Invest in yourself invest in your business.

By | March 2, 2014

 

invest in your business

One fact persist in business and that is investment or time and money is required to sustain and grow and you will never start a business in immediate profits.

Even if you are flat broke and can’t rub two pennies together you will have to invest labor which is worth a minimum $7.50 per hour. If you put in 20 hours a week in labor you are putting $150 a week into your business if you only choose your worth to be minimum wage. I personally count mine as worth at least twice that because of my experience in management and as a business owner.

Once you have a steady income built by labor you will need to re-invest that income if you ever want more as a human being is limited to just 24 hours in a day and needs 8 of them to sleep, 2 of them to eat, and for those working a day job we lose up to 12 hours a day to work. If you maximize your efforts through consistent testing and systems development you will still be limited to the number of hours in a day you have to give your business.

So you will need to learn how to ignore money.

When I say ignore money I mean your initial profits in your business. These are funds you survived without before your business, so pretend they don’t exist now when planning your budget. Invest them instead to make even more money next month and even more the month after. Keep rolling these funds over month to month until your monthly income is capable of both investment in your business and affording your chosen lifestyle.

Remember, you didn’t have this money before, and it can go to work extending your reach past your available hours. Let’ your money go to work for you.

 

 

 

It’s normal to see no profit for months at the start of a new business as sales grow and your network expands. You may have hundreds of hours and dollars invested well before you make a profit, but rest assured, if you quit you will never recoup what you lost, you are writing off all those hours, all that money, and saying I QUIT.

 

 

 

Quit is a 4 letter word a business owner should erase from their vocabulary. If you go in and say I won’t go past 6 months before I am in profits or I wont spend more than $2,000.00, then you are planning for the day you quit instead of planning for your long term success. Your business will most likely fail if you set arbitrary dates and cash goals as a measure of success because chances are you’ll be disappointed and feel you haven’t lived up to your dreams.