What assets are worth investing in?
There is no doubt that whether you are building a business, or working your way up the corporate ladder, when you are starting out, cash can be tight.
You should absolutely be assessing where you should spend your hard earned cash, what asset is worthy of investment, and what the most effective way is to maximise results.
What you shouldn’t be doing, is battening down the hatches and not spending anything at all.
I have previously written about the importance of shrewd cash control, especially for business owners who are just starting out and don’t yet have any paying customers. But while it’s true that prematurely spending money on the 'nice to haves' is not a good idea, there is one asset that you must absolutely invest in from the start, and that is yourself.
Similarly, for those of you early or mid way through your career, when you aren’t yet earning the big bucks, you may baulk at the thought of ‘spending money on yourself’. How can you possible justify the cost of things like professional education, or image development or mentoring? Here's why.
If you don’t think you are worth investing in, if you don’t invest to maximise your potential, then that big break may never come.
This is the insight.
There is a big difference between spending money upfront on superficial things, and investing money in the things that will contribute to your long term success.
Think about it – you are your greatest asset. You are the asset that people want to buy (or not). If you are an entrepreneur that is building a business, it is more than likely that you are the brand of that business – your clients are buying you. If you are an up and coming leader with an eye on senior roles and increasing levels of accountability – your employer, peers and staff will be buying you.
A characteristic of most successful people, self-employed or otherwise, is that they will invest heavily in their own development. They are always curious, on a learning journey, and looking to improve. They will have experts around them that they trust, respect and admire, and will never see this as anything but a great investment of their time, money and energy.
They know what it takes to maximise their biggest asset – themselves.
If you only invest in one thing, make it a coach or mentor. Mastering the art of successful business is – for most people – not intuitive. Investing in an expert to identify and recommend strategies, pinpoint where you need help, and recognise potential points of failure - will help you learn, grow and make good decisions for the short and long term. Put simply – the right professional in your corner can set you up for success.
Another common theme that I write about often, is the importance of surrounding yourself with people who will amplify your success.
Investing in a team that is there to support and help you grow, means that you back yourself, and that you think you are worth investing in. This not only sends a powerful message to others about your self-worth, it sends a powerful message to your subconscious too. Through the simple act of treating yourself as an asset worth investing in, you are telling yourself that you believe you have a future – a successful one. Which is absolutely the way you should be thinking.
Waiting to invest in yourself until you’ve ‘made it big’ is flawed thinking. Why? Because it never happens.
If you don't invest in yourself: your unique skills, your brand, your health and the expertise and experience of others — you will never make it big.
Investing in yourself is hard. Why? Because by doing so, you are definitively backing yourself and your vision. You are – quite simply – putting money where your mouth is. This is hard, and it is uncomfortable, but it is absolutely necessary – after all, if you don’t back yourself, who will? If you don’t see yourself as an asset worth investing in, then you are basically telling your subconscious that you aren’t worth the time or money.
In short – you need to back yourself. Believe that you are worth investing in, and that no money you spend on increasing your self confidence, presence, skills and experience will ever be wasted. Invest to maximise your biggest asset - that's you.
If you have big ambitions, then never forget that the first step to realising that vision is being able to maximise your most powerful asset (that’s you).
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