BRX Pro Tip: Do You Have a Problem You Can Solve by Throwing Money at It?
Stone Payton: [00:00:00] And we are back with Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, the question of the day, do you have a problem you can solve by throwing money at it?
Lee Kantor: [00:00:12] Sometimes you do have a problem that you can solve by throwing money at it. Sometimes it’s necessary to invest more into the solution that is showing some promise to really see if it can scale and take your business to a new level.
Lee Kantor: [00:00:25] I think a lot of people are hesitant. When they have something that is working, they don’t play it out all the way. They don’t really kind of see what it could be. I think that if you have something that you’re doing that’s working a little bit, it might be time to throw some more resources into it and see if it can work even better if you put the necessary investment into it.
Lee Kantor: [00:00:47] Double down on your winning bets and cut your losses with investments that aren’t paying off. Try that for a while. See if you can really move the needle in your business by seeing, “Hey, this is working a little bit. Let’s just pour a ton of resources into this to see if it’ll work a lot,” rather than just kind of dabbling on lots of things with mediocre results. Double down on the winners and cut your losses with the things that aren’t working.
