Return on investment is talked about alot in marketing. So this article could be all about the numbers and the equations and I suppose in a way it still is. But there are alot of factors to take into account when we calculate our ‘investment’ and these are my thoughts on that.
Simply put, the ROI formula is based on two pieces of information – the gain from investment and the cost of investment. The equation that allows calculating ROI is as follows: ROI = (G – C) / C. But there’s alot more to it than that and I’ll share the new equation option in No5.
1. Time is an asset to value
We are here for this one life, we all get just 24 hours in each day. There are so many things that creative people want to do with their life and learning to value and manage your time is a powerful tool to allow us to do those things. Creating a scaffold of structure, even though sometimes seems boring, actually allows us to be free.
James Clear has some clear and wonderful ideas on time – The Value of Time: How Much is Your Time Really Worth? (jamesclear.com)
2. Creative brains need time to think
I may be bias but let’s think of all of the most wonderful artists in the world making long term impacts on the world, past and present. Mick Jagger (that’s my bias), Tina Turner, Olivia Newton-John, A A Milne and Albert Einstein, just to name a few.
To create such incredible and meaningful works of art the brain needs time to explore and process thoughts and ideas. The art they produce after giving themselves that space is magic and lasting. We have an opportunity to create that too, given the time and space.
3. Money is but one resource and possibly the most fickle
Of course, we all need money to live, that’s the way of the world but it is only one piece of the puzzle for a happy, content/exhilarating life… however you define your success.
There are four types of personal resources – Emotional, intellectual, social and physical personal. If you sit and think on that for just a moment you can think of all the ways that your life uses these resources everyday.
A great article Study: people who value time over money are happier – Vox
4. If we are talking about the ROI of money and time, then having someone promote and boost you and your community while you manage your craft.…
Is priceless 🙂
Not only having someone promote you but your area benefits you and the people around us.
When the tide rises, all the ships rise together.
5. A fresh look at that equation for ROI
Marketing can be seen as anything you do to reach your tribe, to tell them what you offer, who you are and why you might be a good fit.
This can be done using advertising, social media, really in this day and age is seems to be limitless….
Let’s say you make an instagram reel…. You use imagination, observation and an hour of your time = one reel.
That’s alot of resources invested and I’m not here to discount what that could bring you in dividends. Connection, fun, friendships, maybe even a new client.
I’m just here to say, everything we do is an investment of time, effort and/or money. We have lots of different buckets that need filling, our businesses yes, but also our families, our friends, our health, our personal interests, travel plans, that list is unlimited but our resources are not.
So we have to choose, be intentional, about where to spend all of these precious resources to create (because we are all creative) our ONE precious life.
Thanks for ‘listening’ and supporting us to promote our wonderful area, the Great Southern. If you think these thoughts might help someone you care about to help them evaluate the resources of their one precious life, please share 🙂