The Value of Personal Investment

To all info marketers,

I hope you had a good weekend. We had lots of snow here but I managed to make the best of it and get out skiing very easily. Driving was another matter, though (!).

I got an e-mail late on Friday from another info marketer. He was confused about his expenses. Along the way, someone had told him that old maxim: "It takes money to make money." Of course, his next question was: "Well, how much...?"

It's a good question and am I ever glad he asked me first. Because I really don't have the answer. That's the truth. It would be presumptuous of me to go and tell this man how much he should and shouldn't spend on his business. They will have to learn for themselves.

I can however give some advice on some do's and don't's of investing in your own information marketing business that I know will help you:

a. DO budget yourself - I have mentioned this before and I will mention it again. Coming up with a reasonable budget of what to spend on your business and sticking to it will save you infinite problems and hassles. Consider what tools you wil need and take some time alotting the appropriate funds for the venture. Then spend accordingly.

b. DO think about the future - You cannot predict everything that is going to happen to you, either in your personal or business life. But you can prepare for as my friend John calls it "the worst case scenario". Start reading the business section of the newspaper and try to keep abreast of what the economic forecast is predicting. Be sure to save some money along the way, and monitor your expenditures and revenues closely.

c. Do NOT believe in magic, miracles, or the like - Sadly there is no magic in business. None. While some people consult psychics and spiritual advisors, I am of the opinion that commitment is the best way to go. Part of commitment in anything, be it marriage, or business, requires you to endure through tough times. My superior Michael Lombardi has endured quite a few of these but has continued on despite this. Why? He loves it and cannot imagine doing anything else with his life. Once you settle on information marketing, your perseverence and hard work will reward you, but only with commitment and planning. It's that simple.

d. Do NOT rush into it - As with the above, you can waste time and money if you move too quickly. Personal success will come, but not overnight. You have to work at it. Don't go too fast - it's not worth burning your wallet or yourself out at all.

My suggestions above might sound too simple, easy, and trivial. But they are important. Too often, entrepreneurs have fallen by the wayside because they did not remember the importance of these tidbits of information. You have to invest in yourself, but with discretion and some forethought.

For more information, visit us here at the Information Marketing Institute website.

Best,

JB