sly : marketing

This Made Me ReThink My Business Investments

I keep thinking that I shouldn’t buy the new iPad. I know that I’ll end up buying it, and especially after I read the awesome review by Carolyn at Wonder of Tech. But do I really need it?

I’m not so sure. On the other hand, I don’t like to ask myself questions like that. I usually trust my gut feeling when it comes to investments.

I don’t need a lot and I celebrate every little detail

What do I really need? Well, not a whole lot to be honest with you. I can probably run my business without any new software. I can keep using my 4 year old MacBook Pro, and I can keep working from home without even buying a new chair. But what’s the fun in that? I need to celebrate. I’m starting a business.

That’s the problem. I’m too used to celebrating. I always find something to celebrate. Every single day. And the celebration always include pizza. But now that I’m starting a business, I need to rethink my investments.

I can start the business without any investments. I have the writing tools I need. I won’t pay for an office. I’ll be working from home, at least for the first 4 or 5 months, and I have the keyword research tools I need. I have been considering buying an iMac or a MacBook Air, but I’ll wait. I won’t even buy any new clothes for a while, because I really want to some new clients first. I might need to rethink that decision, I probably do need some new clothes in order to get new clients.

But, what about knowledge and networking?

Investments in knowledge and relationships

Do I need to do some investments in knowledge and networking, already? I want to, because I’m celebrating. But, do I really need to do any investments right now? I probably can’t stop buying books. They’re cheap and right now I’m reading Content Rules by C.C. Chapman. I keep learning a lot from books, and I know that as soon as I’m finished reading that one, maybe even before I finish reading it, I’ll buy another one. Every time I do, I whisper to my son that it was the best $15 investment I have ever made.

I really enjoy conferences. I haven’t been to that many, but I remember how fantastic it was watching Gary Vaynerchuck and Chris Brogan on stage in Oslo last year. I even wrote a short article about the 10 things I learned at the marketing conference. The problem is, that a conference is a lot more expensive than a book. And, since I’m terrible at small talk and networking, I am just sitting alone in the corner and admiring the people on stage. I do learn a lot, but is it worth paying $500 or more to just watch and learn?

Well, if I had the money, I would say yes. And now, after Bill Defence (I’m looking forward to playing him and Jack in basketball) just told me that Gini Dietrich is going to speak in Norway at the 29th of March (next week). I had to open my wallet to see how empty it really was. And not only that. Gini is one of the most brilliant people I have met online, but she’s not alone at the conference. There will be other speakers like Chris Brogan and Mitch Joel. I just can’t believe it. They’re going to be in Norway, and I have to decide in a day or two whether I’m going to attend the conference or not.

I do have to ReThink my business investments.

 



34 responses to “This Made Me ReThink My Business Investments”

  1. Ricardo Nuñez says:

    Prioritize about these two investment is hard. You probably don’t need either, so I’ll go with the one that makes you more happy.

    • Hey Ric,

      The iPad will probably makes me more happy, but I’m still thinking about it… I guess the reason I’m really struggling is that I know that my kids will be using it more than me 🙂

  2. Carolyn says:

    Hi Jens, Wow, thanks for the shoutout! My advice to you depends on whether you already have an iPad. If you get to keep your previous one then you don’t need to upgrade. If you don’t have one, well, I imagine it will be difficult to live without one.

    That is so cool you get so many speakers in Norway. It’s such a beautiful country, I can see why people want to go there. I hope you are able to see Gini! That would be amazing.

    Someday, when you’re rich and successful. how will you look back on these days? Wondering why you worried about the money or glad you did?

    • Hey Carolyn,

      My pleasure. Your review of the new iPad is awesome, and now I really want one. I’ll be thinking hard until wednesday, that’s when I’ll be deciding if I’ll buy it or not and which version. Which one do you have?

      I will never be rich and famous, but I enjoy life with or without money and even if I’m close to invisible. I believe it’s a lot more fun to not have a lot of money, this way I appreciate things so much more. Now I have to struggle to be able to afford an iPad. I like the feeling to work hard to get something 🙂

      • Carolyn says:

        Hi Jens, right now, I have both the iPad 2 and the New iPad because I haven’t yet decided which of my family members will be getting my iPad 2.

        I wrote a long reply to you on my blog, analysing the features of the 2 vs. New for you to help you decide which one to get. I hope it helps!

