Invest To Create a Successful Business

Of course you are going to invest in your business. You started with your time, researching, following up on opportunities, and paying for all the items you needed to get started. As Arlene Dickinson commented, “you’re going to need twice as much cash, twice as many hours in the day as there are, and twice as much energy.” There is no doubt you have already invested in your business, so what else do you need to invest in and why?

Growth and Competitive Mindset

If your business is profitable, you may have additional money to invest in new systems, people, marketing, products, operational equipment, locations, etc., and it is likely you will need to invest again to add a new market, marketing campaigns, or products to your already successful business.

The world around you

Because our economies, culture, and technology are in rapid change, your business needs to be vigilant for the changing market, competition, disruptive products, etc. If you have a successful business and you comfortably focus on remaining in this state, the world will change around you and eventually you will not be competitive.? By having a growth mindset, you have created a business that is watching for change. Not just you, but all your people.

Being vigilant means you will be ready to make changes as change is required, staying ahead of the decisions that must be made, so you have more options. If you leave it until all the change around you has happened, you will be in the ‘catch-up’ seat of your business, requiring more urgency and likely more money, time, and energy to catch up.

Your personal world

This mindset requires learning. This may mean you need to invest in training, education, research, reading, mentoring, coaching, and hiring other experts for their input, to not only ensure you know what else needs to be known, but your entire team is knowledgeable about what to be aware of.

Know that to keep up with change, you must always be open to changing yourself.

I have often said, “if we are not learning, we are dying”. Applied to business, this means, if your business is not investing in learning about what it needs to do next, it is likely on a slow path to being not-profitable.

You are thinking about growing your business. BUT, I bet, you’re not thinking about when you will leave your business. The best time to invest in an exit plan is when you want to grow not when you want out. Want to see how your business fairs? Take this free assessment.

This article is 100% original content – The articles you read in “Thoughts of Change” are 100% created by Barb Stuhlemmer, not AI.