Look after the pennies ….
You’ve heard it said ‘Look after the pennies and the pounds will look after themselves’ and it’s true that small amounts can compound into big amounts if you are consistent.
In Best Nest, we hold dear a phrase that has served us well – ‘Low-cost, no-cost ’ which we use as a yardstick to test and assess new ideas, tools and concepts. The other useful question is to ask ‘Is this action/ tool scalable?’. We want to build a big business that is profitable and operates with as little as possible of our time and energy! But as we all know, profit can easily be eroded by spending too much money on fripperies, doodahs or tat. (Technical terms which Andy applies to any spending that is not in the budget). Watch out Wendy.
As well as investing for your future, you need to think about measuring your return on investment, time and energy. If you are better served by outsourcing an activity, and leveraging that person’s time to do something you are better at, do it! As long as they can help generate income or reduce costs long term, they’re worth having.
Although you will have to invest in staff (or contractor) costs, as long as you don’t utilise that time for catching up on Loose Women, you’ll soon realise the power and efficiency of other people’s time and skills. There are some great websites out there to help you too –
So make sure you measure what you treasure – that is your time, income, profit and energy – and learn how you can employ them wisely in your business to grow and fulfil your lifestyle and income plans!
To your growth!
Wendy
