How often should investments be made?

MusicMoguls Level X³

July 13, 2016, 7:05 pm

8

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How often should investments be made?

I know for a fact, many freelancers invest, so how do you guys go about taking the time in putting investments forth. When is the best time to put money down for your business? How does one decide on putting that cash upfront and expand one's work? See there is a lot of thought that goes into decisions like this and we all have bills and things at home that we need to take care of. so when is it best to decide on putting that money into your work?

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TommyCarey

I think you have it backwards. You should think of it as your businesses money and not your own. Think of it as when should you invest in yourself.

I pay my bills and buy food for me and my family, that's about it. Everything else goes into my business until I can get to a pinnacle where the profits seem to be maxed out. Once they seem to be maxed out, I start up another venture and do the same thing. This is obviously when you start up, not after you have 100 website all profiting $1,000 a day lol

How often should investments be made?

I wish I was making that much, but that's just an example.

You should always be boostrapping. If you're not, your business will crash and burn or you won't hit your pinnacle as soon as you should. Buy yourself something nice here and there, but don't waste your money on crap. Pay for what you need like your car, home, food, and an the random night out with your significant other. You don't need a bunch of fancy things at the start, those will come later after you have a few revenue streams up and running.

Whenever I pay myself from the profits of my websites I see it as a paycheck. I don't see it as I'm investing what's left in my account to push my business. If you can do this, you'll become successful

How often should investments be made?

Greed kills a lot of peoples businesses so don't fall into a trap and buy a car you don't need just because you can right now. Your money could dry up tomorrow and you'll have another 3 years of car payments that you're struggling to pay. I've been on both sides, the successful side and the struggling side because I paid myself too much and didn't bootstrap enough.

Take it from me, don't pay yourself more than you need. Bootstrap whatever you can and you'll see the profits increase month after month

How often should investments be made?

10 years ago

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EliteWriter

Greed kills a lot of peoples businesses so don't fall into a trap and buy a car you don't need just because you can right now. - fully agree with you Razzy. Unfortunately many business people and freelancers do this mistake. The key is to always be cautious I believe. You need to forecast expenses, think about savings, and when you feel you have most of your things covered you will be better able to remain levelheaded with your purchases. Investments need to be made with the aim to improve and expand. So it is best to set goals and work your way to them.

10 years ago

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MusicMoguls

goal orientated i like elite writer i like where your coming from and your absolutely right Razzy has made some good points that could really open up a few peoples point of views , setting goals is great i do it all the time small ones are the best easier to knock down and when you get them out the way you feel your accomplishing more instead of being over whelmed by a big goal that you might not be able to reach, in the long i believe it is about making sure you got priorities right, appreciate the comment

10 years ago

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MusicMoguls

i appreciate you taking the time to share your thoughts Razzy, and i believe you do come across valid points i see you took the time too mention how that i should look at it as my business money and also look at is as investing in myself, i can fully understand your point of view but as you know purpose of making a living for yourself is too provide for yourself and your family, i completely agree just as you said do not pay yourself more then you need us the excess to invest in "yourself" as you said.

10 years ago

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idealmike

Sometimes you have to speculate to accumulate! Or sometimes said you, gotta loose some before you can make some. If you're running a business and you need things like materials or stationary to run it then you have to make those investments for the business to run smoothly or at all. When they run out because you've sold them or used them or they don't serve a good purpose anymore, you will need to buy more again. So there will always be business costs when running a business of any kind mostly but some in particular.

Example being if you're a painter/artist and you sell your paintings locally and worldwide on your website. You'll need to buy paint. Canvasses, brushes and the like. Plus you'll need to pay for webhosting fees, and maybe even pay for some SEO or social media management and promotion for your site and business to actually get customers and make sales to justify the spending.

Even if you're an affiliate or freelancer. You may need to outsource some particular work or buy it somewhere else if you're acting as a reseller or middleman. Plus to be an affiliate or freelancer or both, you'll need to pay for the Internet connection. And pay for any repairs or maintenance or upgrades to equipment used in your business such as your computer, laptops, tablets, mobiles, printers, routers etc.

But that all requires a lot of thought and planning at first to make it all come together. You crunch the numbers together from the start and make those investments because you know it brings back a bigger reward for it. And if you are at the stage where you feel you want to make some more investments in other business ventures, you have to think about what you'll need, how much it will cost and whether it will be profitable or not to do in the long run. Then you know if it's worth doing and trying or not.

If you think you can make money with the idea you have but you know you'll need to purchase equipment or services or things first. Then at some point you will have to bite the bullet and make the first purchase to get things underway and afoot so they say.

