Solid business decisions are based on the premise that there’s a monetary return greater than the investment needed to execute.
Some businesses make ROI black and white – it’s all about the money, and the ROI better be a certain percentage for the tactic to be considered at all.
Other businesses make ROI more grey – mainly because there are often other returns on the investment that aren’t as easily translatable into dollar signs.
Public exposure. Doing something that makes you top of mind to your current customer or client base. The feeling of contributing to a philanthropic entity. The good standing you’ve kept with area community leaders. The person who tells a friend about you.
Consider this situation: You’re a restaurant and you have the opportunity to make a spooky-themed take-out meal box. You’ll donate $2 from each one sold to a local nonprofit. You’re only going to make $2 per box and you won’t sell more than 50.
Are you running the type of business that would make the spooky-themed take-out meal box happen or pass on it?
There’s not really a wrong answer. What matters is that we know who we are and we don’t pass on opportunities too be a better version of ourselves.
Stay Positive & What Does ROI Mean To You?
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