will buy a yearlyplan and then you'll be mad
(12:22):
because you're locked in ayearly rate and you'll feel
weird about switching and itwill cause all kind of mind
drama.
And then some of you overspendon designing it, unless caveat,
you are a luxury, high end brandand you need like the best.
But I think you can make a logoon Canva.
You can get people on Fiverrand others.
You know there's other smallbusiness freelancers that help
(12:45):
with logo design and all of thatbecause your budget right now
is not what, like, a massivedepartment store or a big
restaurant would have.
Right, do you agree with me onthat?
Like you're not, you're a smallbusiness getting started.
So I'm just saying let's besmart about this purchase right
now and get it good enough,which is very hard for some of
you who are like good enough, no, I don't want good enough, I
(13:06):
want the best, and I understand.
But you can make it good enoughwhere you make a good
impression.
It's a clean site, it hascolors that you like right now.
It sells what you need it tosell right now and then, as your
business is, is shaping itself,is growing up, is maturing,
then you can invest in thebetter website, okay, okay.
So number two is buying courses, templates, programs that are
(13:32):
not applicable to an early stagebusiness owner.
Are you hearing me?
So many of you are wanting tobuy all the things right now,
especially if you have the moneyto buy all the things, but you
think that if you get all thecourses and all the things, you
(13:55):
are guaranteed success.
Here's the deal.
I remember someone told me thisa long time ago and it is a
total fact.
So I was getting into portraitphotography and my husband had a
good friend who was so amazingy'all so amazing I think I've
talked about him before on pastepisodes so talented Shout out
to Greg so talented.
And I had, like this fancycamera I'd saved up and a really
(14:18):
good lens and he was takingphotographs 800 bazillion times
better than me.
Okay, I was trying to takepictures of my kids, but he did
a lot of people and animals inother countries where he
traveled.
So amazing and found out he hada point-and-shoot camera and,
(14:40):
sure enough, he's in NationalGeographic now and he has a
really good camera, but he had apoint and shoot and was amazing
.
Okay, so this applies to you.
Right now.
You think you need to have andbuy all the things, all the
(15:01):
bells and whistles, every tool,every electronic equipment,
every course, every template,everything that's being thrown
at you.
You think that if you have that, that's going to make you
amazing at your business, it'sgoing to be successful, and the
truth is it's not.
Okay, there's a lot of thingsthat go into successful business
(15:22):
that you have to do, but youwasting money on courses,
templates, equipment, whateverthat is not applicable to you
right now is a complete waste ofmoney.
Okay, you're just throwingmoney away, you're overspending
and you don't need to Getexcited that you don't have to
(15:44):
have all the things.
I'm seeing a lot of new businessowners get sucked in because of
the marketing that's beingthrown at you.
Every day I'm getting marketingthrown at me, so I know you're
getting it thrown at you.
You're getting ads and allkinds of stuff and stuff on
email, and everyone's good atemail marketing.
Now, because of ChatGPT, theads are going to get better and
(16:04):
more targeted.
It's all going to get betterand better.
It's going to suck us in evenfaster.
Amazon's going to suck us ineven faster.
Somehow, I'm sure, when we'rethinking about something, it's
going to appear on our feed herepretty soon.
We're not even going to say itout loud.
Alexa's not going to belistening, siri's not going to
be listening, nobody's going tobe listening, but it's going to
read our minds and it's going toshow us ads of stuff that that
(16:27):
we don't need at our stage ofbusiness.
Because this is what'shappening.
I'm seeing y'all buy thingslike this.
Okay, I'm going to give yousome examples that are not for
your stage of business.
Okay, I've seen my clients buyhuge programs to create a course
or a group program and theydon't have the audience yet to
(16:50):
be able to fill it up.
Now you're saying, oh, but Ineed to have that so that I can
then build my audience, and whatI'm finding is that a lot of
you could be doing one-on-onecoaching or much simpler things
right out of the gate, withoutbuying that big course.
You start actually working withpeople and talking to people
and understanding their problemsso you can create that program
(17:12):
or course.
And then, once you have thatgoing along and you're getting
one-on-one coaching and you'redoing maybe a live workshop or
something simple that doesn'tcost you hardly anything, then
we can start building out thecourse, because now you have a
lot of data from everything thatyou've learned from working
with people.
So I see a lot of peopleputting a ton of money into that
(17:33):
in the beginning and and theydon't get a lot of sales after
in their programs or theircoaching because they don't have
the audience to support it.
You have to have a big audienceto support these things.
Okay, most of the time like abigger audience than you have
right now.
But if you already have anaudience, okay, maybe you won't
be wasting money on that.
(17:53):
But I'm just telling you for the, for the new business owners
that have never really beenselling what they're selling.
They go out there and they'relike I'm going to create this
big old group program and I'mlike but how are you going to
keep people coming in?
We've got to dial it back andwe need to get you doing
one-on-one coaching, workingwith people in the most simple
way possible, right?
I've seen my clients buy hugeemail marketing programs when
(18:15):
email marketing is so important.
I'm a believer you have to haveemail marketing.
I had it right out of the gatewith my podcast, my business
here.
But they don't even know how tosend an email right now and
they don't have funnels set upand their business isn't really
made for this advanced of emailmarketing program.
Does that make sense?
I've seen them buy complicatedsoftware, funnel software and
(18:39):
funnel building programs, which,again, are amazing, but for a
lot of you it's not needed rightnow.
We've got to get used toprocessing an order You've got
you.
You've got to get used tocoaching somebody or showing up
at a vendor show or hosting aworkshop or doing something live
before you can build out thiswhole gigantic funnel by
(19:02):
yourself.
Do you see what I'm saying?
And the other one is I've seenclients do huge, very expensive
Facebook ads courses so thatthey can run them themselves,
when they don't even really havetheir product ready.
They don't have their messagingready, they don't have their
value proposition ready, theydon't really understand the
(19:24):
competition.
They don't understand whypeople need to buy their stuff.
They don't know how to sell ityet, yet they're spending a
bazillion on how to learn how todo Facebook ads.
Y'all.
Facebook ads are difficult.
You have to either hiresomebody to do it for you right
now or and like, set all that up.
(19:44):
It will be very expensive oryou risk just losing your money.
I've seen clients lose so muchmoney on Facebook ads.
Now, caveat, there's some of youthat have hired.
I've heard there's like $10,000programs, $20,000 programs that
will basically set up yourbusiness for you and do all that
.
I'm not talking about that.
Some of you may want to investin something like that,
(20:05):
depending on how you're going tobe running your business.
Right, that's a whole, notherconversation.
But I'm more talking aboutthose of you that are doing it
on your own and you're like Okay, I need to know how to be a
Facebook Ads expert.
Is that really the businessthat you are in?
Answer that question Are youreally in the business of being
a Facebook ads expert?
You're not, okay.
