When is your investment in something enough?

Jul 31, 2020 at 16:12

Desktop copy of do you know your expense base 2
Lyn Man

Lyn Man

United Kingdom

At what stage do you say your investment in something is enough and you need to write it off?


I was speaking to someone to day who shared that she has bought a membership to an on-line programme earlier in the year and not used it yet. She was thinking she would focus on it later in the year.


However, there would be a huge cost in time to do this which would take her away from developing her business and income generation.


On top of this what she would create as a result of going through the programme was more of a side project than a key part of her current business, and there would be ongoing costs of time and money.


Sometimes we feel we have to continue down a certain path because we have invested in it; be it a certain way of marketing, a product or service which might no longer be right for the market, a training programme which was a ‘nice to have’ or the technology we use to support our businesses.


But is it still the right route?


It is OK to change your mind. You may feel you have wasted money, you may feel you have failed or other emotions. This is not the case; remember you made a decision based on certain information at a point in time. 


Things change, priorities change, life changes!


It is about what is right for you going forwards.