What Business Should I Start?. Rhonda Abrams

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СКАЧАТЬ risk, who are looking for ways to earn more money than traditional and institutional sources provide—and you’re wiling to raise money from them for your investments.

      3.You have existing knowledge about the field in which you’re going to be buying or investing (stocks, real estate, mortgages, autos, etc.). Existing knowledge improves your ability to know how to properly value investments.

      4.You are good at finding deals. You have a good grasp of what things should sell for, so you know when you’ve found a bargain.

       5.You’re good at judging when to buy and when to sell.

      6.You know how to add value to something you purchase—by repairing, restoring, or renovating.

      7.You are able to monitor and maintain your investment. It’s very rare that you can buy something and just let it sit. Most investments need regular attention—whether it is trading stocks, managing rental property, or re-filling vending machines.

      8.You like working alone. There are many Investor/Owner opportunities that allow you to work—primarily—alone. And let’s face it, not everyone wants to put up with other people, especially on a day-today basis. You’d rather risk some money than have people to deal with everyday.

       Obvious (and Not-So-Obvious) Business Choices for This E-Type

      

Real estate investor

      

Antique collector

      

Second-mortgage lender

      

Classic auto buyer/reseller

      

Home remodeler/reseller

      

Furniture restorer/reseller

      

Laundromat owner

      

Rental property owner

      

“Angel” investor in new businesses

      

Pawn broker

      

Vending machines owner

      

Art collector

      

Antique buyer/seller

      9.You may not have the best people skills. Since you are buying and selling something tangible—either for yourself or for others—you don’t need the people skills of most of the other E-Types. You can hire a broker to handle your transactions for you, so you’ll spend even less time working with buyers/sellers in person or on the phone.

       This E-Type’s secrets & strategies

      

Get good legal help, especially if you’re investing other people’s money. People can get very litigious when their money is at stake, and you want to be protected if something goes wrong.

      

Look for things to invest in or buy that can bring you income in the short-term. Yes, you can buy many things and make money on their appreciation over time (e.g., real estate, art) but what about income next year or next month?

      

Avoid speculative investments. While there is an element of risk in all businesses, investing should not be the same as gambling. Choose investments that have a high probability of success, even if the rewards are somewhat (or perhaps a lot) more limited than riskier ventures. This is especially true when you are relatively new to investing.

       Watch out for . . .

      

Plunging in without knowing what you’re risking. Your “business” depends on your money. If you’re investing your own money, can you afford to lose it without totally jeopardizing your lifestyle? Is this your retirement money or money necessary so your spouse can stay home with the kids? Are you sure you want to risk it?

      

Laws regulating your activities relating to either lending money, handling other people’s money, or raising money from them. The government wants to protect people from fraudulent investment schemes and unethical “loan sharks.” So there are many laws regulating these activities. Find the laws that apply to your activities and follow them!

       E-Type: Organizer/Administrator

       Overview

      Details! Details! Details!

      While the other E-Types are busily designing, building, buying, or selling, who’s taking care of the nitty-gritty aspects of business? Someone has to make sure all the details get attended to: the bills get paid, the invoices go out, and stuff shows up where it’s supposed to when it’s supposed to.

      Most people hate dealing with these kinds of details, but not the Organizer/Administrator E-Types. This is where they shine. Few things give them more satisfaction than seeing the accounts balance or the goods shipped on time and on budget. They meet deadlines; they stay on task; they know where the files are filed. Who couldn’t use someone like this in their own business—or in their own life?

       The Organizer/Administrator keeps things running like clockwork. They excel at managing multiple tasks, details, and deadlines. They don’t need to be the star of the show, but without them, there is no show!

      The world seems to be growing continually more complex—with more forms to file and rules to follow—and most of us don’t have the time or patience to deal with these. We’d much rather hire someone to do it for us, meaning there are lots of self-employment opportunities for this E-Type.

      Generally, СКАЧАТЬ