The math of maximizing your return on investment (ROI) is straight forward: generate as much in returns as possible while investing as little as possible to create them. Up with the R. Down with the I. Success!
One strategy to achieve that result?
Milk your big investment in every possible way after you’ve made it. Stretch it, morph it, contort it. Protect every return, no matter how meager, at all costs. If you do that, you won’t have to invest much more to generate seemingly acceptable returns. Using this approach, any return you get looks (maybe even feels) like a good thing. You settle for the return, even if it’s paltry, just because you got out what you could without making new investments.
I’ll admit that that’s my go-to strategy. It fits my world view.
There are other possibilities, though.
What’s your WBI?
One alternative depends on your WBI: Willingness to Blow up Investment.
Photo by Yosh Ginsu on Unsplash
WBI can be another route to maximize your returns. But it takes faith and hopefulness, along with no qualms about any pains associated with walking away from what you’ve built and starting over. The faith and hopefulness tell you that amazing results are waiting somewhere else. Go invest there, with a fresh start, and you’ll maximize returns.
What if your WBI is low or non-existent? What if you suspect the possibilities associated with the new investment opportunity are inferior?
Then you sit on your butt and settle. And fool yourself. Until it’s too late.
You’ve weathered this much of 20201 with all the disruption. If you haven’t yet blown up the old investments that aren’t working for you like they should, maybe it’s time to finally do it.
Go all-in on your WBI. Now. – Mike Brown