The best investment you can make.
I-B-M stands for International Business Machines— what a brilliantly successful company! Sales are approaching $100 billion dollars annually! R&D stands for research and development, something IBM spends over 6% of its gross income on– $6 billion to be exact… and if “brilliantly successful” is a name you’d like to earn, or continue earning, perhaps Y-O-U should emulate I-B-M and establish a personal R&D program.
What should your R&D program consist of? Anything that helps you improve in areas that are important to you. For example, you could invest in…
- A jump rope, stationary bike, or athletic club membership
- Books or newsletter subscription
- Audiocassette programs
- Seminars
- College courses
- A “field trip” to another company like yours, which you can study and learn from
- A lunch or dinner with an expert in your field who’s willing to answer your questions and offer suggestions
How much money should you invest in your R&D program?
If your salary is $50,000 a year, you’d have to invest $3,000 to equal 6%. With an income of $100,000, you’d have to invest $6,000, and if you’re earning $150,000 your investment would be $9,000.
But whatever you decide your R&D program should consist of, and however much money you can devote to it, it’s very likely to be the best investment you’ve ever made!
Professional Development is so important.
Joel Weldon
Inspirational Content Writer and Speaker
Here’s What You Can Do:
- Commit yourself now to your yearly R&D budget. If 6% seems too high to start with, invest less. Even 1% will help, and maybe next year you can increase your budget.
- Keep a record of your R&D investments. You’ll find it gratifying to look upon. You also might find some tax deductions on this list, but think of that as a mere bonus. You’ll get ALL your investment back, many times over, in the form of increased satisfaction and higher earnings.
- Start today. Get a library card. Buy a mountain bike. Sign up for a volleyball team. Don’t wait. Do it N-O-W
-Joel Weldon
