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March 18, 2008

Are You Invested Enough to Succeed?

ME Liz Strauss wrote this at 8:02 am

Understanding Return on Investment

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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!

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11 Comments to “Are You Invested Enough to Succeed?”

  1. March 18th, 2008 at 9:13 am
    Barbara Rozgonyi said

    Thanks for the leadership influence, Liz.
    These words jumped out at me . . .
    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?

    The half in/half out is a great visual and a good analogy. Going into any relationship with an idea of what you want to share, exchange, value and plan for is a wise approach. Keep asking those tough questions!

  2. March 18th, 2008 at 9:15 am
    ME Liz Strauss said

    Hi Barbara!
    We have to take ourselves seriously before anyone else will. Folks sense ambiguity. Who wants to invest in that?

  3. March 18th, 2008 at 10:41 am
    Karin H. said

    Hi Liz

    I’ll go even further than the three years: I know where I want to be in 5 years time, which tells me where I’ll have to be in 3 years time, which ‘dictates’ me what I’ll have to do this year ;-)

    Which reminds me of a tag I still owe Robyn, but business is getting in the way of fulfilling that blog-post. In a way that also means I’m totally ‘in it’ with both feet, not half in or out.

    Karin H. (Keep It Simple Sweetheart, specially in business)

  4. March 18th, 2008 at 1:25 pm
    Barbara Ling (aka Owlbert) said

    Morning,

    This line:

    Was going to SxSW a good business decision? I made it so.

    says it all.

    You own your own destiny; nobody can make it come true for you except your own blood, sweat and tears.

    Enjoy,

    Barbara

  5. March 18th, 2008 at 1:53 pm
    michal said

    I found it very difficult to imagine, where I will be in 3 years. I cannot properly manage plan for tomorrow. It looks like I am just searching the coordinates. But aren’t we all searching it?

  6. March 18th, 2008 at 6:03 pm
    Anthony Lawrence said

    Well, I certainly agree but personally I’m in a slightly different mind set. I’m 60, and PMR (Pretty Much Retired). I still have a business, but even now I only go after the low hanging fruit - I’m not interested in working that hard any more, and I’m not interested in investing time or money (been there, done that).

    But yes: when you are still in the building stage, sometimes you just have to do what must be done..

  7. March 18th, 2008 at 6:07 pm
    Anthony Lawrence said

    How’s that old saying go? Oh yeah: ask me no questions, I’ll tell you no lies.

  8. March 18th, 2008 at 6:10 pm
    Anthony Lawrence said

    Ooops - how did that last comment land here? It was supposed to go on another site entirely!

  9. March 20th, 2008 at 7:27 am
    Howard Cox said

    Hi Liz,

    Success requires two disciplines.

    1. Planning
    2. Focus and Execution

    Neither is any good without the other.

    Your post is really all about focus. To me, the best way to stay focused is to have a deep, compelling and passionate vision of what you are trying to accomplish.

    To say no to noise, you simply need a much bigger yes.

  10. March 20th, 2008 at 8:20 am
    ME Liz Strauss said

    Howard!
    Your focused comment is right on!
    It’s so easy to say “no,” so hard to stand and say “yes!” But the “yes” is where the success lies.

  11. April 25th, 2008 at 2:32 pm
    » Achieve by Planning said

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