Reinvesting: “I will take home more money eventually”
Well there are two SUPER important things you MUST have in place:
1. A robust profit plan
2. A cash management strategy.
Reinvesting money in your business when it’s just a smoke screen for spending all the money you are making is a bad thing. 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… Are you truly “reinvesting” (remember, investments, get a positive return!) or are you really 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!