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How Much are You Prepared to Invest in Your Business?

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In the early days of running a business, we’re all in the same position. There isn’t much money coming in and cash flow is unpredictable. We spend a great deal of time doing the work that our clients  need us to do, because we can’t yet afford to pay someone else to do it – and still earn something for ourselves. Whatever it is that we do in our businesses, we also have to keep track of the finances, keep on top of the admin and keep doing the marketing, to make sure that new work keeps coming in.

At what stage do you start to invest in your business and bring in outside help?

If you look at successful businesses – regardless of their size – one thing you’ll notice is how they stick to what they’re good at and use experts to help them with everything else. It might be that they recruit a bookkeeper to manage the daily and monthly finances; or they may outsource their marketing to a business that specialises in it. Often one of the first things to go is the admin – doing the paperwork is something that most business owners do not want to spend time on! After all, it’s not what they’re being paid to do.

Once you’ve sorted out the finance, the marketing and the admin, your business is probably at the stage where you need to start thinking further into the future than just next week or next month. Where are you going next year? Do you know what 2015 and beyond looks like for your business? When you spend most of your time within your business, it can become difficult to see the best way forward, or the way around the next obstacle. This is when you need to bring in outside help. Find a business coach or consultant; spend time with other people who can look into your business with a fresh perspective.

Again, looking at successful businesses will show you that they are prepared to invest in getting the right help. Of course you can find all sorts of useful, free things on the internet, but those articles are not specific to your business. If you want to make a real success of your business, you need to get serious about how much you’re prepared to invest in its future and its success.

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Is it time to have a real conversation?

How often do you listen to your gut instinct (also known as your ‘Inner Voice’) when you need to make an important decision, only to have someone else say “I told you so!” when you realise you made the wrong decision?

How many times have you paid a professional for their advice, but gone on to ignore what they suggest and taken your own path?

Sometimes we don’t like to hear the advice that other people can give us. We tend to think we know best (well, we’ve been running our businesses for some time now, so we must be doing something right, mustn’t we?!). It’s natural to do this, humans are ‘wired’ with a cognitive bias that leads us to tend to put more weight on our own ideas than we put on the ideas of others.  Having said that just because we know that we can be biased, doesn’t mean that your choice in an individual situation is biased.

Sometimes it hurts to hear what we don’t want to hear (often known as to us as the ‘truth’.) But can we really grow our businesses and move them forward, without having those ‘real’ conversations from time to time?

What is a ‘Real’ Conversation?

Having a ‘real’ conversation with someone else requires a certain level of bravery and vulnerability on your part. This is because a real conversation is when you’re likely to be asked questions you don’t really want to think about – the ones that might leave you feeling a bit uncomfortable.

“Why do you do that the way you do it?”

“Do you know what you really want from your business?”

“What is your business actually about?”

“Why haven’t you done all the things you said you were going to do?”

These are just some of the probing questions that you’ll be asked during a ‘real’ conversation. They’re not there to trip you up; they are the sort of questions that will really get you thinking. The answers are the ones that will start to open up new opportunities for you and your business.

“What do I really want from my business and what’s stopping me from getting there? What am I allowing to get in the way?”

It could be about getting real clarity around what you want; it could be about facing up to some uncomfortable truths about why your business isn’t working as well as you’d like it to.

A ‘real’ conversation happens when you can sit down and really talk to someone else about your business. The more impartial they are the better. An outsider looking in is more likely to spot things that make them think “Why do they do that?” and because they’re not as close to your business as you are, it’s safe for them to ask the question!

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I Can’t Afford to Invest in My Business

How often have you looked at a course that you’d really like to attend, only to get half way through the online booking process, before you decide that you really can’t justify the cost? Do you even get as far as that, or do you look at the great course and just decide that you can’t afford it from the outset?

Is it really the money that’s putting you off, or it is something else?

Probably the biggest objection that salesmen are taught to overcome is one of cost:
“I can’t afford that right now.”
“We’ve already allocated our budget.”
“That’s just not a priority right now.”

All these excuses are actually lies! They are nothing to do with the money, but most people will use the excuse of money, or a lack of it, not to do something, like invest in their business.

A wise person once said that poor people try to do everything themselves, while rich people pay others to do things for them. You’re probably thinking that this is the wrong way around; but it’s not.

Rich people get rich by investing in the support they need. Poor people get poor by trying to do it all themselves. Their the end result is that they spend all their time battling on alone, or trying to learn technical skills that they don’t really need, all of which takes their precious time away from doing what they’re actually good at – the stuff that they actually get paid to do!
Rich people invest their money in the skills and expertise of people who already know how to do those technical skills and can do them much more quickly and accurately.

Can you afford not to invest in your business?

Can you afford not to attend this year’s Future Retreat and learn from other like-minded rich people? Go to <a href=”http://FutureRetreat.com”>www.FutureRetreat.com</a> to find out more about the investment. If you think you can’t afford to attend, what are you really saying?

If you think you can’t afford to attend, you probably can’t afford not to!
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