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Posted 13 November 2020
In investing, you have to be patient. You also have to know where and when to invest. According to Forbes, Warren Buffett is the fourth richest man on earth. He started investing when he was only 11 years old. Today he’s a billionaire. I’m not saying that’s going to be the case for you. I’m just giving this as an example to show you what’s possible when you invest.
If you had started investing at that young age, the chances are that you will be rich before you get old. A startup usually needs funds to kickstart it to success; that’s where you come in. It’s cheaper investing even before the company starts operations, and of course, it’s riskier. Some people might see nothing wrong in taking a risk like that, but you have to do your research to know if you’ll get a return on your investment.
Venture capital firms like Sequoia capital have been backing small and big companies for many years. They know the risks are high, and they take it anyway.
What you can do to start investing
I’ll assume that you already have money set aside to invest, but if you don’t, then you have to save up. Yes, you have to put money together because investing is very promising. First, you need to make money and then save it to invest in something you think will yield interest.
I’ve put together excellent ways you can invest your money.
1. Buy or flip websites
Like it or not, most people go into business, hoping that their businesses will grow one day, and then they’ll sell it; they are building it for that exit. But in this case, you will be buying and flipping websites.
There’s a site called Flippa. It’s a platform where you can buy and sell online businesses. You can buy and sell apps, websites (eCommerce, affiliate, or even AdSense sites}. It’s an excellent place to find companies that are already making money.
If you like this idea, you can decide to buy a website. Some of the websites are already making a profit. Before you buy one, make sure you can handle the business. You can even decide to employ someone that can help you. I’ve heard of people who bought websites on this platform only to flip it and sell it on the same platform for a profit.
Sounds great? Many people come here to sell their flipped websites. You can invest a little amount of money in hosting and domain.
If you have a skill and can build a website from scratch, you can make money. Some people who do this focus on AdSense or eCommerce sites. Some people have sold their flipped websites for tens of thousands of dollars.
2. Buy Stocks
Remember Warren Buffet? His first investment was buying stocks. If you want to do the same, you can open a brokerage account with E*TRADE. They give a $600 bonus when you invest $250,000. If you are new to stock investing, you don’t have to worry. They have a step-by-step guide you can use to learn how to trade on their platform.
3. Flip Cars
If you love cars, then there’s nothing wrong with investing some money in used vehicles. Some people are making thousands of dollars flipping cars for profit. You can start small and then grow it. For example, when you profit, you can reinvest the money to buy more cars to flip. In this article by Autolist, you can find out how to make money flipping cars.
4. Invest in yourself
Growing up, they taught us the norms of life, but not the reality. There are a lot of things we still need to learn. Statista projects that the e-learning market will surpass 243 billion dollars by 2022.
There is something about the mind. If you look around you, what you see was first imagined. The reason why you need to invest in yourself is to be informed. There’s no way you can imagine what you don’t know.
I know one can have an outrageous idea but would still break it down based on what they know. It’s the information you have that determines how you see things.
Someone can think of an idea but won’t do anything with it because they can’t see or know how to make it a reality.
There are people like Tony Robbins that can help you. In this blog post, he detailed what you can do to train your brain in minutes. Some of his teachings are free, but you have to pay if you want him to coach you. This blog post by Howmuchisit will show you a price estimate of Tony Robbins’s coaching programs.
I’m not saying Tony Robbins must coach you, but what I’m suggesting is for you to have a mentor. Free education is good. You can find and watch “free” YouTube videos, but most successful people don’t upload their best videos on YouTube; they keep their best tips and tricks in their coaching programs.