14562 days ago
Everyday I speak with people who are looking for ways to deploy capital. They earn money from their job or business and then they want to take that money and send it somewhere else….Usually they want to send it to the stock market.
It is important that you think about yourself when considering options of re-deployment of capital. The best thing you can do and the most rewarding financial experience is to create your own business or investment. In today’s economy and the new normal that is coming, this is probably more important than ever. The demographics just aren’t the same, the jobs aren’t there, and the government has just made a mess of our economy on every level. The next 20 years is going to be about what you decide to make of your own economy. I really want to encourage you today to choose your own destiny.
Think about the 3 things you enjoy doing the most and ask yourself if there is a way you can monetize these hobbies. Or what about your own job, do you have to work for someone else or can you create your own business off of what you are doing now. This doesn’t mean you have to be a competitor to your current employer, it might just mean that you aren’t exclusive working for them, you might try and get other clients that need your services.
Almost everyone I know has, over the course of conversations, mentioned ideas that they think might make some money, yet 99.9% of them never act on their own ideas. Do you have an idea, an invention, or a better way to serve people?
Rick Rule of Sprott Asset Management told me that the best businesses to start are ones that serve the wealthy, because the wealthy enjoy hiring an expert to help them.
Anyone here reading this could start a consulting company to help the rich…Off the top of my head, if you are reading this and you understand Bitcoin, man…there is a huge hole in the market for digital currency consultants. Also for those of you who are ‘dooms day preppers,’ this is another market that is growing that I am certain the wealthy will seek out good consultants in helping them prepare for catastrophe.
Anything worth doing should be done right. One of the biggest mistakes of early business owners is to give their business a shoe string budget and to box it in with small ideas. Being a small company is fine, but be the best at what you do; being the best will attract customers and keep current ones happy.
Plan for success and be passionate about helping your customers. By investing in our customers you are investing in your own business.