3 questions when making your next business investment
3 questions to ask yourself when making your next business investment
One of the biggest questions business owners ask themselves when trying to grow their businesses is, should I be investing in my business. What should I invest in? Will this pay off?
And how do you know which investment is right for you, what is worth your investment (monetary and time!), and what is fluff.
The truth is, not all investments are created equal.
And while I do believe it is super important to invest in your business, it needs to be done wisely or you could end up with a whole lot of fluff and an empty bank account.
So what are some things you need to think about the next time you’re looking to purchase an online resource, or sign up for a membership or attend a conference:
How much does it cost?
Duh. But seriously, it’s easy to get “shiny object” syndrome and you have to have it no matter the price. Ask yourself, how can you justify this monetary investment. If you attended a $1,200 conference, you would need to sell 2-3 invitation suites to justify that – is that doable?
Will it be worth the investment?
HOW will it benefit you and your business? Is it something educating you on a topic that you lack in and will be bettering yourself on that topic help to grow your business? And yes, I 150% believe that even networking and meeting other creatives is worth an investment. My business is solid proof of that.
Will I follow through or commit to this investment?
Just raise your hand if you have purchased an online resource that you have.never.even.opened. *guilty*. Or attended a conference and came home with a book full of notes and ideas and never implemented a single one. *again, guilty* You need to make sure that you’re holding yourself accountable for your investments (or even have someone help you!). Want to read about how to complete your business investments? Hop on over to this blog post here!
I really do believe that those are some serious heart questions you need to ask yourself the next time you’re considering investing in your business to make sure you’re truly maximizing your investment.
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