What does investing mean to you? For many, investing is a way to grow your assets and secure a better future for yourself or your business. However, it’s important to consider what you put into an investment, as that has a direct relationship to what you can get out of it.
The idea that you reap what you sow seems so obvious, it is often forgotten. In today’s fast-paced digital world, it is easy to become distracted by the lure of a quick return. Instead, successful investors stay focused on a fundamental truth: A thing can only grow when someone invests time and energy into it.
Real Estate Investments
Are you invested in real estate? Investor Amandeep Khun-Khunrecommends taking time to find the right tenants for your space, and to ensure your building is able to meet your tenants’ needs. In addition to general maintenance, a successful landlord ensures that the building meets or exceeds all health and safety guidelines, and invests in amenities that make the property desirable.
Is your only real estate investment your own home? For many people, their home is the largest personal investment they have. Time and money invested into maintaining and upgrading your home pays off twice: First, you get to enjoy a more well-kept and livable home. Second, your home is more valuable when you are ready to sell it.
Do you own a business? For your business to become a valuable asset, you must invest in the people and the systems that make your business indispensable to its customers.Invest in your employeesby establishing a culture that encourages their talents and promotes their growth. Invest in your operations by ensuring that systems and processes are written down, reviewed regularly, and accessible to your team. If you have plans to exit or to sell your business, even if that’s years down the road, invest time in developing a good exit strategy.
Stock Market Investments
Are you hands-on with your investments? While it is a good idea to seek the advice of a financial advisor, don’t make the mistake of placing all decisions in the hands of a third party. When you pay attention to something it is more likely to grow. This isn’t superstition; when you are aware of your investments and how your portfolio grows, you are more motivated to make regular contributions. You are also more likely to notice trends and to make decisions based on what industries you’d like to support and where you expect to see growth.
What is your most important asset? Your relationships. Whether business or personal, relationships provide the most consistent return on investment. If you are achievement-oriented, you may forget to focus on building relationships, whose value cannot be quantified in the same way as business or financial assets can be. Never neglect this most valuable asset – your network of relationships will become a wellspring of emotional support, knowledge, accountability, and resources.
The most important lesson of investing is that givers gain. Treat your investments as a valuable asset, give them your attention and care, and they will pay you dividends.