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Is your investing a business or just a hobby

Is Your Investing A Business Or Just A Hobby?

I’m constantly teaching and sharing the concept of building a business around your wealth. What does this mean? Let’s start with a little background. Historically, all great fortunes have been built in business. Whether it was Andrew Carnegie, John D. Rockefeller, Bill Gates or Warren Buffett, all great fortunes have business as their foundation. You really don’t hear about great fortunes being made by investors. Ever wonder why? It’s because business done right provides the most leverage, greatest velocity, and least amount of risk of any money-making activity. Why do some businesses grow and grow while others seem to hit a ceiling which they can’t grow? The answer to this question lies in the foundation of the business. Small businesses stay small when the owner spends his or her time running the business. Effectively, these people own their job. They have no time to work on the business because they are always working in the business. The key is how to get the owner out of the business operations and focused on the business growth. The answer is for the business to create a strategy and a set of systems that implement that strategy. Then, and only then, will the business owner have time to grow the business. When the strategy and systems are in place, the owner only has to manage the systems, not the people. The owner isn’t doing the work, the employees and other team members are doing the work. What does this have to do with investing? I have discovered that the business principles of strategy and systems can be applied to investing. Investors who create a business of investing, by developing a strategy and implementing systems, can enjoy the same results enjoyed by a successful business owner, i.e., higher profits, more growth, less time spent on investing, total control over their investing and less risk. Is your investing a business or just a hobby? Think about your investing. Do you run it like a business? Or, do you run it like a hobby? Investors who run their investing like a business have: A clear written strategy Mission, vision and values Systems in place to make investing fast, efficient and in line with the strategy A team of advisors Reporting to tell them their net worth or cash flow at any given minute Both informal and formal agreements with their customers and vendors The list goes on and on. How does your investing activity stack up? Are you ready to build a business around your wealth?

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