How To Invest Your Money As An Entrepreneur - Part 3

in Project HOPE3 months ago

Good day everyone! This is the Part 3 of this interesting, informative and educative series, titled, How To Invest Your Money As An Entrepreneur. If you have not read the Part 1 and Part 2, I advice you to read it before going on with this article, by clicking here for Part 1 and here for Part 2. 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.


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Photo by 金 运 on Unsplash


Cut Out Your Emotions

As an entrepreneur one of the first principle you need to know about investment, is that, you should never let your emotions cloud your decision making process and never fall in love with an investment. Many people do make this mistake and it doesn't always end well. Any investment in which you invest your money in, with the aim of making profits, you should never get emotionally attached to such investment. Be rational and only think of your money and the profit you in tend to make from such investment, that should be only what you should concern yourself with, nothing more and nothing less. I have made this silly mistake in a time past. I invested some of my hard earned money with woman who can cook sweet food, so I established a food restaurant with her cooking and taking care of the shop. I invested in her with the hope of getting some monthly profits from the business. But I got attached to the woman and her family which I shouldn't have done. Some months she gave me below what I should be getting for the month. She wasn't opening the shop consistently and the quality of the food started to drop, these were signs that I should fire her and get a new cook but I didn't. Customers started reducing because of her drop in the quality of her food and her inconsistency. I already know her adorable kids, and it pains me that I should sack their mother, but my investment is going down the drain without me seeing it because my emotions clouded my reasoning. Before I knew it, this woman relocated, taking expensive cooking equipment with her. I couldn't restart the business again because of the level of loss, I incurred. My emotions caused my business and ever since that day, I never let my emotions control how I conduct my business. Any entrepreneur that wants to become successful should also try and cut out their emotions from their business, in order for them to have huge sustained success.


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Photo by Icons8 Team on Unsplash


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.

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Investing is very difficult situation if you don't have financial knowledge and dont have experience you can lose your money do your due diligence before investing. Or hire some professional.

Yeah, I think with knowledge and experience, you will definitely stop using your emotions to have business decisions. Well said @adityajainxds

Thanks for reading through @adiyajainxds

Very true, I have lost money because I was emotionally too attached to a coin and the platform. Sell, because I have made 10x of my initial investment, I didn't, because I was thinking with my logic but my emotions, now I'm having minus with that particular coin.

Thanks for sharing this wonderful article with us @kenny-writes

Thanks for reading through @menoski