BizSugar.com › Startups › The Urge to Splurge

Whether you are just starting out, or have been in business for a while, one of the most challenging decisions you face is when to reinvest in your business. Most of the time you are looking at low investments, but there will be times when upping your game requires something more significant and risky. So last week we asked the question.

When is it a good idea to splurge when reinvesting in your business, and why?

We received a variety of different approaches to the challenge, but the consensus was that there are parameters you should use when determining whether or not to reinvest. The bottom line is knowing the difference between something you might want, and what your business does or does not need. There is risk involved, so weigh the pros and cons of your decision carefully. If you’ve determined you have the resources, and not making the move may hurt your company or withhold value from your customers, it may be your moment to take action.