What Should You Be Investing in Your Business

Have you been wondering what you should be investing in your business? The answer depends on what stage of your business you are in, your strengths and weaknesses, and what you actually want to be doing with your time. Host May Yeo Silvers explains that when you are first starting out, the most important thing to understand is the day to day operations of building and running your business. This means things like bookkeeping, marketing, sales generating activities, and even attending in person networking events and trade shows.    Investing in a business coach is a great way to get started because they can help you decide where to invest your money. Whether you decide to do it alone or get a coach, the majority of your time building your business will be spent on sales generating activities. It is always a good idea to invest in anything that will help to generate leads, such as a photographer for an event portfolio, CRM software for generating sales outreach  emails, and a website designer to build a robust website if you do not feel comfortable building one yourself. Once you have leads, you will have to also know how to close them and much of closing leads comes down to mindset. The right coach can help you to develop the business mindset you need to be successful.   In order to build a successful business, you need to be very clear on what is required to keep the business running on the day to day. Think about your skills and what you enjoy doing so that you can figure out where you need to invest your time and money.    Quotes • “When you're starting your business, you need to understand what goes into the day to day activities.” (3:57-4:03 | May) • “Building your pipeline, building your leads, building your visibility is your day to day operation.” (5:27-5:33 | May) • “Buying insurance for your business, that's not an investment. That is what we call the cost of doing business.” (8:11-8:18 | May) • “Unless you hire a very, very good copywriter who's able to imitate your voice, I strongly suggest you write the content yourself.” (9:37-9:45 | May) • “When you are able to get leads, that's 50% of the equation. What's the other 50%? You’ve got to know how to close the leads.” (13:04-13:13 | May) • “Invest in a coach that is able to help you build the mindset that you need to build a business.” (15:24-15:31 | May) • “When you are at a certain level, your next step is no longer just building the pipeline, because you're still continuously building a pipeline. Now you can actually switch out your focus to building brand visibility, because once you build brand visibility, it will automatically build your pipeline.” (24:00-24:17 | May)   Links Connect with me at: [email protected] Website: events4anyone.com LinkedIn: www.linkedin.com/in/mayyeosilvers Facebook: www.facebook.com/mayyeosilvers IG: www.instagram.com/mayyeosilvers TikTok: https://www.tiktok.com/@mayyeosilvers  FB private group: https://www.facebook.com/groups/events4anyone   Podcast production and show notes provided by HiveCast.fm