How to Increase the ROI on your Web Design Business Investments
Are you thinking of making a business investment? You need to take the time and think about it critically. I have seen people get into debts for investments that didn’t pay off. For the last ten years, I have invested over $100,000. Some investments had a high ROI, while others had a negative ROI.
Over the years, I have developed guidelines on how to increase the ROI on your web design investment. Before we get to the guidelines, it is essential always to ask yourself if you have the time to make that investment. Most of the time, we tend to consider money first, which shouldn’t be the case. Time comes first.
Let’s now look at the four guidelines on how to increase the ROI on your investments.
- [07:50] Does it align with your values?
Values are overarching, and they guide a lot of our decision making and a lot of our actions, whether we realize it or not. When you’re making a decision that’s not aligned with your values, you’re going to be fighting yourself the entire way. This will cause a lot of resistance, which may result in a negative ROI because things will take a lot longer to implement.
- [09:50] Does it align with your business?
Career and business goals can be different. Your investments need to align to either your business or career. I once bought a messenger bot course, and within six weeks, I ended up selling two or three bots to clients and more than made up for the initial investment. I invested in the course because it was in line with my career goals, and it paid off.
- [11:38] How long until the investment pays off?
We have to think about the timeline. I find that if we invest in something that aligns with our careers, like our skills and our ability to serve our clients, then that usually has a faster ROI, a shorter ROI, and period, than something that aligns with our business goals.
- [13:47] Do you have the right energy?
Before you decide, it is essential to ask yourself if you have the necessary physical, mental and financial energy required. There are times when you feel sluggish and stressed, and you feel like you do not have the strength to add anything else to your plate. You do not have to invest at that moment. Before investing, always make sure that you have the necessary energy physically, mentally, and financially.
If you want to dig deeper into any of these concepts, I’d love for you to join me in the Well-Paid Creative group.