No matter how long you’ve been in business, it’s clear that you need to spend money to make money. But far too often I witness women entrepreneurs waste money on things that won’t carry their business forward or produce more revenue. And true confession, I wasted a lot of money in my first year of business.
It can be confusing to know where, how and when to invest and when to pass.
Here are 7 questions to ask yourself before you make your next business investment.
- Do I need this to reach my next income goal?
- How will this allow me to serve my clients better?
- How will this help me achieve my desired success?
- Will this help me generate more revenue?
- Is this a need or a desire?
- Is this truly the best place for me to invest my resources at this time?
- Am I committed to doing the work associated with generating the revenue to cover this expense?
Consider creating a filter question that turns these 7 questions into a quick and easy one to ask yourself before you make a purchase.
Keep your eye on the goal. Keep moving forward. Take consistent, intentional actions and you’ll hit your goals faster and with ease.
Post a comment to share with the community your new filter question or to gain support around an investment you’re considering.
xo
