Mindset plays a big role in the success of your business.
Entrepreneurs know there is always a cost of doing business. For sake of perspective, we can put these costs into just two categories: bills and investments.
When we think of “the cost of doing business,” such as a bill, we want it on the cheep. We want our overhead to be less so our profit is more, because that’s smart, right?
To the average number cruncher, that makes sense. But to the entrepreneur, who is the heartbeat of the business, there is gray where others see black or white.
Do you see the gray?
It’s important you do because every penny spent outside of rent should be considered as an investment… a consideration of cost to benefit. It’s smart to look for a deal, but what about when it comes to something that pays off over time… like a logo or a website.
Unfortunately, some people don’t see the long-term benefits of well thought out and professional work by experienced experts.
They know they need these things, but they don’t realize that the caliber of work represented in a logo, website, or other visual marketing piece, will make or break the legitimacy of the business and it’s probability for long-term success.
This can be true for any aspect of your business that has the potential to set you apart from your competitors… like certain equipment or things that are imperative to your customer’s experience.
Notice I said “imperative.” Don’t go “over-investing,” because that’s just over-spending.
Perhaps the bigger questions is, how important is it that your customers come back or want to refer your business? What is that worth in dollars?
Have anything to add to this post? Tell us in the comments.
