But that only comes from good planning. And investing needs to be part of that. Investing in yourself (your skills, your mindset), your business (marketing, staff training, systems) and your financial future (property, shares, super).
The sad thing is, many SME businesses have all their cash flow chewed up by business costs and living expenses. Don’t let it happen to you. Create a plan (back of a napkin will do) and set some systems in place to achieve them.
Here is a simple example:
- Turn over target per month: $….
- Marketing expenses per month: $….
- Wages & drawings per month/: $ …
- Nett cash after expenses: $…
- Planned investments: <In myself – goal 1>, <In the business – goal 2>, <In my future – Goal 3>