Are You Still At Risk? Not if you consider this tip…
As the president of The Henry George School of Social Science in NYC, Andrew Mazzone offers his financial expertise and insight on the economy and how it has the potential to affect your business. Even seemingly wealthy and successful business owners are at risk of eventually hitting a wall. As most of us already know, there are certain points when a business/company may be experiencing a surplus in funds. Some elite “one percenters” often times take advantage of this increase in profits to benefit their own bank account instead of seeing it as an opportunity to re-invest in the economy or at the very least their own company.
Through Smart Talk, a series of discussions with leading economists, moderated by Andrew Mazonne himself, the economy is not only analyzed, but it is broken down. Professional authorities explain how it will inevitably and directly affect maintaining your business platform so it does not crash and burn in an evolving economy.
When owners are faced with that moment of decision making, their moral compass is often overshadowed by the potential improvement of their own personal status- expanding operations falls lower on the priority list despite their better judgement. The basic fundamentals of business include generating and distributing service. Supply and demand. Economics 101.
However, more and more individuals are beginning to invest in themselves as a business instead of relying on the head honchos leading them to the promise land of financial freedom. Even though this is capitalism at its finest, the authentic “dreamer” and entrepreneurial spirit tend to be blind to the current state of the economy. There is a specific financial strategy common among all of the top players in the industry- reinvesting. Many intelligent business owners understand the concept of investing in order to prosper, but fail to see the importance of reinvesting.
-And although the country thrives off this mindsight, it is crucial to be educated on the true value of social justice and how the economy works so you can comprehend the benefits of reinvesting.
Every business owner wants the same thing, to be an economic force with ongoing and growing cash flow. Consider this a financial survival guide presented by the individuals revolutionizing the forefront.
Reinvesting is the best way to build your wealth. It is worth keeping in mind that investing isn’t just about the sudden influx of riches, but the appraisal of time and credibility. Reinvestment is a necessary evil. It doesn’t have to be all of your excess “dinero”, but a significant amount of resources, which when targeted effectively, can drastically monetize your bottom line.
Since there is no exact dollar amount to reinvest as missions vary, you can still focus on the other reinvestment aspects of your business- essentially catering to longevity and gain.
- Reinvest Financially
This includes improving infrastructure, streamlining manufacturing, strengthening customer support/retention, and a more defined, clear-cut marketing strategy. There is truth to the adage that you have to spend money to make money. Tracking of all progress on promotional initiatives is key.
- Reinvest Your Time
Time is money. By spending a small percentage of your profits to free yourself up can actually work out in your favor. Outsourcing administrative tasks and letting someone else tackle customer service, marketing, and bookkeeping allows you to take the time to step back and re-evaluate your goals and dedicating yourself to increasing sales.
- Reinvest Expertise & Experience
Further training and education for yourself or your employees can pay off each time new skills are used. Some companies will even offer apprenticeship programs. A well-educated workforce can be a significant asset to a company and smart organizations invest in keeping their employees well trained and up to date on their credentials.
Many people are not savvy enough to allocate reinvestment responsibly simply because they view it as spending money. Implementing the right resources will avoid plateauing, failure, and other burdens. For those who aren’t interested in scaling their company or increasing profits – maybe advanced fortune just isn’t for you.
Thomas F. La Vecchia, President of X Factor Selling Systems, recently released his #1 rated book on Amazon, The X Factor Selling System: The Sales Expert’s Guide to Selling, as a way to simply “get to the point” and find out not only what is important to your customers, but also what prompts them to act.
Want to make more money? Want to increase sales? The real question is do you have the skill and/or will to make your dreams reality? X Factor Selling Systems is a full service business development consultancy which works with its clients to acquire, convert and retain customers. Our proprietary system incorporates online marketing, sales development and customer relationship management to help manage your reinvestment.
Economic education is for everyone. Discover how the economy really works.
Explore the issues that are important to your life. Participate in the Henry George School of Social Science in NYC’s tuition-free courses and seminars for your business venture.