What Do Serial Entrepreneurs Do Differently to Create Wealth?
Creativity is expressed in countless ways. As like somebody feels a sense of pleasure after composing a song or, perhaps, building a house, entrepreneurs find building a business to be the ultimate expression of their creativity. It is to make something from nothing.
Building a successful business requires complete engagement – physical, emotional, and mental capacity. It seems natural to launch a business today, but to ‘launch’ and ‘run’ a company is not the same. And many of the most successful business owners admit that they started a business to solve a particular problem, not to make as much money as possible. However, ending up rich would be proper compensation for all the investing, failing, starting, and failing again.
How do serial entrepreneurs launch more successful businesses?
What do they do differently?
1. Opportunity Cost is High
The opportunity cost is the costliest expense that you’ll encounter in an entrepreneurial career. It includes all the energy, time, and money that you weren’t able to invest in your business due to deploying resources in prior decisions. You need to understand that you get not too many opportunities to invest. When analyzing a new idea or business, bear in mind that everything good takes full effort and several years to harvest. Make each one of your opportunities count.
2. Hold On to Equity
As a founder, investor, or entrepreneur, the essential balance to aim at is between how to grow your profit as large as possible while still having an opportunity to participate in future investments. Nobody has ever become wealthy on a salary. However, everyone in the top one percent of the richest in the world has achieved it through equity.
3. Leave the Drama Out of Your Investment Strategy
To generate liquidity events that exceed your current financial needs, pay attention to those predictable and boring 5%-a-year investments with low risks. Schedule an appointment with a Registered Investment Advisor and build a plan for the future, when you’re successful. If you’re already successful, don’t make your investment strategy dynamic, but a rather ‘boring’ one.
4. Keep Distractions Away
Young entrepreneurs usually have troubles to keep distractions away. It takes business maturity to be able to concentrate on what matters. On the other hand, the paradox is that young people in business often have more things in play. That can be reconciled by having a centralized business system – one such business there to make cash. Don’t neglect, harm, or disturb it. The money given to you can be diversified into various uses – making asset and cash purchases, investing in new ideas, medium-term experiments, and long-term succession.
Instead of putting money in the market, investing, and relying on investment returns, serial entrepreneurs create the wealth they desire by banking on the companies they’re building. They do invest in real estate, stocks, and bonds, but they are not relying on it entirely.
Unlike traditional entrepreneurs who build a company and grow it as much as they can, serial entrepreneurs launch a business and, after a while, sell it for good profit or hand it over to someone else while they retain ownership. They do this over and over again, avoiding the whims of the market and manage control of their financial future.
Blackhawk Partners can provide advisory, trading, and investing services to help you bring your mindset to a different level. We are there to back you up with the right philosophy and strategic solutions for your business expansion and further accumulation of wealth.
Now that you know the basics, go for the kill and never look back.
The BEST revenge is “OBSCENE WEALTH”.