Stock market

The Smartest Investment MSPs Can Make In 2009

I admit it: I still read Money magazine and Smart Moneybecause I like the basic investment advice they offer (or perhaps I enjoy reading about everyone’s shared pain). Even as the stock market continues to decline, I’m not ready to completely quit on Wall Street. Still, I’m starting to realize there’s a far smarter place for a small business owner like me to invest my money.

Sure, bonds and CDs are safe bets. But my smartest ongoing investment since 2007 involves pumping money into my own business. I suspect smart managed service providers have come to the same conclusion.

When Amy Katz and I co-founded Nine Lives Media Inc. (MSPmentor’s parent) we had some clear goals in mind. We decided not to pursue outside investment dollars because we wanted to maintain complete creative and financial control of the company.

We ultimately funded all operations out of our own pockets. We did some consulting work on the side to help generate cash flow until our main business properties gained momentum. And I was fortunate to quickly learn that Amy — as I expected — aggressively manages cash flow for our company.