Expense vs. Investment Mentality
February 6, 2024
Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Expense vs. Investment Mentality
0:00: Viewing business expenses as investments. Mercer and Jeff discuss the difference between expense and investment mentality in business.
1:17: Expenses vs business investments. They discuss the distinction between expenses and investments in business, with a focus on how they are perceived in the sales process.
4:44: Expenses as investments, time management, and prioritization. Mercer and Jeff discuss the mindset shift from viewing expenses as necessary investments, rather than pure costs.
8:16: Investment mindset in business and sales. Jeff discusses the importance of adopting an abundance mindset in business, particularly with investments and sales. Mercer helps clients see investing in analytics as an investment, not an expense, leading to better sales and results.
14:19: Marketing strategy and mindset. Mercer emphasizes the importance of a strategic mindset in marketing, rather than just relying on tools and tactics.
16:39: Recognizing and addressing bad investments in business. Mercer recognizes and addresses misclassified expenses as investments in his business.
20:34: Mindset and investing in coaching for business success. Jeff reflects on the unsuccessful client vs the successful client and the mindset of viewing coaching as an expense vs. as an investment in growth.
23:31: Investing time and money for personal growth. Mercer shares a real-world example of how he shifted his mindset from viewing a company as an investment to an expense, and then back to an investment again.
28:10: The importance of mindset in business decision-making. Mercer and Jeff discuss pricing strategies, including raising prices without adding value.
Topics Covered In This Episode
- Mindset Shift: Mercer and Jeff delve into the crucial difference between viewing business expenses as investments rather than mere costs.
- Sales Perception: They explore how this mindset shift affects how expenses and investments are perceived during the sales process.
- Business Growth: Shifting from an expense to an investment mentality can drive successful sales and overall business growth.
- Time Management: Mercer and Jeff discuss the importance of reevaluating productivity, resource allocation, and prioritization to prioritize growth.
- Abundance Mindset: They emphasize adopting an abundance mindset in business, particularly concerning investments and sales.
- Real-World Insights: Mercer shares practical examples of how changing one's perspective can transform a business, touching on pricing strategies and personal growth investments.