Have you ever considered business as a channel to create a higher income other than what you’re receiving from your employer? Are you dreaming to become your own boss someday? If your answer is a screaming yes, then you have what it takes to become a rich and successful person someday. Some people who chose business as another source of earnings became prosperous but some failed. Business is not for everyone and you have to consider that fact if you’re planning to start up your enterprise soon. There’s no harm in trying but if you’re losing all of your money already, remember that you still have other alternatives. Here’s your other options to avoid losing your cash in business.
Catch me in my live training events! (quick plug)
The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.
Stock Smarts Singapore — May 18 & 19, 2019
Investment Conference 2019 – May 25, 2019
Stock Smarts Manila — June 15, 16, 22, 23, & 29, 2019
Stock Smarts Iloilo – July 6 & 7, 2019
Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019
If you’re business is not working for you, why don’t you try building your stake in good companies instead? As an alternative, you can use the money you have to buy good stocks and let it compound until you reach your target amount. Good thing about investing in stocks is that you don’t have a business to handle. Your yields depend on the performance of the companies you chose. Although it requires some investing knowledge, you will have all your time to study the market while letting your money grow in an investment. Also, investing regularly and for the long-term is recommended if you want to see your money double or triple down after a couple of years.
Businesses fail because of many known reasons. If you have run a sole proprietorship before, maybe it didn’t work because you have poor management skills. Handling the business alone is susceptible to failure if you lack experience. So another option I can recommend is doing business with a partner. You can choose to be silent partner if you don’t trust your management skills. You can also be a limited partner wherein the loses are limited only to the capital you have invested. If running a business alone doesn’t fit you, it’s time to live by the saying two (or more) is better than one.
Before you venture into a new activity like establishing your own business, make sure to invest in knowledge first. Having enough ideas on how to handle business challenges is important as this will drive you to become creative and innovative so you can deal with the issues you face everyday. While doing so, you can focus on investing in mutual funds or UITF. These types of investments have lower risks compared to stocks. As you learn new things, you are also letting your money grow. If you are really eager to do business by yourself, I recommend you to keep on studying even after starting up your company.