051: 5 Ways to Reinvest In Your Business in the New Year

Launch Your Box Podcast with Sarah Williams | Start, Launch, and Grow Your Subscription Box

Sarah Williams에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Sarah Williams 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

3y ago 16:56

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I heard a twist on the old saying, “When life gives you lemons, make lemonade,” and thought it was perfect for subscription box business owners. It goes like this:

When life gives you lemons, make lemonade. Then sell the lemonade. With the profits, buy more lemons and make more lemonade. Sell that, too. Then buy a bigger lemonade stand!

Why am I talking about lemons and lemonade on today’s podcast episode?

I’m not, actually. The point is, as a business owner, you need to reinvest in your business. This doesn’t have to mean spending thousands of dollars. It does mean making smart purchases that will allow you to grow your business.

Reinvest some of your holiday profits in one (or more) of these four areas:

Marketing - Consider paid ads, an affiliate program, or paying an influencer or blogger to review or promote your subscription box.
Technology - Is it time to upgrade your website? An improved customer experience will deliver a big ROI!
People - Hire your first VA or in-person help. Get someone to help with social media posts or give a deserved raise to a current employee.
Equipment - My Rollo printer saves me SO MUCH time and money! From an industrial printer to a t-shirt folder, any equipment purchase that helps you gain efficiency and save time delivers major ROI.

Remember, we’re talking about reinvesting profits. After you’ve paid all your expenses AND paid yourself, take what’s left and invest it back into your business. A bonus? Any asset you buy also reduces the amount of tax you’ll pay!

Join me for this episode as I talk about how reinvesting in your subscription box business makes the GROW stage in Start, Launch, and Grow your Subscription Box possible - and how using “subscription box math” helps you figure out how much to invest.

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