4 Investments You Should Make To Grow Your Business In 2021

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It can be hard for entrepreneurs to make investments, because they know it is their hard-earned money, and letting any of it go can hurt. But investing in your business is crucial in order for it to grow.

Today we are going to share four areas of your business that you should invest in this year. These are all areas that we personally have invested in, and we’ve seen huge rewards because of it.

You can watch the video of our full discussion below or just listen to the audio version as a podcast. If you want more content like this you can subscribe to our Youtube channel.

Click below to play or go here to listen on your favorite platform.

Software

There are so many tools out there that can make your life as an entrepreneur so much easier. When we first started out we tried to do everything on our own, and it just wasn’t scalable. If we had continued on that way we would have been constantly burned out, frustrated, and we probably would have ended up hating the business.

But instead, we invested in software like Hootsuite, Sprout Social, Kajabi, Google products, Dropbox, LinkedIn Premium, Streamyard, etc…

It is so worth the money you pay each month to be able to save yourself time and effort.

Hardware

This is another big area to invest in that will have a huge impact on your business. We invest in things like a good camera, a quality microphone, MacBook computers, professional lighting equipment, all of the things we need to create our digital content.

So what hardware do you need to effectively run your business?

Your Team

The people you work with can make or break your business. Having the wrong people in place can cause a toxic atmosphere, it can divide the rest of your team, and it can make every day at work a horrible experience. So it is so important to invest in a good team. If that means you pay someone more per hour to get a great person instead of a so-so person — do it!

You want to have people you can count on, people you can trust, people who work hard, and who believe in the vision of your business. When you invest in good people it takes work off of your plate and helps you focus on the things that matter for the growth of the business.

You should also invest in education for your team as well as the tools and technology they need to get their jobs done.

Yourself

This may be one of the harder areas to invest in, but it is another one that will benefit your business. As an entrepreneur, you have to be at your best every single day, and the way to do that is by investing in yourself.

You can invest in meditation apps, workout equipment, healthy food, a personal or business coach, massages, therapy, etc…

We have found that there is a strong connection between how we feel personally (physically and emotionally) and the work that we do. This area of investment is probably the most taboo, but it’s also the most important investment area. If you don’t feel good you aren’t going to fully show up to work every day, you’re not going to take risks, you’re not going to make good decisions.

Now more than ever, people are moving from full-time employment to entrepreneurship. We are collectively realizing that the only job security that exists is the one that you create for yourself, but how? My wife Blake and I are successful entrepreneurs who both made the transition while we had full-time jobs. You can learn how here.

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If you enjoyed the article and want more content like this here’s what you can do:

1. Subscribe to The BYOB Podcast Newsletter to get notified when a new episode comes out (once a week).
2. Listen to episode 60 of the podcast where we talk about these things in much more detail including sharing our personal stories.
3. You can also connect with us on Facebook, Instagram, Twitter, Youtube, and Linkedin.
4. If you’re interested in sponsoring or have suggestions for the show, you can send us an email at [email protected].