        I agree, an item matters much more to you when you’ve worked hard to get it! I hope you’re happy no matter which one you get. 🙂

  3. Sylviane Nuccio says:

    Hi Jens,

    Congratulations on your new e-book. I will definitely take a read at it 🙂 I just had my own new e-book out last week on my personal development blog. It’s free too 🙂

    It’s really a great thing to feel like celebrating everyday. However, the pizza, not so sure 🙂 Thanks for sharing your thoughts.

  4. Julie says:

    Thanks for sharing this inspiring text, I think now it’s time for me to rethink my business strategy and think about how could I make it more efficient.

  5. Galvin C Rodricks says:

    Thanks a lot for posting this blog article. Networking & remaining updated is really very important for progressing a new or existing business in the forward direction. These are some very right suggestions given by you.

  6. Sergio Felix says:

    Hey Jens,

    Well I think it all depends on what your goals are.

    I don’t have an iPad either but if I was traveling a lot, I would certainly get one.

    There’s an Internet Marketer from Australia called Ed Dale. The guy is practically obsessed over Apple’s products but he’s also an amazing IMer and shares a lot of super cool applications for iPad owners based on productivity and content creation with iPads.

    About investing on conferences, I would also do that if I had the chance (there’s almost zero Internet Marketing conferences in Mexico) but I wouldn’t pay one cent if all I did was attend and listen.

    The true power behind conferences is exactly what you just say you don’t do, small talk and face to face networking.

    About books and buying self education, I would never see that as a cost but an investment instead. 😉

    Sergio

    • Hey Sergio,

      I need to visit Ed Dale 🙂

      I probably won’t go to the conference, and the reason is exactly what you said. I just sit and listen, and paying $500 when I’m just starting my own business is a lot of money, just for watching people on stage. The true value is in networking. And that’s something I’ll have to become better at.

    • Ann says:

      I agree….books are investments. Attending conferences would count as investment too, even just for the education.

  7. Sherryl Perry says:

    That conference sounds amazing Jens. Good luck deciding which investment is the best for you. I’m saving my pennies in hopes of attending a conference too. One small way that I’m cutting costs is to not buy books but instead to borrow them from my library. I’ve been able to find the books that I’ve been looking for through the virtual library that our library is part of. Not everyone may have access to something like that but in my area, a lot of the Universities participate. So, I have access to some of the latest business and technical books.

    • Hey Sherryl,

      Right now, I believe that I’ll be investing in the iPad. I don’t have money to invest in both the conference and the iPad. And I’m using the iPad more and more, and now I’ve received information that I have to return the old one to my old job. My kids will probably be even more sad than me 🙂

      Our library doesn’t have any books like that (I live in small town), and there are so many problems related to borrowing marketing books from other libraries and from other countries. That’s why I just end up buying them 🙂

  8. You got all that it takes Jens!

    Yes, I have been reading all about iPads at Carolyn’s blog lately, and the way she writes and those awesome pictures sure get us tempted- don’t they?!

    I don’t have an iPad yet as I am really not much into mobiles or such gadgets as yet, guess I have ample of International online friends, so one really does’t find the need. However, it actually depends a great deal on your need and requirement. If you do feel you can’t do without it, then go ahead and buy one, or else, if you think the other way- you have survived pretty well without on so far, so you can do so for a little more time – that’s a nice way I explain things to myself. 🙂

    I like the way you are getting yourself pretty well organized to start full-fledged – that’s wonderful indeed.

    Wishing you all the very best, and am sure you are going to do wonder.

    Have a nice weekend 🙂

    • Hey Harleena,

      I’m doing my best to stay organized, but I feel that there are so many things going on right now that I’m barely know what I’ll be doing next 🙂

      I need a new iPad, even though I know that I probably could handle my business without it. I’m thinking about my vacation, where I’m living 5-6 weeks in a tent without electricity. The iPad would be great for that. And my kids are using it all the time 🙂

  9. Jack says:

    Now we have to figure out how to make a basketball game into a business investment. 😉

  10. Charleen Larson says:

    We have both the original iPad and the iPad 2 but I have to tell you we rarely use either one of them. I live my life online — that’s where I work — and it’s just not practical using an iPad. My iMac and MacBook Air are my workhorses.

    Where the iPad shines is in passive activities like reading. But generally that’s entertainment and thus, not an investment.

    We took both iPads to the Apple Store the other night to run some comparison tests with the iPad 3. We tried looking at and zooming in on quite a few high-res photos of our own and saw absolutely no difference between the iPad 2 and iPad 3. This was sobering. I think we’re done buying iPads.

