The Top 3 Things Successful Entrepreneurs Invest In
Taking the leap of faith to become your own boss requires a tremendous amount of courage. The last thing you want to do is fail. Fortunately, you are not the first trailblazer in the small business world, and those successful entrepreneurs who came before you are great about sharing advice and insight. Focus on these three areas of personal investment for yourself, which will in turn help grow your business.
Invest in Training
The internet offers a wealth of free and inexpensive training opportunities. You can study everything from how to code an app to how to develop deep flow in your work. Find free online classes through reputable colleges like Yale and MIT for business administration, IT or industry-specific concepts.
TED Talks are another fantastic resource for developing a more well-rounded base of knowledge on business and topics pertaining to your industry. And don’t forget books, as noted by Forbes list of must-read entrepreneurial books for those involved in tech, which includes almost every business owner at this point. Add podcasts to your list, which are also free and easily accessible on all mobile devices.
Invest in Technology
Technology in 2018 is far more than just having Wi-Fi and a smartphone. Concepts you need to understand include cloud computing, big data, cybersecurity, and mobile marketing. Entrepreneur points out several other tech skills you need to develop in order to be an efficient business owner in today’s global marketplace. Start by learning about these concepts during your invested training time. Then work on finding the right tools, software, and information technology freelancers and employees to help your business put these concepts to use.
Invest in Travel
If the last time you took a vacation somewhere outside of your region was when you were still living with your parents, it’s time to make a major change. Travel is not just an excuse to get away from it all. According to Forbes, travel is one of the most important things you can do to become a successful business leader. When you travel to another country, you break free of the safe cocoon of your daily life. These experiences will give you a new perspective on life and the confidence you need for success. By exposing yourself to new and different cultures, you can build essential human relation skills that all successful entrepreneurs need. Yes, travel can cost a lot of money, but consider this the biggest investment you can make in yourself as a small business owner. Plus, if you travel for business, such as to conferences or to meet with clients, your expenses may be tax-deductible.
Each of these investments in yourself will produce dividends for your business. If you are constantly learning and growing as a business owner, then your business gains through proactive changes and quality leadership. You don’t have to spend a lot of money on these investments, either. This is crucial if you are just starting out and need a foundation for professional development. As your business expands, you will have more resources, both financially and with time. At that point, you can take on more costly concepts, like travel, which will continue to aid in your growth. Investing in yourself for your business is a lifelong process.