Are You Investing in Your Most Lucrative Asset?

Comments Off by in Articles
April 19, 2013
Are You Investing in Your Most Lucrative Asset?

As a business owner you are in the driver’s seat when it comes to your long-term wealth. You don’t have to worry about raises keeping up with inflation. You have diverse options for your retirement so you’re not as concerned about your 401k taking a nose dive. But unfortunately I see too many business owners so focused on the here and now that they don’t take time to invest in their future.

What kind of investment am I talking about? Well, what’s the biggest, most lucrative asset in your business? It’s you! As the business owner it’s your vision, your passion, your expertise that’s the driving force behind your business success. You need a healthy balance in your life so that you become a sustainable asset – not just a shooting star about to burn out and crash.

According to Brian Tracy, “Invest three percent of your income in yourself (self-development) in order to guarantee your future.” Is that a new thought for you? How can you invest wisely?

First, take some time to analyze areas in your life that you’d like to strengthen. Here are some questions to consider:

  • How are my marketing skills? Do I have a working plan to keep a full pipeline of clients?
  • What’s the state of my business brand? Do I have a polished image, or is starting to look outdated?
  • How are my management skills? Do I know how to recruit and train star players to my team?
  • How are my organizational skills? Do I have systems in place so I can take time off or am I always scrambling to meet deadlines?
  • What state are my finances in? Do I have a savings plan and retirement strategy or am I just hoping I’ll have enough to retire someday?
  • How about my health? Is my physical, emotional and spiritual health aligned so that I can bring energy and passion to my work every day?

Take an honest look at these areas of your life. You probably notice at least a few areas that could use some attention. This is where you want to make a wise investment.

Look at your options. Can you get results through self-study – by reading books or taking an online course? Do you need more support and accountability? To get faster and better results you should consider hiring a coach or working with a mentor. When you invest in accelerated development through mentoring, coaching, workshop participation, and other value-adding resources you’ll find they more than pay for themselves over the long run.

You might be thinking that you just can’t afford to spend any money on yourself. But when it’s time to grow, you have to be prepared to take out your wallet and invest in your future. I’ve invested a lot in personal development – at times far beyond 3 percent – and from experience I always see a huge return!

You can’t use a lack of funds as the excuse for not investing in your future. Calculate how much the increase in earnings is worth. For example, if sharpening your marketing skills doubles your clients then that obviously is an incredibly sound investment! If you’ve done your homework, and you see that a particular investment will give you the tools you need to grow, you can usually find the resources to invest in it.

Every successful leader has invested heavily and wisely in personal growth and development to reach the pinnacle of success. When you commit to a high stakes game, however, there will be some personal sacrifices involved. To achieve extraordinary success – without worrying about whether or not you’ll be able to afford retirement – you need to be committed. If you S-T-R-E-T-C-H yourself beyond your comfort zone and broaden your expertise you’ll be amazed by the ROI you get.

Predictable Results™ Assignment:

Review the questions in this article and pick one that you think needs the most attention. Research your options and then commit to investing in a solution by the end of the month.

As a pioneering and visionary innovator, Sarah is a certified professional image consultant and brand strategist, speaker, trainer and author. Her company, Illustra Business Coaching, provides leading-edge business building strategies for small business owners & entrepreneurs who wish to take their company to the next level.

Illustra Business Coaching
Copyright © 2013, Sarah Hathorn, AICI CIP, CPBS
This article may be reproduced only in it’s entirety, including the above bio.

You may also like:

Comment on Facebook