(20:26):
So that's just an example.
All these courses and templatesare just not applicable.
And you're buying all theseadvanced things for social media
.
I've just y'all.
I've seen it all.
I've seen it all and I'vefallen victim as well.
So I'm not I'm not blaming you,I'm not shaming you.
I'm saying I'm here too, butbut at least in my favor.
(20:49):
I have a lot of a businessexperience, so these programs
can be very valuable to me,although some of them are still
not worth it.
Okay For you, you're in the verybeginning stages of business.
Okay, there's things that youshould be spending money on
We'll talk about that next weekbut right now, you need to focus
(21:10):
on getting your product readyand talking to real people and
having real users and testers.
Like that's really what youneed to be doing If you want a
process for starting yourbusiness and going from idea to
launch.
Make sure you get my JustGetting Started Bootcamp.
I have the five steps, which isyour fast track to first sales,
(21:31):
and I keep you focused on allthat matters right now, so you
don't spend extra money on stuffright now.
Okay, but anyways, I'm seeingy'all spend money on advanced
trainings and programs that arenot applicable to new business
owners like you.
So watch out.
Before you go purchase anything, ask yourself is this perfect
for my business right now?
Is this what I need right now.
Do I need to be spending thismuch money right now?
(21:53):
Please, please, think about itbefore you do, okay?
The third big thing that I'veseen clients waste money on is
ads.
Okay, I know I just mentionedit and you're like you just
mentioned this in courses andtemplates.
I did, I just mentioned it.
But what I'm talking about isyou just throwing money at ads.
(22:16):
I've seen you just let it runbecause you don't really know
that much about Facebook ads andyou're just letting it run in
Instagram ads and just putting$20 a day, thinking, oh, that's
not that big a deal, but thenyou forget to turn it off and
you've got $20 a day going andit's not turning to any sales.
There is a strategy that has tobe in place for you to get good
(22:40):
at Facebook ads, and I'm tellingyou from personal experience.
So, back when I ran my onlineboutiques, I had In this Very
Room and KidsAreFans2.com.
Those were my boutiques andthere were, I think, a few times
that I attempted ads.
They never worked out.
They.
They never worked out.
It just was money thrown outthe window and, in fact, I can't
(23:03):
remember if I've shared thisbefore y'all.
I found out like after somemonths.
I was so busy with mybusinesses, like so busy, and I
wasn't checking my like creditcard bills for every charge that
came through for like months.
I mean, I may have seen certainthings, but there were Facebook
ads running that I didn't turnoff.
That cost me hundreds andhundreds of dollars and it may
(23:26):
have even been thousands, Icannot remember right now.
I didn't turn them off and theyweren't bringing in sales.
Like you could look at theconversions.
There was not conversions,literally one of the most
frustrating things.
I don't want that happening toyou.
There is a strategy to Facebookads.
You can learn, you can learnonline and all that.
I've actually taken a programto help with Facebook ads and
(23:51):
even then and it was very, veryexpensive even then it hasn't
worked for me and I'm just beingtotally honest, I need to hire
somebody.
I decided if I'm going to runads, it's going to be when I
have everything completely set.
You know, I just added myPassion to Podcast course and
I'm just kind of building thisout and I want this all set
(24:14):
before I start running ads intoa funnel that's non-existent.
Like I have to have the wholefunnel how people move from like
business idea to business plan,to starting their business, to
growing and maybe growing withpodcasts as an add-on, right?
So even I am waiting on thatBecause I know that you can lose
(24:36):
money so easily.
I've run just lead ads where Ijust try to get leads for my
16-step checklist and thingslike that, and I got a ton of
signups but again it wasn'texactly the right people.
So there was things that neededto be tweaked in my ads to
attract the right people anddeter the wrong ones and make
(24:59):
sure that they're buyers, thatthey're the type that would be
buyers, and it's hard y'all.
It's a game that you play.
You can talk to anyentrepreneur.
A lot of them lose money in thebeginning of ads, and so what I
don't want is you thinking thatthat's the ticket for you right
now, if you're trying to learnthis on your own.
Again, I'm not talking aboutthose of you that have hired
someone to do your ads and allthat and even then it can be
(25:21):
hard to make a profit right away, because you're paying their
fees and you're paying all thead fees.
What I'm telling you is justthrowing money in ads and like
boosting a post Y'all.
It doesn't really work?
It doesn't really work.
You have to have a way to drawattention that works on social
media.
That already works, and thenyou leverage that with ads.
(25:45):
Does that make sense?
So maybe a post that's alreadyworking, that's doing well, you
could turn into an ad, but stillyou need to know what you're
doing.
My point is I just don't wantyou boosting any and all posts
and just like going I'm justgoing to go for it Like I'm in
Vegas and I'm just going to rollthe dice and we're just going
to just hope this hits and itdoesn't.
(26:05):
It doesn't.
Okay, you got to know whatyou're doing or have someone
helping you who knows what to do.
So again, here's the three waysthat I see.
In general, y'all overspending,okay, and then we're going to
talk about what you can do aboutit.
So, or where it's coming fromthe actual the truth of it.
(26:27):
So number one is with yourwebsite design, website
platforms, paying yearly, rightout of the gate.
Don't do that Pay per monthbecause you may change platforms
at the beginning, except I didgive the exception of those of
you that are maybe on Shopifyand starting.
That will grow with you ifyou're selling physical products
.
I've seen y'all wasting money oncourses and templates and all
(26:51):
kinds of trainings that are notapplicable to new business
owners that you are not focusedon what you should be doing now.
You're still thinking way ahead, which is great.
I love that.
I'm that kind of person Like Ikind of want to know what's up
ahead, but you can't right nowbecause you will waste so much
money.
Those programs will get moreand more expensive, and I don't
(27:11):
want you wasting money on stuffyou do not need.
So again, pretend the next timeyou're going to buy something
online.
Pretend that I'm just going tostand there and go Okay, can you
tell me why you believe thatyou need this and see if you can
defend it?
Just see if you can defend it.
If you can, then I'm with you,I support you, but if you can't,
then you have to tell yourselfno, you have to have
self-control.
(27:32):
And number three is ads.
Please do not just boost any ad.
Throw money at ads if you don'tknow what the heck you're doing
.
You are going to waste money.
You're better off trying to getgood at social media or another
way YouTube, blogging, apodcast, some other way to try
to get seen.
(27:52):
Now, if you're a product seller,instagram is probably going to
be your best bet because you canshow off pictures of your
products and all that.
But if you're a coach andconsultant, maybe it is
Instagram for you, maybe it'sTikTok, maybe it's LinkedIn,
maybe it's a podcast, maybe it'sYouTube.
Y'all know I can help you starta podcast.
To me, it's the best way togrow your business.
Right now.
I'm biased because it takes meless than 2 hours a week and I
(28:14):
get leads every single day frommy podcast and people you know
can develop the know, like andtrust factor with me, and so I
love that more than just socialmedia.
