Opinions expressed by Entrepreneur contributors are their own.
Contrary to popular belief, reaching professional goals doesn’t always have to equate to revenue. Although money makes a difference when growing your brand and solidifying your place as a successful entrepreneur, make sure you’re investing in yourself in other ways as part of a long-term strategy.
Sometimes, that means creating (and sticking to) healthy daily habits. In other instances, it may mean a small monetary investment for a bigger payoff down the road. Wherever you are in your entrepreneurial journey, there are ways to step out of a scarcity mindset and seek affordable ways to push yourself to the next level.
Investing in yourself doesn’t have to be expensive. You may soon find that all the ways you invest in yourself help you reach your revenue goals faster than you think. Here are a few ways to get started.
1. Establish a routine
Every entrepreneur has habits and tricks they swear by that have helped them get to where they are. Some promise being an early riser is what has made all the difference. Others make sure to schedule time for mediation. Regardless of what appeals to you, remember that everyone is on their path. What may work for some people may be a deterrent for you.
A good way to find a routine you can stick with is by dividing your day’s schedule into categories, such as projects, administrative work/meetings, health and wellness, and fun. Each of these areas is important. Prioritizing wellness and fun is just as important as focusing on work; otherwise, expect burnout as a consequence.
Once you’ve created your own categories, place them into time blocks. For example, if you like to exercise first thing in the morning, set aside time on your calendar that reflects that commitment to your health and wellness routine. Then, fill in the time slots with your other priorities for the day and repeat through the week.
It matters less when you wake up and more when you pay attention to your day.
Related: Best New Shows For Entrepreneurs Streaming Free Now
2. Level up your knowledge
The internet has made it easy to get free information. Whether you want to master social media marketing or learn new software, online tutorials and classes help you get where you want to be.
Many cities also have free classes or networking groups that allow you to add to your skill set. Stay curious and expand your mind in areas that will help you grow your business. Everything from project management to accounting to scaling your business can help you streamline processes and give you more time to focus on strategy.
Once you find an online channel or in-person mentor you like, you can decide if investing in a paid course or book is beneficial. However, start with the free knowledge available online and at your local library to understand what’s possible.
Add learning to your schedule as a set appointment for yourself. Otherwise, it can be easy to de-prioritize this important investment, which allows you to stay current within your industry and pushes you to connect to a higher level of growth.
Related: You Won’t Have a Strong Leadership Presence Until You Master These 5 Attributes
3. Cut expenses
Another valuable way to invest in yourself is to eliminate what you don’t need. This includes monetary costs and people or projects that are draining your energy.
Since time is money, it’s important to examine where yours is being used and make adjustments as needed. When it comes to actual monthly expenses, look at your bank account.
What subscriptions do you have that you no longer use? Which platforms are not working for you? Alternatively, which platforms are working well that you’d benefit from investing in a higher tier?
Furthermore, if you have a newsletter or paid ads to promote your business, how closely are you reviewing monthly reports? Are you making changes based on analytics? Even if you have a small ad spend, ensure it’s giving you the return you want. Otherwise, that cost can be distributed elsewhere.
Cutting costly connections and projects without a return on investment is equally valuable. Limit or eliminate the areas which aren’t fulfilling your needs. This can take longer to establish as there are likely more personal attachments, but being an entrepreneur means preserving your energy, not giving it away for free.
Essentially, evaluate all places you’re spending time and money and decide if it still makes sense for where you are in your business.
Related: 12 Cost-Cutting Strategies to Help You Thrive in a Slow Economy
Being an entrepreneur is a marathon, not a sprint
As with any other job, entrepreneurs have good days and bad. Since you are in charge of your own success (and failures), constantly reflecting on what is and isn’t working is necessary. It helps you change direction before going down the wrong path for too long. It also enables you to move out of your comfort zone when you get too comfortable.
Investing in yourself will always pay off. Though you may not see immediate results, its steadiness propels growth and ensures you are equipped to carry on for the long run.