Understanding Return on Investment
The hardest part of building a business is the signal to noise ratio. Every second someone offers something to tilt our sails in another direction. What keeps successful business folks unwavering and always on course? Serious business folks see everything as return on investment.
Invest in a Plan
They say it takes money to make money. Not so. Some folks do it with sweat and charm. But like every well-funded business start-up, the key is that they invest wisely. They’ve thought through a plan to get from point A to point B, and that plan is no pipe dream. The plan is everything.
You need to invest to build a business.
Folks who succeed are invested — in with “both feet.” They put their time and money down, and then they make sure that they get a return. Look at Wendy.
An example: Was going to SxSW a good business decision? I made it so. I put my money down and held my feet to the fire — Mission: get that value back. I pre-arranged meetings, had a plan. Sounds basic, but I talked to plenty of folks who didn’t do that.
I got the return I planned on — more really. An investment outlook changes everything.
Starting a business is a decision, not a “let’s see.” You can’t be “half in” without being “half out.” Who wants to give their important work to someone who’s not fully committed to being there tomorrow?
Are you invested? Do you know where your business will be in three years?
–ME “Liz” Strauss
Work with Liz!! SOBCon08 is May 2,3,4 in Chicago. Invest in Expert Models, An Actionable Plan, and the Support of a Mastermind Team! Register now!