Investing in your business – think value not cost!
Posted on January 5, 2015 by Nikki Lane
If you aren’t investing in your business, then you aren’t moving forward. Yep it’s a bold statement but investing in your business is something I feel passionate about and think is a MUST for all business owners. Here’s why…
For me the importance of investing in your business can be summed up by saying “think of the value, not of the cost.” After all, if you employ a business mentor at the cost of $200 per week, but the rate you are able to build your business doubles in response, you are well ahead in financial terms (as well as feeling better able to deal with the challenges of a rapidly expanding business).
Likewise if you invest in a course to learn a new skill or you pay a designer to create a professional website that brings in new clients then your money has been well spent.
Focusing on the value is similar to the way practitioners need to think about money and their clients – don’t think about the cost of your treatment to your client but instead focus on the value they are getting.
Taken out of context $140 an hour for a therapy session might sound expensive but if you asked a person whether $140 is a lot of money for something that improves their energy level so they can enjoy playing with their grandchildren then the answer is absolutely not!
It’s the same with investing in your business, particularly in terms of training (which is so much harder to quantify than the benefits of a photocopier). You need to weigh up the cost against the value of the return
Whatever your business you do need to choose how you invest your time and money carefully because not all training or mentoring will have you reaping in the benefits.
When choosing how to invest in your business I recommend you look for:
- Honesty – you want a clear idea of what you are signing up for before you hand over your credit card.
- The benefit to your business – stop and assess what the likely return for your investment of time, energy and money will be.
- Someone who really ‘gets’ your industry. One size doesn’t necessarily fit all!
And if you’re a practitioner looking to invest in your business and yourself why not check out our Business Pathway Program that we are offering in 2015.
Do you invest back into yourself and your business? If not, why not?