038. 2 Ways to Know if You're Making a Wise Investment to Grow Your Business

Do you ever wonder how to make the best investments to help your business grow and scale? In this episode, Teri and Jen discuss the importance of understanding both tangible and intangible returns on investments. They’ll provide advice on how to make an informed decision when considering what investments to make in order to get the best return on investment. Listen as they discuss removing fear from decision-making by having a process in place, what needs to be considered before investing, nurturing leads from advertising, and seeking advice from professionals. Tune in to gain insight into making smart investments for your business growth!

[00:02 - 07:35] Balancing Tangible and Intangible Results

• Investing in our businesses is a crucial aspect of success

• We can invest in tools to automate, hire employees/consultants/coaches, attend events/conferences, and coaching

• When making investments, consider tangible results (increased sales, improved customer satisfaction, reduced costs) and intangible results (time investment)

[07:34 – 23:40] Measuring Tangible and Intangible Results for a Good Return on Investment

• Set clear goals and know your numbers before making an investment

• Ask “Is now the right time?” and “Do I have the capacity to get the best return on my investment?”

• Be aware of marketing tactics that are used to influence decisions - Look for the good in investments, even if it takes time to see results 

[23:41 – 28:48] Making Wise Choices with Confidence and Clarity

• Take the fear and "what ifs" out of making decisions

• Have a process to help guide decision making 

• Set goals to know where you're going 

Quote:

“It's super important that we pay attention to all of the ways that we're investing. Everything has tangible and intangible results.” - Teri Johnson 

If you’re looking to invite accountability and want to explore this option with us, we would love to connect with you! Book a power call at www.KeepingItPersonal.com/PowerCall to explore your next steps!