Welcome to The Business Rising Podcast! We provide education, inspiration, and application for busy business leaders. Today we talk about the different investments you can make early on, right now, and in the future that will help grow your small business.
Investments don't only refer to money - especially if you are trying to grow a business.
Time and the relationships you form are just as vital as balancing your check book or your cash flow.
If you're in the process of starting a business, or the idea is still rolling around in your head, it is not too early to start investing now.
Start by investing your time into learning as much as you can.
Read, listen to podcasts, get involved in webinars - do whatever you can to grow yourself and get as much knowledge under your belt as you can, before you start gaining experience.
If you have already started your business, and you are just in the process of growing, the same rule applies.
If you want to grow your business, you have to grow yourself first.
If you are starting out and do not have a ton of money, invest your time, and do so wisely.
If you do have money to invest, invest it wisely.
There is nothing wrong with getting small business loans - but consider being completely client funded.
You know what you can do - start there and just charge someone to do it.
You will learn along the way to price what you're worth.
When resources are scarce, you feel as if you cannot invest, but really you need to make smart investments in order to see your resources grow.
Invest in the right partnerships and software selectively.
Choose what and who will work the best with you, your ideas, and goals.
If it is not the best of the best for you, use as much free sites and platforms as you can until you do have more money to invest.
Hiring someone is one of your biggest investments and can either be one of your greatest partnerships or worst.
Be selective when hiring.
Don't just go for available hands because you're desperate for some help.
Find people who will compliment your work ethic, your core values, and who will work well with your personality.
Don't over look getting along with your team members.
You want people who will compliment your strengths and weaknesses and vice versa.
Be selective in your investments.
Don't waste time, money, and energy on the "newest and hottest thing" or on random people out of desperation.
Growing a business takes patience.
Be smart with what you have and you will see a return quicker than if you buy and spend impulsively on things that aren't actually the best for you.
The investment of your time is not overrated - be sure you are focusing on growing yourself so that you can better grow a business.