Small Investments Equal Big Business

As a small business owner, you need to put your money where it will have the most impact. In a great article on OpenForum.com, Mike Michalowicz, author of The Toilet Paper Entrepreneur, offers these changes to make in your business for a small amount of money.

"You must pick and choose," warns Michalowicz, "rather than just haphazardly picking and choosing things on a whim."

Here are his picks for the smartest small investments to make in your business:

Dual Monitors: Get more organized by investing in a dual monitor for your PC, instead of flipping from screen to screen and program to program.

Google AdWords: "You can instantly bring prospects to your business with a Google AdWords campaign." says Michalowicz. For a $200 investment, your ad shows up when people do keyword searches on Google. Depending on whether you get results, you can test your marketing message and get prospects in the door.

Business Coaching: "A good business coach can see the forest from the trees," advises Michalowicz. " Just a single session with a business coach can give you the outside opinion you need." Bernice Ross, real estate coach and author, says that "a coach can help you increase your production and make your dreams come true."

A Professional Website: This is the number one priority for all businesses. "Cards, letterhead, brochures, etc., combined don't even scratch the surface," states Michalowicz. "Spend the money to make (your website) great (e.g., Web design, professional writing, etc.), because if it is not, the first impression people will get is that you're not great."

A Personal Assistant: Someone to "watch your back". Focus on what you do best and hire someone to help with the details.

"When you take the time to invest in these small things for your business," says Michalowicz, "you will find that they yield a high return. You will be able to work smarter and faster, gain new clients and be able to provide better service. And when it comes down to it, what else is there that you need in order to thrive? Not much!"

Read the full story at OpenForum.com.

photo credit: opensourceway