Okay, but that's me and I'mseeing.
You know, as I said, that y'allare just throwing money at the
ads and I don't want you to dothat.
There's got to be a better wayright now, and then you can
(28:35):
either hire someone as you havemore income coming in, or you
can learn on your own, like Idid.
I paid thousands of dollars fora Facebook ads program program
(28:57):
and I think the content wasamazing, but I may have not been
at the point that I needed tobe before taking that.
I think it could have been muchmore valuable later, when I
have my full product suite builtout, and I do think I could be
running lead ads right now.
So there's things I can bedoing, but the podcast is
working and I'm comfortablewhere I'm at right now.
So you have to decide that foryourself.
(29:18):
So let's get to the root of whyy'all are overspending.
Okay, let's just talk about thetruth so that you can identify
the reason why you may beoverspending.
If you've found that you puttoo much money into stuff right
now or you've, you can see yourexpenses are way higher than
your revenue.
Is it because you lackconfidence?
Is it because you're notconfident in what you're selling
(29:41):
and you're trying to find otherways to gain the confidence?
If it is, the only way to gainconfidence is to actually work
with people and to start talkingto people, putting yourself out
there, start getting moreclients, maybe even offer
discounted rates so that you canget testers, you can get
feedback, you can start creatingbuzz.
That's how you gain confidence.
(30:01):
You don't gain confidence bybuying a million things that you
don't need right now orspending way too much money.
In fact, that's going to loweryour confidence.
Okay, a lot of you areoverspending because you have a
fear of doing it wrong, and Iunderstand, like we don't want
to build our businesses wrong.
But if you really have a fearof doing it wrong, then where
(30:25):
should your money be spent?
This will lead into next week,but where should your money be
spent if you're scared of doingit wrong?
You should get a coach.
You should get a strategist ora mentor, a friend, a neighbor
who's a business owner.
Get someone to give you thepath and share it with you and
talk you through it for yourbusiness.
(30:56):
Many are sucked into templatesand steps that are not for your
specific business, for whatyou're selling, for your
personality and gifts for thisseason of your life, and that's
where we get into trouble.
We think that all the templatesand all the things will work
for us when in reality we're at.
You know your business is asunique as you are.
Okay.
Okay, I think a lot of you havea fear of avoidance where maybe
(31:18):
you just don't want to learn oryou just are like avoiding
doing stuff and so you're justthrowing money, like maybe it
adds, are you avoiding puttingyourself out there in other
authentic ways that you thinkads will allow you to avoid?
All of that Like are you tryingto avoid and are you trying to
(31:43):
find, like a get rich quicktactic?
You'll know, if you've listenedto me for a long time, I don't
teach that I wish I knew a getrich quick tactic, but I don't.
All the business owners that Iknow, including myself, have to
work hard and it takes a while.
Okay, now, if you're selling ahot product that is super
(32:05):
popular right now and peoplewant it, you may be able to get
a lot of sales right now.
Okay, and it would have to besuper trendy and you will have
to catch it fast.
See, in my days back when I washad my online boutique, stuff
wasn't changing this fast and wedidn't have all the social
media stuff, so so the trendsweren't flipping so fast in the
in the new right.
But now, if you're on anysocial media and you're like
(32:27):
something is new and it's hot,and then something else comes in
right after, so you can ridethat train I think you should.
If you sell something that ispopular and needed right now or
you can offer it in yourbusiness, then do it, because
you can ride that gravy trainand leverage that for a little
while.
But there will be a new trend.
(32:47):
There will be new something,but there's no get rich quick
scheme Like you're going to haveto build your business from the
ground up.
You're going to have to dothings right strategically and
be smart about it Right.
So again, let's look at the realreasons why you may be
overspending.
So if you today have beenrealizing that you've just spent
way too much preparing yourbusiness for launch, or you've
(33:08):
already launched and you're justnot getting the revenue, you
have to ask yourself why did Ido that in the past so that I
don't do it again in the future?
Was it because I didn't feelconfident in what I was doing?
If so, you probably need acoach or strategist, someone
like me, a mentor.
If it's not me that you'rehiring, but someone who does
what I do is what I mean thatcan help you.
Now I'm honored to help you.
(33:28):
I'd love to help you.
Y'all know I offer one-on-onecoaching.
We can do a one-hour strategicsession that may help you sleep
better at night and finally takea sigh of relief and go OK,
good, I'm doing this right, butI need to shift gears on this
right.
A lot of you have fear of doingthings wrong, and I understand
that, because I don't want to doanything wrong either, but
(33:49):
don't be reaching at straws andjust trying to throw your money
at anything because you'rescared that you're doing it
wrong.
I think if you either have acoach or you have a proven path
that's before you.
That's very simple, that'stailored for new business owners
getting going, then you don'thave to have the fear that
you're doing it wrong.
You will know, you will feelconfident.
Also, you have to ask yourselfam I avoiding trying to learn
(34:13):
about business because I just sobad want to be my own boss and
I just want to get this goingand I don't want to be
embarrassed that I'm a newbusiness owner.
I'm just avoiding all the stuff.
I don't have time.
If you don't have time, thenyou got to ask yourself if you
don't have time at all for yourbusiness, then why are you doing
this this season of your life?
If you do have some time, thenwhat's the rule?
(34:34):
We do it in the moststreamlined and simple way
possible for this season of yourlife.
That's my whole theory forhelping you with your business
Simple, streamlined, strategic.
It's for this season of yourlife, okay.
And the other reason why you mayhave been grasping at straws
and trying to buy all the stuffand throw money at things is
because you want to get richquick scheme, and I hate to tell
(34:56):
you there's really not A lot ofthose are high-pressure sales
unless, unless you've gotsomething that you're selling
that is so trendy and popularthat it will fly off the shelves
, and that happens.
That would happen with me whenwe would have styles of jewelry
and bags and things like that,backpacks and all that that were
(35:17):
super popular and they wouldfly off the shelves and it was
amazing and it was likehallelujah, right.
But if you don't sell somethingthat's like so trendy at the
second, just know it's not goingto be super fast, it's going to
take you building it.
You are in the business now ofsharing your business with the
world and showing up and talkingto people.
It's hard because we just wantto be in the business of what we
(35:38):
do right, because we love whatwe actually do.
But you are in the business ofnow sharing your business,
promoting it, putting yourselfout there.
That's the reality of abusiness.
Otherwise it can just be ahobby and you can do what you do
and have a blast and don't getpaid for it.
You're in it for a business,you have to be putting yourself
out there, you have to be doingall the things.
So, anyways, I know this waslong.
(36:00):
Thank y'all for sticking around.
