Looking at the cost of services, courses, software, all with the hope you will get a great, or even decent return on your investment.
The ROI is important for business because it is a way to mark how much improvement is made in any category after spending time or money in something.
But what if you don’t invest time or money in ideas or services that could better your business?
The risk for an investment goes both ways. The first risk is investing, and the investment fails.
You could lose time and money on that interaction.
The second risk is not taking the chance. Not acting on the opportunity can keep you in the same spot you have been.
Is that worth it to you?
Some would call this the “cost of inaction” or COI, not taking the step that could put you in the right direction. Whether it will free up your time or add more money into your pockets, it is a choice you make that could reap rewards.
If you could look 1 year into the future and see that nothing in your business has changed, would you be happy or disappointed?
With the resources you have now could you greatly impact the business you are working in with a positive reinforcement?
Sometimes the cost of inaction is more disappointing than a bad return on your investment.
You might not have lost something when you didn’t take action, but the experience, learning opportunities, and maybe even a more adaptable business could be a better return than nothing at all.
Many potential clients I have talked to always go along with the same mindset that takes them away from taking the right step forward.
The lack of a growth mindset halts their business altogether and restricts them from taking any steps at all, unless they are backward.
No matter how good the investment sounds, they can’t get their mind out of the negative emotions that go into decision making. The cost of inaction leaves all of these businesses to sit and soak in all of their problems.
This isn’t me trying to tell you every investment you come across is the “next best thing” and to throw all of your money into it, but to show that sometimes not taking action is more damaging.
The knowledge and experience can take you in the right direction, if you allow it to flourish.If you want more business and leadership content for encouragement, education, and empowerment, join the With Purpose Newsletter. Looking out for those emails will keep you up to date with With Purpose and the content we produce.