There is a keen relationship that exists between Investing and Business. A majority of the population think that when they buy a stock, put money in a time deposit, buy a mutual fund or go into foreign exchange that they are already investing. The population has a tendency to think more in terms of the investment product which is more akin to trading and not investing. Investing is a PLAN that one needs to map out to meet desired financial goals that are sound and reasonable.
Look at what happened with the recent Legacy scandal. Thousands lost their hard earned money, thinking that when they placed it in the hands of the Legacy group they were already 'cool' investors. They focused more on the investment product rather than on the educational side of being an investor which take time, patience, meditation and knowing what you want in life. Again INVESTING is a PLAN and a PROCESS and is not based on knowing the hot tip of the day where there are unsubstantiated claims of 'doubling your money'. Scams abound and to the unprepared mind, this can be devastating.
Most Entrepreneurs who have gone out of their way to be hands on in building their own businesses are blessed to 'see' when a business becomes profitable or not. They know how the different segments of a business work and know how to read financial statements. They become superman with 'Xray vision' and are able to decipher the profitability of a venture. This blessing has come out of the price that Entrepreneurs pay in operating profitable businesses.
It is my opinion that Great Entrepreneurs become good investors, that is why the advocacy to convince you to start your own business is right since the training in business can help you weed out the bad investment products from the good ones. The Xray vision to see a good investment product becomes more keen when one has been exposed to business training, paying the tuition fee from the school of hard knocks.
You are in this game of money already, it is up to you to make the best out of this game.
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1 comments :
investing is a plan and a process! i will make sure i remember that.
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