Return to site

Three Great Investments as a Small Business Owner

· Investing,Small Business Seeds,Grow Yourself,Investments,Top Investments

Disclaimer: I am not a certified financial planner or advisor. This article is simply a successful business owner sharing the things she has done to grow herself, money, and business.

I’m also going to preface this by letting you know that these are not your typical stock market type investments. They require time, energy, and money, but they are not your average investment.

Because if you want average returns, you look for average investments. If you want phenomenal returns, you discover unique investments.

Investment #1: People

I have absolutely no problem paying my people well over what the marketplace is typically paying, because it’s an investment I can count on.

It has set me up for success in so many different ways it’d be hard to count them all, but it has made it incredibly easy to fill employee roles (even when so many people are struggling to find hires) and it has resulted in a team that constantly has my back. Why? Because they know I have theirs.

But this isn’t something I only apply in payroll.

I’ve found other ways to invest in my people. We have a profit share system that they can qualify for even though most of them are still contractors. I regularly incorporate little unique gifts for them (E. G., I made one of my team members cry when I gifted her a nice journal set similar to what our attendees got at the Growcation2021) to show my appreciation, and I do my best to keep them in a good performance and mental health place.

The result is a team where I have to occasionally say “Ok, stop, we are going to let that be good enough.” A team where I can assign a task to a team member and suddenly be blown out of the water because they went above and beyond without any sort of instructions from me. A team where members see a need and volunteer their time to create the revenue needed to fill that need.

Investing in your people is, honestly, the best investment you could ever make!

Investment #2: Toolkit

This is essentially investing in myself. In what I know, how I work, and how I think.

Practically, it comes down to purchasing books, event tickets, and courses, and then actually going through them. And I do mean going through it. We all (myself included) have a tendency to purchase growth tools and not use them, but the truth is that knowledge is not power. Applied knowledge is power. For me, it looks like having a month or so where I’m gathering knowledge and then the next few months are full of applying it to the different aspects of my business. Going through my notes and actually sitting down to project plan and adjust my CRM to align with what I’ve learned.

To truly invest in your toolkit, you need to acquire and then apply knowledge. It will take you leagues beyond where you currently are. 

Investment #3: Network

We’ve all heard the cliche that “your network is your net worth.” But let’s think about it for a second…

I started thinking about this recently because I saw something that made me pause. It was a small cartoon of two dudes talking. One said “I keep 6-12 months worth of expenses on hand at all times.” while the other said “Honestly? I keep three months and trust that if something happens to me, the numbers in my phone will keep me out of trouble before I’m out of cash.”

Obviously it’s a great idea to have cash reserves in case something happens, but what happens if you literally can’t take care of yourself? 

It made me realize that you can’t underestimate the impact that your network can have for you. Everything from unique connections and partnerships to support in times of need can be a part of your network, which is why it’s a valuable investment!

One trick I’ve learned for developing a valuable network is to attend events where there is some sort of parameter that must be met for attendees. Carefully screened rooms are absolutely the best for finding the kind of like-minded people you’re seeking to connect with!

These are the things I invest in…

And I’ve seen them make a huge difference in my life, but I would encourage you to start with just one for now. Remember, small steps make the biggest changes.

 

All Posts
×

Almost done…

We just sent you an email. Please click the link in the email to confirm your subscription!

OK