Money Makers Myth #004 – I Need To Keep “Reinvesting” If I Want My Business To Grow
Reinvesting money in your business is not a bad thing…if it is done consciously, with a robust profit plan and cash management strategy.
The thing is when you reinvest, then by definition you are getting a return – that is what an investment is – something that generates a return.
Reinvesting money in your business when it’s just a smoke screen for spending all the money you are making is a bad thing.
It’s really important to work out which you are doing…are you telling yourself you “need” to reinvest because that is what “everyone else does” – is it TRULY what you SHOULD be doing…or should you be taking more money out your business for you and your family to enjoy?
You need to INVEST THOUGHT and work out if you really are “reinvesting” money – or just simply overspending…
Thanks ever so much for taking the time to read my post I truly hope you’ve found it useful and insightful. If you have any questions feel free to contact us!
I am Annette Ferguson, CEO of Annette & Co. Chartered Accountant, Profit First Professional and creator of the Business Wealth Engine. We’re also SUPER social so don’t forget to follow. Here’s to your success!