The One Expense You Should Never Cut (Even When Money Feels Tight)

Contributed by SBOC Member:

Pat Miller

Founder of the Small Business Owners Community

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This week, I want to talk about spending money.

Now, I get it—this is the time of year when you’re looking through your taxes, reviewing what you made (or didn’t make), and thinking: Man, I wish I had more profit. I should have spent less money in 2024.

That’s a good instinct. Running lean is smart. But there’s one expense that small business owners should never feel guilty about. One category of spending that needs to be decriminalized.

Education: The Best Investment You’ll Ever Make

It is never a bad idea to invest in yourself—whether that’s taking a course, reading a book, or learning from someone who’s already figured out what you’re struggling with. Sure, education costs money. Some courses come with eye-watering price tags. But when you actually apply what you learn, it almost always pays off.

And here’s the thing: many online courses come with a 7-day money-back guarantee. If you buy a course and it sucks, return it. Advocate for yourself. But if you go all-in and actually do the work, you’ll come out ahead.

I know this because I did it this past weekend.

I Was Stuck, So I Invested in a Course. Now I’m Not.

I hate working all weekend. But last weekend, I spent the entire time diving into a course that forced me to look at my business differently. And guess what? It helped. A lot.

So if you’re sitting there debating, Should I really drop a couple hundred dollars on this? The answer is: YES.

I’m not saying you should send me the invoice (though, you know, I’d consider it). But if you’re stuck and you know education is the answer, take the leap. Future-you will be grateful.

And no, I don’t have a course to sell you right now. (This would have been a perfect time to plug one. I need to take a course on selling better, apparently.)

Remember, education is an investment in your ability to run your small business. When in doubt, buy the course.

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Contributed by

Pat Miller

Founder of the Small Business Owners Community

Pat spent two decades in broadcasting management and hosting. After leaving the radio industry, he spent time consulting small businesses and realized the support system for entrepreneurs was broken. Where could you find help for improving small businesses and building real connections with other like-minded people. In June of 2020, the Idea Collective Small Business Community was born.