Pharmaceutical stocks have been great investments with no upside end in sight, thanks to us ageing baby boomers.
Do you remember when Merck had to pull Vioxx from the market, and their stock went into the dumper. I’m sure this was not an overnight shock to Merck insiders, but it was to rank-and-file stockholders.
People who owned Martha Stewart stock could not have foresaw her criminal stupidity.
Mark Cuban, billionaire-thanks-to-dot.com, who owns an NBA team, and had a Trump knock-off show, told an interviewer that most people should never invest in the stock market – that only insiders make money. He ought to know.
My point is actually not to talk you out of whatever ‘outside’ investing you do and believe in. My point is, nothing I’ve ever done has provided return on investment anywhere near as good as investing in acquiring and nurturing customers for my own businesses.
I have come to believe this is true of just about everyone, in just about every business. And if you’re not in a business where that is true, maybe you ought to consider switching businesses.
Because this is THE investment we can make over which we have near total control.
When planning, setting goals, laying out plans. Here’s something that I think you should make a key part of that planning: how can I invest more in acquiring more good customers?
I’m a fortunate man. I have few regrets about my business life up until now, even fewer about my life as a whole. The few I have feature some really big ones, however, but still, they rarely haunt me. All along, I’ve noticed that the people I talk to one decade ahead of me, ten years older than me, voice lots and lots of regrets. So far, I haven’t caught up.
But one is: not investing more in acquiring more customers. Let my regret be your inspiration to action.