I'll spend my last dollar on something business related

[Harold Mansfield]

When you guys first started out, did you spend every free dollar on growing or supplying your business?

I am very impulsive when I see something that I think will either help me make money, or be able to offer better service to clients and will spend the last dollar that I have ( at the moment) to purchase, or license it.
It's not as often as it used to be because I'm not as broke as I was, but it still doesn't scare me to do it.

Just wondering if that is normal or irresponsible?

[Steve B]

I've been the same way. It's scary the amount of spent as a gamble for a future payoff. Still waiting ...

[Harold Mansfield]

Yeah, I can honestly say it hasn't all been good investments. Probably 25 percent wasteful spending at first. Now I investigate possible applications and take my time, but if I decide it's worth it I'll still go all in.

[AmyAllen]

I'm the exact opposite - I haven't even been able to justify some of the basics yet... like a printer. I keep a list on my desktop of things I would love to get for my business, and I always tell myself that once I get another gig I'll get this or that.

To be honest, I probably need to be a little more willing to invest in my own business - but it's been a hard year and I've been cutting back on expenses both personally and professionally.

One thing I would love to try is TypeKit (http://typekit.com/). It's an interesting solution to the limited fonts problem for web design.... Someday! But first - a printer! :)

[Harold Mansfield]

One thing I would love to try is TypeKit (http://typekit.com/). It's an interesting solution to the limited fonts problem for web design.... Someday! But first - a printer! :)

God I wish you hadn't done that. I saw that a while ago and filed it under my "tools" bookmark. Now I'll be looking at it for a few days.

[AmyAllen]

Oh good! Maybe you'll subscribe and you can tell me if it's worth it ;)

[Harold Mansfield]

Oh good! Maybe you'll subscribe and you can tell me if it's worth it ;)

Way to appeal to my business ego. Nice touch.

[jamesray50]

Yes, I do or want to. Like when I paid $19 for a directory listing. I did get the confirmation email after I filed a resolution with Paypal. But the little things add up. My memberships in a couple of organizations are expiring soon, one is rather expensive. My former always paid it and now I will have to pay it, but I need it for my business so I'll have to pay. The other one is rather inexpensive, but I like the benefits of being a member of that organizations so I will renew. But, since I don't have income coming in, I have to keep expenses down.

[Patrysha]

What I tend to do...or at least try to do, when I find something I want to have is figure out how many clients or projects I'll have to invoice for to afford it...and then go back and buy it later once I've reached the goal. A couple of times I have been impulsive -like when a great domain was put up for sale or when a PLR package that just fit perfectly with some of my goals...I had to stretch for those a bit. Now if I could just get my act together and actually set up to use them...I might start getting somewhere. I don't think I've ever bought anything that was a really bad investment...but there's been a lot of waste because I don't always use what I buy and things get lost in the shuffle...I keep meaning to get more organized...but it hasn't happened yet.

[Harold Mansfield]

Domains are my big weakness. I mean for $10 a shot it's really not that huge of a decision. I used to actually spend time looking for stuff. Now I just rush to the computer when ever an idea pops into my mind to see of the domain is available.
Especially when watching the news or a TV show and someone says something like "And there is no resource..." or, "If only there were..." Probably me and a million other webmasters doing the exact same thing.

[Spider]

For me, this is an unnatural way of looking at money, although I accept that it is commonly done amongst small businesses - treating money as a short-term commodity rather than as a long-term asset.

To answer Harold's initial question : "When you guys first started out, did you spend every free dollar on growing or supplying your business?" --

When I started out, I didn't start out as a one-man band spending (or not spending) my own money - even though the money had been mine until I transferred it to the business account. (Notice the thought process - it was no longer MY money - it was the company's money now, even though I was the only employee at that time.)

I started Day#1 paying myself a salary - with what was austensibly my own money. Notice the tax implications - I had taken my savings, on which I had already paid income tax, and paid it to myself as a salary, again incurring income tax! But there was a purpose, here. I was not "in business for myself" - I was not "self-employed" - I was an employee of a (soon-to-be) large and profitable company. Right from the outset, with one employee (me) and no work (yet), "we" were a large and profitable company.

I think taking this attitude was what had my company hitting the ground running. We (because I had several people ready to quit their jobs and join me, once I had landed a worthwhile contract) felt like a substantial company, acted like we were a substantial company and were accepted into the business community as a substantial company, from Day 1.

Perception is reality!

[Evan]

Just wondering if that is normal or irresponsible?

If you had to ask, you should know the answer then. :)

Before making a purchase, I tend to try to make an educated purchase by looking at reviews and determining what I want. I'm not very big on "impulse" purchases. [Except at the grocery store, where I seem to be like a kid.]

[DeniseTaylor]

I wouldn't say investing money in your business is irresponsible, but I guess it depends on how you're doing it or how much you're spending.

For example, if you're not paying your mortgage or credit card bills because of it, then I'd take a look. If you're gambling away money that should be spent on your kids to put food or clothes in their mouths, that's probably not good.

I think it's natural to try to make one's business expand and do everything you can make it happen. I would definitely stay away from things that promise to make you rich overnight. That is classic scam, and just plain foolish.

[greenoak]

THATS me for sure....but for things that i thought would really work and things real directly connected with selling... ...not a new truck when the old one was ok.......but if the right merchandise or idea came along and i thought i had a buyer i was there for sure... i was always very confident and it usually worked out..., and some waste but not much....
that kind of thought really has helped us expand and change with the times...and experiment...dh is the bookkeepper and we joke if it was all up to him we would still be in the garage...instead of in 3 buildings...

[Paper Shredder Clay]

I think as long as you are making good sound business spending, then yeah, use all the available money for it.

[dojo]

Have done this in the past, both with my business and my once huge web site network. I am not realizing MONEY IS IMPORTANT and I do try to spend it WHEN I NEED to, not just because I "feel like". If I did this years ago, I'd be in a way better financial situation