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118: Business Costs Vs Investment

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Influence By Design
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Running a business requires tools and resources, and when it comes to acquiring those resources, you need to be savvy. In this episode, Tim and I discuss the difference between costs and investments.  Many people think everything you buy is a cost, but today we want to dispel that myth and share an alternative viewpoint. We also share why it’s important to not be afraid to use your resources to reach your goals. We give some examples of when you should invest and when you should consider holding back. WHAT YOU’LL DISCOVER: Understanding the difference between a cost and an investment (1:15) The two currencies available for you to spend in your business (2:37) How to know when to invest (4:30) A small success is still success, so what do you have to do to achieve it? (7:35) Cost is not always equal to value (10:44) Determine your ROI (12:43) Examples of a typical business expense (17:04) Haven’t left a review yet?  We’d love your help to get to 100 reviews.  All you have to do is go to http://samanthariley.global/itunes Thanks so much for your support of the show! Do you have a guest suggestion for the Thought Leaders Business Lab podcast, a suggestion for a topic, or maybe a question you’d like answered on the show?  Click here and let us know: https://samanthariley.global/submit-suggestion/   For full show notes and links visit:  https://samanthariley.global/podcast/118