Where do you look these days to find good returns for your money?
Do you have investments that pay big returns in this current economic climate? What sort of return do you consider “good”?
I talk to a LOT of business owners in my line of work. Over the past fifteen years, I’ve noticed two interesting things about many small business owners:
1. They view their business as a paycheck source.
2. They believe that the capital invested in their building, equipment (much of it dated and aging), inventory, etc. somehow will be enough to support them in retirement when they close the doors and/or sell it all.
These views are only part of the picture – and if this is your only expectation from your business, you are selling yourself far short and missing out on possibly the biggest opportunity of your life – financially speaking.
I want to challenge you to think differently about your business.
Your Business Is An Investment!
The first key to making more money as a business owner is to quit viewing your business as a just a paycheck. You must view your business just like you do your stock portfolio – except with a position of control. Business ownership first and foremost is an investment. And investments by nature should produce a return on investment.
The Modern Guide to Making Money in Business
This blog has always and will always be about helping people sell stuff. It’s also what I do in my professional life. I’m a professional rainmaker. Whether you are selling services, products, experiences, or charitable support – we are here to help you sell more of it. And despite popular belief, selling more starts with the mindset on your part that every penny you invest in your business or turn over inside of your business should produce big returns… You should be able to measure everything and know that your business is paying everyone a fair wage (including you if you are working in the business actively) AND that there is still profit being taken OUT of the business on a regular basis. That is what making money looks like.
The first step to making money in 2011 is to actually believe that small business is a great place to invest your money.
You can only accomplish this if you maintain wise control over your investment. While the rest of the world seems to be falling apart, you will start acting like your business is an investment – and do business with that in mind on a daily basis.
What do you think?
Photo Credit: K.Hurley