Businesses never make money by saving money. Instead of trying to save money in your business, you must invest your money in such a way that it earns a return for your business.

Instead of cutting costs, watch this short video and inspire yourself to start thinking about where you should be investing your resources.

Action Steps:

  1. Calculate your Cost Per New Customer, or CPNC. Your CPNC is your customer’s projected value divided by 3. This calculation satisfies the “Rule of 3″ from the video.
  2. Find ways to invest in increasing your customers’ loyalty to your business. Is there a way to make your customers thrilled, happy or excited about doing business with you? Brainstorm some ideas, pick one and execute it.
  3. Share some of your suggestions on how to make wise business investments on this page.

Principles:

  1. The Rule of 3 says that every dollar spent should add at the very least $3 to your bottom line.
  2. By using the Cost Per New Customer (CPNC), you’ll increase the odds that your make money in your business when advertising.
  3. Investments in customer loyalty tend to yield the highest returns for small businesses.

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