A coin can replicate to a note and then wraps of currency, yet, many fail to start well. As life enhances, people tend to get confused
about the right decisions to financial freedom. And with the toughness of
struggle, they eventually sway to the wrong direction. See,
many desperate and insatiable people jump into action without a forecast and research on the plan…pathetic.
many desperate and insatiable people jump into action without a forecast and research on the plan…pathetic.
Here are some useful guide to making financial
decision;
Save:
People often forget this step. No matter the business you intend to setup you can’t start by begging for funds, even loans most times needs collateral security. And to friends and family, they make rarely have such and even if they do they could risk it only on trust and credibility. Now all ends narrows down to you first with saving at least half the capital. Some will say government do create opportunities, but it would be so risky to start life dependent on luck, rather it should be an added advantage to your effort.
Also read: How to build wealth from scratch
Research:
This happens to second the step, because, savings is a natural norm even before a decision towards any business. At this stage, one can be so confused, pinning down a conclusion. From gathering facts, there is a high level of losing focus. Many ideas comes up, and these tend to be compared with the initial one. A good step is to be sure of your target, weigh the degree of risks, average budget and stick to it if favourable. Don’t be worried people will always come with all kinds of opportunities or business offers to make you sway…stay focused.
Also read: Obvious signs you will be wealthy
Trial:
Now, the first move is so critical. Instead of rushing with all saved capital into the business you just finished researching about, it’s advisable you take a quarter or half of your savings, and put it to test. My candid reason is, even after conclusion, it’s wise not to completely trust “plan A” and thus, still create room for a “plan B”, to fall back on for survival.
Also read: How to build wealth on a small salary
Decision:
Here, if the business trail was justifiable at all odds of test hypothesis, a proper decision can now to drawn. Furthermore, more plans should be created, business risks reassessed, and feasibility study done towards future goals, yet, not forgetting to setup a “plan B” are an entrepreneur guide. This is a “go-ahead” phase…still stay focused.
Also read: Silent rules to break to stay wealthy
Invest:
To every wealth acquired in business, there is an investment backup. Always note and believe that money left in the bank without investing is actually not yours but, for the big business owners and investors. These abandoned money will be taken, invested in business, while your “peanut” is returned back to you on withdrawal.
Also read: How to build wealth in real estate investments
Conclusively, wealth is a gradual process and should be followed steadily. As scrutiny remains an entrepreneurial arm in creativity and innovation.
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