How to Invest in Your Business with No Hard Cash!

Linda Business, Business coaching Leave a Comment

 

If you are to succeed, and I hope you as your read this you will be then you have to plan for it –  YES PLAN FOR SUCCESS. No it is not arrogant. No it is not ego driven nor is it foolish. It makes perfect sense. You must plan and expect success – otherwise why bother?

 

Building and growing your business is a simple step, because if we are not growing and moving forward we are, in fact stagnating and moving backwards. So why would you want to grow?

Reasons to grow your business

There are many reasons why growing your business may be the right decision. The reasons that apply to your business will dictate the path and pace that your growth takes. Therefore it’s extremely important to fully understand your motivations and to make sure you are crystal clear on your goals.

So why do you want to grow your business? You may be motivated to some of all of the following:

  1. To make more money – now money doesn’t make you happy, but as a very wise woman once told us “honey it’s up there with oxygen!” So no it doesn’t make you happy, but what is does do is give you choices – and who wouldn’t want that?
  2. To respond to market demand
  3. To respond to new markets, competition and innovation
  4. To increase your business stability
  5. People – This is a tough one –  a growing businesses tends to attract great people. Also, once your business has reached the point where you are delegating management and operational decisions to others, the business no longer has to depend on you. But you need to be fully aware that time in role does not always equal best fit for the role, so whilst you may feel totally loyal to the people that started with you – they may not be the “right” people going forward. No matter how attractive it is that delegating will allow you more time to dedicate for you!

 

As I said, investing in your business is not always about financial investment, it can be simple as investing your time, but make sure you’ve got all your bases covered.

If you do not have the skills needed to be successful you need to get them, borrow them, buy them in or outsource them, and clearly you need to invest in yourself and your business.

Investment is not always financial, I have managed huge scale successful change and business growth with little or no investment – but we did have time and we could plan.

  1. Usually people are your biggest asset – so invest in your people from the start – that includes you! There are so many brilliant free resources on the internet.
  2. People respond to reward – whether its verbal and/or non verbal. Find out what works for them. I always ask my clients what motivates their teams and usually they have no idea. So go find out! Sometimes a non cash reward such as finishing at lunchtime on a Friday, having an extra day off around a Bank Holiday, being able to start later to avoid the traffic, a car parking space for a week will do the trick!
  3. Everyone responds well to fairness and transparency. Create a performance management system. It sounds a bit over the top when you’re a team of one or tow, but start as you mean to go on. It will be worth it, and save you hours in the long term.
  4. People respond to passion. So engage heart and soul in the growth of your business  – that’s yours and your team. Communicate with passion and commitment.
  5. Communication – regular and consistent communication is critical to your and your businesses success.
  6. Develop your leadership skills regularly. This is easy there are so many resources – the hardest part is committing the time.
  7. Challenge your thinking – find yourself a mentor or spend time with a straight talking friend.
  8. Don’t be afraid to fail. As long as you fail forward. Take the learning, move and fail forward and your business will excel. I came across this it seemed timely.  Love this quote on failing: “Failure is the opportunity to begin again more intelligently” – Henry Ford

There’s a real difference between “being lean” and being tight is simply not investing enough. If you haven’t got the cash, then you do have the time, so decide how you want to use that time to develop and grow your business.

No one was going to invest in your business if you don’t invest in yourself and your business. Why should they?

I have always sought guidance from people who knew more and had more experience than I did. I was lucky to have a coach at work once many years ago and I was hooked – she helped me up my game, my thinking and my outputs. From that moment on I always paid for coaches. I never thought I was an island and I could do it all myself – why would I?

I had financial challenges and of course I didn’t think I could afford it – but I knew I couldn’t afford not to. No one was going to invest in me if I didn’t invest in myself. Have a think about that one…

So if you’re really struggling to find the motivation and planning expertise, do get in touch. I offer a FREE BUSINESS SUCCESS STRATEGY SESSION to get you started. You’ve got nothing to lose.

Hugs

The Master Fixer

www.themasterfixer.com

PS: For a daily boost of motivation, support, a challenge and for making a difference with you or your business, please join us at https://www.facebook.com/lindamasterfixer/?ref=bookmarks

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