When You should drop a bad investment? By David Feinstein
When You should drop a bad investment?
Losing money in business stinks. In some cases, it can be avoided by knowing the risks associated with the investment. In other cases, the risk is unknown or is polluted by data that may not always be accurate.
This is why reviews on products on Amazon and other places cannot be trusted 100%. There is so much mud racking going on between companies and angry customers that it is hard to determine if moving forward with the solution is feasible. Hopefully today you learn how to drop a bad investment and save you from burning time and money.
Signs of a bad investment
If you are truly putting forth the effort to make your business, you can almost rule yourself out as a cause to any problems associated with your profit building plan. One sign of a bad investment is the lack of long term growth return. If a company that your using is not bringing in long term invests that grow over time, you may want to walk away. There is no short term instant rich program that will work. Watch out for huge cash investments upfront for marketing programs or social media “helpers.”
A good return on a social media firm includes steady follower growth, increased website visits, decreased bounce rates on your pages, a “hot spike” on sales on passive products or increase in email sign ups.
Paid advertising tools such as Yahoo or Google are a hit and miss on the investment issue. Sometimes it can pay off big and other times, you will lose more money in the long run than gain. If you do paid ads, make sure you understand search engine optimization and search engine marketing completely. A good freelancing firm should help you gain exposure on the internet, help increase visits and help your company keep growing after month two. It can take a month or so for a campaign to see any benefit if your using a firm or freelancer. If you’re not seeing anything after month two, its time to back away from such investments.
Protect yourself by research
Protect yourself with research and know the ups and downs of any investments that your looking to get into. This includes retirement options as well. Look for the growth rate of the long-term plan, nothing short term is worth the investment. It will burn out and leave you empty hand. Plans and actions take time, so is building a reputable business.
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