Posted on July 4, 2014 @ 09:05:00 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 stabalize the corner of a building with a cement foundation. The corner was being worn away probably 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 door so that I don't have to use planking to reach the lip of the barn floor. I'm pretty excited to see how it works out once it dries.
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 for me protecting a good farm building is always very high priority investment. I also have a much better idea of how much cement is in a yard and how to form, stablize, and trowel cement so there were also important time investments into developing cement knowledge and skills. As I look inside the barn I can see how my cement knowledge and skills might come in handy if I pour a cement floor in a part of the barn. I would like to build an hygenic fermentation and processing area for some wine grapes I'm growing at the farm (my 3 yr olds might produce this year).
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.