How Much Money Should I Invest in My Business?

People often ask me: “Coach, how much money should I spend on my business?”

I answer them that 10% of their gross should go towards marketing, advertising, and education.

“But Coach I am not making any money!”

To which I answer: “Correct!”

And that is a major problem and stumbling block to most people who fail in their businesses…No investment – no income!

Once you decide on your desired income, you take 10% of that goal and spend it on your business…I promise that you will be glad you did!

I use to end all my seminars with this tag line: “The greatest investment one can make is in oneself”.

Ask yourself this question: “Are you worth it?”

I suggest your first goal should be to break even in your business.

Second goal should be to make enough residual money to cover your monthly obligations.

Once this is accomplished, you can set a goal to create enough passive income to pay for your lifestyle and provide for your financial future.

This formula worked for me:
10% for savings or debt retirement,
10% for charity,
10% for rainy day,
10% for business,
60% for living (includes taxes).

The first rule to creating wealth is so simple yet so hard – PAY YOURSELF FIRST. The physiological impact is mind boggling.

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Gary Massari
30Minute-Millionaire.com