Four (4) simple investments to build a successful business
So you’ve decided to open your own business.
And why not?
You’re super talented; you know what you offer and who needs it the most. You have positioned yourself to take over the world one sale at a time. You know you need some sort of capital investment to start, but did you know that there are four types of investment capitals required in order to be a successful entrepreneur?
First is physical investment, which really is the most obvious. Investment in the form of money, technology, products and services before you begin is crucial. In order to effectively produce whatever you sell, you must decide if you need to rent or purchase an office space, inventory to create your masterpieces or even staff to assist. This is the one most entrepreneurs are familiar with because it’s something that you must think about before you even open your doors (virtually or otherwise).
Secondly is emotional investment, and this one most entrepreneurs don’t really get until they actually start running the business. Things will happen that will cause to you question every single decision you’ve made or you might be bombarded with negativity from friends or family who just won’t get what it is you’re doing. You have to be emotionally equipped to handle it all. It’s up to you to stay motivated and dedicated and go back to why you started your business in the first place. Do whatever it takes to stay the course and remain positive, and keep your mind centered.
One thing that can really help you stay focused leads me to the third type of investment which is relationship investment. Lean on like minded persons who can help you on your journey. Go to them for support because only they can understand what you’re truly dealing with on a daily basis and solicit help from persons who have been through what you’re going through now. Relationship investment can also extend to the connections you form with your customers. Bonding with your clients though your willingness to serve can ensure that you create and maintain loyal customers for your business.
Lastly is intellectual investment which basically means you have to invest in yourself. Keep learning, growing and evolving by developing your unique skills and talents. Stay abreast of current trends in your industry and continue to look for ways to sharpen your skills and improve your knowledge. Give yourself the competitive advantage by ensuring you remain an expert in your field.
If you agree with the above, let me know in the comments below and be sure to share woth your other business besties on your social media platforms.
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