Next week we're going to talkabout what you should be
spending your money on, but Ithought this was good to just
wake up to what you shouldn't bewasting money on, or what I've
seen, and then really getting tothe root of why you're doing it
, so that you can stop yourselffrom now on, before you make any
purchase, before you type thatcredit card number into the
little field on the website,when you're about to buy
(36:22):
something that's $37, $47, $97,$2,000, whatever it is.
It should be applicable to thisseason of your business.
Right now, this stage.
You're a new business owner andit should fit that there's
enough years left for you tospend money on all sorts of
things in your business.
(36:42):
There is plenty of time forspending later.
Right now is a time forperfecting.
Well, I don't even want to usethe word perfecting, because
you'll know about imperfectaction, but I'm saying in your
terms perfecting.
I say that in air quotesbecause you'll always say I can
perfect it later, you canperfect it later.
Right now we're getting thefirst rendition out.
We're starting to sell that,we're getting social proof,
(37:05):
we're getting testimonials,we're seeing what's wrong.
We're fixing it, we're refiningit, we're tweaking it, we're
putting ourselves out there andthen we can go gangbusters and
do whatever you want with adsand all the stuff.
So that's it.
Thank you all for listening, andif you do need help for your
business, please check out myprograms below.
I have some self-studyworkshops and courses you can
(37:25):
grab right now that areapplicable to you.
They are perfectly made for newbusiness owners like you, so
you don't have to worry thatyou're overspending or wasting
money.
They were made for you bysomeone who understands what
this is like.
I've been doing this for a longtime 25 years and I absolutely
love it and I'm here to help you.
So that's it.
(37:45):
Y'all.
Have a great day Until nexttime.
Speaker 3 (37:52):
Now this episode may be over, but our relationship
does not have to end here.
Head on over toKimberlyBrockcom and, yes, you
can get more valuableinformation for your journey and
you know what.
You don't need to go throughthis alone.
I would love to help you.
Thank you so much and have agreat day.
(38:13):
Bye.
Well, hello.
This is Kimberly Brock, and forover 20 years I've been running
my own businesses that have notonly been profitable but
personally fulfilling to me.
So now I'm on a mission to helpother new business owners, just
like you, make money doing whatyou love to.
Now we're going to have somefun, so let's get started.
Speaker 2 (00:24):
Well, hello, this is Kimberly.
It's episode 286, and I'm soglad you are here today because
we're talking about a very, veryimportant issue, and that is
the overspending epidemic thatexists among new business owners
.
You may be in this bind.
You may find that you've beenspending money on things that
(00:48):
you didn't need to, or alreadyregretting some big purchases,
and we're going to talk aboutthem today.
I'm going to talk about theways that I'm seeing new
business owners overspend andI'm going to get to the root of
why you're doing it, becauseit's not about the shame, right?
It's about learning from whatyou're doing and stopping
(01:09):
yourself and making smarterchoices going forward.
So that's what we're going todo today.
I'm so glad you're here.
If you're new, welcome.
I'm so glad that you found thispodcast.
I have no doubt it's going tohelp you along your business
journey along your businessjourney.
If you are a new business owner, know that I have party favors
(01:30):
for you.
I do.
I have free goodies that arejust waiting for you right now.
So if you scroll down in theshow notes, you'll see the free
tools or free resources linkeddown below.
If you're in the idea stage of abusiness, trying to like figure
out what type of businessyou're meant to start.
Make sure you grab my iKigaiguide.
I don't know if you've everheard of iKigai, but it's a
Japanese term that means areason for being.
It's basically asking yourselfwhat is my business purpose?
(01:52):
And the iKigai guide is goingto help you, so make sure you
check that out.
People tell me they absolutelylove that guide and it was just
so insightful and enlightening.
If you're starting yourbusiness, I have a 16-step
checklist, so no more scramblingaround trying to piece together
all the things you need to bedoing to get your business
started.
I've got a checklist for you.
You can start working throughit.
People tell me they keep it outon their desk and they were so
(02:14):
thankful for it, so make sureyou get that.
If you're looking to start apodcast, I've got something for
you.
I've got a workshop to help you, so make sure you check out all
of that below.
I don't want you to miss out onanything.
Plus, I've got a free Facebookgroup.
It's called Women StartingBusinesses and Podcasts Doing
what we Love so make sure youget in there and you can ask
questions and get help.
I would love to have you in thegroup, so do all that and you
(02:35):
will now be officially pluggedin.
And if you've been listening awhile, thank you so much to all
my loyal listeners.
Y'all are so kind.
Thank you for the reviews.
I know that it's helping bumpthis podcast up and show it to
more people like you who justwant to make money doing what
you love and build a businessthat's fulfilling and impactful
(02:56):
and fits in this season of yourlife.
Right, right, because it's gotto fit in this season.
If it doesn't, then you'rebuilding the wrong business.
It's got to fit in this seasonof your life.
I can't say that enough.
Also, too, if you've beenlistening a while, make sure, if
you have a second, to hit thefive-star rating Maybe you're an
Apple podcast or Spotify or anyplayer that you just hit the
(03:19):
five stars.
That's all you have to do.
It takes one second.
Or if you have 30 seconds towrite a written review, that
would mean the world to me.
Also, too, everyone new,veteran make sure you subscribe
to this podcast An Apple podcastnow.
I think.
It says follow.
I think it has a plus buttonand a follow.
They've changed it severaltimes over the years what it
(03:41):
says when you find a new podcast.
So I think it's up in theright-hand corner.
If you're looking at a podcast,maybe there's a checkmark.
So make sure you hit thatcheckmark so that you follow
this podcast and you don't missout on any future episodes that
I know are going to massivelyhelp you as you build your
business stream.
So that is it, okay.
On to the episode.
Hi friends, how are you,no-transcript telling people
(04:53):
that you have a business oryou're sharing about your
product or service and you'relike I feel so weird right now.
Like, am I being icky?
Am I being a weirdo?
Do I sound stupid?
Do y'all?
Am I the only one that'sthought that?
Is it just me, or is it?
I pray that it's y'all too.
(05:13):
I'm not the only one.
No, I know that y'allexperience this because you tell
me, but it is.
It's weird when you startputting yourself out there, but
it's so freeing, I think, whenyou get your words together and
you know what to say and youstart feeling more confident.
You have a little pep in yourstep, things just start going
really well and it's the bestfeeling in the world.
But today we're talking about aserious topic and that's about
(05:36):
overspending.
Okay, and I'm going to gothrough the the 3, these are
more broad areas that I seebusiness owners like you
overspending right now, in thebeginning of your business, and
I think it's important that youare aware that you can overspend
right now, and I know some ofyou are willing to throw money
(05:58):
at things.
I know when I was starting mybusiness, I had a chunk of cash
to start this business and so Iwas a little bit less discerning
that I might have been had Ihad less money to spend, okay,
and so I was able to do that.
It did fast track my success.
But down the line there werethings that I've actually
(06:19):
overspent on, which I'm going totouch on here in a minute.
