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Become an Entrepreneurby Investing in Yourself
by Lester Surtere
http://www.faninvesting.com
Those who have the fortitude to become an entrepreneur at
an early age have probably followed strict guidelines when
it came to investing their time and money. When it comes
to making monetary investments, many are unsure of their
ability to make sound judgments regarding the prospects
that present themselves, and others guard their money so
scrupulously that they often miss critical opportunities.
The true entrepreneurial spirit calls for the ability to
examine the facts and make whatever decisions are necessary
in order to make the best investments ~ even if it means
taking a bit of a risk now and then.
That~s not to say that you shouldn~t avoid risk, whenever
possible. In fact, the best way to prepare yourself in the
area of investing is by reading business publications that
will relate to the topic, such as The Wall Street Journal.
Research is a critical step toward investing, and should
be done with thoroughness and patience. Speeding through
this process will only cause you to lose money
unnecessarily. In today~s technological world, intense
research can be done through various internet search
engines. Speaking with other investors will give you a
better picture of the types of investments that are solid,
and joining stock market clubs may help, as well.
Try this experiment, if you want to test your discipline.
Commit to setting aside a certain percentage of your income
each week to savings. If, after a few months, you have
never been tempted to withdraw money from the account, and
all your funds are still intact, you probably have the stuff
to start investing. If you were not able to keep your hands
off the money, you need to work on your discipline,
because investing takes this kind of discipline.
The riskiest of all investments is in new markets. Unless
you are already a seasoned investor, you should avoid
this type of investment. The safest approach for the novice
is to study the histories of investment instruments that
interest you and then invest in those which have a steady
history of five or more years of growth. No investment is
guaranteed, and past perfomance is not an indicator of
future performance, but you are more likely to have success
in investments which have a positive performance history.
In the investment world, they say "diversify risk". It's
the same as the old proverb that tells us not to put all of
our eggs in one basket. In other words, do not invest all
of your money into one type of investment or even in one
sector of the economy. Spread your risk by having
investments in different areas of the economy.
It will take a great deal of patience to wait to see your
investments start to pay off, many times. Any really good
investment took a great deal of time before it began to
succeed. It will be worth while in the long run, even if
you have to wait for a few years before an investment
becomes successful. You may end up losing all of the
money you originally invested, if you can't take a wait
and see attitude in the investment market, .
Try to find a mentor; it's another trick of successful
starting out entrepreneurs. You should choose a person
who has already made all the mistakes in business and will
help you avoid them. Until you figure it out on your own,
they will be of great assistance in guiding you.
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