When I started out as a young entrepreneur, the best business advice I got was “You will never get as good of a return on investment as what you’ll get by investing back into yourself & your business.” This statement can’t be true enough.
I have people ask me all of the time, “Simon, where should I invest my money?” They come to me expecting me to tell them my real estate investment advice, or how to navigate the stock market. The answer I give them is a two-part answer. The first thing I say is that the most valuable piece of real estate you can invest in is the six inches between your ears. Invest in yourself mentally. Read books. Listen to audio books. Invest in strengthening your knowledge.
The second part of that answer is the more literal advice that they’re looking for when it comes to money. At one point, I was considering investing into restaurants & hotels. Right around that time, I spoke to a billionaire & I asked him his opinion on some of the things that I was considering. He laid it out so clearly for me. He asked me what would happen if I took all the money that I needed to start up those businesses, and the time it would take for them to become successful, and I just poured that back into Arias Agencies? Essentially, he was asking, what would happen if I bet on myself in an area where I already had some expertise. This was some of the best advice I’ve ever received as a young entrepreneur.
Additionally, the best advice I ever received regarding management is “People don’t care how much you know until they know how much you care.” As a leader, your relationship with the people on your team is the foundation to growth & achieving your goals. You need to establish a personal relationship with the people that work with you if you want them to share your vision. You’ve got to know what’s important to them & it needs to become important to you too.
Invest in yourself, your business, and your people. That’s the best advice I can pass on to you.