But I would just want you tostop and think.
Before any purchase you make inthe beginning of your business,
make sure that it's somethingthat you actually need, okay,
that you actually need right now.
It's going to save you time.
It is the direction that you'regoing with your business.
(06:41):
It's a smart decision.
You could defend it if I askedyou.
If I asked you, I'm standing infront of you and saying, ok,
tell me why you want to purchasethis.
Not to be annoying Again.
I'm not trying to be annoying.
I'm not trying to be yourparent, I'm not trying to be a
spouse, I'm not trying to be anyof those things.
I'm just trying to be thatlittle, you know birdie on your
(07:02):
shoulder talking to you, makingyou think before you do stuff to
help you right.
The good, the good littlebirdie on your shoulder trying
to help you.
You look for a website platformand some of you will
automatically buy the yearlyplan, like you start building
(07:33):
your website, maybe yourself.
Okay, here's one way.
There's a couple ways that Isee you overspending with your
websites, but number one withyour websites is some of you are
jumping into like a yearly planbecause you see it saves you a
few hundred dollars or whateverper year, and I would not
overspend and do that right now.
You know why Because thewebsite platform that you start
with is probably not gonna beyour last website platform.
(07:56):
I think almost all of thepeople that I've been helping
have started out with onewebsite platform.
Their businesses evolved andthey moved into another one,
except for, I'm trying to think,some product sellers that maybe
started out on Shopify andtheir business grew and it was
able to grow with them.
(08:16):
So Shopify has worked for, forproduct sellers in the beginning
, but I'm thinking kind ofmainly of coaches, digital
digital products providers,consultants, service providers.
Before you buy a yearly plan,make sure you just test it month
per month.
Now a lot of them will have atrial which you can test the
(08:40):
software platform.
Make sure you like it.
Maybe you're testingSquarespace or Wix.
That's what I did with thisbusiness.
I started out on Wix.
I actually switched toSquarespace within like a year
and then I moved to Kajabi andI've been on Kajabi and I kind
of had mixed thoughts, honestly,for a while about Kajabi
because it was so expensive Imean, it's like $200 a month.
(09:02):
But now they have recently madeso many awesome updates and I
know this is a side note but ohmy gosh.
Now to me it's totally worth it.
With the email, with thecommunities, with the course all
that stuff course platform, Ithink I'm set and I feel much
happier with my $199 a month.
(09:24):
Feel much happier with my $199a month.
Now here's the funny thing isthat you can save $400 a year if
you do the yearly, and I neverwould do the yearly.
Oh, I take that back.
I think I did do the yearlyafter I switched to it from
Squarespace and was like this isit?
This is my one, because I don'twant to be piecing all these
things together email and allthat.
Anyways, I think I did it forlike a year and then I did
monthly because I was like maybeI'm going to change, because I
(09:45):
told you I wasn't super duperhappy.
But now all of a sudden I'mlike, yes, so I should probably
go ahead and move to the yearlyplan.
But even I am a little bitskittish on doing the yearly
plan, because I always love totest latest and greatest and I'm
always testing stuff and I keepthinking, oh, what if I change
to this, or what if I startusing this tool?
Anyways, I know I'm crazy, butI'm trying to tell you that in
(10:09):
the beginning of your businessexcept if you're maybe a product
seller and you're starting onShopify you'll probably stay on
Shopify, but everyone else mayswitch.
Okay, you may switch.
So don't buy the yearly planright away.
Stick with the monthly untilyou know this is good, you
(10:32):
started building it out, you'retesting it and you're like, ok,
I'm good, I could maybe spendthe money on the yearly plan.
The other thing having to dowith website platforms, I'm
seeing.
Some of you believe that you'vegot to have the fanciest
graphic designer ever for yourwebsite, and a lot of you do not
need this.
Now.
If you're a luxury brand, ifyou're something that's very
aesthetic maybe you're a homedecorator or something like that
you can still have a websitethat is not this grand Taj Mahal
(10:59):
of a website.
You can have something great tokickstart your business, start
getting income coming in, andthen you can invest in a more
grand website.
And here's why Because in somemonths, after selling what
you're selling, you are going tohave a much better idea of what
your brand is actually about.
(11:20):
You have a vision right now, inthe beginning, of your brand,
of what you think it represents,but you will be surprised.
Some of your color tastes maychange for what you want to use
for your branding.
You just may decide you'reselling something different.
You may need more capabilities,so you will be surprised how
(11:41):
your business evolves.
So this is my recommendation formy clients.
This is what I tell them incoaching.
It's like let's get this goodenough, let's make a good
impression.
I don't want you to look like aschlub Okay, no schlubbing with
your website.
I'm just saying you don't needto hire the world's top graphic
designer right now.
I think you can find someoneyou know.
(12:02):
I think you can look on Fiverr.
You can ask me, you can askpeople in the group and let's
see who we can recommend to you.
That is reasonable for rightnow to get something up that
makes a good impression, that'sfunctional for today, for what
you offer today.
Okay.
So number one again, I seepeople overspend on websites
because you will buy a yearlyplan and then you'll be mad
(12:22):
because you're locked in ayearly rate and you'll feel
weird about switching and itwill cause all kind of mind
drama.
And then some of you overspendon designing it, unless caveat,
you are a luxury, high end brandand you need like the best.
But I think you can make a logoon Canva.
You can get people on Fiverrand others.
You know there's other smallbusiness freelancers that help
(12:45):
with logo design and all of thatbecause your budget right now
is not what, like, a massivedepartment store or a big
restaurant would have.
Right, do you agree with me onthat?
Like you're not, you're a smallbusiness getting started.
So I'm just saying let's besmart about this purchase right
now and get it good enough,which is very hard for some of
you who are like good enough, no, I don't want good enough, I
(13:06):
want the best, and I understand.
But you can make it good enoughwhere you make a good
impression.
It's a clean site, it hascolors that you like right now.
It sells what you need it tosell right now and then, as your
business is, is shaping itself,is growing up, is maturing,
then you can invest in thebetter website, okay, okay.
So number two is buying courses, templates, programs that are
(13:32):
not applicable to an early stagebusiness owner.
Are you hearing me?
So many of you are wanting tobuy all the things right now,
especially if you have the moneyto buy all the things, but you
think that if you get all thecourses and all the things, you
(13:55):
are guaranteed success.
Here's the deal.
I remember someone told me thisa long time ago and it is a
total fact.
So I was getting into portraitphotography and my husband had a
good friend who was so amazingy'all so amazing I think I've
talked about him before on pastepisodes so talented Shout out
to Greg so talented.
And I had, like this fancycamera I'd saved up and a really
(14:18):
good lens and he was takingphotographs 800 bazillion times
better than me.
Okay, I was trying to takepictures of my kids, but he did
a lot of people and animals inother countries where he
traveled.
