How much should you spend on personal development?

personal development

Why Personal Development is the Best Investment You'll Ever Make

Since leaving my job to pursue an entrepreneurial life full time, I noticed that I spent so much time in my business that I didn't spend any on my growth or personal development. Another thing I noticed is that time became so important to me because there wasn't much of it. 

Personal investment is crucial. Even big corporate companies invest in their people. The benefit for working for a big company is that they take care of personal development for you, so you don't have to worry about it - they made sure to send you to training's, conferences, and etc. Well, when you decide to become an entrepreneur the responsibility falls on you to take action. 

The Time Invested is Related to your Success

If you’re really honest with yourself, I’m sure you would agree that you don't know everything about the business you're in. There may be one thing you're really good at but those others areas are not areas of strength. Being an entrepreneur means you should be constantly learning and you need to be able to deal with these changes and react so you can stay in the game. The question I often ask entreprenrus who come to me saying their business is not making money is : “Are you investing in yourself and your business?”. Most of the times, they're not. How do you expect people to pay for your products and services if you're not willing to invest in yourself? If you're stuck in your business, and not willing to hire the proper resources, how can you make great strides? 

Successful entrepreneurs know the value of self development and make it a part of their everyday lives. Regardless of the type of business you are in, the environment is always changing. Entrepreneurs must be ready to always learn new things in order to keep up with the fast-changing trends. What many entrepreneurs don't understand when building a company is that you're in the business of serving others and the more your improve yourself, the more you have to offer to others. Think of the impact you can make when you have the knowledge to make better judgement calls for your client or customers. The best entrepreneurs know that they're not good at everything, so instead of trying to teach themselves everything, they invest in themselves to accelerate the process. 

Successful entrepreneurs know the value of self development and make it a part of their everyday lives. Regardless of the type of business you are in, the environment is always changing. Entrepreneurs must be ready to always learn new things in order to keep up with the fast-changing trends. 

So, How Much Should You Invest in Your Personal Growth Every Year?

Jim Rohn, the world renown motivational speaker. once said, "Income seldom exceeds personal development". What he meant by this is that rarely will your income soar beyond your level of development. It's crucial as an entrepreneur to continuously reinvest in yourself. For starters, most companies usually set aside 3% of their revenue for training and development. However, as an entrepreneur running a start up business, I personally recommend a little bit more, especially if you're just getting started.

Read: 5 Things Every Entrepreneur Should do for Self Development


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