Is it the right time to invest in your business?
Raise your hand if you relate to any of the following right now:
- You feel like you’ve hit a plateau with sales, your skills, your creativity, etc.
- You’re stuck. You can’t get around this GIANT wall.
- You’re on the cusp of something great, but you’re too bogged down by the daily crap to make it happen.
- You feel isolated and need a fresh perspective.
Whenever I’ve felt this way, it’s because I needed to make some changes... usually around how I’m (not) spending my money.
Why is it so hard to spend money on your business?
Investing in your business is a really difficult, stressful decision, especially if you have other people depending on your income. After all, you could be putting that money toward student loans, child care, or a vacation, right? But if one of your goals in the next quarter is to scale up or bring in more consistent income, you need to be making smart purchases for your business.
Business investments are a long-term strategy, they keep you ahead of the curve, make your operations more efficient, and reinforce your expert status. Big companies invest in better equipment all the time, so why wouldn't you?
One of my favorite mantras is “do what you can with what you have”, so I strongly advocate that it’s never too soon to put money back into your business.
Small business investments can be just as important as larger ones.
Reinvest as much as you’re able to right now, even if it’s “only” $50 on better stock images for your social media. Try to think outside the box, too: Can you cut out some Netflix time to read more books or connect with other entrepreneurs? Investing your time in new ways can be just as powerful as spending your money.
Another thing to keep in mind is to not discredit small investments as too insignificant to make a difference. Dozens of micro changes can have BIG impacts down the line. You may not see an overnight leap in your business, but, if you’re committed to investing in it regularly, you’ll look back in two years and easily see how far you’ve come.
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