Why You Should Invest in Your Business Growth This Year | EP 712

Why You Should Invest in Your Business Growth This Year

Read the full episode transcript below:

00:28 David Blackmon: Hey everybody, welcome to another episode of WP The Podcast, I’m David Blackmon

00:35 Tim Strifler: And i’m Tim Streifler

00:38 David Blackmon: And believe it or not, we are recording this episode and we’re recording the video aspect of it you may not listen to the end when i announce that you can watch these things on youtube so i’m putting it at the beginning. Come join us on YouTube youtube.com/wpgears 

00:54 Tim Strifler: Yes you can see our smiling faces instead of just hearing our voices…

00:57 David Blackmon: Absolutely. So today’s topic, why you should invest in your business growth this year in 2022? Now before we dive off into this topic i’m going to put this out there Tim, and i have not discussed this at all. So usually we prepare, we’re ready you know, we want to cover the topic we know what points we want to cover. We haven’t done it on this episode. So i have no idea what Tim’s going to say and he has no idea what i’m going to say which i’m kind of excited about it. Makes for a little bit different of an episode you want to go first do you want to go last Tim?

01:32 Tim Strifler: I’ll go first because i i want to address. I guess kind of the the what the idea was behind this topic. So i think in this economic climate, right we have high inflation, we have low economic growth, we have political turmoil you know with the war in Ukraine… And uh there’s supply chain issues, like there’s a lot of crap going on in the world, and so naturally when that happens people are less likely to want to invest people hang on to their money rather than wanting to invest in their own business and spending money and doing things like that. And so that’s a natural reaction to uncertainty in the world. And um the idea behind this topic is to discuss some reasons why despite all of that crap that we’re going through right now, like globally this is why you want to invest in your business anyway. So that’s kind of why and so that i didn’t tell David ahead of time, so he might have thought. I don’t know if this is what you were thinking at all David with the topic, but um or just kind of more in general. But um so i guess in light of that my opinion is this is the time when you want to invest the most, because if you think about it when things are rough and so many people are holding on to their money and not investing in in their business, this is when you can get the extra leg up. And you can invest in your business growth. And be able to, you know, get a leg up on your competitors and stuff like that. You know, when everyone else is hanging on to their money this is when you can put some marketing dollars, and dollars behind your your sales staff, or you know whatever it may be in order to really grow your business. And so that’s kind of the the the thought process there so David what do you think?

03:32 David Blackmon: Dang Tim, you took the never mind, i’m not no let me let me tell you where where i’m at what i believe on this. I i agree with everything that just said and i think that regardless of what’s going on in the world and whether it’s personal or business growth we should always be growing. We should always be learning something. So whether it’s on a personal level and we’re we’re trying to learn more about ourselves grow our spiritual lives or our physical or emotional lives whatever it is it benefits us on a personal level and it’s no different in business. I think a lot of times business owners can get stagnant i’m i’m 100 guilty of this where i can you know just kind of coast on what i did yesterday today, and i can tell you from experience when you do that you can do that for a little while but there’s going to come a time where things are going to kind of dip and drop because you haven’t really done anything. You haven’t done any business growth and i think that we should in business. We should always be learning and stuff. And Tim’s right, when we’re learning and we’re we’re learning how to whether it’s serve our customers better or learn how to acquire new customers or to grow our company in a different way than it than it was before then that’s huge for us and it’s really really good. And we should always be on that path. It doesn’t necessarily mean for me i’ve got to always be spending money but guess what sometimes it does mean spending money but sometimes it’s sweat equity and stuff. And it’s and it’s just putting in the time and effort and stuff. So i think um now is a perfect time to invest in your company times. Tim’s right, times are changing inflation’s super high uh it’s scary it’s a crazy ass world right now and you need to be able to that the companies that have learned to adapt to the environment that that is going on like 2020 the pandemic hit doors shut. A lot of businesses didn’t have an online presence and they closed forever. Yeah so if you’re not you better be prepared if that wasn’t a wake-up call enough for you it’s a wake-up call there’s a lot of stuff going on in the world and you should always be growing and stuff. So that’s kind of where my mind set was um and you know Tim, and i have you know we’ve invested in our companies all along the way and we’ve invested in our clients as well um we’re also educators obviously this podcast is an education tool that we share our knowledge with we learn things we share it with you guys. But we’ve also, you know um you know, have business owners who who desire to take their business to the next level and stuff. And Tim and I educate in that arena as well. So if you’re interested in finding out more about that head on over to wpgears.com and you you can see what we do outside of our day-to-day wordpress companies and doing this podcast and stuff so yeah.

06:54 Tim Strifler: Yeah. Yeah one last thing i want to add to that uh you know we’re talking about why you should invest in your business growth this year. So talk about investing, uh Warren Buffett who’s one of the most famous investors out there has talked a lot recently about and he’s not the only one that’s been talking about this, but the worst thing that you can do during in times of inflation and poor economic growth is to hold on to your money. Because when you’re doing that and you’re just holding on to cash your money is actually devaluing and you’re actually losing money opposed to investing in. So his advice is always to invest the money into uh, he’s an American investor so invest in American companies in the stock market. And you’ll see a return over time uh compared to just holding on to your cash so i’m going to take it one step further and say invest in your own company opposed to holding onto your cash and seeing your money you know decrease over time devalue over time the the purchasing power of that of those dollars is is going to be less a year from now than it is today because of inflation. So um so yeah invest in in your own company that’s going to look different depending on where you’re at that might be increasing your ad spend or starting an ad spend or it might be investing in yourself education as David mentioned. Wpgears.com we have some great courses that can help you with that um so yeah whatever that looks like for you we encourage you to find ways to invest in your business growth this year.

08:23 David Blackmon: Tomorrow we’ve got another great topic, WordPress plugin highlight: Safe SVG, until tomorrow we’ll see you then.

08:26  Tim Strifler: Take care bye-bye