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Are You Spending or Investing in Business Growth?
Manage episode 516117490 series 3308683
How do you know when something is a cost you can cut or an investment you protect? This is one of the most common and misunderstood business dilemmas. If you struggle with decisions that involve pausing a subscription, delaying a hiring, or cutting out coaching because it feels expensive, then you could benefit from practical tools and perspective shifts that help you make smart, more confident spending decisions.
In this episode of She Thinks Big, you’ll learn a clear, five-question checklist that you can use to evaluate your business expenses. I’ll also share my process for assessing your top recurring expenses and experimenting with gray-area (i.e., maybe) decisions so you can lead with strategy, not fear.
2:37 – Why “Can I afford it?” is the wrong question to consider
5:33 – Question checklist (with examples) to determine if something is a cost or investment
9:51 – How investments often return more than the sticker shock suggests
11:32 – Four examples of how common expenses fall into cost or investment categories
13:18 – Putting the question checklist to the test right now
14:26 – A question to ask yourself if you’re on the fence about a spending decision
16:28 – Simple three-step test for spending decisions
19:09 – Three small actions you can do this week
Mentioned In Are You Spending or Investing in Business Growth?
She Thinks Big by Andrea Liebross
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Don’t Just Listen—Implement It
Untangle your time, reset your role, and build systems that don't depend on your every move. No more white-knuckling your way through success because you're not just scaling your business, you're scaling yourself.
Get the clarity and capacity to lead differently and ascend to your next level. Learn how and join us at andrealiebross.com/ascension
Untangle your time, reset your role, and build systems that don't depend on your every move. No more white-knuckling your way through success because you're not just scaling your business, you're scaling yourself.
Get the clarity and capacity to lead differently and ascend to your next level. Learn how and join us at andrealiebross.com/ascension.
Chapters
1. Are You Spending or Investing in Business Growth? (00:00:00)
2. Why “Can I afford it?” is the wrong question to consider (00:04:10)
3. Question checklist (with examples) to determine if something is a cost or investment (00:07:06)
4. How investments often return more than the sticker shock suggests (00:11:24)
5. Four examples of how common expenses fall into cost or investment categories (00:13:05)
6. Putting the question checklist to the test right now (00:14:51)
7. A question to ask yourself if you’re on the fence about a spending decision (00:15:59)
8. Simple three-step test for spending decisions (00:18:01)
9. Three small actions you can do this week (00:20:42)
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