Should I reinvest earnings into new products or marketing?

That's a decision many entrepreneurs grapple with, and the right choice often depends on your specific situation. However, let me unpack a few considerations that could guide you.

1. Assess Your Product-Market Fit: - If your current products are already hitting the mark and there's evidence of demand (sales, feedback, etc.), then doubling down on marketing to reach a broader audience could be beneficial. This would help amplify your reach and bring in more customers.

2. Capture, Develop, Expose Framework: - Capture: If you've uncovered unmet needs or have new ideas that could solve problems for your audience better than the existing offerings, reinvesting in product development might make sense. This is your chance to capture new trends or shifts in your market. - Develop: Before plowing funds into marketing, ensure your current offerings are optimized. Do they solve the problem as efficiently as possible? Is the customer experience seamless? Sometimes the best marketing is a remarkable product. - Expose: If your existing products are strong and feedback is positive, exposing them to a larger market through strategic marketing efforts can lead to exponential growth.

3. Cash Flow and Sustainability: - Consider your financial flexibility. If cash flow is tight, investing in marketing might be slower to show returns. A successful new product can sometimes rejuvenate revenue streams faster, but it carries its own risks.

4. Test and Learn: - Avoid all-or-nothing decisions. A/B test your marketing strategies on a small scale or develop a minimal viable version of a new product to test the waters without heavy investment.

5. Align with Long-term Goals: - Ask yourself where you see your business in the next few years. Does a new product align more closely with that vision, or does expanding your reach with existing products?

When I faced similar crossroads, I tended to lean on my gut, backed by a good dose of research and feedback from existing customers. Remember, there's no one-size-fits-all answer, and sometimes you learn the most from just making a decision and adapting as you go. Whatever you choose, keep your journey uniquely yours and be ready to pivot if new information emerges.