The most important investment you can ever make is in yourself. As a young woman in business, I have seen the returns on the investments that I chose to make as I embarked on my entrepreneurial journey. I would always encourage other persons to do the same. For some reason, it is always easier to spend money on tangible assets and equipment for our businesses. Your business exists within an ever-changing environment. Therefore, it is of utmost importance to invest in yourself to remain ahead of the game.

Human capital is the backbone of any business. Dictionary.com defines human capital as:

the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

We generally think of education as the main human capital investment which can be attained. However, investing in yourself is much more than formal education. Entrepreneurship requires a host of skills, abilities, and competencies, and personal growth assists with their development.

Activities such as reading, learning new skills and honing your talents help you as a professional and will be of immense value to your business. As an entrepreneur, self-investment may also take the form of online consultations, seminars with leaders in your field, hiring a business coach, or learning from tutorials in the areas you wish to develop.

I believe that you need to be the best version of yourself to deliver the best service possible to your customers. They need to feel comfortable relying on you and your expertise. Business interactions are improved and enhanced customer relationships are fostered when personal development investments are undertaken.

Our focus as entrepreneurs should also be on creating a valuable brand. I am of the belief that YOU ARE YOUR BRAND. For instance. a simple investment in a website for your business helps to give you and your brand credibility. I have observed too many businesses of enormous potential with no domain name registered. The way you present your business to your customers speaks volumes about the value you intend to give. A professional website that reflects your vision and mission boosts your brand’s value and can, in the long run, increase your potential for business growth. There is hardly a disadvantage to investing in a domain and website for your business.

Benefits of Self-Investment

Investing in yourself results in several bottom-line and personal benefits:

• It helps you to gain clarity in establishing your goals.
• You become aware of the necessary steps to achieve your goals.
• It results in an increase in your professional value.
• You gain confidence in your skills and abilities.

It is evident that self-investment is one of the most valuable undertakings in entrepreneurship. Entrepreneurs can possibly lose tangible investments. Investing in yourself, however, gives you an invaluable long-term return.

If you agree with the importance of investing in yourself, feel free to leave a comment below.