Don’t put all your eggs into one basket !!
Don’t we as businessmen do that most of the times ? When we start the business we know the importance of capital, we see capital as a raw material. After a few years into the business we don’t realize that if the capital is not generating returns above nominal returns then maybe that is not the right use of the capital.
Your income in your business is directly dependent on yourself and the business venture. Many businessmen take very little income as possible for themselves and funnel out the rest for the growth of the business. As far as the business is generating growth above the nominal growth rate of the country it is a good business, but as soon as you see growth moderating. Allocate the cashflows towards something that gives better returns. It is a balancing act for sure, if your sacrificing for the growth of the company you need to make sure your taking care of your personal finance ( Retirement savings, healthcare cost, college funds for the kids). The last thing you need is under funding your personal finance.
60 % of entrepreneurs don’t have a plan for retirement
The journey of entrepreneurship is hard, filled with mental fatigue, persistence, responsibilities among others. An essential aspect of entrepreneurship is financial well being of the promoter as it enables him to take better decisions when in adversity.
Adept money management is an indispensable requirement for enterprising individuals. This may be a tough task initially but once you get a hang of it, It improves your risk taking abilities exponentially.
An entrepreneur is someone who is constantly striving towards making a difference to the society, someone who pushes himself constantly for growth and progress, while these are absolutely taxing, the journey is what makes them going. Thus planning for themselves enhances the mental capacity needed to better the venture.
At Equibond Investments we aim for tangible progress and growth in our investors wealth, through long term conservative and responsible non speculative investments to give financial security and peace of mind by remaining always on your side.
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