Basic Investments That Every Entrepreneur Must Make
Starting a business usually involves many investment decisions. Like a great ocean liner, from the time of opening and through all stages of growth, constantly needs to review and stay the course. And for that, we share at least 7 key investments that every entrepreneur should do to take your business to success.
Invest in training for yourself. One of the most important characteristics of a good entrepreneur is to know the business and for that you must train you. There are many important issues that you manage to develop your business such as administration, finance and accounting, electronic commerce, sales and others. Make sure you always reinvest a percentage of your profits in better prepared, and of course this also applies to staff in all areas. Have you considered the possibility to improve your English? or how about something about How international trade?
Investing in a website. It is said that today’s businesses that are not on the internet is as nonexistent, and although I personally think a somewhat extreme statement, if you believe that the presence of a business on the web is important. The good news is that riding a page with basic information about your company or business does not require a lot of money because there are many free resources for it.
However if you need to pay a few hours to a technician who is familiar with the subject and help you to do the job. However it is long-term investments that will pay off attract customers not previously imagined.
Invest in quality staff. Depending on the size of your business partners will need eventually and will then be time to invest in human resources. It also says that large employers are always surrounded by people “smarter” than them. If you need a secretary, an engineer, a salesman or an assistant, make sure you invest in very intelligent people who do not grow your business and otherwise.
Invest in developing corporate vision. If your company has 100 employees, 15 employees and only 2 (you and your wife), also need a long-term. Why? because “he does not know where you want to reach, any road will take you.” The vision and mission of a company must be printed in the heart of its directors and employees. Occasionally hires a good motivator to help your organization maintain clear destiny, goals and business objectives. Motivation is the fuel that makes humans continues forward.
Investing in recognition. One of the major motivations of human beings is that our work is recognized. An employee who receives a token of appreciation for his work, probably work harder. Make a recognition culture in your organization by investing regularly (say every 2 or 3 months) in a program of recognition for the effort, values, and excellent results.
This is especially important for the sales force, production staff and in general for every employee that has to do with the scope of objectives.
Investing in growth. A safe and healthy company is one that meets two criteria: their debts are minimal and in control and that their profits are maintained and reflect a percentage of monthly growth. But this requires also invest in both. Be sure to use a percentage of monthly earnings to pay off debts as soon as possible and second, another percentage to reinvest in growth and development, whether machinery, equipment, infrastructure, etc..
It is said that the success of Japanese companies is their enormous capacity to reinvest the profits of the business to the point that barely receive a minimum wage for years until companies become corporate giants.
Investing in social assistance. One of the noblest purposes of free enterprise is to contribute to a better society. This through to jobs, providing products, provides solutions and lends a hand to provide the basic needs of their community. There is a secret key or difficult to explain the fact of helping others, but I can sum the resulting effect in one word: prosperity. To the extent that we schedule our endeavors to contribute to a better society, our businesses also improved.
As you can see the 7 investment tips are not directly related products, machinery or furniture, but most certainly represents a solid foundation for big business.