    • Hi Charleen,

      I still haven’t bought the new iPad, and I have thought a lot about if I should buy a MacBook Air instead. I know it’s a lot more expensive, but like you, most of my work is done away from the iPad. I use the ipad to organize things and to read and comment on blogs. But a MacBook Air could do all those things and it’s so much easier to carry with me, than the MacBook Pro 17″ that I’m currently using.

      I know my kids will be sad if I don’t buy the iPad, because they’re plaing games on it every single day 🙂

      It’s very interesting that you didn’t see any difference on the iPad 2 and the new iPad. I have read some reviews and they tested them on things that were optimized for the new. Did you use apps that were optimized for the new display?

      Thanks a lot for your comment Charleen.

  11. Sajal says:

    I am so excited by going through your iPad based post. So interestingly you have made it clear about how important iPad is now a days. Though I don’t have it yet but now I am really thinking to go for it immediately. Thanks for such a inspiring post.

    • Hi Sajal,

      I own the iPad 2, and I’m using it every single day. I’ve quit the University where I used to be working (actually, I’m working next week as well), so I have to return my iPad 2. And that’s why I am thinking about whether I should buy the new iPad or the iPad 2. I just love to use it, and so does my kids, so no there’s no question that I’ll buy one 🙂

  12. Beth says:

    I believe that I was born to become an entrepreneur so I do believe in investments. These investments need not only to be in the form of money, but also of building a relationship to both customers and other parties involved. Right now, I am trying to invest much of my time with machines or technological advancements (different gadgets) I have that I can really make used of in the future.

    • Hi Beth,

      Wow, I wish I was born to become an entrepreneur. I am really hustling to find peace doing the switch from a public University to my own business. But, eventually I’ll get it 🙂

      Investments in relationships is probably the best investment I’ve made. And even the products from Apple can’t beat that 🙂

      • Beth says:

        Oh, don’t worry too much. Time will come that you will soon discover what you’re path is. I guess the best way to start everything is for you to know what you really want and learn how to fight whatever confusion you have both in your heart and mind. Like what I’ve said, soon you’ll discover if you’re in the right track of your life. I guess building a good relationship with others can already be your inspiration to dream big for your business.

        • I’ve learned a lot already 🙂

          I’m so glad that I started my business, and that I finally have control of my work and I’m able to decide my own path. I’ll be investing in several books that I’ll be reading during Easter. Books are one of the best investments I make.

  13. Rich says:

    Hey I just saw a comment you left on the wonderoftech.com and decided to check out your blog. I know what you mean about decisions in terms of conferences and other business investments as I’m dealing with the same issue right now in regards to a couple of conferences and personal development trips I’ve been looking into for the summer. I’ve always found conferences to be well worth it in the end, but man the price tag you pay prior to it can be very daunting.

    • Hi Rich,

      It’s awesome that you’ve been reading Carolyn’s blog. Her blog is one of the best blogs I read online, so you better stay with it 🙂

      I love conferences as well. But, I have some personality issues that prevents me from talking to other people 🙂

      I keep sitting by myself and watching all the people walking by and talking to other people, and doing their networking and making deals. So, to me, a conference is like I’m back in High School and I’m in class watching the teacher on stage.. it’s fascinating and I’m learning a lot, but it might not be worth the money.

      • Rich says:

        I know what you mean. I am quite laid back and am far from a Type A personality that needs to be the life of the party. However, I’ve been fortunate enough to have made some good connections at past conferences; it just happened to be with other people who were not standing first in line to meet “Top Presenter X” or some other really famous or well known person, but rather with more reserved people like myself. But I must agree, conferences are definitely not made for guys like us as they are more of a networking event than anything. In fact, in terms of actual new material, I usually don’t find there to be too much difference between what you could find in one of their products and oftentimes it’s just a presentation to pitch a product and increase your interest in it.

  14. Adrienne says:

    Ah, the big question Jens… What is more important and what will help you move forward in your business right now. That’s what I would base this decision on myself. We all love new things but do we really need them. Are they a must. That’s the big question and only you can answer that.

    Hey, good luck!

  15. Daniel says:

    Profound thinking! I like your wise decision though at first look it’s little bit funny but before taking a big step we should think this way to avoid further unexpected situation. I also love to live with constant fun and celebration and I’m extremely blessed that I’ve a fantastic family to do that 😉 so cheers!

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe: rss | email | twitter | +