I’ll be honest, in my first year of business I was stuck in a rut, feeling overworked and underappreciated. This resulted in well over $100,000 of debt from “investing” in online courses and coaching that didn’t do a damn thing to help my business grow.
As the CEO of my business, I wanted to make sure I was making the right financial choices that were going to pay dividends long after I spent the money. After a massive wake up call, I realized I had been investing in all the wrong things.
So what did I do? I got real with my situation and decided to focus my energy on investing in the right things, and you can too. Listen up!
The Top 5 Investments Every Executive Should Make
1. Invest in Systems
It’s easy to get excited about creating products and services for your online business, but without world class systems in place to help your business develop and grow, those products will be useless. Executives need to keep their eyes on the big picture, like, what kind of system will save me money and time in the long run? Infrastructure is everything and without it, you are building castles made of sand. Sure, you want to focus on sales first and foremost, but what if the flood gates open wide and you can’t handle the storm? Your reputation could suffer and that’s alot more costly than putting the right systems in place.
Systems allow you and your team to work towards a common goal and allows you to leverage your time to continue building the business. This includes systems for scheduling appointments, creating email autoresponders, utilizing task management software and payment tools, as well as client management tools and payment processors. A system that evolves with your growing business is an even better investment as the upgrades are built in for when your traffic and volume increase.
Think: www.infusionsoft.com for contact management and sales tracking, www.17hats.com for invoicing and customer data, www.paypal.com for payment processing and www.wordpress.com for website design and development.
Originally from New York, Stephanie was a creative entrepreneur with a sense of style from as early as age five. Stephanie’s mission, passion, and purpose is helping women step into their power, eliminate negative self talk, combat overwhelm, and design a life that they love.
Latest posts by Stephanie Nickolich
- The Top 5 Investments Every Executive Should Make - August 27, 2015