Continuously Investing in Your Business

In this insightful episode of Business Brilliance, host David Habish explores the critical concept of continuous investment in the human elements of business. From training and compensation to work-life balance and self-care, discover how making objective decisions about the people side of your business can lead to sustainable success. Learn why investing in yourself and your team isn't just good practice - it's essential for long-term business growth and personal fulfillment.

Welcome to Business Brilliance, the podcast where we help you navigate the complex world of business and personal development. I'm your host, David Habisch, and in this episode, I wanted to look at how to make objective decisions around such things as training, compensation, benefits, family, and self-care.

So, what does “continuous investment” mean to you, especially in terms of the human parts of your business? Well, let’s break it down.

When we talk about what this means, one answer that comes to mind is training. Training is essential in any aspect of life, whether it's for personal growth or professional development. It’s a way to expand your knowledge and skills, and ultimately, it can lead to success in whatever field you're in. But training is just one piece of the personnel puzzle.

You also need to look at other things like your compensation plans. Are you paying people what they deserve? It’s important to stay up-to-date with pay plans in your industry and make sure people are being fairly compensated for the work they are doing, yourself included.

Another factor to consider is adding benefits as it’s not all about the money. You may offer competitive salaries, but what about other perks? Are there health insurance plans, retirement contributions, or flexible work options available to you and your team? These can make a significant difference in overall job satisfaction and well-being.

Now, here comes a tricky part, especially for the boss. While it may sound selfish, investing in your family and yourself should be a priority as well. This doesn't mean neglecting work or failing to contribute to the well-being of the business. Instead, it's about finding a balance between taking care of your own needs and supporting those around you.

In a lot of ways, making decisions objectively about the people side of the business is crucial. Assess your situation, consider your options, and make choices that align with your values and goals. Sometimes, it's necessary to put yourself and your family first, even if it means making difficult choices. Remember, it's okay to prioritize your own happiness and well-being. By taking care of yourself, you can be in a better position to support and care for others.

It's like the analogy of putting your own oxygen mask on before helping others in an airplane emergency. If you don't take care of yourself first, you won't be able to effectively help those around you.

Thank you for tuning into this episode of Business Brilliance. If you found today's content useful, please consider subscribing and sharing this podcast with others who might benefit, or join us at an upcoming Tiger Team Roundtable and experience the power of having a group of peers to draw upon. I'm David Habisch, and until next time, don’t forget that the people side of your business needs investments just as much as the inventory, machines or other means of delivering your product or service. In fact, the people part of the equation might just be the most important piece of all.