What was the first big business investment you made when starting out that you later regretted? We've all been there - excited to dive in, yet lacking the experience to know where to best allocate our limited funds. As a new entrepreneur, every dollar counts. Before you swipe that credit card for the sleek logo or social media rockstar course, let’s review where you should prioritize investing instead.

1. CRM (Customer Relationship Management Software)

Securing a customer relationship management (CRM) platform needs to be first on your list. A CRM, like FG Funnels* (a subsidiary of Go High Level) helps you organize contacts and sales in one place. It keeps your data streamlined so you can nurture leads through customized email sequences and track your program analytics. This central toolkit enables you to build relationships and make sales. Without it, you lack infrastructure to grow.

2. Email Autoresponder

An email marketing service, also called an autoresponder, works hand-in-hand with your CRM. This tool empowers you to instantly connect with your audience. Imagine sending a promotional email blast to thousands with one click. Even starting small, an autoresponder helps you own your list rather than rent an audience on social media.

3. Website

While not every detail must shine, a basic website gives curious visitors somewhere to land. Early on, focus more on clearly explaining who you are and what problems you solve over color schemes. Consider a simple yet functional one-pager that captures contacts first. As you scale, your site can evolve to match your growth.

4. Certifications

Rather than fancy logos, funnel your funds into industry-specific training and certifications. Programs that help you earn qualifications show clients your dedication to mastering your craft. The letters after your name signal their trust should be well-placed. This credibility can’t be bought easily later.

5. Coaching

New entrepreneurs also overwhelmingly say they wish they had prioritized high-level business coaching over generic online courses. Coaches get to know your unique goals and challenges. They then provide tailored game plans, accountability check-ins, and on-demand support. With the right fit, you receive the personal attention required to accelerate your success.

Finally, be wary of unnecessary complex tools or prematurely scaling up operations. Fancy microphones and huge teams, for example, burden budding ventures. Start lean instead. As revenue proves consistent, you can comfortably reinvest back in wisely elevating your offerings.

Now you have insider guidance on the smartest ways to spend when your enterprise is young. What past business investment do you regret? Share below so others can learn from your experience.

*We are a proud affiliate of FG Funnels. If you purchase their software we may make a small commission at no additional cost to you.