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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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Simple Way to Improve Your Credit Score

In your life there will be many things that are influenced by your credit score. Banks decide to lend you money or not depending on your credit score. If you have a bad credit rating this can affect your everyday life. But it is a lucky thing that we are able to improve credit scores.

The very first thing that needs to be done is to find what your credit score is.

Millions of people in the United States so your credit report can easily be incorrect. To prevent this from happening to you request a copy of your credit score report every year. If you find that there is something that is not accurate with your credit report be sure to let the credit bureau know about it and make sure that it is corrected. Bankruptcy makes your credit score bad to avoid this talk to an adviser in finance or to somebody that is an expert in this field.

Credit scores are figured out by the amount of debt that is owed and the amount that is available to you. To make you credit score better be sure to pay your bill as soon as they are due. If you pay for the items that are needed most, and overlook anything you would love to have, soon you will make your credit score better.

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