So amazing and found out he hada point-and-shoot camera and,
(14:40):
sure enough, he's in NationalGeographic now and he has a
really good camera, but he had apoint and shoot and was amazing
.
Okay, so this applies to you.
Right now.
You think you need to have andbuy all the things, all the
(15:01):
bells and whistles, every tool,every electronic equipment,
every course, every template,everything that's being thrown
at you.
You think that if you have that, that's going to make you
amazing at your business, it'sgoing to be successful, and the
truth is it's not.
Okay, there's a lot of thingsthat go into successful business
(15:22):
that you have to do, but youwasting money on courses,
templates, equipment, whateverthat is not applicable to you
right now is a complete waste ofmoney.
Okay, you're just throwingmoney away, you're overspending
and you don't need to Getexcited that you don't have to
(15:44):
have all the things.
I'm seeing a lot of new businessowners get sucked in because of
the marketing that's beingthrown at you.
Every day I'm getting marketingthrown at me, so I know you're
getting it thrown at you.
You're getting ads and allkinds of stuff and stuff on
email, and everyone's good atemail marketing.
Now, because of ChatGPT, theads are going to get better and
(16:04):
more targeted.
It's all going to get betterand better.
It's going to suck us in evenfaster.
Amazon's going to suck us ineven faster.
Somehow, I'm sure, when we'rethinking about something, it's
going to appear on our feed herepretty soon.
We're not even going to say itout loud.
Alexa's not going to belistening, siri's not going to
be listening, nobody's going tobe listening, but it's going to
read our minds and it's going toshow us ads of stuff that that
(16:27):
we don't need at our stage ofbusiness.
Because this is what'shappening.
I'm seeing y'all buy thingslike this.
Okay, I'm going to give yousome examples that are not for
your stage of business.
Okay, I've seen my clients buyhuge programs to create a course
or a group program and theydon't have the audience yet to
(16:50):
be able to fill it up.
Now you're saying, oh, but Ineed to have that so that I can
then build my audience, and whatI'm finding is that a lot of
you could be doing one-on-onecoaching or much simpler things
right out of the gate, withoutbuying that big course.
You start actually working withpeople and talking to people
and understanding their problemsso you can create that program
(17:12):
or course.
And then, once you have thatgoing along and you're getting
one-on-one coaching and you'redoing maybe a live workshop or
something simple that doesn'tcost you hardly anything, then
we can start building out thecourse, because now you have a
lot of data from everything thatyou've learned from working
with people.
So I see a lot of peopleputting a ton of money into that
(17:33):
in the beginning and and theydon't get a lot of sales after
in their programs or theircoaching because they don't have
the audience to support it.
You have to have a big audienceto support these things.
Okay, most of the time like abigger audience than you have
right now.
But if you already have anaudience, okay, maybe you won't
be wasting money on that.
(17:53):
But I'm just telling you for the, for the new business owners
that have never really beenselling what they're selling.
They go out there and they'relike I'm going to create this
big old group program and I'mlike but how are you going to
keep people coming in?
We've got to dial it back andwe need to get you doing
one-on-one coaching, workingwith people in the most simple
way possible, right?
I've seen my clients buy hugeemail marketing programs when
(18:15):
email marketing is so important.
I'm a believer you have to haveemail marketing.
I had it right out of the gatewith my podcast, my business
here.
But they don't even know how tosend an email right now and
they don't have funnels set upand their business isn't really
made for this advanced of emailmarketing program.
Does that make sense?
I've seen them buy complicatedsoftware, funnel software and
(18:39):
funnel building programs, which,again, are amazing, but for a
lot of you it's not needed rightnow.
We've got to get used toprocessing an order You've got
you.
You've got to get used tocoaching somebody or showing up
at a vendor show or hosting aworkshop or doing something live
before you can build out thiswhole gigantic funnel by
(19:02):
yourself.
Do you see what I'm saying?
And the other one is I've seenclients do huge, very expensive
Facebook ads courses so thatthey can run them themselves,
when they don't even really havetheir product ready.
They don't have their messagingready, they don't have their
value proposition ready, theydon't really understand the
(19:24):
competition.
They don't understand whypeople need to buy their stuff.
They don't know how to sell ityet, yet they're spending a
bazillion on how to learn how todo Facebook ads.
Y'all.
Facebook ads are difficult.
You have to either hiresomebody to do it for you right
now or and like, set all that up.
(19:44):
It will be very expensive oryou risk just losing your money.
I've seen clients lose so muchmoney on Facebook ads.
Now, caveat, there's some of youthat have hired.
I've heard there's like $10,000programs, $20,000 programs that
will basically set up yourbusiness for you and do all that
.
I'm not talking about that.
Some of you may want to investin something like that,
(20:05):
depending on how you're going tobe running your business.
Right, that's a whole, notherconversation.
But I'm more talking aboutthose of you that are doing it
on your own and you're like Okay, I need to know how to be a
Facebook Ads expert.
Is that really the businessthat you are in?
Answer that question Are youreally in the business of being
a Facebook ads expert?
You're not, okay.
(20:26):
So that's just an example.
All these courses and templatesare just not applicable.
And you're buying all theseadvanced things for social media
.
I've just y'all.
I've seen it all.
I've seen it all and I'vefallen victim as well.
So I'm not I'm not blaming you,I'm not shaming you.
I'm saying I'm here too, butbut at least in my favor.
(20:49):
I have a lot of a businessexperience, so these programs
can be very valuable to me,although some of them are still
not worth it.
Okay For you, you're in the verybeginning stages of business.
Okay, there's things that youshould be spending money on
We'll talk about that next weekbut right now, you need to focus
(21:10):
on getting your product readyand talking to real people and
having real users and testers.
Like that's really what youneed to be doing If you want a
process for starting yourbusiness and going from idea to
launch.
Make sure you get my JustGetting Started Bootcamp.
I have the five steps, which isyour fast track to first sales,
(21:31):
and I keep you focused on allthat matters right now, so you
don't spend extra money on stuffright now.
Okay, but anyways, I'm seeingy'all spend money on advanced
trainings and programs that arenot applicable to new business
owners like you.
So watch out.
Before you go purchase anything, ask yourself is this perfect
for my business right now?
Is this what I need right now.
Do I need to be spending thismuch money right now?
(21:53):
Please, please, think about itbefore you do, okay?
The third big thing that I'veseen clients waste money on is
ads.
Okay, I know I just mentionedit and you're like you just
mentioned this in courses andtemplates.
I did, I just mentioned it.
But what I'm talking about isyou just throwing money at ads.
(22:16):
I've seen you just let it runbecause you don't really know
that much about Facebook ads andyou're just letting it run in
Instagram ads and just putting$20 a day, thinking, oh, that's
not that big a deal, but thenyou forget to turn it off and
you've got $20 a day going andit's not turning to any sales.
