And just like that—it’s January again.

Last year, I used these blog posts as something of a personal therapy session (cheaper than co-pays, highly effective, especially considering what’s going on in health insurance – see last month’s post). This year, I’m aiming to do a better job connecting why I show up with what I actually do every day.

As our team mapped out January projects, one big deliverable rose to the top: an Economic Impact Assessment for a local IDA. For anyone thinking, “An economic what-now?”, here’s the short version. An economic impact assessment is a model that predicts the financial ripple effects of a project: jobs created, spending generated, tax revenue produced. Truly thrilling stuff. (I actually am a fun person outside of work)

That got me thinking: what if I ran an economic impact assessment on my own life? What actually moves the needle financially in a broader scheme, and what feels important but barely registers on the balance sheet?

Here’s my personal ranking, from greatest to least impact:

1. Your Time

I would shout this from the rooftops if I could. Your time is your most valuable asset. How you invest it determines your biggest returns.

For business owners, time is money (literally). You must get paid for it. Sure, if someone asks a quick question you can answer in ten minutes or less, be generous. But the moment you start doing real work, you should be on the clock and compensated. Prioritize systems that make it easy, and normal—to get paid for your time.

2. Invest Wisely

It’s easy to say, “Every dollar goes back into the business, so I can’t invest anywhere else.” Stop that. That thinking is harmful.

Just like if you were employed by someone else, you need to take a portion of your earnings and invest it. Stocks. Real estate. Retirement accounts. Crypto. Alpacas. Whatever works for you, which hopefully should be diversified (Note to self – future blog post on diversification). One day, appreciation, compound growth, and deferred gains will quietly become your pleasant surprise.

3. Spend With Intention

New business owners, listen closely. It’s very tempting to swipe the company credit card for the destination conference, sponsor every glamourous event, and buy the oh so cool maroon velvet sofa for the waiting room.

Spend money, yes. But remember: every dollar you spend is a dollar that doesn’t become net revenue. Could you buy a sofa off Facebook Marketplace and pay yourself an extra $2,000 this month instead?

4. Volunteerism Will Get You

This one is hard for me to say—as someone who sits on multiple boards and deeply values volunteerism.

There are incredible organizations, especially here in Buffalo, doing meaningful work: supporting people in crisis, caring for animals, building housing, strengthening communities. But they often require significant volunteer resources—your time and your expertise. Sometimes the very expertise others pay you for.

Yes, volunteering can expand your network and raise awareness of your business. Absolutely. But there is a point of diminishing returns.

My solution? I cap the number of boards I commit to and say no beyond that—or “not now.” I also stick to my ten-minute rule. If you truly have the time and energy to volunteer more than you want (or need) to run payroll, deliver projects, take a power yoga class, or show up at your kid’s hockey game—go for it. If not, you have to say no. And that’s okay.

5. Your Revenues Matter—Locally

Finally, your business generates tax dollars. That impact matters to your elected officials. So speak up. Make yourself known. Share what matters to you, your family, and your business. Express your perspective and your value.

After all—you’re paying for it.

Cheers

Amy