If you do not reinvest your profits in your business, you’re killing your business. Viktor Frankl understood the implications. Your profit should be deferred in your business to the growth of not spending it on food and other things. Obviously you have to eat!, But if you’ve started a part-time business, and you have another source of income, you have to reinvest the majority of your profits in your business. Reinvested to grow. When your business grows, then you can begin to benefit from this. “The concept is simple: Keep your spending under control, but does not reduce spending.
Here are three ways by which you can reinvest in your business so that it grows. 1. Reinvest at least 50% of every dollar you earn in advertising. You can think maybe you deserve to spend the profits as a result of the investment you made.’re right! But if you want your business to grow, you must reinvest in it. For example, perhaps you spend $ 100 per month advertising for your business. These will generate $ 200 in sales. “Instead of taking the benefit of $ 100 and spend it, because they reinvest the 200 and generate more sales for your business? You end up with $ 400 in new sales next month.
Reinvest your earnings so you can grow your business, but you must be patient in the meantime. 2. Reinvest in helping you get more members. If you are in an affiliate program such as Network Marketing where you receive a residual income and leverage your money, you can reinvest spending time helping your downline members to cultivate and improve their business. This will take more time than money, and as they improve, indeed a direct result of your downline. Call them or send them an email and ask them how they can help grow your business. 3. Reinvested to improve your communication materials. Instead of reinvesting in more advertising, you can reinvest to improve your website, your business card, your number of auto-responders, or your brochure. Perhaps a simple improvement on your Web site increase your conversion rate. Hire a copywriter to write your letters sales, or a graphic artist to design a logo. Here are three ways to reinvest in your business. The reinvestment will speed the growth and will ultimately make your business more profitable.