Throughout the journey of owning a small business, you are presented with many different opportunities to invest in your business. From investing in your own education, to buying a brand new piece of equipment, investing in your business is important, as it enables you to grow the business in directions that can be strategic to your market or niche. 

Today on the podcast, we host our very good friends and business partners, Reggie and Kathryn McIntuff. They own McInturff & Co., a real estate company based in Spokane Washington.

Reggie and Kathryn walk us through their journey in small business, from starting their company, to their first investments, to their first hires. They tell stories that I know we all can relate to, as well as share their advice on how and when to invest in your business. 

Here are some of the tips they talk through:

1. Start Small. 
2. Have a Plan
3. Know What you Want

1. Start Small

One of the first investments that Kathryn made in her business when she first got her real estate license actually cost very little money. The investment was in her network and knowledge. She met other agents in her market for coffee, and built her reputation as a personable human and reputable realtor. Kathryn also spent time during the COVID-19 quarantine meeting virtually with Mollie (you all know her) and studying business books. These investments did not necessarily require a ton of money. They required time! By starting small, you can still invest in your business without the burden of being strapped for cash. 

2. Have a Plan

Another major investment that Reggie and Kathryn made in their business was bringing Reggie on full time as a real estate agent. Kathryn was working too many hours, and Reggie has extensive experience in construction and remodeling, so they prepared to bring Reggie into the company full time, as his experience could grow their expertise and he could help balance the work Kathryn was doing. BUT, this took time to plan! Quitting your jobs and going full time together as a married couple can be risky, but with a well throughout financial plan, and a clear path to generating revenue, Reggie and Kathryn made it happen. 

3. Know What you Want!

When making large investments in your business, having a clear direction and knowledge of what you want the end product to be is critical! That may sound like a no-brainer, but you would be surprised at how often business owners pay for a new website, or a new design, without having put much thought into what they want the end product to look like. Kathryn and Reggie speak at length in this podcast about their desire to create a brand that resonated with their clients and other real estate professionals. They waited 2 years, gathered data, and by the time they were ready for a new website and rebrand, they knew exactly what they wanted. This enabled their investment return to be exponentially higher than if they would have invested without knowing what they wanted to gain from it. 

We hope that you tune into the podcast today and are encouraged to invest in your own company!!! If you are looking for a group of entrepreneurs with people like Kathryn and Reggie, look no further than the Venture Club! We have a group of awesome folks that are networking, sharing ideas, and genuinely excited to grow their businesses. Come check it out!