How to Get the Most out of your Business Investments

View and treat your business like the asset it truly is.

When you invest in other types of assets like savings accounts, GICs or in the stock market, you don’t expect to see spectacular immediate returns. You invest for the long term and trust in the power of compound interest. It should be the same with our business. I understand how frustrating it is not to see immediate results when the money is immediately coming out of your account, but it helps to take a long-term view and focus on the long-term prosperity of your business.

Have a clear understanding of why you were investing and what return on investment you expect to see

Investing in marketing advice? How many more sales calls do you expect to see in your calendar? Investing in a robust client contract? Who are the major clients who would take your business to the next level that you’ll now be able to go after? Concretize what you expect to get and keep that at the forefront of your mind.

Invest in things which drive more revenue without having to work more hours

Let’s cut through all the pretty Instagram posts and promised “secrets” to wealth- there are only two ways to make more money in your business without working more hours: build a team and/or invest in assets which generate revenue on their own. When you hire an assistant to take care of the administrative details that are so important but oh so time-consuming, you increase the amount of time that you are free to do business development or take on more clients. When you hire a marketing strategist, you should expect to see the number of leads in your sales funnel increase while not having to spend hours and hours Googling what to do. You may also decide to create a course or an online guide or you may apply for trademark registration to protect your brand and your reputation so that you can licence your mark. In all of these cases, you’re creating new relationships or new assets, both of which need to be protected for your business to continue to thrive.

How do you decide what’s worth investing in? Comment below and let me know.