This is the question I like to ask myself, and I'll tell you why...
I don't like to spend money.
Or rather: I really dislike useless expenses in my business.
It doesn't matter how much money you make (or not), a business needs to run in profit - period.
This is exactly how I've kept my business afloat, and growing consistently for 21 full years now. I look at every single option or idea as one of two things: it's either an investment or an expense. That goes for both time AND money.
Having a STRONG qualifier like that makes every decision easy.
Sometimes I have to consider both. Such as: I'm willing to invest the money, but will I invest the time? Kind of like buying a big piece of home gym equipment... and never doing a workout. That makes ZERO sense.
Yet we've all done something like that at least once, right?
That's why I now put a deadline on my commitment to any investment...
Let's say I decide to invest in a course on Pinterest marketing or Facebook advertising. If you buy it and don't use it, it's just a useless expense. If you buy it and put it to use, it will be a useful investment in the growth of your business.
What I like to do is challenge myself to make my money back in x number of days. And that's usually a short period, like 72 hours - or "before the end of the month."
It motivates me and gives me a strong incentive to use the product, implement it immediately, and see a FAST return.
It's a fun little way to gamify my work.
And it WORKS!
Something to think about today, and going forward in your business. 😉 *cheers*
Best,
p.s. This tip came to mind as I was looking over Alice Seba's Product Launch: JV & Affiliate Recruitment Package.
It's only $29.95 for personal rights which is a ridiculously good deal whether you want to use it to learn how to ROCK a product launch or recruit awesome affiliates so you can boost your sales - or use it AS your product, which you can purchase full rights to do too.
Anyway, if you picked it up (smart!)... I challenge you to see just how FAST you can make that $30 back... using the product itself. 🙂
About Lynn Terry
Leave a Reply