What Does Investing in Your Online Brand Look Like in 2025
Some Food for Thought
Quick Announcement
Holiday Break Dates
I am taking a publishing break from Monday, December 16, 2024-Sunday, January 5, 2025. The first 2025 edition of the Creators Getting Paid Newsletter will be published sometime during the week of January 6-January 10, 2025.
In this week’s newsletter I’ve included links to previous editions of the newsletter to check out just in case you missed when they were published.
Previous Case Studies
A Conversation with Rahkim Sabree
Overcoming Financial Trauma
YouTube Creators
How One Creator Raised $70,000 Dollars (for An App)
Anna DeShawn
Thinking About Hosting a Virtual Summit?
Paulette Erato
How to Work With Brands and Serve Your Audience
Julien and Kierstan Saunders
Photo Credit: Murilo Bahia Unsplash
Affiliate Disclosure
“In order for me to support this newsletter, I may receive monetary compensation or other types of remuneration for my endorsement, recommendation, testimonial and/or link to any products or services from this blog. Please note: As an Amazon Associate I may earn income from qualifying purchases that you may make if you interact with an Amazon Affiliate link associated with Creators Getting Paid”
Investing In Yourself
I’m going to keep it real and say that I kind of hate the phrase “investing in yourself” specifically in the way that many online content creators use it in their content. Despite that, I think it’s important to talk about the following as it relates to growing an online (part-time or full-time) business or brand.
You Will End Up Spending Money
On something during the upcoming. How impactful that money being spent depends on a couple of things.
Goals for your year
Strategies for business growth
Professional development priorities
Technology needs
I debated whether or not to share this post in January, but then I thought that some of what I’m sharing may change how you budget for the holidays. The goal of this post is to help the thousands (OMG) thousands of creators in the Creators Getting Paid community proactively think about what their business budget looks like in 2025 and what their priorities are moving forward.
You May Be Thinking-Chill Michelle!
I need a break from 2024.
I totally understand this and I do too LOL! But, I’ve already begun working on my business priorities for 2025 and what that looks like related to the amount that I will have to spend to make some things happen. I’ll share my personal stuff with paid subscribers.
What Investing In Yourself Looks Like
In 2025
This is a proactive approach to help you plan your upcoming year. Before working on your 2025 budget, I would encourage you to do the following:
Do an analysis of what you spent in 2024 based on the categories shared below.
Reflect on ways you saved on expenses this year…can you do these things again in 2025?
Travel hacking-Some people are pros at using credit card rewards programs to cut their travel and accommodation expenses.
Speaking at conferences-Doing this will often eliminate the cost for the ticket to attend.
Accommodation hacks-Sharing a room, staying with friends/family or rewards points
Applying for Grants or Scholarships-ALWAYS, ALWAYS apply. Fewer people than you think apply to those opportunities.
Attending Conferences (in-person or online)
How many conferences do you plan on attending in 2025?
How much are the tickets?
Will you have to fly? Drive or Take the Train?
Do you prefer to split costs by sharing a room?
Are you over sharing a room with a roommate?
What will you need to wear?
Do you plan on combining a vacation with your conference attendance?
What’s the budget for all of that? Set up Ally Bank Savings Buckets or Qube Money Digital Cash Envelopes to allocate towards these expenses. Do your own due diligence related to either product.
Tools and Resources
There are a number of items that could fall under this category. Here’s an incomplete list to consider.
New (to you) Laptop-If you use something daily what happens when it eventually needs to be replaced.
Headphones
Mics for podcasting
I’m looking at upleveling my mic in 2025
Ipads (etc.)
Vlogging Items-Camera! I just bought one (forgot to add it to my total)
Podcasting kits
Subscriptions to services-These could be monthly or annual purchases
Newsletters
Co-Working Spaces
VPNs
Memberships
Masterminds
Clothing subscriptions
AI Related services such as CastMagic
Coaching-It’s important to work with someone who knows more than you do to help gain clarity around areas that may be stressful or that you are needing support with.
Workshops/Retreats or Something In-Between-These are offered by creators and organizations throughout the year.
Miscellaneous-I’ve allocated funds to purchase tickets for conferences to gift to Creators Getting Paid Community members. My goal is to get people in the rooms that could transform the work that they’re doing.
Designing Your Own Opportunities
I feel like we don’t talk about this enough. Sometimes you just have to stop waiting for someone else to create the thing you want. Instead YOU have to design what you want. I have a couple of friends who did that this year, most notably my friend Jen Ruiz who financed her own book tour for her traditionally published book.
That wasn’t cheap.
What types of opportunities am I thinking about?
Virtual Summits-like the one my friend Paulette Erato designed for her Latinas in Podcasting Community
Podcast Tours-Have a podcast and you’d like to meet your listeners/viewers (or, both) maybe that means touring around the country with stops in unique spaces.
Hosting an in-person event-In 2019 I hosted my “Money on the Mountain” Retreat. It was a wonderful experience. But, it also cost $10,000 to produce-for 30 people. Luckily, I had a ton of support for the event and ended up in “The Black”
Record a cool video-I’m a huge fan of Joshua Neal who is a ridiculously talented actor and videographer. He wanted to become a paid actor and instead of waiting to be hired for the work that he wanted to be paid for-he created the work he wanted to be paid for. He’s now a paid actor. Check out the trailer below (he’s the boyfriend) Those videos cost him money and time.
Personal Expenses
Then there are the personal expenses that we need to think about.
Taxes!
Health Insurance Coverage-This one is huge! I keep getting notifications from Connect for Health Colorado which is my state’s exchange-it’s pretty decent too. You have to pay your first premium when you enroll in Colorado’s exchange.
Dental Insurance-Still feels like a scam, but I get my teeth cleaned every 6 months, x-rayed, etc. And I absolutely love my dentist. He uses a 3D printer for caps, etc.
Fitness Related Expenses-How do you stay fit? I love taking dance classes, yoga, etc.
Community Related Expenses-How do you stay connected?
What If You’re Not Sure
Again, I know that this is landing in your in-box at the end of the year. I’m tired. Real talk, I just feel like laying down and reading books all day.
Consider This As a Starting Framework
You don’t need to have all the answers, this is just a guide to help you as you begin proactively planning the upcoming year. The signs are that next year is going to be a bit…chaotic. Plan your way around the chaos so that it doesn’t railroad your progress and momentum.
What Is Michelle Spending $25,000 On?
Here’s a behind the scenes on what I’m planning on spending money on for next year. I also realized that I’d forgotten an important expense.
Before you check out the details I have an “ask”
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