One of the most common things we hear is entrepreneurs say they are "investing back" in their business or "investing in" their business? This makes sense for companies to evolve and grow; we need to be constantly changing them.
That being said, when I ask most entrepreneurs to dig in and tell me what investments they made over the past 12 months or what their plans are for the next 12 months, they have a much tougher time answering the question. What did you invest in and why? Are the investments working? What are you planning on investing in? How did you prioritize your list, and how did you decide how much you can afford to invest?
We are working on tools to help business owners think through all of these issues. So my question for you is, do you have any tools that you use now to answer these critical questions? What do you do today, and does it work for you?