Invest Back into Business for Financial Growth
As a startup blogger and virtual assistant back in the day, I hated the idea of investing any money into my business. I had to save it all, because by nature I am a saver not a spender. As years went on, I sort of got stuck into this consistent income phase. I couldn’t make much more than about a couple grand if that a month and while it helped support three kids, I knew there had to be a method to increasing that revenue. There are so many ways to make money online, why was I stuck in a rut of making just the same each month?
Don’t Get Stuck in Fear
I was stuck because I was scared to invest any profit back into my business. I simply invested the startup costs of a hosting plan, a domain and some other small necessary items but neglected to look into the bigger picture of business. In order to run a successful empire you must invest some funds back into the business to help it grow. This is something I have started to be more open minded of, after going back to work outside of the home as an administrative assistant, I quickly realized I made more cash online than getting a bi-weekly paycheck. I felt unfulfilled after a year’s time and had to go back to working at home.
Make a Change
This time I knew things would be different. There was going to be more smart investing to support the business and I would narrow down what I wanted to do as a grown up. I started being a ghostwriter. First dabbling in writing content and selling it directly in Facebook groups, I was averaging about $60 or more an hour depending upon the article topic. It was fantastic! Then I thought about automation or pushing content creation as a ghostwriter for company blogs. There’s more out there to do when you think about it, so how could I get creative?
I invested some funds into a content delivery system. I started investing about $20 per month in Facebook Ads and I started writing from the heart to market my skills on my blogs. I am good at telling a story but not so good at selling in a cold call type way. This was my calling and my calling required some cash investments.
Ask Yourself These Questions
While I don’t know exactly how much money I have invested back into my business this past year, I am sure it was just enough. Here are some thoughts I had and still continue to go back to whenever I feel the desire to purchase another plugin, domain or other business necessity:
- What is the cost compared to how much time it will save me?
- Will this help boost sales or is it just a gimmick that may work?
- Is there a trial period to test out what I want to purchase?
- What is the benefit of spending cash on this product or service?
- At the end of the day, will I be okay financially if I spend the cash?
Sure there are more questions involved but those are the simplest ones that matter the most. So today, when you are sitting here wondering why business is staying the same; ask yourself if you have invested any profit back into your business. If you answer no, then start thinking about cost effective ways to put some funds back into the business. When you do this, you will start to see a substantial increase in income and you will thank yourself later!