Second part of my short intruduction to investing. Our first investment started bringing us income. If the business model includes marketing we can also start promoting it to make bigger gains. Marketing is the best leverage of our incomes.
Today in social media everyone is making marketing. Some people are aware of it. Some are not and they are not planning to make money on their Fb, Instagram, Snapchat or TikTok profiles. The choice is yours. Remember it’s free and most probably you are doing it anyway. You just need to adjust the way of doing it but that’s a case for the next post.
Let’s say your investment is bringing you good returns. According to your strategy… What strategy? Yes strategy, plan, you should have one. Let’s say the business you choose was a high risk revshare and your plan is to keep your money working for 3 months pay out your deposit and keep working on what you earned. From the revshare company are coming good news: they just hit 100k users and new marketing campaign just started. It is tempting to keep your money working longer then you will earn more. No, you shouldn’t do that. Stick to the plan and don’t let your emotions decide. These emotions are greed and fear, don’t trust them it’s a bad adviser. Stick to the plan! Pay out your deposit which you can use for another earning opportunity.
Play safe with no emotions included. Stay calm under pressure and follow your track. Warren Buffet have 2 rules:
1. Never loose money
2. Don’t forget no. 1.
It’s not like he never lost any money. Success is built on failure. You will fail many times. It will take time and every failure brings you closer to success. Learn your lesson out of it, adapt and keep going. Donald Trump declared bankruptcy for his companies six times. Now he is a president.
Keep building new sources of cashflow and diversify your incomes. If you are looking for something for long term right now whisky could be a good choice. It’s good to have some gold bullion coins as well just the price of gold right now riched heights from 2011 so maybe that’s not the best moment but that’s only my opinion.
Be patient, sales always come.