Rules that leads you to be a great investor.
In the world of investment there are three things to master ie first, the rate of return on an investment (if I put say $1000 in an investment how long will it take me to get it back) and the shorter the period the better. Secondary how secure is the investment, a great investment should last.
Thirdly loss prevention, this should be a skill that you should learn or employ better systems to prevent this from occurring. If you understand these factors better and employ them you will have great investments. So, below are;
some of the tips that will guide you realizing this in your life.
1. Don’t Rush for quick money, there is no single venture that you have to put money in the morning and you rich in the evening. Money comes as a reword for efforts invested in a particular thing and this effort must be in form of knowledge, money, persistence, right people etc and all these cant be acquired in a single day. It may be true that you may play a game say with lotto and win a lot of money but this money will still go away from you because you haven’t build yourself to handle that in some ways some of which are mentioned above.
The truth is if you want to be a great investor aim at building yourself in a direction of your dream and at a certain time t you will get qualified and your dream will come true ie you will gain the required habits and you will take investments to a greater level hence a great investor.
2. Don’t keep slowing good money after the bad; what is most important in the game of investing is to keep learning every day. When a bad result shows up that’s clear that there is something bad you employed into the system and there is a need to do a rethinking and research to come up with a clear course such that you do again and come up in a different version that will see things do better. But don’t just keep adding money when the results are not good but rather keep researching for a lasting solution to the raising challenges as you rise towards becoming great investor.
3. Diversify your investments, there saying that don’t put all your eggs in one basket , I don’t refute this because of two major reasons first, any thing tragic can happen to your investment though insured it can come from the other side not protected or a dramatic fall in the demands of your product/service . This may lead you to fail but if you have the second one it becomes the helping hand. Secondly you learn a lot with different investments than one and this leads to transmission of knowledge from different sectors to other sectors leading to growth in investments.
4. Where you have no passion employ those with passion, its advisable not to invest in an area where you are not passionate about but some times when an opportunity arises don’t just let it go the solution is to employ people who are passionate about that they will do it well for you. But if you are to do it yourself when you are not passionate about there are big chances that you will fail.
5. Focus on risk, think about this statement focus on returns the risks will come for you focus on risks the returns will come for you. This is true because if you concentrate on returns it means that the way for risks is open and they will not estate to come. Consider also this statement action and reaction are equal and opposite (this is Newton’s third law of motion). My dear if you don’t know this take it from me whatever action you take on this plate it will face opposition whether you like it or not and if you don’t master this and always deal with it boldly this opposition force will always put you down but if you always handle it seriously you will always make it.
6. Act now. If you want to be a great investor learn to act immediately, as soon as you wish to invest in a particular thing immediately research and understand that particular thing but before you invest in it. Then after that take the necessary action, there is a great power in acting immediately do it you will experience this power and you will tell me.
7. Have right people.
8. Have a mentor.
9. Have it as your dream
10. Save regularly
New action to prosperity