There is a strategy that has tobe in place for you to get good
(22:40):
at Facebook ads, and I'm tellingyou from personal experience.
So, back when I ran my onlineboutiques, I had In this Very
Room and KidsAreFans2.com.
Those were my boutiques andthere were, I think, a few times
that I attempted ads.
They never worked out.
They.
They never worked out.
It just was money thrown outthe window and, in fact, I can't
(23:03):
remember if I've shared thisbefore y'all.
I found out like after somemonths.
I was so busy with mybusinesses, like so busy, and I
wasn't checking my like creditcard bills for every charge that
came through for like months.
I mean, I may have seen certainthings, but there were Facebook
ads running that I didn't turnoff.
That cost me hundreds andhundreds of dollars and it may
(23:26):
have even been thousands, Icannot remember right now.
I didn't turn them off and theyweren't bringing in sales.
Like you could look at theconversions.
There was not conversions,literally one of the most
frustrating things.
I don't want that happening toyou.
There is a strategy to Facebookads.
You can learn, you can learnonline and all that.
I've actually taken a programto help with Facebook ads and
(23:51):
even then and it was very, veryexpensive even then it hasn't
worked for me and I'm just beingtotally honest, I need to hire
somebody.
I decided if I'm going to runads, it's going to be when I
have everything completely set.
You know, I just added myPassion to Podcast course and
I'm just kind of building thisout and I want this all set
(24:14):
before I start running ads intoa funnel that's non-existent.
Like I have to have the wholefunnel how people move from like
business idea to business plan,to starting their business, to
growing and maybe growing withpodcasts as an add-on, right?
So even I am waiting on thatBecause I know that you can lose
(24:36):
money so easily.
I've run just lead ads where Ijust try to get leads for my
16-step checklist and thingslike that, and I got a ton of
signups but again it wasn'texactly the right people.
So there was things that neededto be tweaked in my ads to
attract the right people anddeter the wrong ones and make
(24:59):
sure that they're buyers, thatthey're the type that would be
buyers, and it's hard y'all.
It's a game that you play.
You can talk to anyentrepreneur.
A lot of them lose money in thebeginning of ads, and so what I
don't want is you thinking thatthat's the ticket for you right
now, if you're trying to learnthis on your own.
Again, I'm not talking aboutthose of you that have hired
someone to do your ads and allthat and even then it can be
(25:21):
hard to make a profit right away, because you're paying their
fees and you're paying all thead fees.
What I'm telling you is justthrowing money in ads and like
boosting a post Y'all.
It doesn't really work?
It doesn't really work.
You have to have a way to drawattention that works on social
media.
That already works, and thenyou leverage that with ads.
(25:45):
Does that make sense?
So maybe a post that's alreadyworking, that's doing well, you
could turn into an ad, but stillyou need to know what you're
doing.
My point is I just don't wantyou boosting any and all posts
and just like going I'm justgoing to go for it Like I'm in
Vegas and I'm just going to rollthe dice and we're just going
to just hope this hits and itdoesn't.
(26:05):
It doesn't.
Okay, you got to know whatyou're doing or have someone
helping you who knows what to do.
So again, here's the three waysthat I see.
In general, y'all overspending,okay, and then we're going to
talk about what you can do aboutit.
So, or where it's coming fromthe actual the truth of it.
(26:27):
So number one is with yourwebsite design, website
platforms, paying yearly, rightout of the gate.
Don't do that Pay per monthbecause you may change platforms
at the beginning, except I didgive the exception of those of
you that are maybe on Shopifyand starting.
That will grow with you ifyou're selling physical products
.
I've seen y'all wasting money oncourses and templates and all
(26:51):
kinds of trainings that are notapplicable to new business
owners that you are not focusedon what you should be doing now.
You're still thinking way ahead, which is great.
I love that.
I'm that kind of person Like Ikind of want to know what's up
ahead, but you can't right nowbecause you will waste so much
money.
Those programs will get moreand more expensive, and I don't
(27:11):
want you wasting money on stuffyou do not need.
So again, pretend the next timeyou're going to buy something
online.
Pretend that I'm just going tostand there and go Okay, can you
tell me why you believe thatyou need this and see if you can
defend it?
Just see if you can defend it.
If you can, then I'm with you,I support you, but if you can't,
then you have to tell yourselfno, you have to have
self-control.
(27:32):
And number three is ads.
Please do not just boost any ad.
Throw money at ads if you don'tknow what the heck you're doing
.
You are going to waste money.
You're better off trying to getgood at social media or another
way YouTube, blogging, apodcast, some other way to try
to get seen.
(27:52):
Now, if you're a product seller,instagram is probably going to
be your best bet because you canshow off pictures of your
products and all that.
But if you're a coach andconsultant, maybe it is
Instagram for you, maybe it'sTikTok, maybe it's LinkedIn,
maybe it's a podcast, maybe it'sYouTube.
Y'all know I can help you starta podcast.
To me, it's the best way togrow your business.
Right now.
I'm biased because it takes meless than 2 hours a week and I
(28:14):
get leads every single day frommy podcast and people you know
can develop the know, like andtrust factor with me, and so I
love that more than just socialmedia.
Okay, but that's me and I'mseeing.
You know, as I said, that y'allare just throwing money at the
ads and I don't want you to dothat.
There's got to be a better wayright now, and then you can
(28:35):
either hire someone as you havemore income coming in, or you
can learn on your own, like Idid.
I paid thousands of dollars fora Facebook ads program program
(28:57):
and I think the content wasamazing, but I may have not been
at the point that I needed tobe before taking that.
I think it could have been muchmore valuable later, when I
have my full product suite builtout, and I do think I could be
running lead ads right now.
So there's things I can bedoing, but the podcast is
working and I'm comfortablewhere I'm at right now.
So you have to decide that foryourself.
(29:18):
So let's get to the root of whyy'all are overspending.
Okay, let's just talk about thetruth so that you can identify
the reason why you may beoverspending.
If you've found that you puttoo much money into stuff right
now or you've, you can see yourexpenses are way higher than
your revenue.
Is it because you lackconfidence?
Is it because you're notconfident in what you're selling
(29:41):
and you're trying to find otherways to gain the confidence?
If it is, the only way to gainconfidence is to actually work
with people and to start talkingto people, putting yourself out
there, start getting moreclients, maybe even offer
discounted rates so that you canget testers, you can get
feedback, you can start creatingbuzz.
That's how you gain confidence.
(30:01):
You don't gain confidence bybuying a million things that you
don't need right now orspending way too much money.
In fact, that's going to loweryour confidence.
Okay, a lot of you areoverspending because you have a
fear of doing it wrong, and Iunderstand, like we don't want
to build our businesses wrong.
But if you really have a fearof doing it wrong, then where
(30:25):
should your money be spent?
This will lead into next week,but where should your money be
spent if you're scared of doingit wrong?
