The Entrepreneur’s Source Shares 5 Tips for Smart Investing
The Entrepreneur’s Source Terry Powell Shares 5 Tips for Smart Investing
Over the past 10 years, many individuals have started to question their financial future and in turn have initiated a reallocation and shift of their investments. In the following segment, The Entrepreneur’s Source Terry Powell shares tips on how an individual can rearrange his or her reactive investments into more proactive investments, such as through business ownership or franchising. As he explains, a business is a proactive investment individuals can put their resources into and have much greater control over their return, as they are not completely dependent on the stock market or other factors out of their control.
Terry Powell’s 5 Tips for Proactive Investing Do you want to reorganize your assets and savings, but aren’t sure where to begin? The Entrepreneur’s Source franchise has defined our top five tips for smart investing to help you begin to take control of your investments and turn them into more proactive investments.
Have a clear plan: Before investing in anything, an individual should ask themselves why they are choosing that specific venture. People sometimes lose sight of their end goal, so The Entrepreneur’s Source believes that people considering entrepreneurship should start by asking “why,” and continue remembering “why” throughout the process.
Diversification is crucial: Putting all of your eggs in one basket may turn out to be a recipe for disaster. Instead, investors should vary their portfolios with both passive and reactive investments in order to safeguard against losing control of their return.
Pick Proactive: Rather than choosing a group of reactive investments, transfer a share of your portfolio into a proactive investment, such as a franchise. This will allow an individual to gain some control over their return and not rely as much on the stock market or other factors that he or she is not in control of.
Put emphasis on long-term goals: Investors should determine their desired Income, Lifestyle, Wealth and Equity (I.L.W.E.) goals and keep these in mind at all times. Establishing one’s L.W.E. Goals can help to create a framework for growing a successful business and looking at what you want it to achieve for you in the long-term.
Seek help: Chances are that this might all be new to you, so enlisting in an alternative career coach at The Entrepreneur’s Source can be a great first step in overcoming Battered Investor Syndrome. An E-Source coach can help keep your on track while also providing you with objective advice and support along the way.