When Was the Last Time You Invested in Yourself?

by | Oct 20, 2016

When there is so much work to be done, we forget to carve out space for our own personal development. By and large, we focus on growing our businesses, not ourselves. Does that really make sense? The success of your business is dependent on your leadership! Can you truly lead your business into the future without pausing to reflect on why you’re doing what you’re doing from time to time? Can you inspire your team to greater heights if you yourself are lacking in inspiration? I don’t think you can afford not to invest in yourself.

Earlier this week, I had the opportunity to spend a day listening to successful entrepreneurs share their stories. The Los Angeles installation of Inc.’s iCONIC tour was truly remarkable. For one, the location itself-the historic theatre at the Ace Hotel in downtown L.A.- was a sight to behold. On my flight down the night before, I thought about how much work I had to do. Did the event have to occur during such a busy week? I grumbled to myself. In the end, attending the all-day event was worth every expense, including time, because I walked away with knowledge I was able to implement the very next day.

The first speaker, founder of the Life is Good company Bert Jacobs, spoke about how listening to his customers has lead him to make just about every business decision. His passion for his business, which promotes positivity and optimism primarily through messaging on apparel, radiated. He spoke about how giving back is important to him, and that as a result, Life is Good donates 10% of its proceeds to kids in need. A few months ago, I felt the need to give back, and as a result, am in the process of starting a free program for high school students about licensing. My business is able to do it, but more than that, it’s the right thing to do. So, the timing couldn’t have been better. I’m even more pumped out about making it a success than before. When you give back to your community, Jacobs said, your community will respond in kind. I believe him.

Bob Parsons, founder of Go Daddy, had a message that the story of his career really hit home: Hang in there. Successful people are successful in part because they didn’t give up too easily, he said, unlike most other people. If you truly believe in your product, don’t be afraid to stick it out until opportunity strikes.

Kip Tindell, founder of The Container Store, spoke about how much he values his employees. The retail industry trains its workers for eight hours on average. At his stores, he said, his employees receive closer to 280 hours of training. Wow. That figure speaks for itself. He believes one great employee is capable of doing the work that three average employees are. Because he treats them so well, his employees are his greatest ambassadors, both in and out of his stores. He’s truly investing in people. I want to do the same for my employees.

And finally, what Marcus Lemonis of the CNBC show The Profit said about the role of bosses really rang true. If our employees aren’t meeting the objectives we’ve set for them, that’s our fault, he explained. It’s up to us to do everything in our power to help them be successful. The reality is that many business owners don’t always set their expectations very clearly, if at all. When our employees fail, we blame them. But we’re the ones who are truly to blame, because we haven’t given them a road map. Leading by example isn’t enough. I changed the way I held a meeting the day after the conference based on his insights.

Throughout the day, entrepreneurs spoke about how much their consumers desire and value quality products and excellent customer service. I too believe that, but the experience of hearing it echoed again and again was powerful. Times have changed.

More than anything, I walked away from the event feeling proud of this industry. It got me fired up. Never doubt the value of investing in yourself, whether that means taking a special meeting or attending a conference. You’re not being selfish. You’re empowering yourself to see beyond your day to day and into the future.

Originally published on June 26th 2015. 

Author

  • Stephen Key

    Stephen Key is an award-winning inventor, renowned intellectual property strategist, lifelong entrepreneur, author, speaker, and columnist.
    Stephen has over 20 patents in his name and the d...