Weekly Business Idea

August 10, 2017 – What is Your Best Return on Investment?

Posted on | August 9, 2017 | No Comments

Main Idea:

Where do you make investments?  What do you look for when you make investments?  What do you expect to earn on the investments?  What is your best investment?  Do you avoid some investments because the return on investment is hard to evaluate?  Do you focus on short term results or long-term investments

Expansion of the Idea:

Thursday and Friday of this week are my two favorite days of the year.  For those of you who know me well, you know that I am referring to the Global Leadership Summit which is simulcast throughout the US to over 450 sites.  I have gone to the Summit for the last 15 years and I hope I will continue to go for the next 15.  These two days are nonnegotiable days in my schedule.  I will be at the Summit unless I physically could not go.  The Summit has benefited me personally and professionally.  It has energized me.  It has helped me spiritually.  I could not tell you the exact dollar benefit of the Summit, but I could start listing a number of specific items that I use with team members, clients, family, and personally.  I am a better person, husband, father, business owner, consultant, etc.  Because I believe in it so much I have volunteered to help promote it.  I am totally invested in it. It may be my most important investment.

When most people think of investments, they think of the stock market, real estate, major equipment or similar types of assets.  However, some of the most valuable investments are not physical assets.  They are things like:

  • Yourself
  • Your people
  • Your customers
  • Computer and other systems
  • Research and development
  • Education
  • Ideas
  • Time
  • Relationships

There are a number of other intangible assets.  The problem is that we don’t focus on the intangibles like we may focus on how the stock market is doing.  The stock market is easy to evaluate.  We made money or we didn’t.  We can compare it to how the Dow Jones Index is doing.

With intangible assets, it is harder to evaluate.  We tend to discount intangible assets because we cannot see the direct relationship between the investment in education and new sales.  Or we can’t see how improved teamwork helps your gross margin.  When you invest in something like the Global Leadership Summit, you don’t know exactly how that will benefit your business or organization.  As a result, some people don’t make the investment.  And that is to their loss.  These intangible investments are actually what differentiate us from our competitors.  If you are focused on learning new things and your competitor is focused on America’s Got Talent, who do you think will be in a better place to serve your customers?

Places to Start:

  1. Are you making investments in the intangibles?
  2. Do you know how much you are investing in people?
  3. What are you spending in education?
  4. Are there items in the list above that need investment?
  5. Discuss this with your team.
  6. See you at the Summit.

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  • About

    These weekly ideas are brought to you by FitzGerald & FitzGerald P.C. For more information about how to use these ideas with your small business contact Tim FitzGerald at trfitz@fitz-net.com.