You should get a coach.
You should get a strategist ora mentor, a friend, a neighbor
who's a business owner.
Get someone to give you thepath and share it with you and
talk you through it for yourbusiness.
(30:56):
Many are sucked into templatesand steps that are not for your
specific business, for whatyou're selling, for your
personality and gifts for thisseason of your life, and that's
where we get into trouble.
We think that all the templatesand all the things will work
for us when in reality we're at.
You know your business is asunique as you are.
Okay.
Okay, I think a lot of you havea fear of avoidance where maybe
(31:18):
you just don't want to learn oryou just are like avoiding
doing stuff and so you're justthrowing money, like maybe it
adds, are you avoiding puttingyourself out there in other
authentic ways that you thinkads will allow you to avoid?
All of that Like are you tryingto avoid and are you trying to
(31:43):
find, like a get rich quicktactic?
You'll know, if you've listenedto me for a long time, I don't
teach that I wish I knew a getrich quick tactic, but I don't.
All the business owners that Iknow, including myself, have to
work hard and it takes a while.
Okay, now, if you're selling ahot product that is super
(32:05):
popular right now and peoplewant it, you may be able to get
a lot of sales right now.
Okay, and it would have to besuper trendy and you will have
to catch it fast.
See, in my days back when I washad my online boutique, stuff
wasn't changing this fast and wedidn't have all the social
media stuff, so so the trendsweren't flipping so fast in the
in the new right.
But now, if you're on anysocial media and you're like
(32:27):
something is new and it's hot,and then something else comes in
right after, so you can ridethat train I think you should.
If you sell something that ispopular and needed right now or
you can offer it in yourbusiness, then do it, because
you can ride that gravy trainand leverage that for a little
while.
But there will be a new trend.
(32:47):
There will be new something,but there's no get rich quick
scheme Like you're going to haveto build your business from the
ground up.
You're going to have to dothings right strategically and
be smart about it Right.
So again, let's look at the realreasons why you may be
overspending.
So if you today have beenrealizing that you've just spent
way too much preparing yourbusiness for launch, or you've
(33:08):
already launched and you're justnot getting the revenue, you
have to ask yourself why did Ido that in the past so that I
don't do it again in the future?
Was it because I didn't feelconfident in what I was doing?
If so, you probably need acoach or strategist, someone
like me, a mentor.
If it's not me that you'rehiring, but someone who does
what I do is what I mean thatcan help you.
Now I'm honored to help you.
(33:28):
I'd love to help you.
Y'all know I offer one-on-onecoaching.
We can do a one-hour strategicsession that may help you sleep
better at night and finally takea sigh of relief and go OK,
good, I'm doing this right, butI need to shift gears on this
right.
A lot of you have fear of doingthings wrong, and I understand
that, because I don't want to doanything wrong either, but
(33:49):
don't be reaching at straws andjust trying to throw your money
at anything because you'rescared that you're doing it
wrong.
I think if you either have acoach or you have a proven path
that's before you.
That's very simple, that'stailored for new business owners
getting going, then you don'thave to have the fear that
you're doing it wrong.
You will know, you will feelconfident.
Also, you have to ask yourselfam I avoiding trying to learn
(34:13):
about business because I just sobad want to be my own boss and
I just want to get this goingand I don't want to be
embarrassed that I'm a newbusiness owner.
I'm just avoiding all the stuff.
I don't have time.
If you don't have time, thenyou got to ask yourself if you
don't have time at all for yourbusiness, then why are you doing
this this season of your life?
If you do have some time, thenwhat's the rule?
(34:34):
We do it in the moststreamlined and simple way
possible for this season of yourlife.
That's my whole theory forhelping you with your business
Simple, streamlined, strategic.
It's for this season of yourlife, okay.
And the other reason why you mayhave been grasping at straws
and trying to buy all the stuffand throw money at things is
because you want to get richquick scheme, and I hate to tell
(34:56):
you there's really not A lot ofthose are high-pressure sales
unless, unless you've gotsomething that you're selling
that is so trendy and popularthat it will fly off the shelves
, and that happens.
That would happen with me whenwe would have styles of jewelry
and bags and things like that,backpacks and all that that were
(35:17):
super popular and they wouldfly off the shelves and it was
amazing and it was likehallelujah, right.
But if you don't sell somethingthat's like so trendy at the
second, just know it's not goingto be super fast, it's going to
take you building it.
You are in the business now ofsharing your business with the
world and showing up and talkingto people.
It's hard because we just wantto be in the business of what we
(35:38):
do right, because we love whatwe actually do.
But you are in the business ofnow sharing your business,
promoting it, putting yourselfout there.
That's the reality of abusiness.
Otherwise it can just be ahobby and you can do what you do
and have a blast and don't getpaid for it.
You're in it for a business,you have to be putting yourself
out there, you have to be doingall the things.
So, anyways, I know this waslong.
(36:00):
Thank y'all for sticking around.
Next week we're going to talkabout what you should be
spending your money on, but Ithought this was good to just
wake up to what you shouldn't bewasting money on, or what I've
seen, and then really getting tothe root of why you're doing it
, so that you can stop yourselffrom now on, before you make any
purchase, before you type thatcredit card number into the
little field on the website,when you're about to buy
(36:22):
something that's $37, $47, $97,$2,000, whatever it is.
It should be applicable to thisseason of your business.
Right now, this stage.
You're a new business owner andit should fit that there's
enough years left for you tospend money on all sorts of
things in your business.
(36:42):
There is plenty of time forspending later.
Right now is a time forperfecting.
Well, I don't even want to usethe word perfecting, because
you'll know about imperfectaction, but I'm saying in your
terms perfecting.
I say that in air quotesbecause you'll always say I can
perfect it later, you canperfect it later.
Right now we're getting thefirst rendition out.
We're starting to sell that,we're getting social proof,
(37:05):
we're getting testimonials,we're seeing what's wrong.
We're fixing it, we're refiningit, we're tweaking it, we're
putting ourselves out there andthen we can go gangbusters and
do whatever you want with adsand all the stuff.
So that's it.
Thank you all for listening, andif you do need help for your
business, please check out myprograms below.
I have some self-studyworkshops and courses you can
(37:25):
grab right now that areapplicable to you.
They are perfectly made for newbusiness owners like you, so
you don't have to worry thatyou're overspending or wasting
money.
They were made for you bysomeone who understands what
this is like.
I've been doing this for a longtime 25 years and I absolutely
love it and I'm here to help you.
So that's it.
(37:45):
Y'all.
Have a great day Until nexttime.
Speaker 3 (37:52):
Now this episode may be over, but our relationship
does not have to end here.
Head on over toKimberlyBrockcom and, yes, you
can get more valuableinformation for your journey and
you know what.
You don't need to go throughthis alone.
I would love to help you.
Thank you so much and have agreat day.
(38:13):
Bye.
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