How To Invest Your Money As An Entrepreneur - Part 2
Good day everyone! This is the Part 2 of this interesting, informative and educative series, titled, How To Invest Your Money As An Entrepreneur. If you have not read the Part 1, I advice you to read it before going on with this article, by clicking here. We all seek for money but once we get it, we get confused on how to invest it because we don't want to lose our hard earned capital. In today's article, I will be sharing with you guys, one useful tip/principle on how to invest your money in order to become a successful entrepreneur.
Comprehend The Uncertainties
In business, no one is certain about the future outcome. There is no 100% certainty of any sort in the business world, you just have to think of a business idea/plan, calculate your risk and hope for the best. If someone should tell of a business with 100% certainty, know that's a fraud. Who ever envisioned the outbreak of the pandemic, now imagine starting a business late 2019, with certainty of getting huge success and the pandemic happened, everything you planned is all crashing down and it's not your fault, life happened. This is the major issue newbies get when they are entering into the crypto world, they feel like, if I invest an amount, in the next 6 months, they should have gotten 10x, their initial investment. They have this ideology because of the kind of people that introduced them into the business.
In Nigeria, this recent fall in the crypto world, affected a lot of people, as people thought they would be cashing out easily, so they told their friends, co-workers and family members to invest in them and they will double their money in 3 months time, but now, they have gotten 4 to 5 times less of their initial investment and the people they collected their money from, are coming for them. That's why you need to first fully comprehend the uncertainties in the business you want to venture into. When you know that a business is not 100% certain, it helps you to calculate your risks safer and wiser and that's the kind of mindset you need to have, if you want to be successful investor. It's always wise to first see the risks of a business, then later see the profits before venturing into such business. Because it is wiser to secure your capital which you have in hand currently rather than be captivated by the profits of the business in the future. A bird in hand, is much more than the hundreds in the trees.
I hope you found this article quite interesting, educative and informative, if so, do well to leave your thoughts in the comment section below. Thanks for reading.
Hello @kenny-writes
Investing is for me a profession, you can't start inventing with every single thing we are offered because not everything is good, and not everything is bad either.
Being cautious is necessary, however, there are those who expect to get rich quick, and end up risking too much, so much so that they even borrow for a dream of enrichment that often will not come, at least not in the way and in the time they expect it.
Thanks for reading through @josevas217