Gold is not on this list - perhaps it should be, but that is a speculative type of investing that differs from what I'm suggesting.
Investment #1: You need to invest in better tools
Technology wants to be your friend. Investing in a newer smartphone with increased performance, additional memory for your computer, or better yet, a new computer (you should have at least 6 or 8 GB of RAM in a new computer these days) can each pay off in a short time.
There are a number of studies purporting to show that using larger computer monitors or dual monitors makes us more productive (this was part of my rationale in recently upgrading to a 27" monitor). Of course, it takes time to adapt to a new screen size and there likely are upper limits on the relationship between screen size and increased productivity. The point - buying your employees new monitors could pay off over time. Just make sure their tasks genuinely benefit from the larger screen.
As my business has grown I am facing issues of capacity. One of the larger investments of my time is producing session notes for my clients detailing our conversations along with the action items to be completed. This is critical to what I do and cannot be eliminated. My goal for 2012 - find out how to become more efficient in this area. If I can find voice recognition software that really works (I've tried several times), I will make the investment to save time so I can work with more clients.
Investment #2: You need to invest in those around you
No one succeeds without the help of others - even sole proprietors rely on vendors, clients who pay on time, and the encouragement of those who love them.
People provide the greatest opportunity for investment. The best leaders are not afraid to surround themselves with the strongest individuals who have complementary strengths (thus reminding the leader and others that the leader is not omnicompetent and has areas of weakness).
Invest in equipping your people with the tools and skill sets they need to succeed. Invest in opportunities to build the personal security and trust of your team members (this will pay immediate dividends). Invest in the shared financial success of those who make your organization function effectively. Invest in the continuing education of your workers. Invest in creative and meaningful rewards for specific behaviors you want to encourage. Invest in generous severance packages that send people away as advocates for your organization rather than as embittered former employees.
Investment #3: You need to invest in yourself
"That he not busy being born, is busy dying" (Bob Dylan).
You need to continue growing, learning, sharpening your skills. You need to be renewed in your vision and energy. You need to love what you do and view it as your calling. You need to invest in you so that you can be the best leader to those who follow.
In 2012 I'm planning on adding a new set of tools to those I currently offer. This will require an investment of time and money, but will help me continue to grow professionally and, more significantly, to better serve my clients.
I am committed to being a lifelong learner. I am amazed by what others know and how they make their callings look so easy. One of the best documentaries I ever saw was on Netflix and is called "Note by Note: The Making of Steinway L1037" (click for a link to the film). This film details the process of creating pianos that produce music that can only be made on a finely crafted instrument.
Make 2012 a year of "can't miss" investments. Invest in better tools, invest in those around you, and invest in yourself.
At Julian Consulting, we help you succeed as you invest in people. Team members who are personally secure and able to trust others make stronger contributions to your shared objectives. Leaders who know their strengths, surround themselves with the best people possible, and are committed to their calling inspire people to great things.