The new competitive edge, be more resourceful and get more bang for your buck. Tips on how to better utilize your resources and increase your return on investment.

How to get the most out of your current improvement resources, increase return on investment, and get more bang for your buck! 

Whether you are a manager, an executive, a business owner, someone seeking a new job, or new to the job market, everyone wants to get the most out of their time and investments. Today, there is an even greater emphasis on cutting back and watching budgets, resulting in a need for creativity and resourcefulness.

Luckily we live in a resource abundant society, with the internet being just a click away we can easily research and find credible information, products, and services. The truth is lack of resources is rarely the issue. Information overload and lack of application is something I see happening on a regular basis. People are distracted and overwhelmed by the amount of information and resources available to them.

So how do we make the most of these resources?

Imagine you are sitting at home feeling hungry, you look in the fridge and in the cupboard and come to the conclusion, there is nothing to eat. Occasionally this might be true, but more often than not, there is food. But it requires preparation and it might not be that exciting. It is much more exciting, appealing, and convenient to simply order a pizza or go out for dinner.

Being resourceful and getting the most out of your current resources means you open the fridge, grab ingredients and come up with a creation. You are resisting the temptation to buy your way out of the challenge.

The need: To eat.

The resources: What is in the fridge & cupboards.

What do you like most? What is it, what are its qualities? pro’s/cons?: Pick the ingredients that are most appealing and best suited.

Creativity: Putting something together from the ingredients.

Focus & Action: Getting it prepared, cooked, and eaten.

The result: A full belly, happy mind, and maybe even some savings.

Business Example:

The need: My client needs a website, cheap and has no budget.

The resources I have: What is it, and what are its qualities? (pro’s/con’s)

A web designer friend. If I get stuck I can call my friend. 

Elance, cheap web design work done remotely. 

Experience working with Shaw templates.

MonsterTemplate.com, cheap but requires a lot of software and skill. 

Wix Flash sites, includes template, and stock photos. Small monthly fee to operate.

Access to the internet for free stock photo’s.

Example content to give me some ideas.

A love for creativity and learning new things. 

What do I like most and would be best suited to the need?

Based on my needs, I think WIX could be utilized with my skill to create an site for next to nothing using my resources.

Creativity: Putting it all together; how will I use these ingredients to create success? What will it take, what will it look like?

The focus & action: Get prepared, create the site, launch the site.

The result: A website that looks professional, a happy budget and client.

ACTIONS

1.) Determine What is the need? What will you be using the resource for?

2.) Identify what resources to you have, make a list and be sure to include your own personal skills and talents.

e.g. Mentors, Books, Internet, Friends, A creative mind, A certificate on time management.

If in this process you determine there is in fact an important missing ingredient that must be acquired, then at least you have maximized what you already have and know exactly what is missing. 

3.) Pick what you like most and think will be best suited to your needs. Does it fit the requirements well?

4.) Establish how you will use this or these resources to create success.

Put it all together using your creativity.

5.) Give it your focus and put it into action: Get prepared, plan, and put your resource to use and action.

This is IMPORTANT: It is crucial that you put the resource into action. The stir fry is not going to make itself.  Getting organized, on track, and focused requires that you put your ingredients/resources into action. If you have sales goals, or want to create a killer resume, you need to put the resources into action. Follow the instructions, use the key ingredients best suited to make it happen. 

HOT TIP:

Whenever possible use time and attention skills & structure to help you create success. Make it real and book the time to get it done,.

6.) Measure your result. Was it a success? Do you need to acquire additional resources or look at your current ones to improve.

7.) The result. Success through creative and resourceful mind. 

 

When the decision is made to invest in something to help better our situation or increase our chance at success, there are ways to waste our time and money and ways to help us increase our return on investment. 

 

Here are 4 top tips on how you can increase return on investment, personally or professionally.

 

1.) Follow up & Follow Through: Did you finish reading that book? Did you walk away from the training course and never look back? First and foremost if you want to increase your return on investment, put in the effort and action. Go back and revisit something you once had interest in and never followed up on, create an action plan and make it happen.

 

2.) Evaluate the investment: Is there something more you can get out of it? Can it be used in any other way that is beneficial? Use creativity to help improve return on investment. If it is a course or training program, are you using it to it’s maximum capacity, or at least decided on how you can apply a few things you learned and turn it into action?

 

Can this investment make you more money?

Can this investment be used in any other way?

 

3.) Create a list of things that you learned or took away from the investment. Even if the investment didn’t seem like a success, you can still decide what you took away and learned from the experience. Focus on the positive, and be grateful. There is always something to appreciate or take away from every situation.

 

4.) Action, Action, Action. Put the investment to work. This is the best way to ensure you get the most return on investment. Whether it is a new laptop to help you make sales and create invoices, or a course on managing your time. Put it into action and make sure it is working for you, not gathering dust.

 

 

We can all be a little more resourceful when it comes to our personal and professional lives. Less waste and more creativity. If you are in sales it is not the new laptop that will make or break the deal, it is your personality, experience, confidence, and dedication that will give you the best shot. Your personality, experience, confidence and dedication are your resources, so increase your personal return on investment by tapping into your personal knowledge.

 

 

It is so easy to try to buy our way to success, or ignore the valuable lessons and resources we already have available to us.

 

Often we are looking for something new to solve problems and challenges when the answer and resource is sitting right in front of us. A good book, a mentor, an article, a course on time management, or even daily exercise and eating right.

 

Some of the most innovative and successful ideas come from a creative mind meeting a necessity. Challenge yourself today to get more creative, use what you have and do something unique. You might be surprised how much you already have and how much you can get out of it.

 

 

 

 

Jennifer Nuce, Level 88 Consultants. (Helping Leaders Reach Another Level)

I help leaders develop the effective habits they need to increase success for themselves personally and professionally. 

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