A financial investment is easy to measure if we are purchasing something for our business, but what about your time? With every hour you work, every action you take, every person you hire, every meeting you attend you should be asking “what is my ROI”? “what does it need to be to make this a worthwhile business investment?” “what is an hour of my time worth?”
In looking at financial investments, other than time, for your business you must start with a budget. Once you have your budget set up, use a program such as QuickBooks that will allow you to run a P&L statement so every month you can see what you are spending and what your income is. This will allow you to project forward so you are making the wisest decisions about where you spend your money, and will keep you from spending dollars on “shiny” objects that will not support success and productivity. If this is an area you are not skilled in, hire a bookkeeper. It will be well worth your time and money.