There are many opinions about managing money that help businesses achieve their financial goals. But what is consistent among most, if not all, business owners is the idea that saving money is achieved by avoiding spending.
In theory, not spending money to make money holds some truth and practicality.
But unlike my patience, money is an infinite resource. There is plenty of it and plenty of it to be made.
The idea of money is a man-made concept turned idea that, as the saying goes, makes the world go round. We as humans forget that trading and business are the underlying concepts that keep the wheels of the globe in motion. As a result of this, we forget as business women and men that human capital is much more valuable to the success of a business than a hefty bank balance.
Let me put it straight—money can lose value, capitalising on human skill does not.
Value-adding > money-making
In business, there is absolutely no reason to view money as a scarce resource. It’s not going to run out.
What is important is that the focus on adding zeros to the bank account is not prioritised. What’s more, is that you consider and invest in ways to add value to your business such as investing in the intangible asset of human capital to increase your digital presence, establish your brand persona, and introduce the entire world to your value proposition.
Make effectiveness your M.O.
Time is not money. Time is time. When you begin to shift your mindset from understanding money as a commodity, not a necessity, you can add value to your business.
Whether it is inherited, earned, made by luck, or illegitimately (oops), once money is spent, it can never be recovered or made up again—unless it is invested in something which adds value to your business.
Let us examine a simple, universal concept of marketing. Today, the juxtaposition of different industries and brands is ever-so present on social media. However, an integral force behind business behaviour on social media can be attributed to one particular goal—effective communication.
As a (self-proclaimed) content expert, there should be no room for the phrase “I will do it myself” if the task has absolutely nothing to do with your skill and ability as a business owner or manager.
My advice—cheat on what you know. This is what I like to call the Human Capital Affair. This means getting into (professional) relationships with others that can add value to your business, such as other professionals in industries that aren’t ‘your type.’ Step out of your comfort zone and flirt a little with the idea that your business needs to see others—engage with creatives, with marketing agencies, with content writers, with IT gurus, and BUILD YOUR BRAND!
The truth is, creatives know how to establish your brand’s digital presence, create a business avatar, bring that avatar to life and create a personality for your brand (your brand personality isn’t you—just saying). Believe me; we can do it better than you can. Read that again.
Investing in valuable content, copy, and marketing can positively gear your communication instruments. Separate the adverse effects of your brand’s conservatism and modernism, autocracy and anarchy, while exhibiting the multiple dimensions of your brand in a manner consistent with its overall corporate mission and objectives.
Let me guess; you can do that, too?
Engaging with a professional can help launch sales, attract new customers, retain current clientele and increase your overall business profile.
A finishing note: as a business owner or manager, you are doing an incredible job. But, you are not a superhero and sorry to break it to you, you can’t do it all.
Invest in what your business really needs to make money; value-adding.