How do you know when it’s time to invest in equipment? Or team members? Or an office space?
At Cleveland Flea, we use #TheHandcraftedMethod to help us decide when, how and why to spend money. What is the Handcrafted Method? It essentially means keep using what you have until it limits your growth or is making you miserable. This is a method of thinking and evaluating both financial and personal growth to continue toward a business that makes sense for a company, a boss and employees- if there are any.
If your computer is so slow that tasks take you double the amount of time than you have, it’ll limit your ability to make money. So, essentially that justifies you being able to invest in your business or yourself. Of course you’ve got to find a way to save up or make the cash for those purchases, but they do get you a return on investment- if used properly. This doesn’t only apply to physical items like offices and computers and chairs. It also applies to programs like Photoshop or Slack or Coaching. Whatever is limiting your growth is also limiting your financial gains.
If your mindset is what’s limiting your growth you MUST find a coach- weather that’s an author of a book you need to read or a DIY program or a 1-on-1 coach.
Lucky for you we’re holding a business mindset conference called Creative Conversations where you’ll be able to level up your thinking around Money, Creativity, Confidence, Commitment and Courage. It’s on September 29th and you can find more about it HERE!
THE HANDCRAFTED METHOD: A PRIMER
Step back and identify where you want to grow in the next 6 months to a year
Identify all things that are standing in your way that are in your control (so this doesn’t mean other people or the weather or customers, etc.). This is stuff like a broken computer or a really hectic home office that doesn’t allow you to focus at all.
Think about how much it would cost to level up your space, your equipment, your mindset, etc.
Think about how much more you could make by investing in those items. You’re not buying or upgrading just to buy or upgrade. You’re using this investment to get you further.
That’s the Handcrafted Method. Keep doing what you’re doing until it no longer works- and then find a way to solve for it.
Need more help with this?
Sunday, September 29th | $195 General Admission | 10am to 5pm (with social hours before + after)