It could be that you could create a well oiled machine that goes on to be a cash cow. But at some point you have to decide whether or not you want to make that investment or save your money and wait it out and do a bit more research into it first for a while.

And that is easy and sensible to do if you have other bills that you need to take care of on a regular basis as well. But I guess it really comes down to you and whether you believe in that idea enough to invest in it and see it take place.

At the end of the day, you'll only be doing what you think to be the right thing to do at that time and doing it for your family too. One thing I know is that if you've got other successful well oiled machines business ventures afoot then use that as a sign.

You probably have the potential in you to carry out your plan that you'll invest in. And if the chances are that it will turn out to be profitable in the long run. Then only you can make the decision to execute the plan and invest or hold back and save your money for now.

Completely up to you. I don't want to be your decision maker, but like said, if you believe you're onto something and you've already crunched the numbers and thought of every possible scenario and outcome then it's only fair play if you do invest and get it afoot.

Fortune often has a way of favoring the brave. That's one thing I've discovered about business ventures. But I've also seen and heard of a lot of horror stories too. According to Bloomberg, 8 out of 10 US entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn. 20% of new UK businesses fail within the first year and 50% don't make it to more than 3.

I'm not trying to persuade you or put you off it's just worth mentioning that.

As said, fortune often favors the brave! Sometimes you have to [b]speculate to accumulate[/b]! Or sometimes said you, gotta loose some before you can make some. If you're running a business and you need things like materials or stationary to run it then you have to make those investments for the business to run smoothly or at all. When they run out because you've sold them or used them or they don't serve a good purpose anymore, you will need to buy more again. So there will always be business costs when running a business of any kind mostly but some in particular. Example being if you're a painter/artist and you sell your paintings locally and worldwide on your website. You'll need to buy paint. Canvasses, brushes and the like. Plus you'll need to pay for webhosting fees, and maybe even pay for some SEO or social media management and promotion for your site and business to actually get customers and make sales to justify the spending. Even if you're an affiliate or freelancer. You may need to outsource some particular work or buy it somewhere else if you're acting as a reseller or middleman. Plus to be an affiliate or freelancer or both, you'll need to pay for the Internet connection. And pay for any repairs or maintenance or upgrades to equipment used in your business such as your computer, laptops, tablets, mobiles, printers, routers etc. But that all requires a lot of thought and planning at first to make it all come together. You crunch the numbers together from the start and make those investments because you know it brings back a bigger reward for it. And if you are at the stage where you feel you want to make some more investments in other business ventures, you have to think about what you'll need, how much it will cost and whether it will be profitable or not to do in the long run. Then you know if it's worth doing and trying or not. If you think you can make money with the idea you have but you know you'll need to purchase equipment or services or things first. Then at some point you will have to bite the bullet and make the first purchase to get things underway and afoot so they say. It could be that you could create a well oiled machine that goes on to be a cash cow. But at some point you have to decide whether or not you want to make that investment or save your money and wait it out and do a bit more research into it first for a while. And that is easy and sensible to do if you have other bills that you need to take care of on a regular basis as well. But I guess it really comes down to you and whether you believe in that idea enough to invest in it and see it take place. At the end of the day, you'll only be doing what you think to be the right thing to do at that time and doing it for your family too. One thing I know is that if you've got other successful well oiled machines business ventures afoot then use that as a sign. You probably have the potential in you to carry out your plan that you'll invest in. And if the chances are that it will turn out to be profitable in the long run. Then only you can make the decision to execute the plan and invest or hold back and save your money for now. Completely up to you. I don't want to be your decision maker, but like said, if you believe you're onto something and you've already crunched the numbers and thought of every possible scenario and outcome then it's only fair play if you do invest and get it afoot. Fortune often has a way of favoring the brave. That's one thing I've discovered about business ventures. But I've also seen and heard of a lot of horror stories too. According to Bloomberg, 8 out of 10 US entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn. 20% of new UK businesses fail within the first year and 50% don't make it to more than 3. I'm not trying to persuade you or put you off it's just worth mentioning that. As said, fortune [b]often[/b] favors the brave!

10 years ago

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Lynne

Well what sort of bills do you have? If you have debt I would say allocate a nice portion of money to killing off all debt and then I agree with what Razzy and EliteWriter said. Keep investing in your business and take only what you need to live on.

10 years ago

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Corzhens

When I joined some sites to try freelancing work, that was the time when the bubble burst, so to speak, that it was the talk of the town, that so many users were scammed of their earnings. With that issue, I was on the lookout for telltale signs that a site that supposed to pay for my contents would not pay me. And my policy had become safety first with money matters. In the regard, I never thought of investing money in the internet.

8 years ago

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