#218: Stop Wasting Money In Your Business - Tash Corbin, Heart-Centred Business Podcast

Show notes can be found at tashcorbin.com/218 In today's episode, I'm going to be telling you to stop wasting money in your business. I'm going to help you with five ways that you're potentially wasting money right now, just so that you can be aware and make the decision of whether or not it's time for you to stop that wastage. Let's dive in... These days there are so many opportunities to buy solutions, buy courses, and invest in ways to grow your business. It becomes really difficult to tell if what we are investing in is the right decision for our business. There are so many investments that have a potential return (that may not be there) or that feel like they're a good idea but you're not sure if you should be investing your money there right now. There can be a lot of wastage in our business expenses in particular. That is why I'm here to give you five ways that you might be wasting money so that you can keep an eye out for these things. Something might jump to mind for you as you read along and you can sit down and really assess whether it is the right investment for you right now. Here are five ways in which you may be wasting your money: 1. Buying courses This is particularly prominent in self-study courses when what you actually need is a mentor or a team member to outsource to. I made this mistake several times when I was starting out. I bought a course on how to create a website when I should have just paid someone else to build me a website (which I ended up having to do anyway). Even though I knew enough about Facebook ads that I could have hired a Facebook Ads Manager and known basically what it was that they were doing and what they were talking about - but would have been able to tap into their expertise and have them managing everything - I paid for a course. I should have outsourced Facebook ads stuff way sooner, but I did TWO separate courses on it. For a lot of us, we look to courses when it's actually not a skill we need to be learning. It's usually not something that's going to be in our wheelhouse, it's something that we should be getting someone else to do in our business. Buying a self-study course when what you really need is someone to have a look at what you're already doing in your business is definitely a big one where people are wasting money in their business. I see this a lot when people are launching. They think that they need to do launching courses and all of the different bits that go into launching, such as how to: Run a challenge Do high conversion webinars Structure a launch Systemise a launch Do ads for launch Do freebies for launch They spend money on all of these self-study courses when working with a launching mentor would have been a way smarter investment of both time and money. Buying courses when you need to have a mentor or outsource it can be a really big source of wastage in businesses. 2. Investing in reach when you aren't getting great conversion I see this one with a lot of people. They'll do their first launch of a course or program, and when it doesn't particularly convert well, they blame it on the fact that they didn't get enough leads or enough reach. Then they stick $10,000 in Facebook ads behind it, get 10 times the leads but still get really low conversion. I would not be investing in something that's giving you more reach - whether that be ads, funnels, freebies, SEO of your website or any of those opportunities that are getting you lots more reach - until you know that when you get people into your world, you've got good conversion rates. For most people, whenever I say that, they don't know what a good cLet me know your thoughts via our Text FanMail!Join us in Noosa at the Heart-Centred Business Conference in September!Find out more and secure your ticket at: tashcorbin.com/conference