Investment or Sunk Cost? How To Properly Invest In Your Biz

She Means Profit

Oct 10, 2022•24 min•Ep. 117

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Episode description

“When you’re investing in yourself, be sure that you’re making the right investment that will get you the specific return that you’re looking for.”

— Melissa Houston

You know that I love to talk about profit, but you can’t fully understand your profit potential without understanding your expenses. The fact is that sometimes you need to spend money to make money.

The money that you spend to build your business is an investment in your future earnings, whether you’re spending it on advertising your offers, hiring a key team member, or working with a business or financial coach. Growing and scaling your business inevitably means increasing your expenses, but the real skill lies in using it for the right things while maximizing your earning potential!

In this episode, you’ll discover the ins and outs of cost-cutting effectively in your business, including recognizing when ROI promises may be manipulative, choosing the investments that are most likely to contribute to growth, and knowing which expenses your business cannot afford to reduce.

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

The value of cultivating an investment mindset and considering the ROI of your business-related expenses
In-depth examples of direct and indirect business investments and real-life small business case studies
An update on my upcoming book and information on how to get access to pre-order bonuses and exclusive promotions!

Highlights:‌ ‌

00:49 Intro

01:18 Happy Thanksgiving & book update

02:51 Spending to earn

05:36 Investing in yourself & your business

06:51 Case study: Diane

09:28 Growth, higher expenses & ROI

11:36 Podcasting example

12:43 Indirect investments

13:49 Case study: Skye

18:13 Understand HOW you create profit

21:53 Strategic cost-cutting