“What return do I need to get from this investment, and in what time frame, in order for this to be a smart investment for my business?” This is the question you need to ask yourself when you come across any product or service that requires an investment of your time and money.
- Ask yourself this question when evaluating an investment of your time and/or money: 'What ROI do I need, and in what time frame, in order for this to be a smart investment?'
- A budget does not apply to revenue-producing investment opportunities; budgets are valuable for fixed expenses like staff, office, meals and entertainment, travel, website, events and so on.
- The no. 1 skill in business is knowing how to spend your money to grow your business and keep you profitable.