Here’s the deal:
- There are no sponsor links in this email
- I have no products or courses to sell you
- This email is designed to get you to save your money, not spend it
In other words, this email is a bit of a unicorn.
After all, making money online is what I do for a living.
And when you do what I do, “selling” to your email list is as routine as drinking a cup of coffee.
And yet…
And yet I’m not trying to sell you on anything in this email.
Why?
Because of one little word that’s packed with big implications:
Trust.
Trust is Earned. And I Haven’t Earned Yours Yet.
If your inbox and social media feeds are anything like mine, you’re bombardedwith promotions every single week.
A small handful of them come from people or brands I genuinely admire — ones I know are smart, honest, and know what they’re talking about.
The rest?
They’re people/brands using psychological triggers to get me to buy stuff I (probably) don’t need.
To them, I’m a walking, talking dollar sign.
Jon (Morrow) has taught me lots of lessons over the years, and one of the biggest (I’m paraphrasing) is this:
“If you create products that will genuinely change people’s lives, you’re not ‘selling.’ You’re handing out golden tickets.”
Someday, I’m sure I’ll create a course of some kind. I may even start a second (premium) newsletter or online community.
And when I do, I’ll excitedly share them with you because I know they’ll be good and valuable and capable of impacting your life for the better.
But until then, I’m in the trust earning business.
And the way I earn yours isn’t by plastering my emails with affiliate links for products you may or may not care about or need.
I do it by helping you…
Answering your questions…
Providing so much free value that you’ll happily become what Kevin Kelly calls “true fans.”
And to that end, I’m going to help you save money.
I’ll show you what you need (and, more importantly, don’t need) when starting out as a solopreneur.
2 Things You SHOULD Spend Money On
Everyone’s needs and situations are different, so if something I say doesn’t apply to you, skip it and move on.
But after working with students of all experience levels and consulting with businesses of all shapes and sizes, here are my two cents on what you should be spending your money on right now:
#1. Improving Your Skill Stack (in the Areas That Matter)
The web is filled with great, free material that can teach you all sorts of things.
Leverage it. Learn all you can.
But know this:
If there’s a particular area you need to improve in for your business (writing, marketing, SEO, etc.), paying for education…
Provided you can afford it and provided the person teaching you knows what they’re doing…
Will almost always have an amazing ROI (return on investment).
The faster you learn the skill, the faster you can begin implementing it. And that saves you time.
Speaking of which…
#2. Things That Save You Time
Time truly is the ultimate equalizer.
Elon Musk has 24 hours in a day. So does Warren Buffet. So do Alex Hormozi, Jon Morrow, and any other successful individual you look up to.
We all get 24 hours each day, not a second more.
So anything that helps you “get back” or maximize any portion of those 24 hours is (usually) money well spent.
A new mattress or pillow that helps you sleep better…
An app on your phone that helps you track your time…
A tool that automates tasks for you…
If it helps you save time, strongly consider grabbing it.
And if it’s too expensive, find a lower-priced (or free) alternative that can offer the same benefits.
Things You Should NOT Spend Money On
Honestly?
Almost everything else.
I’m exaggerating… but only slightly.
If something doesn’t fit into one of the two categories above (improves your skills or saves you time), question it.
Question it with the focus and intensity of a thousand suns.
Ask yourself:
- Do I need this to do business?
- Do I need this much or could I use less?
- Are there other options available that cost less?
Most of the time, you’ll realize you don’t “need it” — or, if you do, that you can easily get by with a free or lower-cost version of it.
For example, do you “need” a web host if your business has a website? Yes, of course.
But that doesn’t mean you can’t start with a hosting provider’s lowest tier. Start at the bottom, upgrade when/if it’s needed.
Keeping your costs low — especially in the beginning — is an under-appreciated business “hack” no one seems to talk about.
It isn’t sexy, so people ignore it.
But here’s the reality, and it’s true for small solopreneurs and big companies alike: the higher your overhead, the harder you’re making it on yourself.
At Smart Blogger, every month our leadership team reviews our SaaS (software as a service) costs and scrutinizes each expense.
What do we no longer need? What could we downgrade? What could we replace with an alternative?
It’s a great habit to get into.
It’ll help keep your expenses low…
And it’ll help protect you when your inbox is flooded with offers and “FOMO” reigns supreme.
Good luck out there.
Appreciate you…
Rooting for you…
Talk to you next week.
