It’s Not An Expense — It’s An Investment
As you are starting or building your business, it’s common that costs will rise as you begin to invest in people, products, or programs to grow your business, but it’s important to see these expenditures as an investment and not as an expense.
I’m sure you’ve heard the phrase: “you’ve got to spend money to make money.” Although it may sound cliché, it’s actually true. At the end of the day, you can’t expect to be able to do it all yourself, and whether you are hiring a business coach, attending training courses, or buying programs to save you time, or help your business run smoother, spending the money is worth it!
Spending money can be hard, but it’s important to change your mindset! Say it with me: I am investing in my business.
So, what exactly is an investment?
An investment, so the theory goes, is spending which creates an asset which will help produce profits over a number of years.†
Here are 3 reasons why investing in your business is important:
1. Your business will grow!
As mentioned above, you’ve got to spend money to make money — and it’s true in every business. There is always an investment up front needed in order to generate a revenue stream and continue growing your business.
When you make an investment in your business, whether it’s in its people, products, programs (or other), you typically want to see a ROI (Return on Investment) in a timely manner. Ideally, this number is higher than the initial investment, but it takes trial and error as well as continued investment and dedication to get there.
Although, some investments may not have a clear ROI and there’s always risks in investments. The same goes with some expenses ending up being sunk costs that won’t be recovered. It all comes down to making the most calculated and thoughtful decision based on the information presented.
As you continue to invest more into your business across categories, you will see that your business will grow and in some cases, create more opportunities too. Stop seeing your spending as expenses!
2. You & other people will take your business seriously
Once you start investing in your business, you’ll really start to see your business in a more serious light. It doesn’t mean that if you aren’t investing now, that you don’t take it seriously, but it just means that when you begin to more consciously invest your money into product development, hiring staff, meaningful programs and more, that you’ll reap the benefits.
As an example, I invested in the branding of JDP Consult through Free Afternoon, a creative agency, and launched a completely new website, logo, brand voice in late 2022. This investment alone has immensely grounded my business’ presence, allowed my business to be recognized as well as allow it to have its own voice and uniqueness.
The idea of investing to work smarter, not harder is an important notion & leads into the next benefit of learning to invest in your business!
3. You will save time, be less stressed
It’s nothing new that running a business is hard, but remember: you don’t have to do it all yourself! By investing in your business through outsourcing tasks, hiring staff, or even attending courses or training programs, you will save yourself time and ultimately reduce stress.
Time = money, and your time is worth something. Running a business requires a lot of work and skill in a plethora of different disciplines that you may not be familiar with and guess what? It’s OK to ask for help!
Once you begin investing in the people and services to help make your life and work easier, you’ll find yourself saving time and feeling less stressed so you can begin focusing on the tasks that you are good at and are the most important for the company.
For me, in my business, I invest in a variety of ways:
people such as a business coach, VA (virtual assistant), and content developer to help me in areas that I’m not strongest suited in and/or need help managing and it has helped me free up my time significantly, giving me more time for my clients and to focus on the important business matters.
courses that can help grow my business and product offering, further my expertise and experience in my field, as well as help me continue to learn and keep up with business and field trends.
There are so many free courses available out there to further your education as well — one I would highly recommend you check out are Harvard University’s free business courses!
services and programs that can help me manage my business! There’s a lot that comes with running a business: bookkeeping, task management, design, marketing, and so much more. It’s so important to stay on top of these things, and I use a variety of services and programs to do so — check out my blog post JDP’s Top 10 Must-Have Tools to Scale Your Business for my top recs!
Now, if you’re looking for a Fractional COO to come into your business and help your day-to-day ops to scale your business, that’s where I come in. I invest in my clients, and in turn, they invest in me! When you work with JDP Consult, my service is an investment for your business.
HI THERE, I’M JORDYN
Serial entrepreneur, strategic integrator and financial aficionado.
My mission is to revolutionize the way businesses grow with strategic clarity and implementation. It goes beyond consultancy—as I want to be a dedicated partner in propelling your success with strategy and impactful execution with zest and honesty.