What’s Your Self-Investment Budget?

Posted: January 10, 2019

If you’re an entrepreneur or small business owner, you probably have a business plan which defines what you plan to invest into your business. This usually includes things like materials, equipment, staff costs and a marketing and advertising budget.

But what about investing in yourself? Do you have a budget for that? If not, you could be failing to invest in the most important tool for growth your business has – YOU!

You ARE Your Business

In the late 17th century, Louis XIV of France, also known as The Sun King, is reported to have declared “L’etat, cest moi” – which translates into English as “I am the State”. In part, Louis was simply saying that he was in charge of everything – no surprise in an absolute monarchy! But he was also saying something else – that the state depended on him for its wellbeing: when Louis thrives, the state thrives, when Louis has a problem, the state has a problem.

If you’re an entrepreneur, sole trader or director of a small business, it would be very true to say, “The Business is Me”. Without you driving things forward, literally nothing happens.

So the question we have for you today is:

“How much are you currently investing in your business’ number one asset – you?”

Growing Your Business is Easy if…

To grow your business all you need is two things:

  • Clear, definable goals
  • A strategy to make those goals happen (e.g. effective marketing to win more business)

This is good news – but it’s also bad news.

The bad news is that as owner/director, both of these things depend on your knowledge and mindset. If you don’t have that knowledge – or you have incomplete knowledge – your progress will be extremely limited.

The good news is, the knowledge you need can be acquired quite easily – it’s not rocket science. But it needs investment – of time and money, to learn what you need to learn, in an efficient way so you can start making a difference in your business quickly.

Can’t I Just Delegate or Outsource?

A key skill in management is the ability to hire people with the skills you don’t have, and make them responsible for delivering what’s needed, whether that’s products and services to your customers, or growing the business.

But if you are the only person in your business, who are you going to delegate to?

The ‘growth trap’ is a common problem for a lot of businesses: you can’t grow the business until you employ more people but you can’t employ more people until you grow the business and make money to pay them.

Outsourcing is a good idea for ‘housekeeping’ functions like accounting, IT or cleaning. But how do you outsource your vision for the company, setting strategic goals and winning new business? These are things that really cannot be delegated to someone else.

Adam Stott’s range of free events and premium courses will put you in good stead to avoid these dilemmas and approach these issues in a way to keep growing your business.

Because Your Business is Worth It

Investing in your number one resource is key. It’s essential to stop thinking about business training as an indulgence or an add-on extra ‘when you get time’ and to start thinking about it as an vital investment in your business.

Counting the Cost

When you’re starting out it’s understandable to try and avoid unnecessary business costs. But you need to weigh up the benefits that business training will bring against the cost to your business of NOT training.

One way to evaluate this is to ask yourself how much you would pay to see your business growing the way you want it to grow? The answer should give you a clue to how much your self-investment budget should be.

Big Business Events

Adam Stott offers a range of free events, premium courses, sales training courses, business coaching and audiobooks that include topics such as social media and sales domination. These courses and events will provide the hands-on, efficient training and coaching you need to enable you to grow your business.

Click here to explore our range of courses, events and membership options.

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