Posted on January 19, 2022 @ 11:05:00 AM by Paul Meagher
We may be accustomed to thinking of investors as the party that invests into a company, but the entrepreneur is also investing time and money into growing it as well and those investments will determine the success or failure of the business. So an entrepreneur also has to be an investor
and must continually ask whether they are making the best investments they can with the limited time, money, and assets they have at their disposal.
Today I invested $240 into getting a yard of cement delivered and poured at my farm property. I used the cement to stabilize the corner of a building with a cement foundation. The corner was being worn away by rain damage as rain tends to concentrate on that corner. Turned out that I had quite a bit left over and was able to pour a ramp up to my barn floor so that I don't have to use planking to reach the lip of the barn floor. That is a nice bonus.
Overall I was very happy with my investment into the farm. There are many things I could have invested my time, money, and assets into, but investing a bit of money to protect a valuable farm building was a high priority investment this week. I also have a better idea of how much cement is in a yard and how to form and trowel cement so this was also a time investment into developing cement skills that will likely come in handy in the future.
Each day tempts an active entrepreneur with projects to engage in and money to spend. Sometimes you have to spend and engage in projects, other times you need to disengage and not spend. It is this pattern of investing and non-investing that is key. Many ideas may seem to be important, but in the long run they are a waste of time and resources. An entrepreneur has to be a shrewd investor of money, time, and assets. They need to be always investing.